Over the last year, we’ve talked a lot about geopolitical risk. Could turmoil around the world now be the new normal?
Some analysts think so.
At SchiffGold, we pride ourselves on being a full-service precious metals dealer, and my Fun on Friday column is no exception. I want to make sure I’m providing you all the information you need. So, do you remember the previous Fun on Friday post when I told you how you can turn your next dinner party into a roaring success by making your guests poop gold?
Well, I’ve found just the thing you need to round out the experience.
If your guests are going to poop gold, they should do it on a $100,000 gold-plated toilet made out of Louis Vuitton bags.
Analysts at Thomson Reuters expect the price of gold to push back over $1,300 and then continue to rise above $1,400 through next year, primarily driven by overvalued stock markets, according to the GFMS Gold Survey 2017 Q3 Update and Outlook.
After surging in August and September, inflows of gold into gold-backed ETFs flattened, but remained in positive territory in October.
Global gold-backed ETF funds added 3.3 tons of gold last month, as inflows into European funds offset outflows in North America. according to the latest report by the World Gold Council.
If you saw the headlines last week, you know overall global gold demand fell steeply in the third quarter of this year. But as we reported, there was a lot of good news for gold buried beneath the gloomy headlines.
Slumping Q3 gold demand in India was a big driver in the overall global decline, but even there, we see some signs of optimism. Indian gold-buying dropped off primarily due to new taxes and regulations imposed by the Indian government over the summer. There are already signs the market is adjusting
For this installment of Fun on Friday, I was planning on telling you all about a $9,000 ball of yarn. But this morning, I found something even better.
The amount of gold used in the technology sector grew for the fourth consecutive quarter, according to the latest demand report by the World Gold Council.
Tech industries consumed 67.3 tons of gold in Q3, a 3% increase year-on-year. Demand for memory chips served as a primary driver for increased industrial gold consumption.