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POSTED ON August 31, 2020  - POSTED IN Key Gold Headlines

Which countries have the biggest gold reserves?

Central banks globally have been increasing gold holdings over the last few years. Central bank demand came in at 650.3 tons last year. That was the second-highest level of annual purchases for 50 years, just slightly below the 2018 net purchases of 656.2 tons. According to the World Gold Council, 2018 marked the highest level of annual net central bank gold purchases since the suspension of dollar convertibility into gold in 1971, and the second-highest annual total on record.

POSTED ON August 25, 2020  - POSTED IN Key Gold Headlines

According to a report by an Indian TV station, the board of the Reserve Bank of India (RBI) is considering significantly raising its gold reserves.

According to the report, the RBI is mulling upping its gold holdings from the current level of 6.5% of total reserves to 10%. As part of the move, the Indian central bank would also lower its holdings of US Treasuries.

POSTED ON May 6, 2020  - POSTED IN Key Gold Headlines

Central banks globally added another net 46.1 tons of gold to their reserves in March with the usual suspects making big purchases, according to the latest data released by the World Gold Council.

The pace of central bank purchases seems to be increasing, although a few banks are doing the bulk of the buying. Globally, central banks upped purchases in March by about 10 tons over February’s total, which was 33% higher than January’s buying.

POSTED ON April 13, 2020  - POSTED IN Key Gold Headlines

Central banks continued their gold-buying spree in February, although the pace of gold purchases has slowed compared to last year’s near-record purchases.

On net, central banks globally added another 36 tons of gold to their reserves in February, according to the latest data released by the World Gold Council. That was about 33% higher than January’s total.

POSTED ON February 24, 2020  - POSTED IN Videos

Last year at the Vancouver Resource Investment Conference, Peter Schiff bet Brent Johnson a gold coin that the Fed’s next move would be a rate cut. At this year’s conference, Peter collected his gold coin.

Brent and Peter went on to debate the future of the US dollar. Brent says the dollar will go up this year. Peter thinks it’s going down. Peter put his money where is mouth is and went double or nothing against the dollar.

POSTED ON January 10, 2020  - POSTED IN Friday Gold Wrap

The sound of war drums dominated this week. After Iran launched missiles at US bases in Iraq in retaliation for an airstrike that killed an Iranian general, gold spiked to over $1,600 an ounce — an eight-year high. But tensions seem to have eased and the price of gold with it, as the war drums have quieted. So, what did we learn from this and what’s next for the gold market? Host Mike Maharrey talks about it in this episode of the Friday Gold Wrap podcast.

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

As I write this, the Federal Reserve is in the midst of its October FOMC meeting. The central bank is widely expected to cut interest rates another 25 basis points. If the Fed follows through, it will be the third cut in three meetings, totaling 75 basis points since July.

Although the Fed continues to call this a “mid-cycle adjustment,” Peter Schiff called the rate cut in July the first one on the road to zero. There’s nothing so far to cast any doubt on that view.

But the Fed is not alone. It joins the majority of the world’s central banks on a race to lower rates and inject more easy money into the world’s economy. As of this month, a total of 54 central banks in both developed and emerging markets have cut their policy/base interest rates.

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