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"Silver Is Ready for an Explosive Price Breakout in 2024": Alasdair Macleod | Silver Price 2024
Alasdair Macleod concludes his analysis by exploring the broader implications of the current economic policies and the critical role of gold and silver in preserving wealth amidst financial instability. He underscores that the disconnect between the physical and paper gold markets, coupled with excessive government borrowing and declining foreign demand for U.S. dollars, is creating an unsustainable economic environment.
Macleod highlights the importance of understanding the dynamics of the gold market. The significant reduction in open interest on the COMEX, from 520,000 contracts to around 430,000, indicates an oversold market. This trend, along with the substantial amount of gold being stood for delivery, signals a tightening in the physical gold supply. As more market participants demand physical delivery, the pressure on bullion banks to cover their short positions increases, creating a potential crisis in the paper gold market.
The shift in gold ownership from Western institutions to Eastern buyers, particularly in China, is also significant. With a household savings rate of 35% of GDP, equivalent to $6 trillion, Chinese citizens are increasingly moving their wealth into gold. This trend reflects a lack of confidence in traditional financial assets and a preference for tangible, stable stores of value. At current prices, this savings is equivalent to 75,000 tons of gold, highlighting the scale of potential demand.
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🔴 WATCH THIS If Your Wealth Is In Dollars | Alasdair Macleod
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About Alasdair Macleod:
Alasdair Macleod started his career as a stockbroker in 1970 on the London Stock Exchange. In those days, trainees learned everything: from making the tea, to corporate finance, to evaluating and dealing in equities and bonds. They learned rapidly through experience about things as diverse as mining shares and general economics. It was excellent training, and within nine years he had risen to become senior partner of his firm.
Subsequently, he held positions at director level in investment management, and worked as a mutual fund manager. Mr. Macleod also worked at a bank in Guernsey as an executive director.
For most of his 40 years in the finance industry, he has been de-mystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man. Accordingly, his mission is to educate and inform the public in layman’s terms what governments do with money and how to protect themselves from the consequences.
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