Central banks continued to gobble up gold.
Reported central bank gold reserves expanded by a net 77 tons in September with nine countries buying a ton or more.
Federal Reserve Chairman Jerome Powell said he’s not confident interest rates are high enough to slay price inflation. He also said he’s not confident they aren’t. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey wonders out loud why we should have any confidence if Powell doesn’t. Along the way, he breaks down the November Fed meeting and talks about the “colossal” year for central bank gold buying.
Central bank gold buying continues to sizzle.
Central banks globally added a net 77 tons to their reserves in August, according to the latest data compiled by the World Gold Council.
Among the many problems currencies the markets face, there is one that is undocumented: the eurodollar market. This is yet another very large elephant in the room.
This article quantifies eurodollars and eurodollar bonds, which are additional to US money supply and credit.
We’re fed up — fed up with the Federal Reserve. After all, it is the engine that drives the biggest government in history. In this episode of the Friday Gold Wrap, host Mike Maharrey explains what the Fed is, how it came to be, and how it enables reckless government borrowing and spending. He also talks about one reason why the recent drop in the CPI is likely transitory.
After returning to net gold buying in June, central banks continued to add to their gold reserves in July.
Globally, central banks reported net purchases of 55 tons in July, according to the latest data compiled by the World Gold Council.
As evidence mounts that the major Western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its death will be painful for the highly indebted advanced economies in North America, Europe, and Japan. History and legal precedent tell us that fiat will die and gold will return to provide an anchor to credit system values.
After three straight months of net sales, central banks globally became net buyers of gold again in June.
On net, central banks bought 55 tons of gold in June as the Central Bank of Turkey switched from selling back to buying, according to the most recent data compiled by the World Gold Council.
Despite significant selling by Turkey that slowed net central bank gold buying in the second quarter, central banks added a record amount of gold to their reserves through the first half of 2023.
In the wake of Western sanctions on Russia after the invasion of Ukraine, many central banks are bringing their gold home for safekeeping, according to an Invesco survey of central banks and sovereign wealth funds.
