So climbing up those hurdles in reverse fashion and of course obviously the price is exciting, although in terms of some of the things that are happening beneath the surface and continue to happen. Well, in our Arcadia gold and silver daily sub stack today shared this note from Robert Gottlieb, which fortunately the highlights. I’ll just read through through those quickly here. And he mentions, banks can borrow gold from central banks while there is no backstop for silver. Swap dealers positions for the CFTC are extremely large and someone may be taking a huge position and be very exposed.

Again, this is from Robert Gottlieb who is a former precious metals managing director for JB Morgan. And he says, I expect silver to continue to get more distorted. Swap dealers are the shortest they’ve been in a long time. Actually, this is the shortest they have been aside from July of 2016. And the last three mentions here that tightness has to be fundamentally bullish talking about silver there. And he also mentioned, expect the gold EFP to become more distorted and certainly that’s something we’ve seen happen in recent months. Again, this is a couple of days after my colleague Vince Lanciano Arcadia show mentioned that major US bank is believed to be losing money and struggling to make certain silver and gold obligations in a timely fashion due to physical demand outstripping their own unencumbered vault supply.

So you’re seeing these things come to a head, Bank of America raising their price targets, Goldman Sachs talking about $4,500 gold if you have an extreme tail scenario which kind of in the middle of an extreme tail scenario and to the degree that Wall Street is even talking about $4,500 gold. I think that’s a big positive. And also you can find the full recap of this today at goldinsilverdaily.substack.com where we give you a nice, easy to read, brief update each day of what’s happening in the gold and silver markets so that you can stay posted. And if you’re a long term precious metals investor, go out, smile and celebrate certainly an exciting day.

And we’ll look forward to checking back in with you tomorrow. Thanks for watching. [tr:trw].

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