Plenty of gold sitting in ‘wrong location’ and in ‘wrong form’ Scotiabank

Plenty of gold sitting in 'wrong location' and in 'wrong form' — Scotiabank

There is no shortage of gold out there, but there are some serious "physical bottlenecks" for certain gold products that are just sitting in wrong locations, Scotiabank said in its latest update.

"If there were a major shortage of physical gold, spot gold prices would be trading at a premium to futures prices, which is not the case," Scotiabank commodity strategist Nicky Shiels said on Friday.

This past week, economists have been busy answering traders' fears regarding a shortage of physical gold and silver. The issue escalated last week when an unusually wide spread between futures and spot prices developed, with the former being much higher.

"In gold, the impact [has] shown up [in a form of] major dislocations between physical and paper, and within physical pricing. The basis/premium between COMEX and OTC/physical gold (surprisingly) widened to almost $100, at a time when that premium should be tighter and closer to zero, given the supposed physical shortage. The Gold futures curve, which historically should always remain in contango market, showed intermittent signs of flipping into backwardation (April-June spread)," Shiels described.

Economists responded by citing April futures contract expiry, lack of flights available to transport the right type of gold bars from London and closure of major refineries in Europe.

Shiels has put current production problems into perspective:

"The current disruption to gold production is tiny (around 1%); more importantly, there are ample above-ground stocks that could be enticed out at a (higher) price. There's ~90m oz. sitting in known vaults (e.g.: ETFs) with approximately 6.3bn oz. (yes billion), or 60x the annual production of gold, being held in jewelry, official sector and private investments," she noted.

"Overall physical demand is strong in 'wrong' locations* or in the 'wrong' form** while metal is sitting where it's not needed (Asia, Africa), in a situation where airlines/transportation networks are disrupted," Shiels added. "*Wrong location: supply issues/refinery shutdowns in U.S. & Europe **wrong form: demand for limited 100 oz. or 1kg (not 400 oz. bars)"

When examining recent gold price action, Shiels wrote that the yellow metal has found its post-crisis bottom sooner than expected.

"Gold has found a bottom at $1,450," the commodity strategist said. "Gold is likely bottoming earlier because of a much faster and larger policy response than markets could ever have anticipated."

The metal should be trading closer to $1,700 an ounce, she added, explaining that gold is seeing "a perfect storm" from a macro perspective, which could push prices to new record highs.

"Gold [is likely] to begin an even more bullish longer-term trajectory vs. the 2008-2013 bull run," she said. "Positioning is clearly a lot cleaner, max macro fear has dialed back from extreme levels, risk appetite in U.S. equities has returned, US$ remains somewhat capped (Feds unlimited QE and U.S. taking top virus case spot) and funding pressures have alleviated somewhat."

Going forward, gold is bound to benefit from the massive monetary and fiscal stimulus that is extremely inflationary.

"Overall, as day follows night, so inflation follows deflation, and Gold is not waiting around," Shiels said. "If (when) equity market volatility subsides, and macro fear lowers from extreme levels, prices should find another leg higher, which it is attempting to accomplish."


By Anna Golubova

For Kitco News

Gold edges lower as investors opt for cash amid deepening virus fears

Gold edges lower as investors opt for cash amid deepening virus fears

Gold prices edged lower on Monday as a flight to cash to cover losses in equities overshadowed measures by global central banks to contain the economic fallout from the coronavirus epidemic.

Spot gold was down 0.2% to $1,614.46 per ounce by 0346 GMT after Friday's 0.7% drop. U.S. gold futures fell 0.4% to $1,646.60 per ounce.

"The worse the situation gets the stronger the link between stocks and gold because if we see further economic deterioration that will drag gold down with the share markets," said Michael McCarthy, chief strategist at CMC Markets.

Asian shares slid and oil prices took another tumble as fears mounted the global shutdown for the virus could last for months.

The pandemic has already driven the global economy into recession and countries must respond with "very massive" spending to avoid a cascade of bankruptcies and emerging market debt defaults, the head of the International Monetary Fund warned on Friday.

