You are here

Craig Hemke at Sprott Money: A crisis of confidence endures with gold futures

Section: Daily Dispatches

8:36p ET Tuesday, April 7, 2020

Dear Friend of GATA and Gold:

The gap between the spot prices for gold and silver and the prices for near-term gold and silver futures contracts remains high, the TF Metals Report's Craig Hemke writes tonight at Sprott Money, signifying tight supply of the metals and concern that delivery of spot purchases by arbitrageurs might not be made before the arbitrageurs would be obliged to deliver against the futures contracts they had sold.

When this gap opened last week, Hemke notes, the "system apologists and shills" claimed that there was plenty of metal but that it was just in the wrong places amid delays in delivery caused by the coronavirus epidemic. But the gap continues this week, indicating that deliveries still have not been assured.

... Dispatch continues below ...


ADVERTISEMENT

USAGold: Coins and bullion since 1973


USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.



Hemke concludes: "Understand that demand is increasing for gold and silver in all their forms. Prices of precious metal and the miners will continue higher as 2020 progresses, regardless of the efforts of the banks and the London Bullion Market Association and CME Group to sustain faith in their fractional-reserve and digital derivative pricing scheme."

Hemke's analysis is headlined "A Crisis in Confidence" and it's posted at Sprott Money here:

https://www.sprottmoney.com/Blog/a-crisis-in-confidence-craig-hemke.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651...

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16