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u/Bbmbsmd

r/MetalsOnReddit r/Gold r/economy r/Wallstreetsilver
▲ 17 r/Wallstreetsilver

Towards a more stable future with the rise of electric energy?

We are currently seeing gold and silver prices fall in tandem with the rise in oil prices.

Given the global push to move away from the petrodollar and oil in favor of electric power, how do you see the future trajectory of precious metal prices?

I am not referring to price levels, but rather to stability—though I am aware that "paper" pricing will still be a factor.
Logically, one might expect less volatility in the future. However, market prices aren't always driven by logic. Furthermore, even with reduced dependence on oil, crises of one kind or another will inevitably still occur.

reddit.com
u/Bbmbsmd — 11 days ago
▲ 107 r/MetalsOnReddit+2 crossposts

Hong Kong to launch long-awaited gold clearing and settlement system next week (July 7th)

https://www.scmp.com/business/markets/article/3359239/hong-kong-launch-long-awaited-gold-clearing-and-settlement-system-next-week-sources

AI summary:

Hong Kong plans to launch a highly anticipated gold clearing and settlement system next week, with the first transaction scheduled for Tuesday. Authorities aim to take a significant step toward establishing the city as an influential player in gold price setting.

The launch could trigger short-term volatility in the London market, as gold flows have reportedly already been positioned in anticipation of the new system. The goal is also to shift from a model where Hong Kong acts merely as a "price taker" to one where it plays a greater role in price formation, particularly by attracting more banking participants.

Meanwhile, Hong Kong Exchanges and Clearing (HKEX) plans to waive fees on its US-dollar-denominated gold futures contracts for one year starting Monday, aiming to revitalize the product following several unsuccessful attempts since the 1980s. The initiative seeks to boost liquidity and encourage broader participation.

Eleven banks are expected to participate in trading (including HSBC, JPMorgan, Citi, Standard Chartered, UBS, and several Chinese banks). Finally, Hong Kong aims to strengthen its regional role in gold trading and storage and deepen cooperation with the Shanghai Gold Exchange; the latter notably established an offshore storage facility in Hong Kong last June.

u/Bbmbsmd — 3 months ago
▲ 81 r/Wallstreetsilver+1 crossposts

Is there silver in Fort Knox? Time for an audit! Can't wait to see that! ...if it ever happens

Seen on Eric Yeung's x/twitter.
Trump said that about 8-9h ago.

I can't post this on r/gold (don't know why!), but I thought it might interest you. Thanks to the moderators for their understanding.

u/Bbmbsmd — 5 months ago