#

Considered by many to be the most dangerous roller coaster in the world, the Kingda Ka in Jackson, New Jersey is a steel monster that is also the tallest roller coaster in the world, with the ability to launch its cars at 128 miles per hour in 3.5 seconds…riding the Kingda Ka must feel what its like to be a rhodium investor this year—we have some price news on rhodium that shows just how stomach-churning the ride has been for investors in 2020.
We also have news for you today on silver, Switzerland gold imports to their refineries, the gold options market, a look at why precious metals were hammered last week, and a forecast for gold in 2021 you will like if you are buying bullion.
Let’s dig in…

Price
Rhodium Skyrockets to All-Time High as Market Factors Close In
Investors in Rhodium must be feeling like they are on one hell of a roller coaster ride, as the price has rocketed from $6,050 an ounce at the beginning of 2020 to a new record of $13,800 an ounce by March 10. Then, the price plummeted to $7,800 an ounce before the end of March as the coronavirus affected the global economy. Then this past week Rhodium hit a NEW all time high of $14,490 an ounce before slipping to just below $14,000 on Wednesday. Like its sister metals palladium and platinum, rhodium’s main application is…
READ MORE ([link removed])
([link removed])

Price
Silver Prices Plunge—is The Party Over?
2020 has been a good year overall for silver—including multi-year highs by record amounts of cheap cash and a weak U.S. dollar. However, as we head into Q4, investors enthusiasm for the grey metal is cooling off, and silver is poised to see its biggest monthly drop in nine years. From the happy high of $30 an ounce in August, September hasn’t been kind to silver—almost a quarter of its value has been lost this month so far, and it appears the price will fall to its lowest point since September of 2011, when it fell by more than 27%.
READ MORE ([link removed])

Stock Market
Gold Options Market Leans into Bearish Bias for Past Four Months
Gold's options market shows the strongest bearish bias in 4-1/2 months, according to data source Reuters. One-month risk reversals (XAU1MRR), a gauge of calls to puts, fell to -0.475 in favor of puts, the lowest level since May 14. The gauge traded at 0.625 in favor of calls on Sept. 21, having peaked at 2.125 on Aug. 7. The decline indicates investors are adding bets (put options) to position for losses in the yellow metal.
READ MORE ([link removed])
([link removed])

International
Switzerland Wants More Segregated Imports Through Customs for Better Transparency
On Thursday, the Alpine nation submitted a proposal to the World Customs Organization (WCO) to amend the current classification of gold for international customs duty. Currently the WCO’s harmonized system has a single code for unwrought gold (impure gold that needs further processing). This means that it is not possible for the system to differentiate if the gold imported into a country was refined or unrefined. By getting customs around the world to differentiate between mined gold and bank gold Switzerland “wishes to improve the traceability of supply chains and to obtain more accurate statistics”. A fifth of the world’s gold trade passes through Switzerland.

READ MORE ([link removed])

Commentary
Why Did Precious Metals Get Hammered Last Week?
Precious metals markets got clobbered early this week as gold and silver broke down from their high-level consolidations. Strength in the U.S. Dollar Index seemed to be the catalyst that got the selling going. Once key technical levels got breached, the selling intensified. Gold prices fell below the $1,900 level on Wednesday. Meanwhile, silver plummeted below $24 an ounce and traded as low as $22 on Thursday before recouping some of those losses by the end of the trading day. Some of the volatility seen in metals and equity markets in recent days is attributable to the failure of Congress and the White House to agree on a new stimulus package, with the focus shifting to filling the Supreme Court seat once held by the late Ruth Bader Ginsberg. Although the economy is in the process of rebounding from the deep second quarter contraction caused by virus lockdowns, it is far from fully healed.READ MORE
([link removed])

Commentary
This U.S. Investment Bank Predicts Gold at $2,200/oz in 2021
US investment bank Jefferies expects gold prices to average US$2,200/oz in 2021 on the back of low interest rates and the possibility of further weakness in the US dollar. HERE’S WHY JEFFRIES HAS INCREASED ITS FORECAST FOR BOTH GOLD AND SILVER IN THE NEAR TO MID-TERM ([link removed])
([link removed])

Thanks,
Gold Silver Central

© Gold Silver Central. 2020
Gold Silver Central
848 Gold
N. Rainbow Blvd. #3975 Las Vegas, NV 89107

This email is intended for [email protected]. To unsubscribe visit
[link removed]