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This week has seen some interesting developments in the precious metals industry. Today, we look at some recent news on the price of gold, another story on how two industry titans are partnering on a blockchain platform for metals and mining, expert advise on why you need some gold in your portfolio, a report on Invesco and their recent fee reduction on gold, and much more.
Let’s dig in…

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Price
Gold Tumbles Below $2,000 as Dollar Strengthens
The yellow metal is now traveling on a downward path of correction is trading around $1990, a shape fall of over $33 on the day, and a total of $85 from the all-time high of $2,075. The 2011 peak of $1921 is a distant support line, but XAU/USD may find support at around $1950. The U.S. dollar has gained ground recently, which is putting pressure on gold. Silver is also sliding, changing hands below…
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Stock Market
Two Industry Titans Partner on Blockchain Platform for Metals and Mining
Skuchain, a U.S. based blockchain company, has partnered with Mitsubishi Corporation RtM Japan, the metals and mining trading subsidiary of Mistubishi, to launch the ECO platform for precious metals trading. The blockchain-based supply chain management and finance called Skuchain’s proprietary EC3. What ECO does is facilitate trade by generating, managing and executing invoices and confirmations between counterparties. Who owns this network? Mitsubishi—they will include their largest customers as initial members, and then strategize ways to expand deeper into the supply chain. Features will be added to ECO on a regular basis, keeping the platform up to speed, according to the company. With ECO, parties can take documents used in trade transactions, such as…
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Commentary
Why This Expert Advises His Clients to Put Gold in Their Portfolio
The buzz around gold has drawn in many curious investors who, before the pandemic, were not particularly interested in gold and other precious metals. The excitement has grabbed their attention, along with FOMO (the ‘fear of missing out’). Now, many of these folks are buying into the gold market, and the entrance point for many is through the purchase of ETF units. ETF stands for “exchange-traded fund”. The author of this article—Sebastian Bowen—writes that the buying of ETFs can result in a “positive feedback loop” that can cause a “temporary exponential” rise in prices. He writes, “Normally, I would caution against anyone jumping on a bandwagon like this. It does have some hallmarks of being an asset bubble in the making. After all, anyone who tried to buy into gold when the last record high was hit in 2011 has had 9 long years of… READ MORE
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Economy
Invesco Reduces Fee on Physical Gold ETC After Record Inflows
Analysts from Invesco are reporting that gold exchange-traded products listed in Europe raised more than $10 billion of net new assets in 2020 to the end of July, with $1.4 billion of inflows occurring during the final month alone. Invesco’s Physical Gold ETC contributed over half of these inflows during July. Gary Buxton, head of EMEA ETF at Invesco, said: “For more than a decade, our gold ETC has provided investors with an efficient way to gain exposure to the performance of the gold price. As the ETC has grown significantly in size, we have been able to share some of the economic and operational advantages with our investors. We are now doing this again with a fee cut.” This is the second time in 2020 the firm has the fund’s fees, following a two basis-point reduction in…

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International
Free Europe/US/Asia Market Update
The MKS PAMP Group offers you this free PDF, which includes macro bullet points, precious metals bullet points, and pre-Asia comments. GET THE FREE REPORT HERE
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Price
This CEO Expects Gold Prices to Settle at New Base
Listen in as Barrick Gold Corp. CEO Mark Bristow talks about the gold price forecast and his company’s second-quarter earnings.WATCH HIS APPEARANCE ON BLOOMBERG MARKETS ([link removed])
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Thanks,
Gold Silver Central

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