「今や誰の目にも明らかだ」とロシア大統領のプーチンは主張する、（そして最近フランス大統領マクロンも公式に述べた）、「西欧の先導時代は終わりつつある。ロシア、インドそして中国抜きの有効な国債組織を想像することができない。」
And while most politicians are all talk, in the case of both Russia and China, their actions speak louder than their words. そして多くの政治屋が言うことだが、ロシアや中国の場合、彼らの発する言葉よりも行動を見ることだ、と。 China's foreign exchange reserves jumped to $3.1072 trillion despite the falling yuan and escalating trade war with the US, while raising its gold holdings by nearly 2.89 million troy ounces (99 tons) in nine months. That's nearly five percent more since the end of last year.
Source: Bloomberg As Bloomberg reports, that buying spree likely to persist in the coming years, according to Australia & New Zealand Banking Group Ltd.
ブルームバーグによると、この買いの熱狂は今後数年続きそうだ、Australia & New Zealand Banking Gropu Ltd.の情報によるものだ。
Trade war restrictions, in the case of China, or sanctions, as with Russia, give “an incentive for these central banks to diversify,” John Sharma, an economist at National Australia Bank Ltd., said in an email.
中国は貿易戦争、ロシアは経済制裁の悪環境のなかで、「両国中央銀行は分散に懸命だ、」とJohn Shamaはemailで伝えた、彼はNational Australia Bankのエコノミストだ。
“Also, with increasing political and economic uncertainty prevailing,
gold provides an ideal hedge, and will therefore be sought after by
central banks globally.”
But China is not alone. Figures released by the Central Bank of Russia (CBR) on Friday show Russia’s
gold bullion holdings have reached $109.5 billion as the nation
continues to shift its growing international reserves away from the US
dollar.
As Bloomberg reports, Russia’s central bank has been the largest buyer of gold in the past few years...
ブルームバーグによると、ここ数ヶ月ロシア中央銀行が最大のゴールド買い手だった・・・。
Source: Bloomberg
“Russia prefers to cushion its macroeconomic stability through politically neutral tools,” said Vladimir Miklashevsky, a strategist at Danske Bank A/S in Helsinki.
「ロシアはミクロ経済安定性で政治中立ツールを望んでいる、」とVladimir Miklashevskyは言う、彼はヘルシンキのDanske Bank A/ Sのストラテジストだ。
“There is a massive substitution of U.S. dollar assets by gold - a strategy which has earned billions of dollars for the Bank of Russia just within several months.”
「巨額の米ドルをゴールドで置き換えているーーここ数ヶ月でBank of Russiaは巨額資金を転換した。」
Amazonで買物をしてContrarianJを応援しよう Silver Outperforming Gold 2 Adam Hamilton July 26, 2019 3232 Words Silver has blasted higher in the last couple weeks, far outperforming gold. This is certainly noteworthy, as silver has stunk up the precious-metals joint for years. This deeply-out-of-favor metal may be embarking on a sea-change sentiment shift, finally returning to amplifying gold’s upside. Silver is not only radically undervalued relative to gold, but investors are aggressively buying. Silver’s upside potential is massive. ここ２週シルバーは急騰した、ゴールドを遥かに凌ぐものだ。これは注目すべきことだ、もう何年もシルバーはひどいものだった。この極端に嫌われた金属が大きく心理を買えている、とうとうゴールド上昇を増幅するに至った。シルバーは対ゴールドで極端に過小評価されているだけでなく、投資家は積極的に買い進んでいる。シルバーの潜在上昇力は巨大なものだ。 Silver’s performance in recent years has been brutally bad, repelling all but the most fanatical contrarians. Historically silver prices have been mostly ...
