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POSTED ON June 3, 2019  - POSTED IN Key Gold Headlines

Two more countries have joined the global gold-buying spree.

According to a Bloomberg report, the Philippines’ central bank will increase gold purchases to upwards of 1 million ounces per year in the wake of a new law that exempts taxes on the monetary authority’s bullion purchases from small-scale miners. The country’s central bank has been adding between 20,000 and 30,000 ounces per year.

Meanwhile, Serbia plans to increase its gold reserves from 20 to 30 tons by the end of this year, according to an RT report.

POSTED ON April 30, 2019  - POSTED IN Key Gold Headlines

Central banks added more gold to their reserves last month, continuing a trend that stretches back into last year.

Globally, central banks added another 31 net tons of gold in March, according to the latest report by the World Gold Council based on International Monetary Fund data. That brings the total increase in central bank gold holdings this year to 145.5 tons.

POSTED ON April 25, 2019  - POSTED IN Key Gold Headlines

The Reserve Bank of India has jumped on the gold bandwagon.

Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves.

India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up. Economist Howie Lee told Bloomberg he expects the RSB to add as much as 1.5 million ounces of gold to its reserves in 2019. That comes to about 46.7 tons.

POSTED ON April 24, 2019  - POSTED IN Key Gold Headlines

This has become a monthly feature here a SchiffGold News – Russia buys more gold.

The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up about 18% of the Russian central bank’s reserves.

POSTED ON April 4, 2019  - POSTED IN Guest Commentaries

In the March 8 episode of the SchiffGold Friday Gold Wrap podcast, Mike Maharrey emphasized the importance of understanding sound economic theory. And as economist Frank Shostak explained, facts and figures aren’t enough to digest what’s going on in the economy.

In order to really make sense of the data one must have a theory, which stands on its own feet, and did not originate from the data. By means of a theory, one could scrutinize the data and could then try to make sense out of it.”

In a recent article published on the Mises Wire, economist Dr. Thorsten Polleit builds on this body of knowledge, explaining how central bank manipulations of interest rates not only distort the economy, the actually mess with our minds.

POSTED ON March 25, 2019  - POSTED IN Key Gold Headlines

Russia continues to buy gold as it seeks to minimize exposure to the US dollar.

According to information released by the Central Bank of Russia last week, it purchased another 31.1 tons of gold in February, bringing its total reserves to 2,149 tons.

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