Bling isn’t really my thing. But a lot of people enjoy sporting gold jewelry. Well, a 36-year-old businessman in Vietnam takes bling to a whole new level.
Tran Ngoc Phuc wears a total of 13kg of gold wherever he goes. If you don’t have your kilograms to pounds calculator handy, that about 28.7 pounds of gold.
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.
What’s going on in precious metals markets? Is a recession looming? If so, what does that mean for gold and silver?
In this episode of It’s Your Dime, Mike Maharrey talks to precious metals and investment expert Chris Blasi about these questions and much more.
A strong dollar in recent months has created the biggest headwinds for gold. But will dollar strength continue? Most foreign currency traders recently polled by Reuters don’t think so.
Reuters surveyed more than 60 currency analysts and the consensus was that the dollar would be weaker against major currencies in a year. The exchange strategists say slowing economic growth in the US will drag the greenback down in 2019.
Did you hear about Kylie Jenner’s gold Christmas tree?
I didn’t either. Well, I guess I did. But not on purpose. I was doing my normal morning search for gold news when I stumbled on a few stories about the celeb’s tree. Apparently, people do follow this stuff on purpose, and Kylie’s trees are a big deal.
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.
Gold holdings in gold-backed ETFs rose for the second straight month and turned positive for the year in November.
According to a report by the World Gold Council, 21.2 tons of gold, valued at about $804 million, flowed into ETFs last month. Total global holding rose to 2,365 tons.
World Gold Council chief market strategist John Reade projects healthy demand for physical gold in 2019 and said any kind of economic slowdown could boost demand — and the price — significantly.
According to the US Mint, demand for American Eagle Silver Coins surged last month. The mint sold 1.65 million ounces of silver in November. That represented a 15% increase over October sales and a whopping 327% increase over November 2017.
Perhaps investors are recognizing the tremendous upside potential for silver. After all, the silver-gold ratio hit a quarter-century high last month. That signals the price of silver is out of whack.
But there are even more fundamental reasons to own silver in our updated report “The Powerful Case for Silver.“
After Federal Reserve Chair Jerome Powell released a dovish trial balloon last week, hinting we could be close to an end of the interest rate tightening cycle, the mainstream has suddenly turned bullish on gold. A recent Bloomberg article proclaimed, “Gold may be poised to rally as speculation mounts that the Federal Reserve will hit the pause button on interest rate hikes in 2019.”
