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SD Bullion Weekly Update

Smithys Bullion - FINE GOLD AND SILVER
Silver Breaks Out Over Gold, LBMA $45 oz by Next Year?



The spot silver and gold markets both ran higher this week.

The spot silver price closed over $33.71 oz bid and such strength suggests there will be more to come.

The spot gold price finished the week priced over $2,721 oz bid.

The spot gold-silver ratio plunged on relative silver strength over gold today, marked down to a still historically high level of 80.

That is going to be all for this week's SD Bullion Market Update.
 
All Roads Lead to Inflation | Silver Outperforming Gold Soon

So that happened this week to US Treasury head Janet Yellen.

A quick snippet from my interview two days ago, last Wednesday, Oct 23rd, with Dale Pinkert of FOREX Analytix.

Full link in show notes below and on my Twitter X feed @JamesHenryAnd

James Anderson is looking for the spot Gold Silver Ratio to trade in the 60s this run. ForexAnalytix interview from Wed., Oct 23, 2024 • FACE Interview OCT 23rd 2024. James l...

The spot and silver and gold markets were a mixed bag this week, with silver nominal price levels not seen since late 2012.

The spot silver price closed just under $34 oz, and the spot gold price closed at a still strong just under $2,750 oz bid.

The spot gold-silver ratio did break 80 intra-week, and revisiting this silver run towards the lower 70s, even into the 60s, is possible not very long from now.

Gold and silver are still relatively cheap.

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

 
Lots of interesting gold-related reports mainly focused in and out of London to India this week. Repatriating 102 metric tons of her gold bullion reserves from London recently. India is also beginning to flex its growing silver market muscles as well.

This week, the silver and gold spot price markets in fiat US dollar terms were a mixed bag.

The spot silver price closed weakly, retesting to around the $ 32.50 oz mark to finish the week.

The spot gold price pulled back today after hitting another record nominal price high yesterday to close just under $ 2,750 oz ask.

The spot gold-silver ratio popped on gold's relative strength over silver to end the week, ballooning upwards to 84.

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


 
In the annals of modern gold price maintenance history, the spot price dips in gold and silver this week were nothing compared to the last time Trump won the US Presidential election in November 2016.

This is not the same bullion bull market as then, far from it.

Judging from what SD Bullion customers did with their bullion buying capital upon the sharp spot gold and silver price last Wednesday, that is precisely what they did. Buying at a more than 3X rate versus more normal daily order flow data of late.

Following up on last week's Indian gold repatriation of 102 metric tonnes of gold. This week, India's central bank announced that it bought another 27 metric tons of gold bullion last October 2024.

Curious about your viewers, I recently posed a simple 3 choice YouTube poll, which got over 1,100 responses from our channel subscribers. And like India's central bank, about 78% of poll respondents are still actively adding to their prudent bullion stacks at present and to come.

The silver and gold markets traded down during the Trump election week.

The spot silver price closed above the $31 oz bid, and the spot gold price finished at the $2,683 oz bid.

The spot gold-silver ratio grew to close at 85.

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

And, as always, to you out there.

 


The spot silver and gold markets sold off again this week. Spot silver finished the week at a $30.22 oz bid, while the spot gold price closed at a $2,561 oz bid. The spot gold-silver ratio fell one tick to 84 in the week.

Every gold and silver bullion coin, bar, and round we ship and sell at SD Bullion is tested to be genuine and guaranteed to be bonafide bullion.

That high-grade thick layered 24k counterfeit Gold Buffalo Gold Coin with tungsten insert was reportedly found this week out in the wild USA brick mortar world, using a similar Sigma Metalytic device we offer at SD Bullion https://sdbullion.com/coin-supplies-a...

That will be all for our weekly SD Bullion Market Update.
 
The Race for Silver Stockpiles Has No End in Sight



The spot silver market closed at a $31.29 oz bid, and the spot gold price finished at a $2,711 oz bid.

The spot gold-silver ratio finished higher on the week, given gold's relative strength over silver, closing at 86.

