In this week’s Off The Cuff podcast, Chris and Jeff Clark discuss:
- Central banks are now net buyers of gold
- China and India are buying like crazy
- Why the gold’s prospects haven’t been this good since 2003
- Why silver remains the even better bargain at today’s prices
Several years ago, Grant Williams famously explained bullion’s lackluster price action was because “nobody cares” about gold.
How times have changed.
Gold is back at $1,500/oz and appears to be consolidating in preparation of another move higher. As Jeff Clark tells us in this week’s podcast, suddenly EVERYONE seems to care about gold:
Central banks behind the scenes are actually becoming increasingly gold bullish; not just the Dutch central bank [which recently released a statement claiming that gold will be the world’s backstop for the next financial crisis].
For example, the CBGA, the Central Bank Gold Agreement, that has officially ended. It started in 1999, and was renewed regularly until now. We get to 2019, these 21 central banks jointly announce that they’re going to not renew the agreement. It’s because they’re not selling any more gold; they’re buying gold. So we have that going on.
At the same time, if you remember, we had the Basel III rules that were changed in March of this year where gold became officially treated as a Tier 1 asset. In other words, zero risk. The same as cash.
So all that’s going on, none of which has really made a lot of big headlines. But you combine that with everything else that’s going on, I think there’s a global shift starting to
by adam-taggart-2 
