Win 500 Silver Coins, enter here: [ Ссылка ]
SUBSCRIBE to Our Channel: [ Ссылка ] The spot silver and gold markets traded down on the week.
The spot silver price sold off hard to close trading today, finishing below the $29 oz bid.
The spot gold price still managed to record its highest monthly price close, settling above $2,500 oz for the week.
The spot gold-silver ratio ballooned back to 86 on silver's relative price weakness to gold over the week.
This week, Goldman Sachs, BASF, HSBC, and ICBC Standard Bank out of London made a Platinum and Palladium price-fixing lawsuit settlement of a slap on the wrist of $20 million.
The price rig lawsuit occurred from the start of 2008 through nearly the end of 2014. This latest admitted precious metals price rig was during the twice-daily platinum and palladium "fixings", with the four guilty financial institutions sharing customer data, front-running expected price moves, and placing bogus "spoof" orders, which enabled banks to avoid losses on "short" positions they maintained in futures markets.
Similar price rigging data points to gold and silver prices being consistently rigged over a similar historical timespan. This data from 2006 to 2012 shows how the intraday gold price was consistently rigged lower during the London AM & PM fixes over those years as well.
The last 24 years of data throughout this 21st Century suggest similar price suppression programs are still active, though perhaps not as effective as they once were.
Looking back at the Palladium market during the settled lawsuit timeline illustrates what eventually happens to an artificially suppressed market. Eventually, they run into physical shortages, and the spot price explodes to eventually find a much higher equilibrium or price balance. Palladium, for instance, ran from a $180 oz low in the 2008 GFC to a price spike high of $3,400 oz by the start of 2022.
In another piece of circumstantial evidence of a potential recession underway, Goldman Sachs announced this week that it would be cutting 1,300 employees, or 4% of its overall staff.
Stick around; on the other side of this break, we will run through the week's most interesting news in the silver and gold markets. And why many fundamental reasons cited are having analysts call for higher spot silver and gold prices through the close of 2024.
Lower rates will have a bullish impact on gold, analyst says
CNBC International News — [ Ссылка ]
That will be all for our weekly SD Bullion Market Update.
And, as always, to you out there.
Take great care of yourselves and those you love.
--
Royalty-Free Music & Copyrighted Music provided by:
––––––––––––––––––––––––––––––
August Rain by Snoozybeats / snoozybeats
Creative Commons — Attribution 3.0 Unported — CC BY 3.0
Free Download / Stream: [ Ссылка ]
Music promoted by Audio Library [ Ссылка ]
[ Ссылка ]
––––––––––––––––––––––––––––––
Angelz by ZiMPL / zimplmusic
Creative Commons — Attribution 3.0 Unported — CC BY 3.0
Free Download / Angelz: [ Ссылка ]
Music promoted by Audio Library [ Ссылка ]
[ Ссылка ]
––––––––––––––––––––––––––––––
Spot by KV / kvmusicprod
Creative Commons — Attribution 3.0 Unported — CC BY 3.0
Free Download / Stream: [ Ссылка ]
Music promoted by Audio Library [ Ссылка ]
[ Ссылка ]
