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Globally, central bank gold reserves charted another healthy gain in October as they continue their quest to diversify reserves away from the US dollar. Central banks added another net 41.8 tons of gold to their reserves in October, according to the latest data from the World Gold Council.
Gold is poised to join the “all-time-highs” club in the upcoming decade. No, this isn’t the musing of some gold-bug. It’s analysis from a pretty mainstream source — Bloomberg Intelligence. Stocks have set new records over the last several weeks and the dollar hit 2-year highs this fall. But writing in the commodity outlook, Bloomberg […]
The central bank gold-buying spree shows no sign of letting up as countries seek to diversify their reserves away from the US dollar. Globally, central banks added another net 47.5 tons of gold to their reserves in September, according to the latest data from the World Gold Council. There were no significant gold sales by […]
The percentage of US dollars held as currency reserves globally dropped to the lowest level in nearly six years in the second quarter of 2019 according to the latest IMF data. Meanwhile, Chinese yuan made up the biggest percentage of reserves ever. The dollar’s shrinking share of global reserves comes as countries like Russia and […]
Here is a summary of some of the significant economic data/news that came out last week. Third-quarter 2019 new orders for durable goods remain on track for a second annual decline. August 2019 Real New Orders for Durable Goods showed a monthly gain of 0.2% [1.0% ex-Commercial Aircraft], but an annual decline of 4.9% [down […]
You have probably heard about the JP Morgan traders indicted in a gold and silver market manipulation scheme. The allegations involve “spoofing.” Traders put in buy and sell orders with the intention of canceling them before execution. By creating false impressions of demand, they could potentially move prices and cash in on their own trades. […]
Peter Schiff appeared on RT Boom Bust on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession. The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and […]
We’ve written extensively about a push toward de-dollarization by countries like Russia and China and their desire to undermine the ability of the US to weaponize the dollar as a foreign policy tool. The global gold rush on the part of central banks is part of this movement. And it’s not just countries like Russia […]
The price of gold whipsawed this week, driven up and down by various headlines. In this episode of the Friday Gold Wrap, host Mike Maharrey covers some of the big news that moved the markets. But he said that we need to keep our eyes on the big picture. All of this is happening in […]
As Bloomberg put it, Russia’s bet on gold looks better every month. The Russian Central Bank’s gold reserves have topped $100 billion thanks to continued buying and surging prices.
