The gold market is now breaking down. It is impossible to settle COMEX gold futures trades as dealers are unable to secure or transport suitable gold bars to settle against the contracts. While the collapse in air travel is playing a role in the disruption to the gold market, I would argue that the entire leveraged financial apparatus that has manipulated the gold futures markets for decades is unraveling.
The ultimate protection is to hold your own gold physically and not rely on “paper gold” such as ETFs, gold stocks, gold futures, or gold OTC derivatives. The safest way to buy physical gold is to buy gold coins that are certified by a reputable coin grading service, such as PCGS or NGC. I predict that the Premium Over Melt will blow out over the course of 2020, as the true magnitude of the crisis continues to unfold.
Selection of platinum nuggets. JAMES ST. JOHN, WIKIMEDIA COMMONS
UNANTICIPATED IMPACTS
One of the unexpected consequences of the worldwide coronavirus pandemic is the closure of many, if not most, of the world’s underground mines. As workers in these mines work and live close to each other in working environments with limited practical options for improving respiratory conditions, large mining companies, regulatory authorities, and unions are starting to take the sensible decision to shut down mining operations. South Africa just issued an order to shut down all underground mines for three weeks. Other governments are taking similar actions, and I expect that almost every underground mine in the world will cease operating in the near future.
Denne historien er fra June - July 2020-utgaven av COINage Magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra June - July 2020-utgaven av COINage Magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
What Are Semi-Numismatic Coins?
COINS WORTH MORE THAN THEIR WEIGHT IN GOLD
Charles C. Anderson, Sr.
NUMISMATIST OF THE CENTURY
COINS WITH MAGNIFICENT COLORS
GUIDE TO ORIGINAL TONING
John West Dannreuther
NUMISMATIST OF THE CENTURY
Today's News is Tomorrow's Coinage
COINS AS HISTORY IN YOUR HANDS
David Hall's Greatest Idea?
REGISTRY SET CONCEPT EXPANDS COLLECTING
Kagin, McCarthy SWEEP CONTEST
NUMISMATIC LITERARY GUILD TOP 2 BOOK PRIZES AWARDED
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FEVERISH BUYING AT $2,500 AN OUNCE
Stack's Bowers Appoints John Kraljevich as Director of Numismatic Americana
Stack's Bowers Galleries announced the appointment of John Kraljevich, COINage numismatist of the century, to the newly created position of director of numismatic Americana. Kraljevich, proprietor of John Kraljevich Americana since 2007, has been recognized time and again for his scholarship, expertise and leadership.
How the U.S. Dollar Began
THE SPANISH MILLED DOLLAR (8 REALES COIN) WAS THE BASIS FOR THE U.S. SILVER DOLLAR