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For the second straight month, gold flowed into ETFs in April. Globally, gold-backed ETFs reported net inflows of 15 tons last month, reflecting an increase of about $824 million.
Physical gold investment was up by 5% year-on-year in the first quarter. Investors bought 302 tons of gold bars and gold coins in Q1 with a value of $18.4 billion. This was 14% above the 5-year average, according to the World Gold Council.
After pulling back slightly in February, Americans went back to borrowing on credit cards in March — despite record-high interest rates. This indicates that consumers continue to struggle to make ends meet in this deteriorating economy. It also reveals that the Fed’s monetary tightening is not cooling spending as promised.
After a record-setting 2022, central banks continued to buy gold in the first quarter of 2023, setting a new Q1 record. Overall, global central bank gold reserves increased by 228 tons through the first three months of 2023. This was 38% higher than the previous first-quarter record set in 2013.
On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies. Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money, and possibly create a viable alternative to a central […]
All major categories of silver demand charted highs in 2022, contributing to a new total global silver demand record of 1.242 billion ounces. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Bed Bath and Beyond might be a canary in the coal mine. The home goods retailer filed for bankruptcy earlier this week. And according to research by UBS, this is likely just the beginning of a surge of retail store closures.
Who produces the world’s gold? Gold mine production was up modestly in 2022, but it remains below the prepandemic peak.
Last week, Mississippi Governor Tate Reeves signed a bill into law exempting the sale of gold and silver from the state sales tax. Repealing the sales tax will relieve some of the tax burdens on investors, and take a step toward treating gold and silver as money instead of as commodities.
The Conference Board Leading Economic Index (LEI) for the US fell by 1.2% in March. It was the 12th straight month of declines in the LEI.
