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