The U.S. House of Representatives on Friday approved a $2.2 trillion aid package – the largest in history – to help cope with the virus-inflicted economic downturn.

The weekend brought more bad news on the virus front, with the global death toll reaching nearly 34,000. The United States has emerged as the latest epicentre, with more than 137,000 cases and 2,400 deaths.

The European Central Bank chief urged wrangling EU leaders to act more decisively to cushion the economic hit of the pandemic, three sources familiar with the matter said. Weighing on gold was a halt in the dollar's slide that came with a broader risk-averse mood, after the greenback surged amid a scramble for cash and then subsided as central banks launched unprecedented liquidity measures.

"The U.S. fiscal stimulus package is positive for the dollar and probably an element of that is coming through the moment. There is negative correlation between the dollar index and gold prices," IG Markets analyst Kyle Rodda said.

Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , rose 1.2% to 964.66 tonnes on Friday.

"I wouldn't say gold's status as safe-haven is over but if things continue to deteriorate economically it could become a funding source and that will offset its safe haven status," said CMC Markets' McCarthy.

Palladium fell 0.7% to $2,253.84 per ounce, platinum slipped 3.3% to $717.07, while silver slid 3.9% to $13.91.


By Asha Sistla
Monday March 30, 2020 01:37


Conditions are ripe for the price of gold bullion to double

Conditions are ripe for the price of gold bullion to double

Gold bullion has not done what it did during the past month since 2008.

The Midas metal GC00, +0.34% shows rapidly rising relative performance against the CRB Index as industrial commodities are crashing due to the coronavirus effect. Gold bullion is staying firm, close to a multiyear absolute high. This dynamic has caused bullion to register a relative all-time high compared with the CRB Index (see chart).

What happened to gold bullion after it registered its previous all-time high relative to the CRB in 2008? It doubled in absolute terms to peak above $1,900 in 2011 (see chart).

We have a similar environment at the moment. Interest rates have been dropped to zero at the fed funds rate level, and the federal deficit will be larger than 10% of GDP (larger than after the 2008 crisis) due to the $2 trillion bailout. Record deficit spending and the Federal Reserve’s quantitative easing (QE) with no preset limits is the perfect environment for gold bullion.

The difference with 2008 is that this is a government-mandated recession. The government has to stop the economy in order to stop the coronavirus. It’s like turning off the circuit breaker on a whole house and having backup power for part of the house only. Second-quarter GDP growth in the U.S. will be down double digits in the 20%-40% range. GDP numbers are reported on an annualized basis, so if U.S. GDP is down 10% from the prior quarter, it is reported to be down 40% on an annualized basis. Third-quarter GDP in the U.S. may be up in double digits because of the same calculation, if the U.S. government has managed to flatten the curve of the infection.

With record deficit spending and interest rates at zero, we may be faced with an environment where the Fed will keep interest rates below the level of inflation for some time until the economy normalizes after the outbreak is controlled. This would be the perfect environment for gold bullion.

Beware of other precious metals

Other major precious metals — silver, platinum and palladium — fell a lot more than gold bullion in the past month, even though they have rebounded some. This is because they are primarily used for industrial purposes; only gold bullion has the majority of it used for precious purposes like jewelry and store of value. If the government-mandated global recession is not over soon, the industrial precious metals should continue to underperform.

Of the industrial precious metals, silver is the most interesting. It is also at a record discount to gold bullion if one looks at the famous gold-silver ratio, which went to 125 at the March extreme, which is an all-time high. That means one ounce of gold could buy you 125 ounces of silver, although we have retreated some on that indicator as silver has rebounded.

Because silver is more industrial than precious, if the coronavirus recession lasts longer, it will take longer to rebound. Be that as it may, it probably offers an opportunity to investors with a two-year horizon. The silver miners exchange traded fund Global X Silver Miners SIL, -6.63% looks interesting on pullbacks, as well as the iShares Silver Trust SLV, -0.66%.

