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POSTED ON July 5, 2019  - POSTED IN Friday Gold Wrap

Gold has gone through some wild mood swings this week. It plunged back below $1,400 per ounce on Monday only to rally and climb back above that key level on Tuesday. What’s driving these fluctuations? And what should investors be focusing on? Mike Maharrey talks about it in this week’s Friday Gold wrap. He also touches on some positive signs in the silver market, the global movement toward de-dollarization, and he remembers a friend of liberty who passed away this week.

POSTED ON June 3, 2019  - POSTED IN Key Gold Headlines

Two more countries have joined the global gold-buying spree.

According to a Bloomberg report, the Philippines’ central bank will increase gold purchases to upwards of 1 million ounces per year in the wake of a new law that exempts taxes on the monetary authority’s bullion purchases from small-scale miners. The country’s central bank has been adding between 20,000 and 30,000 ounces per year.

Meanwhile, Serbia plans to increase its gold reserves from 20 to 30 tons by the end of this year, according to an RT report.

POSTED ON May 7, 2019  - POSTED IN Key Gold Headlines

China added gold to its reserves for the fifth straight month in April and is buying gold at an accelerating pace.

According to the latest numbers released by the People’s Bank of China, the central bank added 14.9 tons of gold to its hoard in April. That raises total official Chinese gold reserves to 1909.4 tons or 61.1 million ounces.

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

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 gold holdings this year to 145.5 tons.

POSTED ON April 25, 2019  - POSTED IN Key Gold Headlines

The Reserve Bank of India has jumped on the gold bandwagon.

Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves.

India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up. Economist Howie Lee told Bloomberg he expects the RSB to add as much as 1.5 million ounces of gold to its reserves in 2019. That comes to about 46.7 tons.

POSTED ON April 24, 2019  - POSTED IN Key Gold Headlines

This has become a monthly feature here a SchiffGold News – Russia buys more gold.

The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up about 18% of the Russian central bank’s reserves.

POSTED ON September 11, 2018  - POSTED IN Videos

Countries like Russia, China and Iran have been looking for ways to limit their dependence on the US dollar for years. More recently, we’ve even seen American allies looking to de-dollarize the world. Last month, German foreign minister Heiko Maas called for the creation of a new payments system independent of the United States.

It’s gotten to the point people are beginning to discuss a “post-dollar” world.

RT’s Max Keiser recently talked about the issue of the US weaponizing its currency with the head of research for GoldMoney.com, Alasdair Macleod.

POSTED ON May 31, 2018  - POSTED IN Key Gold Headlines

Are we in the early stages of a gold bull market? Incrementum thinks so and offers three key reasons for this assessment in its most recent In Gold We Trust Report.

At the moment we are at the turning point towards a gold bull market. The macroeconomic and geopolitical factors support this tendency. One of the things we notice across the bull markets of the past 50 years is that, even in its weakest period of increase, gold gained more than 70%. This record supports our optimism for future developments. From our point of view, stronger inflation tendencies or the abandoning of the rate-hike cycle in the US could trigger an increase in momentum of the gold price. We regard these scenarios as realistic.”

POSTED ON January 4, 2018  - POSTED IN Key Gold Headlines

The United States uses the dollar as a weapon to keep other countries in line, but it’s becoming a less and less effective strategy as other nations find ways to minimize their dependence on the greenback.

Pakistan serves as the latest example. Just one day after Pres. Trump blasted the country on Twitter, Pakistan’s central bank announced it was abandoning the dollar and replacing it with the yuan for bilateral trade with China. This is yet another sign of global de-dollarization.

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