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 some new taxes and proposed taxes. (See the Taxes section.)
Precious Metals:
The spot and futures prices of gold and silver kept up great strength this week. As of Thursday evening (March 28, 2024), here is a snapshot of the spot market:
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Gold: $2,247.30 USD per Troy ounce — up $42.00 (1.88%) for the day. That is another “all-time high.”
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Silver: $25.18 per Troy ounce — up $0.34 (1.37%) for the day.
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Platinum: $927.90 per Troy ounce — up $13.20 (1.44%) for the day.
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Palladium: $1,051.50 per Troy ounce — up $31.50 (3.17%) for the day.
Clearly, platinum and silver are both presently undervalued. Methinks the price of platinum will be playing catch-up, in the next few weeks. And silver could see a big breakout to $40 per ounce, or higher. Think about that! Presently, the spot market is at a crazy-high silver-to-gold ratio of 89.24-to-1. If gold holds steady, just a modest reversion to a bit more realistic 75-to-1 ratio would bring silver up to $29.96 per ounce. And a really exuberant “Silver Bull” push to a 40-to-1 ratio versus gold would equate to $56.18 per Troy ounce silver.
I should also mention that if the platinum-to-gold ratio reverts to 2-to-1, that would bring platinum to $1,123.65 per Troy ounce. That is quite possible. And mark my words: In a wartime economy, the platinum-to-gold ratio will likely flip-flop to 1-to-2. (Read: $4,400+ platinum!) Once the cruise missiles start flying, it will be too late. Get your platinum now.
There is definitely a distinct bull market scent in the air! – JWR
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Here is a piece by Jesse Columbo that ran in Forbes: Here’s What You Need To Know About Gold’s Long-Term Bull Market. (Full Disclosure: Jesse Columbo is contractually tied to BullionStar, and they are one of SurvivalBlog’s affiliate advertisers.)
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Reader K. wrote:
“There is an excellent Andy Schectman interview to watch from beginning to end. It is long, but worth every second. We sped it up in the YouTube settings — as we often do — to get through the entire thing.
It offers an excellent geo-political view into silver and gold price suppression in and by the USA plus the massive acquisition of it by the BRICS countries and other nations. Lastly, what he believes is coming for gold and silver when the US loses control of the dollar and metals market suppression. This mirrors what
Adapt 2030 is telling us is happening while on their European-Asian trip.”
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Metal detectorist unearths largest gold nugget ever found in England.
Economy & Finance:
Several readers mentioned this news: Swamp Wins: Senate Approves $1.2 Trillion Spending Bill, Narrowly Averting Gov’t Shutdown.
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Reader H.L. sent this: Wages in the US are falling at a ‘striking’ pace, Indeed says.
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From reader C.B: Texas pulls $8.5B from BlackRock in stunning blow to ESG movement.
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Linked over at the Whatfinger.com news aggregation site:
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Commercial Bank of Ethiopia glitch lets customers withdraw millions.
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Millions of seniors behind on student loans risk losing Social Security, lawmakers warn Biden.
Continue reading“Economics & Investing For Preppers”