Stay away from leveraged ETFs

The March panic sell-off in the stock market serves as a painful reminder that leveraged ETFs are for short-term traders only, and not for buy-and-hold investors. Losses can cascade and get multiplied by a factor of three on a daily basis, and there will be no coming back for the leveraged investments like Direxion Junior Gold Miners Index Bull 3X Shares JNUG, -21.73% or the Direxion Gold Miners Index Bull 3X Shares NUGT, -16.02% (see chart).

On the other hand, non-leveraged ETFs of gold miners can be interesting. Both the VanEck Vectors Gold Miners ETF GDX, -5.72% and its junior-miner version GDXJ, -8.64% sold off near levels where they were when the price of gold bullion was near $1,200 an ounce.

If there ever was a case of throwing the baby out with the bath water, GDX and GDXJ would be it. But I have never believed financial markets are efficient, so this is an opportunity to use it to your advantage.


By Ivan Martchev
Published: March 28, 2020 at 1:54 p.m. ET



COVID-19’s toll to rattle gold prices next week as US becomes new epicenter

COVID-19's toll to rattle gold prices next week as U.S. becomes new epicenter

A massive three-day bounce in stocks has proven to be only temporary as equities tumbled Friday, once again dragging gold down with it.

One of the biggest news to drive markets next week will be that the U.S. has become the new epicenter for the COVID-19 outbreak, surpassing China and Italy with the number of people infected.

The number of cases in the U.S. surged to more than 100,000, with at least 1,500 deaths. Worldwide there are now more than 590,000 cases and at least 26,900 deaths.

"The spread of the virus will continue to be very important, especially with the U.S. becoming the epicenter now," said TD Securities commodity strategist Ryan McKay.

The world will be watching Italy to see if there will be a flattening of the curve there, McKay told Kitco News Friday.

"If we start to see a solid trend of slowing growth there, it could be a good sign that social distancing measures do indeed work and would sort of give us the timeline as to what to expect over here in North America potentially," he noted.

What makes the news of the U.S. being the new COVID-19 epicenter worrying is the extent of how the rest of the global economy relies on the U.S. market and the U.S. consumer, said Gainesville Coins precious metals expert Everett Millman.

"The fact that the Fed has to use all of its ammunition sets the stage for everywhere else in the world that easy monetary policy and stimulus measures will be the norm for at least several weeks, possibly next several months," he said.

There is still a lot of hope around the $2 trillion stimulus package, which the House passed by voice vote on Friday afternoon.

Stimulus aside however, what concerns the markets is the enormity of the economic damage to the U.S. economy.

"While the stimulus measures being rolled out around the world can mitigate the initial negative fallout from the coronavirus outbreak and help support the eventual recovery, COVID-19's economic toll could be more severe," said FXTM market analyst Han Tan.

And no matter how massive the fiscal and monetary stimulus packages will be, they are all about damage control, not growth, noted ING's Chief International Economist James Knightley. "The U.S. can only grow once the economy re-opens," he said.

U.S. jobless weekly claims were just a sneak peek of the real "data horror show" that's about to be revealed via all the other U.S. macro datasets scheduled for release starting next week, said Nomura Global Markets Research.

Thursday's jobless claims number saw a spike of more than three million, with many people getting laid off amid widespread shutdowns across the U.S.

Jobless claims remain the critical number to pay attention to next week with Capital Economics projecting a climb to five million

"Given that the jump in claims to more than three million appeared to capture only a fraction of the claims reported by some states, particularly California, we are braced for a surge to nearer five million," said Capital Economics senior U.S. economist Michael Pearce.

Friday's nonfarm payrolls data will be slightly less significant because March's survey was conducted before all major layoffs hit the U.S. "The March payroll survey was conducted in the second week of this month and therefore came too early to capture the full hit to the labor market from the pandemic," Pearce noted

Case Study: How AdamEnfroycom Got 11K Email Subscribers in 2019

Email marketing is the most direct and effective way to connect with leads, nurture them, and turn them into happy, paying customers. But you can’t just send out random emails and expect to see results. The best email campaigns start with the best lists, so building a targeted email list should be your top priority. Let’s take a look at how the combination of a lead magnet and OptinMonster’s Exit-Intent technology works for


Adam Enfroy writes about how to scale your blog like a startup to 250,000 monthly readers at He launched his blog in 2019 and started generating over $35,000/month in revenue within 9 months. He wants to teach new bloggers how to start a blog and do the same.

image1 1

Before using OptinMonster, Enfroy was testing out Mailchimp but found its opt-in forms to be lacking. They all required custom coding and didn’t have what he was looking for. At this time, Enfroy was registering about 2 email subscribers per day.

