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One day Trump is on Twitter ratcheting up the trade war with China and the next he is pulling back and saying a deal is close. This back-and-forth has been yo-yoing markets for months. Peter Schiff recently appeared on RT Boom Bust to talk about the trade war. He said he doesn’t think there’s much […]
China bought gold for the eighth straight month in July, adding another 10 tons to its rapidly growing hoard. The recent purchases boosted the People’s Bank of China’s gold reserves to 62.26 million ounces – about 1, 945 tons. China has added about 94 tons of gold to its stash over the past eight months.
Several currencies have been strong against the dollar over the last couple of days, but as Peter Schiff said in his podcast, the biggest gainer wasn’t a currency at all. It was real money – gold. Gold hit six-year highs on Monday and set records in a number of currencies. It continued to move upward […]
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 […]
Just a few weeks ago, the mainstream was worried about economic growth. Now, all of a sudden, the mainstream is bullish about economic growth. It seems like the high from the Fed’s monetary heroin has fully taken hold. And it’s not just in the US. In this episode of the Friday Gold Wrap, host Mike […]
While President Trump nags the Federal Reserve to reinstitute Obama-era monetary stimulus, China has already taken off down that path. And it actually has some people in the mainstream concerned. According to a Reuters report, the Organisation for Economic Cooperation and Development (OECD) is warning that while Chinese government stimulus may boost the country’s economy […]
Central bank gold purchases hit a level not seen since 2008 through the first two months of 2019. Central banks added 90 tons of gold in the first two months of this year according to the latest report by the World Gold Council. This compares to 56 tons through the first two months of 2018 […]
China bought gold for the fourth straight month in March, adding another 11.2 tons of the yellow metal to its reserves, according to the latest data released by the People’s Bank of China. With the most recent purchases, the Chinese official gold reserves stand at about 1,884 tons or 60.62 million ounces. The Chinese have […]
We’ve been following a number of central banks that have been buying gold recently, specifically the Russians and Chinese. But these two central banks aren’t alone. In fact, central bank gold-buying has surged over the last couple of years. What’s behind this trend?
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.
