From the Heraeus Weekly Bulletin:
GOLD:
The Fed's restrictive monetary policy could continue to put pressure on the gold price for some time to come. Fed Chair Powell reiterated his hawkish outlook for the July monetary policy committee meeting. He stressed that the policy may not be restrictive enough and has not been sufficiently strict for long enough. This, coupled with a slew of encouragingly positive US economic data over the past two weeks, has fueled market expectations for further rate hikes. Bond traders now expect the first rate cut to occur in May 2024 and rates to peak in late 2023. The dollar is therefore likely to remain firm and the attractiveness of interest-free assets will continue to fall, likely creating headwinds for gold over the next 10 months. There is a risk that particularly restrictive monetary policy will plunge the US economy into recession, as numerous leading indicators are pointing to. The economic uncertainty that accompanies a recession could become a catalyst for a firmer gold price.
The drop in gold prices could be tempting for Indian consumers. Local gold prices in India have fallen 6.4% to ₹5,016/g since early May. In the typically price-sensitive market, this could be seen as a buying opportunity for "bargain hunters". The local gold discount has narrowed this year, suggesting that demand in the second largest gold consuming market is gradually picking up after a weak first quarter. Demand in India was 113 tonnes in the first quarter of 2023, down 17% year-on-year (World Gold Council). Since the collapse of US regional banks, market uncertainties have eased, removing a supportive factor for gold. Gold prices are down 7.8% from their peak at the time to close last week at $1,919/oz after successfully defending the technical support level at $1,900/oz.
SILVER:
Future silver demand for PV applications looks good for Europe. European solar startups have raised $6 billion year to date, five times the funds raised by companies in the same period last year. Installed PV capacity in Europe increased last year by 20% to 237 GW (source: IRENA). Although China accounts for around 80% of solar module production, the EU is targeting 30 GW of domestic production by 2025. This would have accounted for about 75% of last year's new installs. As regional production grows, demand for silver pastes used to coat cells in Europe is also likely to increase. In 2022, global demand for silver paste for PV cells reached a record 140 million ounces or 4354 t (source: The Silver Institute). This value is likely to increase again after 2023, as demand will increase due to the rapid expansion of renewable electricity generation and savings measures in silver use per cell will exceed. Silver was flat last week, closing slightly higher week-on-week at $22.74/oz.
Trust comment:
The Heraeus newsletter now reflects what the Trust feared last summer: The rising interest rates of the current Great Reset may put even more pressure on gold and silver prices, which could at least open up a gigantic post-purchase opportunity, maybe the last, before the real money of God will reveal its real purchasing power to all the world and every gram will be given a whole new evaluation.
David Blair Macrory presents the current chart situation well:
Silver is now really faced with the decision, so to speak, the last chance for a quick fulfillment of the silver and gold bull dreams or just another price drop with the best purchase prices.
If you've looked at gold lately, it's been very weak - even when the dollar fell, gold fell with it to some extent. Last week we were below $1900 for a short time.
Nevertheless, the worldwide "awakening" process is running, which is no wonder, since the worldwide processes are increasingly revealing their absurdity.
The nation of Ephraim has therefore positioned itself early to enable the coming transition to the heavenly kingdom of peace for all. In addition to the mandatory conversion of the financial system to gold and silver at a certain point in time X, it was clear that the current timetable is based on the Bible and that the answers to all questions can also be found here.
With the Silver TempleCoin from the Ephraim National Gold & Silver Trust, we have made the biblical half-shekel available for all the world to bring to the world the future legal system of Hashem. Our cooperation with the Jews in the Holy Land proves us right.
If you want to know more about the background of the current worldwide developments, sign up on the TorahClub.com and begin to understand how the developments around the USA, Russia, Germany, Italy and Israel have to do with the concrete fulfillment of the Bible and how said day X is getting closer and closer.
As long as you prepare for the future and start building your GoldSilber Depot with the Trust.
The trust's silver holdings have remained flat over the past week at 217,132.89 grams and gold at 1,803.64 grams.
You can create the trust account, only for EphiCard holders, here:
With the trust account you can find our silver and gold backed and tradable certificates in the trust exchange on TempleCoin.org.
You can get access for a one-off membership payment of 100 euros with the Ephi-Card as a prerequisite for access.
If you don't have an Ephi ID card yet, you can take out one here together with the trust account for an additional 100 euros for the Ephi card.
You can order the current Sanhedrin TempleCoin special edition of our biblical half-shekel in 7.775g fine silver here:
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The trustee wishes you a good week and lots of success.