Enfroy turned to OptinMonster with the goal of growing his email list but that wasn’t all he wanted.

The end goal was to generate revenue for his 2 digital products (Backlink Blueprint and Affiliate Advantage) with the plan to launch a higher-tier video course about how to start a blog and promote it to his list.

How Uses OptinMonster

Enfroy uses multiple methods to reach his goals.

For starters, he uses an exit-intent popup to offer a lead magnet. To get the most out of his campaign, he used A/B testing to see how different versions of the campaign performed.

With OptinMonster’s split-testing feature, Enfroy tested different copy and different lead magnets easily.

The winning campaign offers a 15-page checklist on how to launch a WordPress website:

image2 1

This campaign converts 1% of visitors by showing the offer only to users who’ve not opted in already and if they try to exit the site or are on the site for 90 seconds or more.

Enfroy also uses exit-intent for specific affiliate offers:

image3 1

This specific campaign converts at 2.36%. Using campaigns like this, Enfroy brings in more than $20,000 in affiliate revenue each month from more than 65 programs.

One of Enfroy’s highest-performing campaigns uses MonsterLinks™.

The MonsterLinks™ feature turns any campaign into a 2-step optin, using psychology to encourage users to subscribe through the Zeigarnik Effect. This is a simple psychological principle that says when someone starts something (by clicking on a MonsterLink™, for example) they’re more likely to finish it.

image4 1

This campaign converts at a mind-blowing 58.02%!

In addition, Enfroy has inline optins on his homepage, at the end of his blog posts, and in his blog sidebar.

And, he’s happy with the results:

OptinMonster played a huge role in growing my email list from 0 to 11.3k in my blog’s very first year. Before OptinMonster, I was getting just a few email subscribers a day. Now I’m adding over 3,000 subscribers to my list every month. It’s also great for custom page-level affiliate offers to drive sales. I can’t recommend it enough.


Enfroy was able to build a solid email list of more than 11,000 subscribers in his first year with OptinMonster using a combination of exit-intent, MonsterLinks™, and his killer lead magnet.

With OptinMonster,

  • Adds more than 3,000 subscribers to its list every month.
  • Brings in more than $20,000 each month from affiliate sales.
  • Sells 75 digital products each month—a 368.75% increase from when it started!

Summary turned to OptinMonster because it was looking for a better optin builder to grow its email list and boost revenue without having to use the custom coding required by their old solution. What it found was powerful features and targeting rules that helped it maximize its results.

You can do the same!

I enjoy how easy it is to integrate OptinMonster with WordPress and email marketing tools. I also like working with campaign design and display rules. The designer makes it super-easy to add in custom blocks, images, text, etc. And I like how easy it is to optimize your display rules.
Adam Enfroy, Owner,


Optin Monster – Lead generation software optimized for your business. 


ecosystem for entrepreneurs


“First, have a definite, clear practical ideal;

a goal, an objective. Second, have the necessary

means to achieve your ends; wisdom, money,

materials, and methods. Third, adjust

all your means to that end.”

— Aristotle


See You Next Time,

Don Kepple

Having A Successful Home Based Business Made Easy

There are numerous reasons why you might be interested in starting your own home-based business, along with a great deal of doubt, concern and questions. The following article offers some tips and advice to help quell the concerns, and offer resolution to common issues many people face in the operation or start-up of a home business.

Image by StockSnap from Pixabay

Before starting a home business, be sure to research your market fully. If your product is something that your target market doesn't want or need, you won't get many sales. Rather than spending all your energy trying to force the market to buy your product, spend that energy designing and promoting a product the market wants.

If you are going to splurge on any home office furniture, splurge on a very comfortable office chair. You are going to spend many, many hours in this chair and if it is uncomfortable, you will not be as productive as you could be and you could technically, do damage to your body.

