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Central banks continue to add gold to their reserves. Global central bank reserves increased by a net 28.4 tons in August, according to data compiled by the World Gold Council. Gross central bank gold purchases came in at 30 tons.
(October 1, 2021) – Beginning today, you will no longer have to pay sales tax when you buy gold and silver in the state of Ohio. Last summer, Ohio Gov. Mike DeWine signed a bill into law that exempts gold and silver bullion and coins from sales tax. This will not only relieve some of the […]
Incentives matter. All of the political grandstanding, media spin and wishful thinking won’t change this basic economic principle. Both Janet Yellen and Joe Biden insisted “enhanced” unemployment benefits weren’t incentivizing people not to work. But as we recently reported, analysis of continuing unemployment claims after a number of red states cut enhanced benefits undermined this […]
The Fed has an inflation problem. The CPI is running well above the mythical 2% target and there isn’t any sign that it will ease soon. To deal with this problem, the central bank should tighten its monetary policy. But that would create a whole new problem, given that it can’t tighten in this economic […]
The silver-gold ratio has ballooned again, indicating that silver is once again a bargain buy. During a gold bull market, silver typically outperforms gold. We saw this during the big runup in the price of both metals through the early months of the pandemic. In the third quarter of last year, silver charted its best […]
In yet another sign “transitory” inflation might not be so transitory, FedEx has announced plans to significantly hike shipping rates in 2022. FedEx said it will raise rates for US domestic, export and import services by 5.9%, on average next year. Some freight rates will rise as much as 7.9%. The company also plans to […]
The Chinese gold market continues to show signs of recovery after it was hit hard by the coronavirus pandemic. Chinese gold demand rebounded sharply in the first half of 2021 after plummeting in 2020, and imports remained strong in July, above 2019 levels, according to the latest data from the World Gold Council. China ranks as […]
Today is Constitution Day. We’re supposed to be celebrating the day the Constitution was signed and presented to the states for ratification. But it’s pretty hard to celebrate because the Constitution is dead.
The government CPI data for August came in slightly under expectations. Nevertheless, a 0.3% month-on-month increase in prices is significant. And a dig into the numbers reveals something wonky. The way the government calculates housing costs drastically understates rising prices and skews overall CPI to the downside.
A couple of years ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, Leventhal said he had no interest in it because gold has no uses as a metal. Of course, this is nonsense. Gold has a wide range of uses in sectors ranging from jewelry to high-tech electronics. And […]
