How is your Tuesday?

Bitcoin is on everyone’s mind today after what happened last night. We have news on this for you included.

We also have a forecast that says silver could double its price again in 90 days.

Hope you enjoy today’s precious metals news.

Let’s dig in…

Latest News
Bitcoin Drops Like Lead Weight: 20% Tumble for Worst Crash Since March

The week is off to a bearish start for cryptocurrency as the price of Bitcoin fell nearly $10,000 from its Friday high of nearly $42,000, temporarily ending an unprecedented rally. On Monday morning, Bitcoin was trading under $33,000—a more than 20% drop from its recent high—while some other cryptocurrencies fell still further. The fall in crypto value comes amid a broader retreat on Monday for stocks, and a resurgence in the U.S. dollar.

Commentary
BIS Steps in to Help Gold Market Because the Financial Markets are About to Go to Hell

Donald Trump is probably the luckiest presidential candidate in history to have lost an election. He doesn’t realize it yet as he suffers from a self-inflicted wound in the final moments of his presidency. Nor does Biden yet realize how unlucky he is to have won. But that will soon change as Biden’s presidency goes from crisis to crisis in all areas from monetary to fiscal to social and political. Very little will go right during his presidency. The next four years could easily be four years of hell for Biden, for the US, and thus for the world. That is if Biden stays the course for the whole four years.

International
Deutsche Bank to Pay $130 Million to Settle U.S. Probes on Foreign Bribery and Fraud Charges in Precious Metals Trading

Deutsche Bank will pay $130 million to settle a foreign bribery probe and fraud charges in precious metals trading, US officials announced Friday. The bribery case relates to illegal payments and to false reporting of those sums on the bank's books and records between 2009 and 2016, the Department of Justice said in a press release. The bank "knowingly and willfully" kept false records after employees conspired with a Saudi consultant to facilitate bribe payments of over $1 million to a decision maker, the DOJ said. In another case, the bank paid more than $3 million "without invoices" to an Abu Dhabi consultant "who lacked qualifications... other than his family relationship with the client decision maker," the DOJ said.

International
Precious Metals Mining Company Achieves Record Gold Production in 2020

Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) announced preliminary production results from both of its mines in Bulgaria and the Tsumeb smelter in Namibia for the three and twelve months ended December 31, 2020. DPM met or exceeded production guidance at each of its operations, with total gold production for the year being at the high end of the Company’s 2020 guidance range. “2020 was another milestone year for DPM, as we delivered record gold production and met or exceeded our production guidance at each of our operations,” said David Rae, President and CEO. “Our impressive operating results throughout the year reflect outstanding efforts by our teams to effectively manage the challenges of the COVID-19 pandemic while continuing to prioritize the health and safety of our workforce and local communities.”

Price
Watch: Silver Might Double Again in 90 Days

We can likely all agree, the last year 2020 was off the charts strange. Well, the calendar year has changed, but the weirdo event trend has not. Just like much in our modern-day lives, the bottom-line truth about what happened in the storming of the US capital building this past Wednesday, January 6th, 2021 will likely never be known nor understood fully. Reportedly five people died from this may lay, the FBI is now on manhunts for those involved. Some lawmakers call for President Trump to be impeached and launched from his office before the coming Jan 20th inauguration of Joe Biden.

Commentary
Fresh Take on Gold’s 2021 Outlook

The COVID-19 pandemic has dominated the headlines in 2020 as the driver primarily responsible for pushing gold to its all-time high of $2,067.15 an ounce on August 6.1 but growing uncertainties and risks — both economic and geopolitical — along with lower for longer interest rates, have also been major contributors to the strength and momentum of gold’s price this year. Evidenced by positive gold ETF inflows during 2020,2 gold provided many investors with valuable portfolio diversification, helping them to navigate volatile markets and liquidity needs. Despite some positives emerging recently, the year ahead looks as though it may offer up more opportunities for gold to play a potentially important strategic role in investors’ portfolios to help position for the highly changeable landscape on the horizon.

Thanks,
Gold Silver Central