Gold holdings in gold-backed ETFs rose globally by 16.5 tons in October. It was the first monthly net inflow of the yellow metal into ETFs in four months.
According to a report by the World Gold Council, positive gold price performance for the month (+2.3% in USD) was a key driver of inflows in North American and European funds. Global assets under management rose by 3.1% in US dollars relative to September.
For centuries, gold jewelry was not only something beautiful to wear, it was also a store of wealth and value. But the 14-karat gold jewelry found in your local store isn’t the best option for investment. Now there is an alternative for people who want to own beautiful jewelry that will also serve as a store of value.
Mene is an ancient word for money. A new company by that name prices its jewelry by weight and a transparent premium. Mene also allows customers to track the value of their jewelry like an investment portfolio and sell back or exchange pieces back to the company.
In this special episode of the Schiff Report, Peter Schiff interviews Mene founder and CEO Roy Sebag. They not only talk about the company and this unique way to invest, but they also talk about the fundamental reasons you want to own gold.
Demand for gold in technology and industrial sectors grew for the eighth consecutive quarter in Q3, according to the World Gold Council Global Demand Trends Q3 report.
Overall, gold used in technological applications grew 1% to 85.3 tons in the third quarter. That marked the eighth consecutive quarter of year-on-year growth. Strong demand in the electronics sector helped drive overall industrial and tech demand for the yellow metal higher.
Scientists continue to find new uses for gold, particularly in the medical field.
In the latest development, scientists have discovered a process using gold nanoparticles that helps reduce inflammation and speeds healing in damaged muscles
Video games have come a long way. Amazing graphics. Multiplayer options online. Gold controllers.
Yes. You read that right.
Gold controllers.
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.
On Oct. 10, the IMF released its Global Financial Stability report, highlighting increased levels of risk revealed by a number of global metrics. Just after the report was released, stocks in the US, Europe and Asia lost 4%, 3% and 4% respectively over three days.
As a recent investment update released by the World Gold Council points out, although stocks rebounded and regained some of those losses, the IMF report and subsequent market pullback “underline the relevance of holding gold in the near and long term.”
Yesterday, the Hungarian central bank announced it recently boosted its gold reserves 10-fold.
According to its website, the National Bank of Hungary (MNB) now owns 31.5 tons of gold, up from 3.1 tons. It was the first significant purchase of gold by Hungary since 1986.
A statement by the bank said the increase in gold stocks was intended to increase financial stability and strengthen market confidence.
The stock market has been rocked over the last week but gold has rallied. In his most recent podcast, Peter called gold “the real standout in the market.”
The price of gold finally woke up — or traders work up and notice how cheap gold is.”
Could we be heading toward $5,000 gold?
Last week, there was a big sell-off in the bond market. Yields on the 10-year Treasury soared 11 basis points in one day. Global stock markets sold off the following morning and US stock markets followed suit. This week, things really got really ugly on Wall Street. The Dow dropped over 1,300 points in two days. In a video for SchiffGold, Peter Schiff said stock market investors “finally took notice of the carnage that was going on in the bond market.”
On Thursday, the price of gold popped, rising nearly 3%. But despite all of the action this week, most people in the mainstream remain complacent. The narrative is that this is a normal bull market correction. Peter said nothing could be further from the truth.
The economy is even a bigger bubble than the stock market.”