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major bullion bull market news today warren buffett's berkshire reduces wells fargo jpmorgan goldman sachs adds barrick gold warren buffett's berkshire hathaway inc said on friday it has reduced its investments in some of the largest u.s banks lowering its stakes in wells fargo and co and jpmorgan chase and co and eliminating a stake in goldman sachs group inc in a regulatory filing detailing its u.s listed investments as of march 31st berkshire also disclosed a new 20.9 million share investment in toronto-based barrick gold corp one of the world's largest mining companies warren buffett's sale of underperforming mega commercial and investment banks is not surprising they have been underperforming terribly of late and they all face a category 5 bankruptcy hurricane likely bearing down on all of us following this 2020 u.s presidential election but what is of note is this bet on burke is only over a half billion in fiat fed notes and warren's berkshire has nearly 800 billion in total assets under management if supposed gold bear buffett is going to sell the banks and go long gold he's going to need way more exposure in this conglomerate to have any real long lasting effects in sharp contrast here's a flash of the mining share holdings that bullion bull eric sprott has acquired to date warren and berkshire have some catching up to do hello this is james anderson on behalf of sdbullion.com do me a favor and smash that like button below let's remind this algorithm and those who have yet to realize this bullion bull market is just getting going we began this past week with large understandable corrections in both silver and gold spot prices here is a last 90 day view of where silver and gold spot prices now stand at the close of this week as well note the vastly lowered gold silver ratio of late this past week i took it upon myself to do some silver price action polling i wanted to get a sense of what you out there were thinking very understandably bullish the over eighteen hundred people who took part in these midweek polls one of the comments under our youtube poll was very good and i'm gonna read it to you right now arizona steve stated the last drop our correction as some would say was likely huge players dumping say a million contracts at the same time probably at market this is also likely an intentional effort to crash both gold and silver i think big players still have many shorts and this may be an effort to protect them giving them a possible out if they can knock metal down low enough but they are also going long in a big way so that they can accumulate over days and then do these market dumps to knock spot down and grab a little profit in the meantime i think their shorts are much larger positions than their longs and they're doing the only thing they can do to mitigate their losses they'll play this game until they can anymore inevitably medals will move up silver will be the biggest mover percentage-wise enjoy the game just less than one month ago on this channel in a market update we released entitled silver's v-shaped spot price recovery we looked at the then annual gold price chart keying in on the collective u-shapes and breakouts all around the world's biggest economies gold in fiat federal reserve notes here in the usa confirmed our recent two thousand dollar breakout in short order following that video now it's time to do this tour around the world looking at annual silver price charts check out the cup shape forming already here on the u.s silver price chart annual all these charts we're going to run through remember that they cover the full fiat currency era now near five decades of time the next largest fiat reserve currency in the world is the euro here is its annualized silver price chart note how low its all-time silver price high is we are not far away from a 34 euro spot silver price breakout already the fiat british pound again similar story an all-time high for silver and pounds is not far away another u-cup shape is forming our canadian friends to the north 40 spot silver not far from now mexican neighbors to the south break out good thing mexico produces perhaps the most new line silver each and every year producing just shy of 200 million ounces on an annual basis although it will be much less this year due to viral shutdowns of their mining industry here and there our aussie friends other side of the world they are on the cusp of a massive silver price breakout similar story for the gorgeous country of new zealand the gold stackers of the european continent they are bound to retest their old 1980 nominal silver spot price high later this decade most likely the silver price in fiat chinese yuan is forming a u-cup shape although note that in china there is they're much like the european union they apply large value-added taxes to silver bullion imports to the tune of plus 17 for chinese silver bullion bulls mainly over 100 million ounces of physical silver gets imported in china every year and it's typically used in industrial production purposes in things that are silver dependent like electronics cars cell phones and solar panel production the following silver bullion import gorilla india has been basically missing this year 2020 due to the viral shutdown of their wedding season at times during the 2010s this nation alone imported 250 to 200 million ounces of silver each year look for this silver stacking and silver jewelry buying nation to come back hard in 2021 and 2022 given the pent-up physical silver demand ongoing see the u-cup shape on this indian rupee silver price chart it's on the cusp of breakout right now finally the end today's tour around major global silver price charts have a gander at south africa's silver price chart here i contend this is the similar look that all the charts we've recently had a gander at this is how they will look later on this decade as silver breaks away and runs away to the upside that's all for this week's update stay tuned the platinum fundamental investment video is coming out soon until then take great care of yourselves and those that you love if you enjoyed this content be sure to give our video a thumbs up to keep getting bullion related news and industry insights be sure to subscribe to our channel finally hit that alert button so you know when we publish fresh content give us your thoughts in the comments below let us know what you think and which topics you want to hear more about you
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