Three Steps Forward, Two Steps Back: - Weekly Wrap-Up (March 1, 2019)
March 1, 2019
The month of March is here, but it’s hardly coming in like a lion. Silver is flat on the year, and Gold is only up about $20. But will precious metals roar back?
In this edition of the Wrap-Up, Eric Sprott breaks down the week’s gold and silver news, including:
- What’s behind the current pullback.
- The surprisingly good silver news from the U.S. Mint.
- Plus: the latest on the shares, palladium, and more.
“The thing I found most interesting is how all of a sudden, on the financial networks, the narrative has changed. And the narrative, in the words of the data folks, always follows performance. And the narrative now is: ‘Oh! Yields are going up. Stocks are going up. We must have some kind of economic recovery going on!’ … And all of a sudden the need to have gold is diminished. I would suggest that the reason we’ve had this turn… is because the People’s Bank of China instructed their banks to lend 30% more to small businesses this month.”
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