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Gold and silver are facing more bearish times ahead as the global economy heads toward winter (at least in the northern hemisphere) and the medical community is voicing concerns about a coronavirus “second wave.” One economic factor at play in the bear forecast is the automobile market in Europe…The interdependence of the global economy is on display in today’s news—as is Iran’s relationship with Venezuela. (The two country’s leadership regimes have been trading gold for oil.) And speaking of upcoming bear markets, we found a commodities guru that agrees that bearish economies are coming again—but he is not turning away from gold and silver at all. He explains why below.
Let’s dig in…

Commentary
Gold In (And After) the Time of the Coronavirus Pandemic
Here is a video commentary called Gold In (and After) the Time of COVID-19 from John Reade, Chief Market Strategist at the World Gold Council. Reade has been with the WGC since February of 2017 and he is responsible for producing strategy and developing insights on the gold market; he leads the WGC global dialogue by engaging with leading economists, academics, policy makers, fund managers and investors on gold; as well as leading the WGC research team.
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Commentary
Commodity Guru Not Sweating the Gold & Silver Correction
Jim Rogers digs into his overall positive stance on gold and silver, saying he will be buying more every time prices fall. He is warning investors that the next bear market will be like a rabid grizzly, exacerbated by high debt levels. "High debt will be one of the reasons why the next bear market will be a very bad one." In fact, Rogers states that it's not going to be a good decade and it is not a good time to be a young person in the USA primarily due to the fact that the USA is the biggest debtor nation in the world.
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Economy
HERAEUS: WARNING—Price Hazard Ahead as Coronavirus Second Wave Could Crash Auto Sales
Here is a PDF report from HERAEUS you can download at no charge. The report looks at European Union car sales as the EU nations impose more restrictions due to the coronavirus. Includes a Precious Metals Review:
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Economy
Gold Faces More Bearish Pressures Coming
Gold is likely to face further downside pressure, especially if the dollar continues to firm, Howie Lee, Economist at OCBC Bank, reports. XAU/USD has started the week trading listless around $1860. “Gold broke below $1900/oz last week and bulls have not shown any inclination to buy on dips despite prices being at a two-month low. With the dollar expected to continue strengthening in the current risk-off environment, the inverse correlation between gold and the dollar may push gold further down in the immediate future.”

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Commentary
Mixing Gold Back into Mainstream Finance
Here is a video called The Reincorporation of Gold Into Mainstream Finance, a commentary from Shayne McGuire, Portfolio Manager of Emerging Markets and Gold Fund for Teacher Retirement System of Texas. He is the author of The Silver Bull Market. McGuire previously worked as the senior analyst in Latin America for Deutsche Bank, Mexico City. Mr. McGuire has an MBA in Finance.WATCH COMMENTARY
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International
Venezuela Sent Iran ‘Gold Bullion’ in Return for Oil, Says Official
Iran has obtained gold from Caracas in return for the fuel loads it sent to Venezuela, Iranian chief commander of the Islamic Revolutionary Guard Corps (IRGC) announced yesterday. Yahya Safavi explained that the gold was transferred to Tehran by “airplanes to prevent any accident during transit. Iran seeks to transfer its war experience with Iraq [1980-1988] to the countries countering the United States,” Safavi told reporters, referring to Venezuela. Tehran, Safavi added, was providing consultations to Venezuela on “building popular mobilisation forces and preventing cyberattacks. Iran is willing to help any Muslim or non-Muslim country that seeks assistance,” the commander stressed. “We received cash dollars for every assistance we’d rendered to Iraq, but with Syria we have an agreement and we receive certain things in return,” he pointed out. READ MORE
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