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Monday Metals,
In today’s precious metals news, you will find several signs that the precious metals surge will be continuing for the foreseeable future.

Let’s dig in…

Price
Gold Still Hasn’t Broke It’s 2011 Record
Spot gold is getting close to its 2011 record and may reach it soon after posting a seventh consecutive weekly advance, which is the longest streak since the same year. Tensions between the U.S. and China are helping to fuel the price rise, along with mounting concerns about global growth, and the coronavirus pandemic. Now, the yellow metal seems poised to gain more ground as the Federal Open Market Committee begins its two-day meeting on Tuesday, with forecasts for no change it its benchmark rate.
SEE WHAT MARK MOBIUS, CO-FOUNDER OF MOBIUS CAPITAL PARTNERS, SAID IN A RECENT INTERVIEW ([link removed])
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Economy
The Gold Rally Says a Lot About the World Economy – and It’s Not Good
Many investors have already forgotten that only a few months ago, the price of gold was in a freefall. The situation was strange looking back—COVID-19 sparks a global economic collapse, which had people scratching their heads at first…but that weird price drop at a time when you would think gold would go up has turned out to be one of the biggest head fakes in recent stock market history. Now, gold is having a ferocious rally. At the close of trading in New York on Friday, bullion had spiraled to $1,902.02 per ounce, which is about 30% higher than the low gold hit in March and just 1% off a record high that was set back in 2001.
READ MORE ([link removed])

Economy
Billionaire Investor Warns of U.S.-China ‘Capital War’ That Will Hit Greenback
He is a billionaire investor who has laid out a scenario where the U.S. vs. China conflict could expand into a ‘capital war’ that will harm the dollar. Based on measures that he says are within the realm of possibility, this founder of a premier asset management firm also is warning investors that loose fiscal policy and ideological divisions are pushing the U.S. into decline. “There’s a trade war, there’s a technology war, there is a geopolitical war and there could be a capital war,” he said. “If you say by law ‘Don’t invest in China,’ or even possibly withholding the payment of bonds that the United States owes payment to China – these things are possibilities, and they have big implications, such as for the value of the dollar.” SEE WHO THE MYSTERY BILLIONAIRE IS AND WHAT ELSE HE HAD TO SAY ([link removed])
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Economy
This Large Bank Warns Gold is the Only Edge Left for the ‘Great Debasement’
Bank of America says there are just two themes one needs to know to explain the current “market” (the same market that is heavily manipulated according to Bank of America)—1. The Great Repression, a.k.a. “don’t fight for the Fed”—according to BofA CIO Michael Hartnett is the outcome of $8 trillion in central bank asset purchases in only three months in 2020—this has squashed interest rates, corporate bond spreads, volatility & bears. That’s what this article from Zero Hedge reports…The most perfect example of this repression is the U.S. fiscal deficit soared from 7% to 40% of GDP in Q2’20:

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Latest News
Ethereum & Other Precious Metals Flying High
Ethereum (ETH) saw its price soar 13% out of an 8-week consolidation. The week’s gains sent prices to multi-month highs and left ETH testing levels not seen since February, according to the Tradestation website. Ethereum had shown subtle relative strength in recent weeks versus Bitcoin (BTC). BTC and ETH are both consolidating for several weeks, however, ETH seemed to tip its hand last week when it finished toward the top end of the price range while BTC continued to consolidate toward low-end price support. BTC has lagged in the short term and remains…

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International
Furuya Metal Becomes First Japanese Precious Metals Company to Establish Join Venture with Major Precious Metals Producer in South Africa
The goal of this partnership is to help achieve a sustainable society through freshness-maintaining, mold-inhibiting, antimicrobial environmental products that utilize FT-eco catalysts. That is what Furuya Metal Co. is in the process of achieving. They recently changed their company name to “Furuya Eco-Front Technology” on May 27, 2020, which will handle environmental businesses that capitalize on low-temperature active catalysts, and that on July 1 it signed an agreement to form a joint venture with…

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Thanks,
Gold Silver Central

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