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Central banks’ appetite for gold remained robust in July according to the latest data compiled by the World Gold Council. Globally, central banks added a net of 37 tons of gold to their reserves, bringing the total purchases on the year close to 300 tons.
The photography industry was once one of the biggest consumers of silver. With the advent of digital photography and cell phone cameras, the use of film gradually declined. But there has been a revival in film and the use of silver in photography increased last year. This is one of several silver-related stories in the latest edition […]
The economy is fine, so we’re told. There is no recession, so we’re told. The Federal Reserve has everything under control, so we’re told. Meanwhile, 3.8 million Americans say they could face eviction in the next two months. It doesn’t sound like everything is fine.
The dollar index recently hit a 20-year high, so this might seem to be an odd time to talk about a dollar decline. But Rockefeller Institute Chairman and Financial Times columnist Ruchir Sharma recently wrote an article arguing that a post-dollar world is coming.
President Biden is expected to announce student loan forgiveness on Wednesday (Aug. 24). The plan will reportedly cancel $10,000 in student loan debt for anybody making less than $125,000 per year. A lot of people think this is like waving a magic wand — poof — the debt is gone. But somebody has to pay […]
In yet another sign the economy is tanking, private-sector business activity contracted for the second straight month in August. The S&P Global flash composite purchasing managers index (PMI) dropped to 45 this month from a reading of 47.3 in July. A print below 50 indicates a contraction in economic activity.
The tanking housing market is starting to put a strain on the mortgage industry with some lenders already going out of business. Analysts project the wave of failures coming down the pike could be the worst since the housing bubble burst and triggered the Great Recession.
On net, central banks globally have been adding gold to their reserves. Through the first half of 2022, central banks expanded gold holdings by 270 tons. National Bank of Poland Governor Adam Glapiński summed up the reason central banks hold gold.
Indian silver imports are on pace to triple this year as investors bet the white metal is primed to rebound and outperform gold in the near future. Silver prices have dropped to 2-year lows, and the silver-gold ratio has risen to nearly 90-1, signaling that the white metal is significantly undervalued compared to gold.
The tax man cometh! And thanks to the Democrats in Congress, there will be more tax enforcers shining their lights into the nooks and crannies of Americans’ finances.
