In this presentation, Jeffrey Christian of CPM Group provides a precious metals update covering the gold price outlook, silver market analysis, COMEX deliveries, precious-metals fraud, storage programs, and the importance of independent audits.
CPM Group expects gold to trade broadly between approximately $3,800 and $4,150–$4,200 during August. Jeffrey discusses the technical levels affecting gold. He also looks ahead to the Federal Reserve’s Jackson Hole conference. The August COMEX delivery process has unfolded normally and is unlikely to provide additional upward pressure.
Silver continues to test the $60 area. CPM would not be surprised to see another temporary move below $56 during August. The outlook becomes more constructive during the final four months of the year. Political, economic, inflation, and currency concerns could support stronger investment demand for gold and silver. CPM remains less optimistic about platinum and palladium because their industrial fundamentals are weaker.
Jeff then discusses fraud and the danger of weak auditing practices. He explains why fraud often becomes visible when economic conditions deteriorate. He reviews the enormous investor losses associated with the internet stock bubble and the mortgage crisis. He also discusses current risks involving artificial intelligence, cryptocurrencies, private equity, and private debt.
CPM thanks Monetary Metals for making this paid CPM research available to our viewers.
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CPM Group
CPM Group is a commodities research, consulting, financialadvisory and commodities management firm providing independent research,analysis and advisory services related to commodities markets, corporate andproject finance, and the financial management of exposure to commodity orientedinvestments.
We started our business in 1986 predicated on the idea that commoditiesresearch and advice is best delivered by independent experts who do not work forbanks, brokers, mining companies, or any other entity that has interests thatcould conflict with the best interests of the clients receiving the research,analysis, and advice.
All of our work is driven by fundamental commodities research and economicanalysis. As we undertake our research into individual commodities markets wegather a tremendous amount of information and develop an enormous body ofextremely high quality, unbiased analysis of the markets and the companies thatare involved with individual commodities. The outputs of our research andanalysis take the form of research reports, specialized and targeted consultingrelated to these markets, financial advisory services ranging from corporate andproject finance structuring to equity introductions, and managing specificcommodities and investment positions for clients.
CPM Group continues to demonstrate the economic value and financial worth ofsuperior research, information, and analysis. Our research is based onmicro-economic analysis of the individual components of each commodity market,wedded with a top-down macro-economic analysis of the global trends affectingthese markets. We apply the results of that analysis to our research,consulting, and advisory services.
