Everybody Is Bullish On Gold 所有人都看涨黄金

Gold has been rallying for the last 4 days and the rallies of  the last 2 days are the biggest in recent memory if not the biggest in history. The upward surge in the last 4 days basically recovered the 1/2 month of downward slide.  Buying interests are back in to gold. Gold touches 1700 today, since it's a resistance, and it hesitates to go through. I think it will go through tomorrow as the congress passes the coronavirus stimulus bill.

The gold ETF GLD also moves in step with gold.

However the 3 time ETFs for Junior Gold Miner Index JNUG and Gold Miner Index NUGT are both down sharply from a month ago. They lost  96% and 89% respectively. They are too cheap to ignore.
The will likely trying to catch up in the coming days.

。 Goldman raises both the near and long-term gold outlook, saying they are “far more constructive,” reaffirming their 12-month target of $1,800/oz. A month ago, Goldman Sachs suggested there is more to come for precious metals as with rates getting closer to their lower bound, gold looks increasingly like the safest haven. At the start of March, Goldman's head of commodity strategy said there is one commodity that will be safe: gold "which - unlike people and our economies - is immune to the virus." Jeffrey Currie and Mikhail Sprogis are saying"We are likely at an inflection point [for gold] where 'fear'-driven purchases will begin to dominate liquidity-driven selling pressure as it did in November 2008."---ZeroHedge

。BNP Paribas analyst Harry Tchilinguirian told Kitco News on Monday that this is the "perfect time to hold some gold." He noted that real yields on U.S. Treasuries are negative, which means the opportunity cost of holding gold is nonexistent. He also pointed out that Treasury Inflation-Protected Securities (TIPS) 10-year bonds are hovering around -50 basis points, marking record lows. However, he also believes TIPS yields have room to move even lower. With rates as low as they are, Tchilinguirian believes the gold price could rise to between $1,700 and $1,725 an ounce.Some gold outlooks price the yellow metal even higher—at $2,000 an ounce. According to Business Insider, RWC Partners portfolio manager Clark Fenton said in a research note that the gold price could surpass $2,000 at some point this year, especially since the Fed's emergency rate cut.---Yahoo finance

。According to Kitco, silver sales are skyrocketing: “Data from the U.S. Mint shows that it has sold 2.32 million one-ounce silver coins so far this month, up significantly from February sales of 650,000 coins.” And based on wholesale cost over spot price for 1 oz bullion American Eagles, premiums for physical products are soaring higher. Gold is selling at about a 6% premium and silver is selling at an 86% premium. Both of these figures are well over their averages from earlier in the year.  Brandon Smith of Alt-Market.com argues, “Crash conditions will likely inspire more and more people to demand physical delivery on precious metals over the course of 2020, as fears of paper market shutdowns due to the pandemic grow.”---ZeroHedge

。Veteran emerging-market investor Mark Mobius anticipates strength in gold. Its recent sell-off alongside risk assets such as stocks and oil is a sign of pure panic, with investors selling everything as the coronavirus pandemic spread, he said.“I think it’s a mistake. People should have gold and this may be a good time to increase holdings in gold -- in fact I’m thinking that myself,” he said.---Bloomberg

。The key financial leaders from G7 nations said in a statement Tuesday that they will do “whatever is necessary to restore confidence and economic growth and to protect jobs, businesses, and the resilience of the financial system.“In addition to major efforts by the Federal Reserve, other central banks around the world have also announced major programs to help support economies during the pandemic, including the European Central Bank and the Bank of England.The central banks “pledge to maintain expansionary policies for as long as needed and stand ready to take further action, using the full range of instruments consistent with our mandates,” the statement said. ---CNBC





黄金在过去4天一直在上涨，过去2天的涨幅即使不是历史上单日最大的涨幅，也是近期记忆中单日最大的涨幅。 最近4天的上升幅度基本上恢复了1/2个月的瀑布式下跌。 购买兴趣重新回到黄金。 今天金价触及1700，因为是个阻力而犹豫不决。 我认为明天会随着国会通过冠状病毒刺激法案而突破。

黄金ETF GLD也与黄金同步上升。

但是，三倍小型金矿股指数ETF JNUG和三倍金矿股指数NUGT从一个月前价位大幅下跌。 它们分别损失了96％和89％。 它们太便宜了，不容忽视。未来几天可能会努力追赶金价的上升。

。高盛提高了黄金的近期和长期前景，称它们“更具建设性”，重申了其12个月目标1800美元/盎司。 一个月前，高盛（Goldman Sachs）建议，随着利率接近其下限，贵金属将有更多的发展空间，黄金看起来越来越像是最安全的避风港。 高盛（Goldman）大宗商品策略负责人在3月初表示，有一种商品是安全的：黄金“。与人和我们的经济体不同，黄金对病毒免疫”。 杰弗里·柯里（Jeffrey Currie）和米哈伊尔·斯普罗吉（Mikhail Sprogis）说：“我们可能正处于一个拐点（对于黄金而言），与2008年11月一样，'恐惧'驱动的购买将开始主导流动性驱动的抛售压力。” --- ZeroHedge

。法国巴黎银行（BNP Paribas）分析师哈里·奇林吉安（Harry Tchilinguirian）周一对Kitco News表示，这是“持有黄金的最佳时机”。他指出，美国国债的实际收益率是负数，这意味着持有黄金的机会成本不存在。他还指出，美国国债通胀保护证券（TIPS）的10年期债券徘徊在-50个基点附近，创下历史新低。但是，他还认为，TIPS收益率还有进一步下跌的空间。Tchilinguirian认为，由于目前的利率很低，因此金价可能会升至每盎司1,700美元至1,725美元之间。一些黄金的前景展望甚至将金价目标提高至2,000美元/盎司。据Business Insider称，RWC Partners投资组合经理克拉克·芬顿（Clark Fenton）在一份研究报告中表示，金价今年某个时候可能超过2,000美元，特别是自美联储紧急降息之后。--雅虎财经

。Kitco表示，白银的销售量直线上升：“来自美国造币厂的数据显示，本月到目前为止，它已经售出了232万个一盎司的银币，比2月份的65万枚大增。”基于1盎司金银美国鹰的批发价与现货价的比较，实物产品的溢价飙升。黄金的溢价约为6％，白银的溢价约为86％。这两个数字均远高于今年初的平均水平。 Alt-Market.com的布兰登·史密斯（Brandon Smith）表示：“随着对病毒大流行导致纸金属市场关闭的担忧加剧，崩溃状况可能会激发越来越多的人要求在2020年内对贵金属进行实物交割。”---ZeroHedge

。经验丰富的新兴市场投资者Mark Mobius预计黄金将走强。 他说，它最近的被抛售以及股票和石油等风险资产是纯粹的恐慌迹象，因为随着冠状病毒大流行蔓延，投资者不惜抛售了一切。他说：“我认为这是错误的。 人们应该拥有黄金，这可能是增加黄金持有量的好时机-实际上，我在想自己。”他说。---Bloomberg