Since your home is also your work place, make a point to get out of the house on a regular basis. Don't isolate yourself for the sake of convenience. Go have lunch in the park, grab your coffee at a bookstore, etc. Just make sure you are out breathing fresh air at least once a day.

If you have a business, then you need a budget. How can you run a cost efficient business without a budget? It is impossible, and therefore imperative that you incorporate a well devised budget into the planning process. This budget should include what your expenses are of course and it should itemize them. Make sure you are thorough and include everything so that you are not misleading yourself.

Use your web site to advertise a free product for visitors. This will increase traffic on your site and give potential customers the ability to sample your product. Although it may cost a little money in the beginning, you should make up for it in sales from impressed new customers.

Do not be afraid to post your email address on your web site. Make sure that you include it on every separate page that you have. You do not want potential customers to search to figure out how to get in touch with you. The more effort that it takes them, the more likely they are to go on to something else without purchasing from you.

Make sure you have a support network before starting your home business. This includes family members who need to be aware of the time commitment involved, as well as an external networks you can reach out to for advice or support. Working from home has numerous benefits, but remaining a part of a group outside your home is invaluable.

Making the decision to start a home business or to invest more time in the one you've already gotten off the ground can be a cause of concern. There's so many questions about what to do, when to do it, how to do it, and why to do it, from marketing to overhead to product choice. Whether you just graduated with your MBA or are a stay-at-home mom or dad, you can simplify the answers to these questions by using the sensible advice in these tips.

I cannot end this article and not mention the GREATEST resource for small business on the entire internet.

It is Markethive and you can explore it HERE.

Maxwell Jacobs is the Owner of Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Are you late to the gold price party if you didn’t buy 6 months ago?

Are you late to the gold price party if you didn't buy 6 months ago?

Should you have bought gold six months ago before the world even heard of the coronavirus, which has triggered surging physical demand for gold and could drive prices to new historic highs?

Challenging times like these always draw new people into the gold market, said The Perth Mint global gold market advisor Kevin Rich.

“Gold is attracting more volume from existing gold investors—[But] times like these also always bring new people in,” Rich told Kitco News on Wednesday.

Even though some investors are now disappointed they didn’t buy gold six months ago, the precious metals market is cyclical and experienced investors will tell the newbies that there are still substantial gains to be made.

Some investors might say: ‘I am late to the party and should have bought gold six months ago.’ But experienced investors know that these cycles come and go. It reinforces the safe haven and diversification benefits that savvy gold investors have seen over the years,” Rich said.

To calm the fearful buyers who are scrambling to find some physical gold bars or coins to purchase in what looks to be a very tight market, Rich said not to worry.

“For now, there is enough [gold] to go around,” he said. “Plenty of gold in different formats available.”

It is important to remember that eventually, all global COVID-19 cases will peak and things will begin to normalize.

“For now, any mining or refining closures I think are temporary. This is a historic one-off event that none of us have ever seen … For now, it seems that we are good, but it depends on how long this event goes on,” he noted. “I would anticipate that the curves will start to come down and things will normalize.”

Whether it will take weeks or months, there is still “probably enough gold above ground to make it through that period.”

The massive worldwide demand for physical gold is easily spotted through The Perth Mint’s own business. In March, the mint’s depository business topped $5 billion in value of the precious metals it has sold and is holding for people.

“That’s a record level for them. They are seeing strong demand from investors. A lot of it is coming from Europe, especially Germany. There is demand from U.S. as well,” Rich said.

And even though The Perth Mint is running low on some inventory items, it is adding additional shifts to its refining output to meet some of that increased demand.

“There has been enormous demand for small bars and coins. Some of the inventory has been depleted. They’ll work hard to re-stock,” Rich pointed out. “There is no shortage of the underlying metal behind the refining. It is really just the question of refining capacity right now.”

For now, the gold price action has mostly been about the financial markets than the supply and demand side of things, Rich added.

“Gold prices are really being set with what is happening in the financial markets relative to equities … But over time, as the dust settles, the physical side will have an impact as some refineries around the globe continue to close,” he said.

