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Key Gold Headlines

POSTED ON May 22, 2019  - POSTED IN Key Gold Headlines

Texas continues to take steps to make the state more friendly to gold and silver.

Earlier this week, the Texas Senate gave final approval to a pair of bills that that would exempt precious metals stored in the Texas Bullion Depository from certain taxes. By repealing taxes on gold and silver, the state will treat them more like money instead of commodities.

POSTED ON May 21, 2019  - POSTED IN Key Gold Headlines

Don’t worry. Nothing to see here!

That was pretty much the message Federal Reserve Chairman Jerome Powell delivered in a speech he gave at the Atlanta Federal Reserve bank conference on May 20.

Powell talked about the high levels of corporate debt. In fact, corporate leverage is at a record level of around 35% of corporate assets. But the Fed chair said it’s not really too big a cause for concern.

POSTED ON May 20, 2019  - POSTED IN Key Gold Headlines

China sold off the highest level of US Treasurys in nearly 2-1/2 years in March. Meanwhile, there are renewed fears the Chinese could implement its “nuclear options” and sell off even more US debt in retaliation for US trade war tariffs.

China sold $10.45 billion in Treasuries in March. That was the biggest US debt dump by China since October 2016.

POSTED ON May 16, 2019  - POSTED IN Key Gold Headlines

Auto loan delinquencies have surged to the highest level since 2011 and are approaching levels seen at their peak during the Great Recession.

The percentage of outstanding auto loans in serious delinquency (90 days or more past due) jumped to 4.69% in the first quarter of 2019, according to the latest data from the New York Fed. At their peak during the recession, auto loan delinquencies hit 5.27%.

POSTED ON May 15, 2019  - POSTED IN Key Gold Headlines

Thanks to gold, you may see even sharper images on your smartphone, computer and television screens the future.

We’ve seen tremendous advances in high-resolution technology over the last decade or so. Modern smartphone displays pack millions of pixels in a few inches of space giving us crystal clear images. But researchers at Cambridge University have created even smaller pixels using gold nanoparticles.

This is another in a long list of technological innovations using gold that researchers have developed over the last several years.

POSTED ON May 9, 2019  - POSTED IN Key Gold Headlines

Consumer debt continues to climb and break records every month. But the pace of borrowing slowed in March, a possible red flag for the US economy.

Total consumer debt rose $10.3 billion in March, hitting a record-setting total of $4.05 trillion, according to the latest report by the Federal Reserve.

Through the first quarter of 2019, American indebtedness increased at a 4.25% annual rate. But the March increase came in at just only 3.1% and ranked as the smallest consumer debt increase in nine months.

POSTED ON May 8, 2019  - POSTED IN Key Gold Headlines

Jewelers and dealers in India reported brisk gold sales on Akshaya Tritiya, despite the holiday falling on a workday and extreme heat in some regions of the country.

Akshay Tritiya ranks as one of the four most important days for Hindus. The word Akshay roughly translates to “the never diminishing.” The day is believed to bring good luck and success. It is also considered one of the most auspicious occasions to buy precious metals, including gold.

POSTED ON May 7, 2019  - POSTED IN Key Gold Headlines

China added gold to its reserves for the fifth straight month in April and is buying gold at an accelerating pace.

According to the latest numbers released by the People’s Bank of China, the central bank added 14.9 tons of gold to its hoard in April. That raises total official Chinese gold reserves to 1909.4 tons or 61.1 million ounces.

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