We are about to listen to a condensed version of what he and other silver market players had to say at the recent LBMA Conference meeting in October 2024 (last month).

I will try to cut the clips to the most critical points and backlink the 1-hour discussion in the show notes below.

LBMA Conference 2024, Silver Linings: The Future of the White Metal:

As I have maintained through years of video uploads on this channel, the world silver price discovery market has been in disequilibrium for many decades in total, and given that it is still being pushed around by highly leveraged paper derivative trading with only short bursts upward in price where market clearances have occurred. We have to look back to better understand where we might be heading.

Throughout this entire full fiat currency era, there have only been four market clearing price runs where the red spot price line met the blue-colored eastern price aggregation lines seen here. It was in 1974, 1980, 2006-early 2008, and early 2011.

This video hints at where and how the world will look when the coming fifth market clearance event for silver comes due in the years or even the next decade.

That will be all for our weekly SD Bullion Market Update.
 
Former Silver Bull Warren Buffett on the Coming $84 Trillion Wealth Transfer



The spot silver price finished the month of November with a monthly spot price chart candle above the critical $30 oz level, closing at a $30.53 oz bid.The spot gold price closed the month above a $2,650 oz bid, with the spot gold-silver ratio moving sideways at 86.

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



You might recall the news that China had paused her gold bullion reserve buying in early June of this year, and the $100 oz intraday sell off that proceeded. The spot gold price has climbed since regardless.

China also made news this week as the nation's Politburo planners announced a vow to ramp up stimulus to spur growth in 2025. Experts are expecting the fiat Chinese yuan to be devalued accordingly to any news tariffs the Trump regime potentially slaps on Chinese imports.

Later in this week's SD Bullion update we will go into details this week about how potential coming Chinese tariffs are creating chaos in the silver and gold price discovery markets.

But first, the OMFIF or Official Monetary and Financial Institutions Forum published a 24-page report this week entitled "Gold And The New Disorder": https://pdf.omfif.org/gold-and-the-ne...

The most important point made in the report revolves around a coming Short Squeeze in the world's physical bullion market.

Citing recent history in the Palladium market in the late 2010s, where palladium shorts experienced massive losses as the spot price ran six fold trough to peak over a five to six-year timeframe.

The estimation was that unallocated to allocated gold ratios could be as high as 100 unbacked derivatives to 1 oz bullion backing, with suspicions rising that some BRICS countries could be considering 'weaponizing' gold against the West. Our fiat financialized markets could be in for a bumpy ride.

The silver and gold spot prices were mixed this week as gold outperformed silver overall.

The spot silver price climbed to over $32 oz intra-week only to be cut down to close at $30.56 oz bid.

The spot gold price closed flat after a short climb to $2,730 oz bid high intra-week, yet closed down at $2,650 oz bid.

The spot gold-silver ratio climbed on gold's relative strength to close at 86.

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


The fiat Federal Reserve cut their Federal Funds rate another 25 basis points this week. Nearly all markets sold off, on what was oxymoronically called a 'hawkish cut'.

Often the typical dog and pony show from the fiat Fed during rate cut cycles is to manipulate, wait I mean manage expectations according to their shorter-term goals.

There will be more cuts next year in 2025... the key question of course is how many and how fast they will come and under what kind of economic conditions.

The fiat US dollar spot prices for silver and gold sold off on this week's rate cut with a tiny rally back to end the week's trading down overall for each metal.

The silver spot price ended the week at $29.46 oz bid... more on the relevance of that in a minute.

The gold spot price closed above $2,620 oz bid, and with more relative strength vs. silver, the spot gold-silver ratio climbed higher to end this week at nearly 89.

I believe given the fundamental situation for bullion in place and to come, the old 1970s Western-led gold bullion bull on the left hand of these 2 charts will end up being echoed as this decade plays out into the next.

This time it will be a worldwide affair with many Easterners gaining purchasing power versus typically low-to-no bullion and high-grade jewelry-owning Westerners.

The runway for a coming bullion mania phase remains steady ahead.

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