Happy New Year, Gold and Silver Report 2 January, 2017

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Published : January 03rd, 2017
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Category : Market Analysis

This weeks is also a short Report, and also a day later than normal, due to the New Year’s holiday. We hope everyone has a healthy, happy, and prosperous 2017!

The prices of the metals moved up last week, except for Friday which was a bump in the road, especially for silver.

Below, we will give an update on the supply and demand picture and the fundamental prices. But first, here’s the graph of the metals’ prices.

The Prices of Gold and Silver
24hGold - Happy New Year, Gold...

Next, this is a graph of the gold price measured in silver, otherwise known as the gold to silver ratio. It rose further this week.

The Ratio of the Gold Price to the Silver Price
24hGold - Happy New Year, Gold...

For each metal, we will look at a graph of the basis and cobasis overlaid with the price of the dollar in terms of the respective metal. It will make it easier to provide brief commentary. The dollar will be represented in green, the basis in blue and cobasis in red.

Here is the gold graph.

The Gold Basis and Cobasis and the Dollar Price
24hGold - Happy New Year, Gold...

The red cobasis line (i.e. scarcity) rose slightly this week. That’s interesting, because the price of gold was up.

We would be reluctant to read too much into the past few weeks, as the holidays affected many market participants. That said, our calculated fundamental price is up to almost $1,220.

Now let’s look at silver.

The Silver Basis and Cobasis and the Dollar Price
24hGold - Happy New Year, Gold...

Unlike in gold, we see that silver became less scarce. Its price did not rise as much as gold’s.

Our calculated fundamental price barely moved. It’s still just over $15.60.

Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
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Keith Weiner is a technology entrepreneur and president of the Gold Standard Institute USA. He was the founder of DiamondWare, a Voice Over Internet Protocol software company, which he sold to Nortel in 2008. He is an Objectivist who has his PhD from the New Austrian School of Economics, with a focus on monetary science. Keith, who currently trades and analyzes precious metals and commodities, advocates a return to a proper gold standard and laissez-faire capitalism. He lives with his wife near Phoenix, Arizona.
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