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POSTED ON August 12, 2019  - POSTED IN Key Gold Headlines

In a podcast a couple of weeks ago, Peter Schiff said we now have all the elements of a gold bull market. Well, it looks like the mainstream might be starting to catch on. A headline at Bloomberg on Friday proclaimed “Hedge Funds Go All-In on Gold.”

According to the Bloomberg report, hedge funds increased their gold net-long position by 23% to 285,082 futures and options, this according to US Commodity Futures Trading Commission data that was published on Friday. This figure measures the difference between bets on the price of gold going up and bets on a decline. It was the highest since July 2016.

POSTED ON August 9, 2019  - POSTED IN Fun on Friday

I want Fun on Friday to be, well, fun. But I also want to provide a public service to you, my dear readers. Today, I have a really good pro-tip for you.

Close your vault.

And lock it.

POSTED ON August 9, 2019  - POSTED IN Friday Gold Wrap

The price of gold surged this week, breaking all-time records in a number of currencies. It also did pretty well in dollar terms, hitting six-year highs and pushing above the key $1,500 level. Meanwhile, silver had its best single day in over three years. What drove this week’s precious metals rally? And can we expect it to continue? Host Mike Maharrey talks about it in this week’s Friday Gold Wrap.

POSTED ON August 8, 2019  - POSTED IN Key Gold Headlines

Gold holdings in gold-backed ETFs globally surged to the highest level in over six years in July.

Gold-backed ETFs added 52 tons of gold last month, with net inflows totaling $2.6 billion, according to the latest data released by the World Gold Council. This follows on the heels of a June increase that totaled 127 tons.

Globally, gold-backed funds now hold 2,600 tons of gold. That’s the highest level since March 2013.

POSTED ON August 7, 2019  - POSTED IN Peter's Podcast

Several currencies have been strong against the dollar over the last couple of days, but as Peter Schiff said in his podcast, the biggest gainer wasn’t a currency at all. It was real money – gold.

Gold hit six-year highs on Monday and set records in a number of currencies. It continued to move upward on Tuesday. Overnight, the yellow metal pushed briefly above $1,500.

POSTED ON May 6, 2019  - POSTED IN Key Gold Headlines

A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims.

But is Bitcoin really a replacement for gold? While the Drop Gold ad may seem clever and cute, cryptocurrencies aren’t a replacement for gold.

POSTED ON May 3, 2019  - POSTED IN Friday Gold Wrap

The Federal Reserve FOMC met this week. When it was all said and done, the Fed did nothing. We’re stuck in neutral.

As expected, there was no rate hike. Fed Chair Jerome Powell indicated that the central bank would likely maintain this neutral stance into the foreseeable future, staying patient, neither raising nor lowering rates. So, why in the world did markets react like the Fed just jacked up interest rates? On this episode of the Friday Gold Wrap, host Mike Maharrey talks about it. He also gives an overview of the most recent World Gold Council demand report.

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