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German Central Bank Continues Gold Repatriation Bundesbank – Germany’s central bank, the Bundesbank, increased its transfer of foreign gold reserves back into Germany in 2014, bringing 120 metric tons to Frankfurt. 85 of those tons came from the New York Federal Reserve. This repatriation process began in January 2013, when the Bundesbank announced a plan […]
The Chinese yuan became one of the top five payment currencies in the world in November, according to the latest data from SWIFT, one of the largest international interbank transaction companies. The yuan jumped from seventh to fifth place, overtaking the Australian and Canadian dollars. With the yuan accounting for 2.17% of global payments, it […]
Russia has added more gold to its foreign reserves, making December the ninth month in a row that it has bought the yellow metal. Russia’s gold holdings are now the largest they’ve been in two decades, according to the International Monetary Fund. Smaller countries have also been stocking up on the yellow metal. Kazakhstan added […]
The World Gold Council has released a fascinating new report on Turkish gold demand and gold culture. Many gold investors are aware that China and India have been the top gold consumers in the world, but Turkey has a thriving gold economy as well. In fact, Turkey is the world’s 4th largest gold consumer, and […]
The World Economic Forum’s meeting in Davos ended this past weekend, and much of the mainstream news focused on the hypocrisy of the world’s wealthiest individuals discussing the plight of the global economy. Research released by Oxfam in the middle of the conference shows that the richest 1% own 48% of the world’s wealth. Politicians […]
As of this morning, gold is up more than 10% and silver is up more than 16% since the beginning of the year. Gold stocks have also been strong, especially in the mining sector. While the S&P 500 has dropped about 1%, the Arca Gold Miners Index is up nearly 25%. Unsurprisingly, the mainstream financial […]
The European Central Bank (ECB) will begin a new quantitative easing (QE) program in March. The central bank announced this morning that it would buy at least 1.1 trillion euros worth of euro-denominated bonds from governments and private institutions across Europe. It will begin its monetary manipulation at the rate of €60 billion a month, […]
The German central bank (Bundesbank) repatriated 120 metric tons of gold in 2014. 85 of those tons came from the New York Federal Reserve, which held nearly half of Germany’s gold at the time. This is in sharp contrast to repatriating just 37 tons in 2013 – only 5 of which came from New York. […]
Precious metals naysayers often fail to keep a global perspective on the economics behind gold and silver. This past week has been a stark reminder that gold is an international asset whose real, fundamental value cannot be found in US dollar terms alone. When the Swiss franc’s peg to the euro was dropped, gold surged […]
The price of gold took off this morning when news broke that the Swiss National Bank has removed the euro cap on the Swiss franc. For three years, the franc has had a ceiling of 1.20 francs per euro. When the cap was removed, the currency surged 30% against the euro, sending currency traders scrambling […]
