Interview with Mark O’Byrne: Gold Down 1% In Week; Up 6% In August and Up 17% YTD; ‘Most Probably Correct’ So Cost Average

• Dale Pinkert interviews Mark O’Byrne about GoldCore, gold’s outlook, bank and electronic risk, bitcoin and cryptos and Swiss storage
• “Don’t just count your pips, bullion coins and bars … count your blessings”
• Gold is 6% higher in August and may correct in the short term so cost average
• Deutsche Bank is a “basket case” and share price has collapsed to all time low (see chart in video)
• Banks in Italy, Ireland and other European nations may go the way of ‘Lehman’ and this makes depositors vulnerable to deposit confiscation bail-ins
• Bank deposit “guarantees” are arbitrary round numbers and will almost certainly be reduced from €100,000, £80,000, $250,000 etc
• Bitcoin is not a proven store of value and crypto currencies are speculative assets. Most will collapse and question is which ones survive
• A secure, trusted gold backed currency may become the “crypto currency of choice” and become a real store of value
• Important to be mindful of electronic (including electromagnetic pulse or EMP risk), hacking and digital risk and not have all your eggs in “digital baskets”
• Rothschild’s warning of the “greatest monetary experiment in history” is understood by the ‘smart money’ who are diversifying into gold bullion again
• Important to take delivery of some gold bullion and own gold outside of one’s home country and Switzerland remains the safest and most liquid jurisdiction
• “Don’t just count your pips, bullion coins and bars … count your blessings”
  
  
  News and Commentary
  
  Gold down 1.1% this week to $1,497/oz; Powell’s speech in focus
  
  China eases restrictions on gold imports
  
  Asian stocks cautious ahead of Powell’s speech; yuan at fresh 11-1/2 year low
  
  Another Asian central bank cuts interest rates — analysts say the region’s not done easing yet
  
  China’s enormous debt ‘no longer can be ignored,’ analyst says
  
  Fed’s Powell will find it hard not to rock markets with his comments Friday
  
  
  

Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

22-Aug-19 1498.70 1502.05, 1234.63 1225.97 & 1351.98 1354.10
21-Aug-19 1499.65 1503.25, 1235.41 1238.53 & 1351.48 1354.43
20-Aug-19 1502.65 1504.55, 1242.69 1239.60 & 1356.44 1357.86
19-Aug-19 1499.35 1496.60, 1236.66 1235.29 & 1350.76 1348.89
16-Aug-19 1509.05 1515.25, 1242.55 1246.14 & 1361.46 1367.82
15-Aug-19 1517.65 1515.65, 1254.49 1250.26 & 1361.48 1363.78
14-Aug-19 1500.35 1513.25, 1241.69 1253.73 & 1341.61 1356.17
13-Aug-19 1527.20 1498.40, 1265.90 1240.38 & 1363.48 1338.67
12-Aug-19 1501.95 1504.70, 1244.82 1243.63 & 1343.64 1341.74
09-Aug-19 1503.50 1497.70, 1242.19 1240.99 & 1342.02 1338.05
08-Aug-19 1497.40 1495.75, 1230.26 1234.14 & 1335.08 1335.70
07-Aug-19 1487.65 1506.05, 1225.82 1239.33 & 1330.11 1341.44
06-Aug-19 1461.85 1465.25, 1199.59 1201.21 & 1304.85 1311.11
05-Aug-19 1457.45 1465.25, 1199.92 1203.85 & 1307.92 1310.23
02-Aug-19 1436.05 1441.75, 1184.17 1187.28 & 1294.02 1298.44

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