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After two consecutive months of outflows, gold-backed ETFs became net buyers of gold again last month. Gold-backed funds added 13.8 tons of gold to their holdings globally, driven by inflows in Europe-based funds, according to the latest data from the World Gold Council.
Last year’s surge in demand for investment gold and silver continued into January if sales at the US Mint are any indication. American Gold Eagle bullion coin sales were up 455% in 2020 and the selling continued through the first month of 2021. The mint called the current market demand for precious metals coins “exceptional.”
Total gold supply fell 4% year-on-year in 2020 to 4,644 tons. It was the largest annual decline since 2013, according to data from the World Gold Council. The decline was primarily driven by disruptions in mine production due to the COVID-19 pandemic. Gold mine output fell 4% on the year. More significantly, it marked the […]
Silver is getting a lot of attention right now thanks to the so-called Reddit Raiders. But as Peter Schiff pointed out in a recent podcast, silver is a fantastic buy right now even absent the attention of message board investors. In fact, silver was poised to go up even before the Reddit crowd looked its […]
Investment demand for gold set a new record in 2020, but it was not enough to offset a big drop in consumer demand due to the COVID-19 pandemic. Gold demand was up substantially in both ETFs, and for gold bars and coins Overall, gold demand fell to 3,759 tons in 2020, according to the Gold […]
Bills introduced in the Mississippi House and the Tennessee Senate would repeal state sales taxes on precious metals bullion. This would not only relieve some of the tax burdens on investors in those states; it would also take a small step toward treating gold and silver as money instead of commodities.
World gold production dropped by 5.4% in 2020 according to preliminary estimates released by GlobalData last week. Global data projects gold production came in at 108 million ounces last year. The sharp decline was largely due to mine closures during the coronavirus pandemic. But it also fits into a broader trend of declining mine output […]
Peter Schiff recently explained how the Federal Reserve has rigged the US Treasury market. Well, the European Central Bank has taken bond market manipulation to the next level. According to a Bloomberg report, the ECB is buying bonds to control the yield spread between debt issued by various EU countries. As a result of this […]
India ranks as the second-largest gold consuming country in the world, second only behind China. But over the last couple of years, the gold market in India has languished due to a combination of record-high gold prices in rupee terms and the economic impacts of the coronavirus pandemic. But were signs of revival in the […]
Gold-backed ETFs recorded record net gold inflows, pushing holdings globally to record levels in 2020. On net, ETFs globally added 877 tons of gold last year worth about $47.9 billion. Gold holdings rose by over one-third, ending the year at a record 3,752 tons, according to data released by the World Gold Council.
