In this presentation, Jeffrey Christian of CPM Group provides a precious metals update covering the gold price outlook, silver market analysis, COMEX deliveries, precious-metals fraud, storage programs, and the importance of independent audits.

CPM Group expects gold to trade broadly between approximately $3,800 and $4,150–$4,200 during August. Jeffrey discusses the technical levels affecting gold. He also looks ahead to the Federal Reserve’s Jackson Hole conference. The August COMEX delivery process has unfolded normally and is unlikely to provide additional upward pressure.

Silver continues to test the $60 area. CPM would not be surprised to see another temporary move below $56 during August. The outlook becomes more constructive during the final four months of the year. Political, economic, inflation, and currency concerns could support stronger investment demand for gold and silver. CPM remains less optimistic about platinum and palladium because their industrial fundamentals are weaker.

Jeff then discusses fraud and the danger of weak auditing practices. He explains why fraud often becomes visible when economic conditions deteriorate. He reviews the enormous investor losses associated with the internet stock bubble and the mortgage crisis. He also discusses current risks involving artificial intelligence, cryptocurrencies, private equity, and private debt.

Courtesy of the CPM Group