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Gold closed the week at $2,502 (down $10 since last week) and silver at $28.83 (down about $1). This episode we discuss recent price action, the historic volatility in September and October, and economic weakness from Germany to China.
While most American investors have faith that the Federal Reserve can and will successfully tighten monetary policy to fight inflation — or have simply bought into the “transitory” inflation narrative — Germans are loading up on gold as a hedge against growing inflationary pressures.
In a podcast, Peter Schiff said it smells like stagflation is on the horizon. Inflationary pressures are becoming more and more apparent. Labor costs, commodity prices and bond yields are all pushing upward – clear signs of inflationary pressure. And of course, defined correctly – as an increase in the money supply – there is […]
Over the last couple of years, we’ve been reporting on efforts to remove the US dollar from its throne as the world reserve currency. We’ve primarily seen moves toward de-dollarization from countries like China and Russia, and other nations within their orbits. It’s easy for Americans to dismiss efforts to undermine the dollar as desperate moves […]
Could we be seeing a run on the Federal Reserve Bank of New York? Jim Rickards thinks we just might be. But it’s not your typical cash run. It’s a run on the bank’s gold. The classic image of this is the scene from the Christmas-season film It’s a Wonderful Life, with Jimmy Stewart. We’ve all […]
The Germans are showing off their gold. The country ranks second in the world only to the US in official gold holdings. This week, the Bundesbank launched a six-month exhibition on gold showcasing its reserves along with the bank’s most interesting gold bars and coins. The official exhibit is part of a renewed emphasis on the […]
Over the last several years, a number of countries have taken steps to bring their gold home. You can now add Hungary to that list.
As the Brisbane Times puts it, “When the going gets tough, Germans Buy Aussie Gold.” And they are doing it now. Last fall we reported on Germany’s budding love affair with gold. It appears this is more than just a one-night fling.
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.
We talk a lot about India’s love affair with gold. The Asian nation ranks as the second largest gold consumer in the world, behind only China. Gold is intimately intertwined with Indian cultural and marriage rights, and it serves as a vital cog in India’s economy, both above ground and underground. But the yellow metal has a new […]