結局、中国は隣国日本で２０年前に起きたことを学んでいなかったということでしょう、というかどの国もどの政府も十分成熟するまでは「わかっちゃいるけどやめられない」ということでしょうね、きっと。 Spooked By Apple? Wait ‘Til China’s Bubble Bursts Written by Jesse Colombo | Jan, 3, 2019 Apple stock plunged nearly 10% on Thursday after the company cut its revenue forecast due to slowing iPhone sales in China. Apple’s woes dragged U.S. stock indices lower by more than 2% as fears of a more extensive China-driven slowdown spread. アップルの株価は火曜に約１０％下落した、同社が中国でのiPhone売上原則を予想したためだ。アップルの弱さが米国株式指数を２％以上押し下げた、中国主導でさらなる原則が広がるのではという懸念からだ。 From the New York Times : ニューヨークタイムスによると： For years, no matter what was happening elsewhere, global companies bet billions upon billions of dollars that China’s consumers would keep spending money. 長年、他国で何が起きようとも多国籍企業は中国消費は巨額を維持することに賭けてきた。 Now, just when the world economy could use their financial firepower, they are no longer so quick to open their wallets. 今や、世界経済が金融弾薬を用いてももはや彼らの財布を緩めることはできない。 The latest sign of a slowdown in...
Gold Stocks Surge Higher Adam Hamilton February 22, 2019 2932 Words The gold miners’ stocks surged strongly this week, blasting to new upleg highs. The mounting gains are naturally driving more interest in this small contrarian sector, shifting sentiment towards bullish. Despite their accelerating rally, gold stocks still remain fairly low technically and deeply undervalued relative to gold. So their strengthening upleg likely has plenty of room to run considerably higher in coming months. 今週金鉱株は力強く上昇し新高値となった。上昇が積み上がりこの小さなコントラリアンセクターはさらに注目を集めている、これが心理を強気なものにする。ラリーが加速するが、金鉱株はテクニカル的にはまだ安値で、対ゴールドでとても過小評価されている。というわけで力強い上昇は今後数ヶ月まだかなりな上昇余地がある。 The gold miners’ stocks are ultimately leveraged plays on gold, which overwhelmingly drives their profits. The much-maligned yellow metal has enjoyed a strong upleg since mid-August, when record gold-futures s...
Barrick’s average quarterly production since Q4’16 plunged an astounding 8.6% YoY. The reason Barrick’s management blew $6.5b in stock buying Randgold is they desperately needed more production to mask the precipitous drop in their own. Barrick’s total 2018 production of 4525k ounces was 18.0% below the 5516k it mined only a couple years earlier in 2016. At best adding Randgold just regains those losses. Barrickの平均四半期生産は２０１６Q4以来なんとYoYで８．６％下落している。Barrickの取締役が＄６．５Bも投じてRandgoldの株式を購入した理由は、彼らはなんとしても急落する自らの生産量を隠すために生産量増加としたかったからだ。Barrickの２０１８全生産量は４５２５Kオンスで、わずか２年前の５５１６ｋオンスから１８．０％も少ない。Randgoldを買収したところでこの下落を補うに過ぎない。 And GOLD has been suffering the same production struggles as ABX. Over its past 4 reported quarters, Randgold’s gold mined has fallen an average of 7.4% YoY. Can bringing two rapidly-depleting major gold miners together magically make a stronger one? I doubt it. Barrick’s reported production will enjoy a big temporary boost...
Gold Miners’ Profits to Soar Adam Hamilton October 18, 2019 2741 Words The gold miners are likely to report blowout profits in this spinning-up Q3’19 earnings season. Higher production, stable costs, and much-higher gold prices should combine for some super-impressive results. That’s going to leave the still-undervalued gold miners much more attractive fundamentally, supporting bigger capital inflows and much-higher stock prices. Q3 should prove the gold miners’ best quarter in years. 金鉱会社は２０１９Q3決算で巨額の収益を報告する可能性が高い。生産量が高く、コストは安定し、ゴールド価格高騰が重なり、素晴らしい決算報告となりはずだ。まだ過小評価の金鉱株がファンダメンタルズ的により魅力的になりつつある、こうなるとさらなる資金を呼び込み株価は高まるだろう。Q3は一年でもっとも良い四半期となるはずだ。 Stock prices are ultimately dependent on underlying corporate earnings. Over the long term all stock prices gravitate towards some reasonable multiple of their underlying companies’ profits. Herd greed and fea...
