Gold Demand Fell Last Week - Supply & Demand Report - Monetary Metals

in About Gold
We can say two things. One, the fundamental price of gold is down ... it is down twenty bucks, about $40 below the current market price. Our calculated fundamental price of silver dropped almost a buck. It’s now nearly two bucks below the market price. We now calculate a fundamental on the gold-silver ratio over 81.
Two, confidence in central banks is still humming along just fine. The speculators are betting on gold futures to get more of those allegedly despised Federal Reserve Notes. When the actual repudiation of central bank paper occurs, no one will want the stuff.
https://monetary-metals.com/gold-demand-falling-report-15-may-2016/
I always find this guys reports interesting -- I think I'm starting to understand how he calculates scarcity and abundance in the gold and silver markets, but I have not been able to determine how he calculates the "fundamental value" of gold and silver.
Comments
My simple calculation on Gold and Silver, whenever I have surplus of fiat money I will turned them into physical PM.
We are the believers of Gold and Silver.
Whenever one buy Gold and Silver, for sure there is an impact on fiat currency too.
Keith Weiner, who wrote this report, believes that one day gold owners will withdraw their bid on dollars, and then paper will collapse. But in this report he was saying that this process is not evident right now, at least not this past week. Demand for paper is still strong.
I also found this report interesting because he seems to be predicting that the gold/silver ratio should head back upwards.