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Key Gold Headlines

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

Do millennials get gold?

If you embrace the stereotypes, you may think not. After all, millennials have both feet firmly planted in the digital world. Gold is pretty “old-fashioned.” You might assume they would be far more interested in cryptocurrencies. Or perhaps you just figure millennials aren’t investing at all.

But as it turns out, the millennial generation seems to be just as interested in gold as their parents.

POSTED ON June 19, 2019  - POSTED IN Key Gold Headlines

All eyes will focus on the Federal Reserve as it wraps up its June meeting. But it’s important to remember the Fed isn’t the only game in town. Moves by the European Central Bank also have a significant impact on the global economy (and the gold market) and it has taken a decidedly dovish turn.

Most analysts expect the Fed to hold interest rates steady in June, but potentially set the stage for a July rate cut. (Although Jim Grant said he thinks the Fed will actually cut this month.)

POSTED ON June 18, 2019  - POSTED IN Key Gold Headlines

In an opinion piece published yesterday, a Chinese government newspaper called for the international community to find alternatives to the global dollar system and warned “capricious actions” by the United States government could “ruin the future of the dollar itself.”

This is yet another sign that the world is getting tired of the US weaponizing the dollar.

POSTED ON June 17, 2019  - POSTED IN Key Gold Headlines

Consumer debt climbed to a new record once again in April. The question is how much money can American consumers borrow before the bubble pops?

Americans borrowed money at the fastest pace in five months in April, according to the latest Federal Reserve Consumer Credit Report. Total consumer credit increased by $17.5 billion. That’s an annual growth rate of 5.2%

Americans currently owe nearly $4.07 trillion.

POSTED ON June 13, 2019  - POSTED IN Key Gold Headlines

If you were thinking federal government spending might slow down a bit after the national debt crossed the $22 trillion mark – well, it didn’t.

Last month, the federal budget deficit came in at $208 billion, according to Treasury Department data. It was the largest May deficit in history.

Uncle Sam spent $440 billion last month, up 21% year-on-year. Receipts increased to $232 billion, up 7% from May 2018.

POSTED ON June 11, 2019  - POSTED IN Key Gold Headlines

After a dip in demand in 2018, it appears Indians are buying gold again.

Anecdotal data seemed to indicate strong demand for the yellow metal in India during the Akshaya Tritiya holiday. Retailers reported sales were up by as much as 25%. As it turns out, demand was indeed strong. Gold imports into India were up 36% year-over-year in May, according to sources cited by Bloomberg.

POSTED ON June 11, 2019  - POSTED IN Key Gold Headlines

China added to its official gold reserves for the sixth straight month in May as it continues efforts to minimize exposure to the dollar.

The People’s Bank of China increased its gold reserves by another 15.86 tons last month, according to data released by the bank on Monday. That raises the official Chinese gold reserves to 61.61 million ounces (1925.26 tons).

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