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The gold price has been surging, with unprecedented central bank demand gobbling up supply. It has been a force to behold — especially as US monetary policy has been relatively tight since 2022, and 10-year Treasury yields have rocketed up, which generally puts firm downward pressure on gold against USD.
The Bible features more than 700 references to gold and silver, emphasizing their timeless significance. The term ‘gold’ alone appears in 47 of the 66 books of the Bible. Beyond their current cultural relevance, these precious metals play a crucial role in scripture, highlighting three key attributes: their divine origin, intrinsic value, and monetary quality.
The first half of 2023 was a record-breaking moment for central bank gold buying, led by none other than China and Russia. Organizations like the World Gold Council reported a staggering increase compared to 2022:
The Bank of Tanzania plans to buy 12 tons of gold during the fiscal year in an effort to boost its foreign exchange reserves. The East African nation joins a growing number of central banks turning to gold.
Central banks gobbled up gold over the summer and the buying spree has continued into the fall. Globally, central banks added another net 42 tons of gold to their reserves in October.
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 […]
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 […]
