02/01/2021 - Yra Harris: A Silver Lining In the Madness?

WATCH FOR PLATINUM AS A POTENTIAL UPSIDE BECAUSE IT HAS BEEN SHORTED BY MANY AS A HEDGE AGAINST THE OTHER PRECIOUS METALS AS THE PLATINUM/GOLD SPREAD REVEALS. PL/GOLD closed at -$766 while its 200-month moving average is a POSITIVE $498 so that gives you perspective as to where the metals market are at. Platinum, like silver,has been in deficit of late as demand has out-stripped supply according to metals dealers at KITCO.

Something else to watch. There was a BLOOMBERG article  published January 12 that showed the Russian Central Bank “FOR THE FIRST TIME HOLDS MORE GOLD THAN U.S. DOLLARS IN $583 billion reserves.” The story notes that “gold made up 23% of the central bank’s stockpile” and the “share of dollar assets dropped to 22%, down from more than 40% in 2018.”

Imagine if the REDDIT crowd gets assistance in its efforts from some of the world’s central banks. Wall Street is being challenged by some dynamic forces. Be static at your risk but trade it, don’t invest it.”

LINK HERE to the Blog Post

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.