As the Chinese central bank (PBoC) in 2024 has secretly bought approximately 600 tonnes with $50 billion U.S. dollars, it’s confident about where the dollar price of gold is going: UP.
My calculations using M1 and with 40% Gold backing is $20,000 oz Gold.
The Central Banks are certainly keeping a floor under Gold and by default Silver too, although the latter is now approaching 70% of supply for Industrial use.
$225 oz Silver? At current GSR of 89, it would make sense.
Great piece.
My calculations using M1 and with 40% Gold backing is $20,000 oz Gold.
The Central Banks are certainly keeping a floor under Gold and by default Silver too, although the latter is now approaching 70% of supply for Industrial use.
$225 oz Silver? At current GSR of 89, it would make sense.
2025 will be a pivotal year for PMs for sure!
Charlie.
Lowercosta.com