How bad do you want millions of dollars in gold? Bad enough to spend 5 years in prison? Would that be worth it to you? For one man it was indeed worth the sacrifice, as you’ll see in today’s first news report—the story of a treasure hunter who refused to disclose where he found 500 gold coins…that human interest story kicks things off. You will also find plenty of straight news about gold prices and more.

Let’s dig in…

Commentary
Treasure Hunter Spends 5 Years in Prison for Refusing to Reveal Location of Hidden Gold

Have you heard about the guy who’s spent five years in federal prison because he won’t give up the location of about 500 gold coins he found in a historic shipwreck? Yes. Five years. How many years would you spend in prison for millions in gold? Tommy Thompson was a diver and treasure hunter. The saga started when he discovered the wreckage of the S.S. Central America back in 1988. The vessel, known as “the ship of gold,” sank in 157 carrying thousands of pounds of gold.

Price
Are Gold Prices Gearing Up for a Christmas Rally?

As this tumultuous year winds down, the gold price seems to be positioning itself for a year-end rally as markets bet on more stimulus next week, analysts told Kitco News. Gold price attempted to push through the key psychological resistance level of $1,900 an ounce this week but ended up settling just below that on Friday. February Comex gold futures were last trading at $1,888.70, up 2.5% on the week. Gold saw a nearly $70 gain this week as Federal Reserve Chair Jerome Powell stressed that the central bank would continue its asset purchases until “the job is well and truly done. We do have the flexibility to provide more accommodation,” Powell added. “The issue is getting through the next four-six months. Clearly, there is going to be a need for help there.”

Commentary
[VIDEO] Let’s Talk about 2021: Topics Include Vaccines, Stimulus, the Dollar, Deflation/Inflation/Hyperinflation, and Precious Metals

Join Silver Bullion TV as they revisit a few things Jay Powell said recently and discuss. They also take a look 5 topics sure to be hot topics in 2021. These are vaccines, stimulus and the dollar, deflation/inflation/hyperinflation which is it, CBDCs, and of course precious metals. Come one come all and share your opinions – we need to hear them.

WATCH VIDEO

Price
Gold Imports Drop in April-November to U.S. Dollar 12.3 Billion

Gold imports, which have a bearing on the current account deficit, fell 40 per cent to USD 12.3 billion during April-November due to fall in demand in the wake of the COVID-19 pandemic, according to data from the commerce ministry. Imports of the yellow metal stood at USD 20.6 billion in the corresponding period of 2019-20. The imports, however, recorded a year-on-year growth of 2.65 per cent in November to USD 3 billion. Silver imports during April-November 2020 too dipped 65.7 per cent to about USD 752 million.

International
China’s November Gold Market See’s Wholesale Gold Demand Rise

Positive news around the COVID-19 vaccine development and a balanced result in the US presidential election (Democratic President and House of Representative; Republican Senate) spurred investors’ risk appetite in key markets, driving gold prices down as a result. In China, with the RMB appreciating and real interest rates remaining considerably higher than many other key markets, gold’s appeal waned for many investors, leading to a weaker performance in the RMB gold price than in the USD gold price in November. Last month, the SHAUPM (RMB) witnessed a 6.8% decline while the LBMA Gold Price AM (USD) fell by 5.5%.

International
Strong Sales in 2020 for Royal Canadian Mint Bullion

Demand for bullion continues to power revenue and activity at the Royal Canadian Mint in 2020, based on the third quarter report released Nov. 23. The RCM increased its revenue by 115 percent in the third quarter as a result of the strong global market demand for bullion. Sales of gold reached 300.1 thousand ounces in the third quarter of 2020, compared to 96.3 thousand ounces in the same quarter of 2019. Silver was also a strong seller in that time frame, notching sales of 8.2 million ounces, compared to 6.6 million year-over-year.

Thanks,
Gold Silver Central