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The silver-gold ratio hit the highest level in over a quarter century this week. The ratio hit to 86:1 as dollar strength pulled both the price of silver and gold lower this week after the Federal Reserve indicated it plans to keep pushing interest rates higher. The price of silver fell even more steeply than […]
Americans took on another $10.9 billion in debt in September, according to data released by the Federal Reserve. That pushed total consumer debt to a seasonally adjusted $3.95 trillion. American indebtedness is growing at a 3.3% rate. But there are signs that American credit card borrowing is slowing down and that’s not good news in […]
Well, the midterm elections are finally over. The Republicans managed to hold on to the U.S. Senate, but the Democrats took control of the House. The “Blue Wave” was more like a “Blue Ripple.” To me, it smells a lot like gridlock, which is generally good news if you’re a person who favors smaller government. Gridlock […]
Gold production in South Africa dropped by 19% year-on-year in September, according to a report at Fin24. This continues a trend of monthly gold mine production drops. South African gold output fell by 15% in August and 15.5% in July. The country once led the world in gold production. The precipitous drop in output over […]
Gold holdings in gold-backed ETFs rose globally by 16.5 tons in October. It was the first monthly net inflow of the yellow metal into ETFs in four months. According to a report by the World Gold Council, positive gold price performance for the month (+2.3% in USD) was a key driver of inflows in North […]
The Russians have an alternative money transfer system up and running, and according to a report in RT, it has now surpassed SWIFT in popularity in that country. This is part of a broader effort by countries like Russia and China to limit their dependence on the US dollar and set up alternative financial channels outside of […]
A functioning bionic eye is closer to reality thanks to silver. The Silver Institute highlighted this amazing medical breakthrough along with other technological innovations utilizing the white metal in the latest edition of Silver News.
October jobs numbers came out on Friday and everybody was all giddy about healthy growth. But in his most recent podcast, Peter Schiff said jobs are just another bubble about to burst.
Demand for gold in technology and industrial sectors grew for the eighth consecutive quarter in Q3, according to the World Gold Council Global Demand Trends Q3 report. Overall, gold used in technological applications grew 1% to 85.3 tons in the third quarter. That marked the eighth consecutive quarter of year-on-year growth. Strong demand in the […]
Wednesday was another ugly day on Wall Street. Stocks tanked, wiping out gains for the year in both the Dow Jones and S&P 500 Index. The Dow fell 608 points and the S&P 500 shed 3%. The Nasdaq plunged 329 points and lapsed into a correction territory. It was the largest daily decline on Wall […]