Both, the financial markets side and the physical side are very constructive for the gold price.

The COVID-19 outbreak has tested gold’s safe-haven status, which proved to investors how valuable it is to have the yellow metal in their portfolios.

“If you look at how gold has performed through the entire pulldown in equities, it performed reasonably well. There was some selling pressure as people were liquidating all assets to meet margin calls and deleveraging. Overall, it proved to be a safe haven,” Rich said. “The reason why people add it to their portfolios was proven once again as it held up through this period.”

Going forward, gold prices could be looking at another historic run higher, especially considering everything the Federal Reserve has been doing as well as the overall low-interest environment globally, Rich noted.

“These monetary packages that the Fed and other central banks are doing are similar to what happened in 2008. Down the road, nine to 12 months from now, there will potentially be an inflationary effect, which is good for gold,” he said.

The patterns of 2008 resemble today’s crisis — first equities sold off in 2008 and gold was selling off, then the Fed stepped in and gold ran up, which started the 2008-2011 historic gold run, Rich explained. “There are similarities to what is happening now,” he added.


By Anna Golubova
For Kitco News

Some price pullback is healthy for gold

Some price pullback is healthy for gold

Consider this, gold has had a price range from Friday’s low ($1457) to Tuesday’s high (1698.60) of $241. If you compare Friday’s opening price ($1470) to Tuesday’s close ($1660) Gold had gained a total of $190 over three trading days. Based on the rapid ascent of gold pricing today’s moderate selloff I believe is healthy.

We have all witnessed markets that have entered what is known as a parabolic rise, or more commonly referred to as a J curve, and on the majority of instances the steeper the climb the harder the fall. Gold has experienced a dramatic price increase from Friday’s open up until Tuesday’s close. Which means that today’s decline of approximately $21 in gold futures is a healthy pullback.

As of 4:45 PM EST gold futures basis the most active April contract is currently fixed at $1640.50. That is just $20 off of yesterday’s close. If we create a Fibonacci retracement from the low of Friday to the high of Tuesday or today, the current decline is approximately at the 23% Fibonacci retracement level. While that is considered a mild pull back, current pricing at $1641.30 is well off of today’s intraday low of $1615.70

Our technical studies currently indicate that major support occurs between $1600 and $1607 which is the 38% Fibonacci retracement. The studies also indicate the first level of minor support at $1643.30, the 23% retracement level.

Another noteworthy aspect of the last two trading days has been that on both occasions traders have moved gold futures as high as $1699.02 days in a row. This creates a candlestick pattern simply known as a tweezer top. This pattern requires two consecutive days to have approximately equal highs. It differs from a tower top or bottom in that that pattern requires multiple candles to find support or resistance at approximately the same price point. We can see an example of that on today’s daily chart which shows a tower bottom occurs at approximately $1458.60.

The other interesting observation about gold pricing over the last few weeks has been the large difference between spot prices and futures pricing. Currently spot gold is trading at $1616.40 which is a net decline approximately five dollars on the day. Compared to current futures pricing at $1643 the differential between April futures and spot gold is roughly $27. In my experience as a former commodity broker, former CTA and now a market analyst I have never seen the differential between spot and futures most current month being this large.

What is more perplexing is that spot is currently below futures pricing and according to a report in MarketWatch, Josh Strauss, partner at money manager Perkin Hardy Strauss in Chicago says that “there is no gold. There’s roughly a 10% premium to purchase physical gold for delivery. Usually it’s like 2%. I can buy a one-ounce American Eagle for $1,800. Kitco reported today that it was out of almost all standard 1-ounce gold coins. American eagles and buffaloes, issued by the US Mint are both out of stock.

Which beckons that we ask the following question; if there is such a shortage now why is spot pricing in gold below the most active April contract of gold futures. One plausible explanation would be that the expecta

Wishing you as always good trading,


By Gary Wagner

Contributing to

What Makes You Happy?

What makes you happy? Have you thought about that? I don’t mean winning a lottery happy, but everyday little things? Recently a dear friend of mine asked me that question.

