Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at the nascent Strategic Bitcoin Reserve. (See the Forex & Cryptos section.)
Precious Metals:
The spot and futures prices of silver and gold gained during the recent $4 trillion stock market rout. Typically, gold has been liquidated for short covering by some traders, during sharp stock market declines. But this time, it appears that it was Bitcoin that was liquidated. BTC fell from roughly $92,000 USD to $82,000 USD from March 5th to March 11th, 2025. And it was down further to $80,893 on Thursday afternoon. (May 13, 2025.)
After news that a Ukraine war ceasefire had been rejected, spot gold set another all-time high of $3,006 USD per Troy ounce, on Thursday. (May 13, 2025.) Meanwhile, spot silver was up to a quite respectable $34.18 USD per Troy ounce. I expect to see some profit-taking on Monday, but the Precious Metals Bull seems to be going Full Pamplona, this year.