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Key Gold Headlines

POSTED ON June 18, 2024  - POSTED IN Key Gold Headlines

As the U.S. economy progresses toward monetary catastrophe, individual states are taking action to preserve and enable the use of sound money. Utah recently passed HB 348, which took effect in May and authorizes the state to invest a portion of its funds in precious metals. State Representative Ken Ivory sponsored the bill, and in an exclusive correspondence with SchiffGold, he explains why the new law is needed and discusses the next steps Utah is taking to weather the coming storm of inflation and federal monetary disaster. Below are Representative Ivory’s statements. 

POSTED ON June 12, 2024  - POSTED IN Key Gold Headlines

China has called quits on its 18-month gold buying spree, causing precious metal prices to stumble this week as the world’s largest buyer unexpectedly closes its tab.

In 2023, the People’s Bank of China purchased more gold than any of the world’s other central banks, swelling its reserves of the precious metal to more than 2,000 tons to break free from the U.S. dollar standard. Chinese consumers have been following suit, amassing gold coins, bars, and jewelry as Chinese stocks, currency, and real estate have succumbed to economic volatility and plunging value.

POSTED ON May 21, 2024  - POSTED IN Key Gold Headlines

Amid ongoing tension in the Middle East, Iranian President Ebrahim Raisi and the foreign minister have been confirmed dead Monday after a helicopter crash. The officials’ shocking demise casts additional investor doubt on a region already plagued by economic upheaval, with supply chain uncertainties fueling record-high metal prices this week.

POSTED ON May 9, 2024  - POSTED IN Key Gold Headlines

While gold bullion is most often sold in bar or 1oz coin form, the Korean retail market is benefitting from gold’s latest success with a very atypical marketing strategy. It has been traditionally thought that investors prefer larger increments of bullion because they simplify calculations and have a lower transaction cost than buying the same amount of gold in smaller increments. Demand for traditional bars and coins in South Korea rose 27% year on year, but the most interesting development arises from South Korean vending machines and convenience stores. 

POSTED ON April 16, 2024  - POSTED IN Key Gold Headlines

Since Nayib Bukele became president of El Salvador, El Salvador has been in American media and global political discussion more than ever. While much of the attention focuses on Bukele’s mass incarceration of gang members and a decline in homicide of over 70%, Bukele has also drawn attention to his favoritism towards Bitcoin and how he has pushed El Salvador to embrace cryptocurrency.

POSTED ON April 5, 2024  - POSTED IN Key Gold Headlines

With gold hitting yet another awe-inspiring all-time high in the wake of Powell’s remarks reassuring markets (more or less) to expect rate cuts in 2024, a few analysts are pointing out risk factors for a correction — so is there really still room to run?

POSTED ON March 5, 2024  - POSTED IN Key Gold Headlines, Peter's Podcast, Videos

Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold prices was notably recorded without the typical surge in public buying that usually accompanies such milestones. Instead, there has been a consistent outflow from gold ETFs, suggesting that the retail sector has been selling rather than accumulating during this rally.

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