I had just gone through an extremely difficult time, experienced a huge loss, as well as significant challenges in many areas of my life, all at the same time. I don’t know about you, but I tend to keep these things to myself. I decided, however, to share with her during one of our regular catch up calls what was really going on in my life at the time, instead of putting on a happy face and positive spin on everything, I spilled the beans.

By the way, it’s perfectly OK to feel down and unhappy, just don’t stay there. Recognize and acknowledge the feelings, feel them, then make a decision to let them go. For sure this is way easier said than done, but the choice really is yours. Focus on the good, be grateful.

So, after pouring my heart out, and sobbing, and sharing with her all the stuff that was and had been going on in my life, she said four little words – what makes you happy?

What? Had she not been listening? I told her that I didn’t know what made me happy, nothing made me happy, everything was going wrong in my life. Then this dear friend, who obviously listens when I speak to her, proceeded to list several things that I had told her in the past that I enjoyed and made me happy. Not one or two things, not big winning the lottery things, but small everyday things that I had shared with her that brought joy to my life.

Things like a sunny day, warm weather, the home where I live, the people in my life, the work that I do, watching old movies, eating potato chips, reading a cozy mystery – nothing big or extraordinary, but all the little things that make me happy.

She pointed out that it was time to shift my focus. So, I started to ask myself several times throughout the day, what makes me happy? I found myself thinking that catching the green light makes me happy, a really good cup of coffee makes me happy, my boots make me happy, a warm coat makes me happy – I’m sure that you get where I’m going with this.

It is so easy to get sucked into the quagmire of negativity. Often, we’re not even aware that we have done so, until someone reminds us, or we have an epiphany and ask ourselves how we got to this negative place. And let’s not forget, what we focus on expands.

After a few days of asking myself several times during the day what makes me happy, I began to shift my focus and simply started to feel joy and gratitude for all the wonderful, simple things that really make me happy. If you think about it, it really is the small stuff that brings the most joy into our lives on a daily basis.

Now it’s time to ask yourself, what makes me happy?

And to my dear friend, I say thank you for reminding me of what is important in life.

Best Regards To You From,

Goran B Edstrom – PROUD MarketHive Entrepeneur ONE Member.

Get ready for 2500 gold price this summer – B Riley FBR

Get ready for $2,500 gold price this summer – B. Riley FBR

Massive gold price revisions are hitting the market this week as analysts estimate the impact of the COVID-19 crisis, with one investment bank upping its Q3 and Q4 gold price forecasts to an impressive $2,500 an ounce.

Citing unprecedented fiscal and monetary policy stimulus, B. Riley FBR analysts said on Tuesday that they expect gold to surge to $2,500 an ounce in Q3 and continue to trade at those levels in Q4.

“It has not been our practice to forecast gold price,” wrote B. Riley FBR’s analysts. “[But] due to our conviction in rising gold prices, we are meaningfully raising our gold price deck … to $2,500/oz in 3Q20 … and we feel compelled to align our 12-month price targets to this view.”

The main driver will not be a potentially deep recession or another major drop in equity markets, but extremely low rates along with “unprecedented fiscal and monetary stimulus,” the analysts said.

“Regardless of how much longer recession conditions will continue and how much further general equity markets might retreat, extreme monetary and fiscal stimulus policies being enacted on a global basis will have repercussions,” B. Riley FBR’s note stated. “These repercussions will likely parallel 2009-2011, and drive gold price to new highs.”

Gold miners will greatly benefit from this surge in prices once the economy begins to return to normal more or less, the analysts added.

“We believe the current macro environment has been primed to drive gold prices to the $2,500/oz level. During such a gold price ascent, gold will be the best performing asset class, and gold related equities will be the best performing equity sector,” they wrote.

The investment bank advises its clients to “overweight gold and gold-related equities, and hold a market cap weighted portfolio of our favorite names: NEM, RGLD, PVG, SSRM, and CDE.”

“We also recommend our favorite pre-producers (GSV, SA, SILV), which we view as most likely to be caught up in an M&A wave associated with rising gold prices,” the analysts added.


By Anna Golubova
For Kitco News