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Key Gold Headlines

POSTED ON July 20, 2021  - POSTED IN Key Gold Headlines

Chinese gold imports have nearly returned to pre-pandemic levels and the world’s biggest gold market continues to recover.

According to the latest data reported by the World Gold Council, China imported 67.6 tons of gold in May. That was 65 tons higher than May 2020 and only three tons lower than May 2019, before the coronavirus pandemic gripped the country.

POSTED ON July 14, 2021  - POSTED IN Key Gold Headlines

The mainstream narrative is that the Fed will soon admit that inflation isn’t transitory. At that point, it will raise interest rates and taper its bond-buying program to fight rising prices. But this narrative ignores the elephant in the room – the ever-increasing national debt.

In June, the US government ran another big deficit of $174.16 billion, continuing the trend of overspending and massive budget shortfalls.

POSTED ON July 14, 2021  - POSTED IN Key Gold Headlines

For the sixth month in a row, Consumer Price Index (CPI) data came in much higher than expected. But the question remains: how long will the Fed keep up the “transitory” inflation narrative? And when they do abandon this storyline and acknowledge inflation, what can the central bankers really do about it?

The CPI surged 0.9% month-on-month in June. It was the biggest monthly price increase of the year, blowing away expectations of a 0.5% increase. Stop and think about that number. Prices rose nearly 1% in a single month.

POSTED ON July 13, 2021  - POSTED IN Key Gold Headlines

Gold has served as a lifeline for Indians pummeled by the economic storm caused by the government response to the coronavirus pandemic.

The Indian government’s response to the first wave of COVID-19 ravaged the economy. As a result, many banks were reluctant to extend credit due to fear of defaults. In this tight lending environment, many Indians used their stashes of gold to secure loans. As Indians battle the second wave of COVID-19, many Indians have now turned to selling their gold outright in order to make ends meet.

POSTED ON July 8, 2021  - POSTED IN Key Gold Headlines

Gold-backed ETFs globally added 40.7 tons of gold in the second quarter of 2021, reversing a trend of significant outflows in Q1.

In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price of gold and investors pivoting to riskier investments as economies improve, gold flowed out of ETFs in the first quarter. That trend reversed in May.

POSTED ON July 8, 2021  - POSTED IN Key Gold Headlines

Even with the CPI rising more than expected every month this year, Federal Reserve Chairman Jerome Powell continues to insist that inflation is “transitory.” But not everybody is buying Powell’s narrative. In a blog post published July 7, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned of a “sustained” inflation rise in the United States.

But even if she’s right, will the Fed do anything about it?

POSTED ON July 6, 2021  - POSTED IN Key Gold Headlines

Central banks globally added another net 56.7 tons of gold to their reserves in May as more banks dip into the gold market, according to the latest data compiled by the World Gold Council.

Gold-buying by central banks slowed last year from the record pace we saw in 2018 and 2019. That trend has continued into 2021, but buying is ahead of last year’s pace as many countries continue to load up on the yellow metal.

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