SD Bullion Weekly Update

The first half of the trading year 2024 is completed today, and in the second half of this week's SD Bullion Market Update, we'll examine how silver and gold have fared around the world.

But to begin, I want to focus on a chart regarding the ongoing high silver premiums paid in China for industrial-sized 1,000-oz silver bullion bars.

The silver and gold markets traded sideways and slightly down, respectively, on the week.

The spot silver price ended the month, quarter, and half-year point just over $29 oz bid.

The spot gold price finished just over $2,325 oz bid, and gold was slightly stronger than silver on the week.

The spot gold-silver ratio finished at 79.

Happy 4th of July holiday to our US customers and viewers out there.

It was a busy week of positive price action for both silver and gold. Today's most bullish moves followed this morning's US jobs report data.

The spot silver and gold markets finished the holiday-shortened week with strength.

The spot silver price closed the week at $31.21 oz bid, while the spot gold price closed just under $2400 oz bid.

The spot gold-silver ratio fell to 76 on the week.

Year to date, both silver and gold have performed well in fiat US dollar terms.

But the fundamental drivers for both are still not reflected as bullish enough.

That will be all for our weekly SD Bullion Market Update.

We have previously produced 7 videos (backlinked below) related to this subject. Along with the show notes, there will be a public Google Doc spreadsheet below documenting the ongoing data and source links for each respective video, present and past.

When we began making these particular types of updates in the summer of 2020, the hard US debt was at the time $25 trillion, and it has since ballooned to almost $35 trillion, a gigantic growth of 40% more US debt outstanding in just the last four years. Continue this trend, and the outstanding hard US debt will balloon to $50 trillion by the summer of 2028.

This video's long-term gold price target data is based on historical US financial history precedents and the past, where the US Official Gold Reserve value accounted for 40% of the outstanding physical fiat US dollars in domestic circulation at the time.

This happened on three different occasions in the 20th Century. Given the building evidence of a global return towards a gold bullion financial foundation in this 21st Century, producing another 40% coverage rhyme in time is the thesis of these coming price projections.

Take advantage while you can, acquiring a prudent position in bullion like central banks are collectively doing in record size. Simply knowing the long-term trend will be our net wealth friend.

That will be all for this week's SD Bullion Market Update.

I'll be back next week with real-time updates.

Until then, as always, take great care of yourselves and those you love.

Public GOOGLE DOC with data source links:

Lots of craziness has passed since we Bullion Market Updated two weeks ago.

Some in the form of live bullets aimed at assassinating the former and current leading US Presidential candidate Donald Trump.

Thankfully only the top portion of his right ear was struck and he was otherwise unharmed.

Today, Friday, July 19th, 2024 the Western world awoke to a new cyber shutdown brought on by a supposed IT update which shut down many banks, airlines, and media companies causing major disruptions with Microsoft service applications worldwide.

The finger was pointed directly at a major global cybersecurity firm ironically called Crowdstrike which turns out to be a World Economic Forum partner.

The same transnational organization that makes dramatic trailers and war games about global cyber panics and system shutdown threats.

And so today many millions of workers and those seeking services were left in the digital world lurch as system failures worldwide caused canceled flights, ATMs not to function, and basically the biggest IT failure in world history according to experts.

In an increasingly digitally leveraged world that seems hell-bent on having next to no backup plans or systemic redundancy responses in case of grid failures. This is one of the big driving forces to owning prudent physical bullion positions outright and rainy-day physical fiat cash on hand.

The spot silver and gold markets have had a hot month of July until recent sell offs to close this week.

The price slam in silver was most pronounced with the spot silver price closing the week at $29.25 oz bid.

The spot gold price closed the week just under $2400 oz bid after hitting a record nominal price high in fiat US dollars just below $2,500 oz.

The spot gold-silver ratio has been rising, with gold's relative strength over silver lately, with the spot GSR closing this week at 82.

Physical bullion premiums remain relatively low with major gold and silver bullion sales this weekend at SD Bullion — www.sdbullion.com/deals

That will be all for this week's SD Bullion Market Update.