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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 April 9, 2019  - POSTED IN Key Gold Headlines

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 been adding gold to their reserves over the last several months as they continue to minimize exposure to the US dollar.

POSTED ON March 27, 2019  - POSTED IN Peter's Podcast

During its FOMC meeting last week, the Federal Reserve took 2019 rate cuts completely off the table. It said it will freeze bond sales from its $3.8 trillion balance sheet later this autumn. In other words, balance sheet normalization is pretty much a done deal. Peter Schiff has predicted this would happen. He said from the beginning if and when the Fed tried to normalize rate, it would have to abort the process.

And here we are.

But as Peter explained in his most recent podcast, the Fed still isn’t being honest about why it’s done a monetary policy 180. It’s making excuses.

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

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.

POSTED ON March 13, 2019  - POSTED IN Key Gold Headlines

China added to its official gold reserves for the third straight month in February as the country continues efforts to minimize its exposure to the US dollar.

The People’s Bank of China added 10 tons of gold to its horde last month. It has accumulated an additional 32 tons of the yellow metal since the beginning of the year. According to the Financial Times, at this rate, China will surpass Russia and Kazakhstan as the leading central bank buyers.

POSTED ON March 1, 2019  - POSTED IN Friday Gold Wrap

Jerome Powell went to Capitol Hill this week and continued to preach patience. In other words, the Powell Pause is still firmly in play. In fact, the Fed chair confirmed that balance sheet reduction is a done deal. But why this sudden patience? In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks about it. He also covers the Q4 GDP report, reveals some more bad economic data and reviews gold’s rollercoaster February.

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