
In this episode, Michael Fox and Jeff Christian, Managing Partner of CPM Group, discuss the current state of the gold and silver markets. This comprehensive discussion provides valuable insights into the current state of gold and silver markets, addressing common misconceptions and conspiracy theories while offering a clear perspective on market dynamics and economic factors influencing precious metals.
Gold and Silver Market Insights
Jeff Christian explains that Comex gold inventories are at record levels, with no shortage in New York or London. The price difference between New York and other markets is attributed to stronger demand in North America and large purchases by the Polish Central Bank. Christian clarifies that this price spread is normal and reflects regional market differences2. The potential impact of US tariffs on gold and silver imports is discussed, noting that while they have some effect, it’s less significant than supply and demand factors. Christian emphasizes that gold and silver are not missing, but rather in transit or held in non-Comex depositories.
Debunking Fort Knox Gold Conspiracy
The discussion debunks conspiracy theories about gold stored in Fort Knox and other U.S. government depositories.
Key points include:
Dollar Value and Gold Reserves
Jeff and Michael discuss the value of the US dollar and gold reserves:
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