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On this Thursday, we take a look at the news on several metals: gold, silver, palladium, nickel, and platinum. You will also find news on Bitcoin, the Fed’s quantitative easing in relation to U.S. debt, and some metals news from Mongolia.
Let’s dig in…

Economy
Federal Reserve Not Keeping Pace with U.S. Debt
Here is the blunt truth (using math): The Fed would need to double its usage of quantitative easing to keep pace with the U.S. debt. The US government is increasingly relying on the Federal Reserve to prop up the Treasury market and absorb the trillions of dollars in bonds it’s issuing in order to fund its massive budget deficits. The Fed now holds a record 16.5% of US debt. And it’s going to have to buy trillions of dollars of additional Treasuries in 2021 to keep pace with government borrowing. In other words, there is no end in sight to quantitative easing. In fact, the central bank will have to double its scheduled monthly QE in 2021 to catch up to where it was in 2020. In the last 12 months, the Fed has…
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Commentary
[INTERVIEW] Jim Cook Talks to Ted Butler About the Silver Market
Cook: What is the reason for the extreme price volatility in the silver market?
Butler: We're reaching the end of the line, in terms of the final resolution and the train is shaking so much, it looks to be coming off the tracks.
Cook: Is this a good thing?
Butler: It is the best thing possible because it signifies an end to the price control.
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Stock Market
Nornickel Plans to Sell Less Palladium, Nickel than Produced in 2020
Russia's Norilsk Nickel will sell slightly less nickel and palladium than it produces in 2020 as the Covid-19 pandemic reduced industrial demand, the world's leading producer of the two metals told Reuters. Demand has risen in some sectors since a slump caused by the first wave of the pandemic early this year but is unlikely to reach its pre-crisis level until 2022, Nornickel said. "Some sectors have started to breathe, such as the carmaking industry, some are not feeling very good as of yet - such as the air travel sector," Anton Berlin, head of Nornickel's sales, told Reuters.
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Commentary
[VIDEO] Bloomberg Quicktake: Gold or Bitcoin?
Bitcoin has shot to a record just as billions of institutional dollars have fled gold.
Whether that’s a simple coincidence or the start of a rotation that would have a profound impact on crypto and the precious-metals market is impossible to know for sure. But the debate is now heating up on whether the world’s largest digital currency can one-day rival bullion as an inflation hedge and portfolio diversifier.
Bitcoin’s tumble last week, the biggest since March, after a 150% run-up this year underscores the famous volatility of the asset class that has kept mainstream investors at bay. Yet if they start moving just a small portion of their gold holdings into the $350 billion Bitcoin industry, it would be a game-changer for diversification strategies on Wall Street.

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International
Bank of Mongolia Buys 1.7 Tons of Precious Metals in November
The Bank of Mongolia purchased 1.7 tons of precious metals in November. Total amount of precious metal purchases has reached 21 tons since the beginning of this year growing by 6.5 tons, Montsame reports. 19.3 tons were gold and 1.7 tons were silver. The BoM branches in Darkhan-Uul and Bayankhongor aimag bought 106.5 kg and 98.7 kg of precious metals respectively in November, bringing total amount to 1.8 tons. The average price of BoM’s purchase of 1 gram of gold was MNT 170,810.51 in November.
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Price
[VIDEO] Platinum Prices Rally 19% In November
Bill Baruch of Blue Line Capital joins CNBC’s “Halftime Report” to break down his outlook on platinum prices.
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Thanks,
Gold Silver Central

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