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China wants to dethrone the dollar and it could take a step in that direction before the end of the year. According to numerous reports, China is prepared to launch a yuan-denominated oil futures contract before Christmas. Last week, the Shanghai International Energy Exchange successfully completed a fifth round of yuan-backed oil futures testing. According to […]
The US national debt stands at over $21 trillion and neither political party in Washington D.C. seems inclined to do anything about it. In fact, the GOP tax plan winding its way through the political process will add an estimated $1.5 trillion more to the debt over the next decade. And that doesn’t even account […]
Loose monetary policy has dumped billions of dollars of easy money into the world’s financial systems over the last eight years, pumping up a whole slew of bubbles. We are still on the upside of the business cycle, with stock markets hitting record levels it seems like on a daily basis. But if history serves […]
Turkey is buying gold. The question is: why? According to a Bloomberg report, the Turkish central bank added 3.8 million ounces of gold worth almost $5 billion to its reserves this year.
Gold exports from Australia surged from August to September, according to data released by the Australian Bureau of Statistics (ABS). Non-monetary gold exports rose 17% in the period, an increase of $217 million in seasonally adjusted terms.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
The Chinese are buying gold again after a slump in consumer demand last year. Meanwhile, Chinese gold production is falling. According to data released by the China Gold Association, gold demand rose 15.5% through the first three quarters of 2017. Demand totaled 815.9 tons, pushed upward by a resurgent jewelry market.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
China wants to dethrone the dollar. But of course, it’s not alone. Russia would also love to knock the US off the top of the economic mountain. Putin is also positioning his country to free itself from the dollar-dominated global financial system. Like its neighbor to the east, Russia is using gold to pave the […]
Last month, the Nikkei Asian Review reported on a move by China that could take a first step toward dethroning the US dollar. The proposed launch of a gold-backed, yuan-denominated oil futures contract got a lot of attention in alt-media circles, but didn’t make much of a splash in the mainstream. But now the mainstream […]
