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POSTED ON September 29, 2017  - POSTED IN Fun on Friday

A few Fridays back, I shared some of the innovative ways people have come up with to smuggle gold. Like I said in that article, gold smuggling is a very lucrative business. People want gold, and they’ll go to great lengths to have it. But smuggling isn’t as easy as you might think, and people have put gold in some places … Well, let’s just say it couldn’t have been a comfortable experience.

OK – I’ll just come out and say it. More than a few smugglers have resorted to sticking gold up their butts.

POSTED ON September 28, 2017  - POSTED IN Guest Commentaries

Earlier this month, we reported a move by China that could foreshadow the end of the US dollar as the world reserve currency. The Chinese announced the launch of a gold-backed, yuan-denominated oil futures contract. The move potentially creates a way for oil exporters to circumvent US dollar denominated benchmarks by trading in yuan. The contracts will be priced in yuan, but convertible to gold.

More broadly speaking, Russia and China seem to be setting the stage to set up an alternative the international US dollar system. Many analysts believe the two countries are buying gold specifically to minimize their dependence on the US dollar. Russia and China are also reportedly moving closer to developing a broader gold-based trading system.

In an article originally published on the Mises Wire, Ronald-Peter Stöferle digs deeper into the possibility of “de-dollarization.”

The world is looking for alternatives to the dollar — and finds them more and more often.”

POSTED ON September 26, 2017  - POSTED IN Key Gold Headlines

During an interview at the Denver Gold Forum, the chairman of the World Gold Council said he thinks the world may have reached peak gold.

Peak gold means the amount of gold mined out of the earth will begin to shrink every year, rather than increase, as it has done pretty consistently since the 1970s.

Randall Oliphant said there are signs we’ve reached that point. He said in the near-term, production is likely to plateau at best, before slowly declining as demand rises, especially given global political risks and robust purchases by consumers in India and China

We’re not going to fall off a cliff in the near term, but in the same time it’s really hard to see how we’re going to produce enough gold to meet all this demand.”

POSTED ON September 26, 2017  - POSTED IN Videos

Last December, Dennis Gartman called gold the top commodity to own in 2017. He followed up in March, swearing he wasn’t a “gold bug,” but then advising “buy gold.” Now the man known as the “commodities king” says keep buying gold.

In an interview on CNBC’s Futures Now, Gartman declared the bull run isn’t over and predicted the yellow metal will hit $1,400 in the near future.

A year from now gold will be demonstrably higher than where it is now.”

POSTED ON September 22, 2017  - POSTED IN Fun on Friday

Apple recently announced its new iPhone 10 to much hoopla. It will feature a retina display, increased storage and RAM, and enhanced facial recognition (which is either real cool or incredibly creepy, depending on your point of view.)

Of course, this will all come with a pretty hefty price tag of around $1,000. A lot of people were taken aback by the cost of the new Apple gadget. On the other hand, there are apparently at least a few people out there who think that isn’t nearly enough. I mean, who wants a plain old, boring $1,000 iPhone 10 when, for a mere $69,995, you can walk around with the solid gold Lux iPhone X Ingot pressed against your ear?

POSTED ON September 20, 2017  - POSTED IN Key Gold Headlines

Even some of the biggest supporters of Bitcoin and other cryptocurrencies recognize the stability of gold.

Last week was a bad week for Bitcoin. It’s price dropped significantly in the wake of a Chinese government crackdown on cryptocurrency exchanges in the country. Bitcoin’s price has recovered a bit this week, but a recent article published by The Cointelegraph still proclaimed now is a good time for gold.

Cryptocurrencies, especially Bitcoin, have flown a little too close to the sun recently, and it has seen them get burned by a few key monetary institutions, as well as governments. This attack on Bitcoin, as well as fear and speculation around other markets, could spell a good time for investment in gold. Seen as an insurance policy, gold has been a steady and safe investment for hundreds of years. As markets, beyond even the crypto market, get spooked, investors could see a safety net in the precious metal.”

POSTED ON September 20, 2017  - POSTED IN Key Gold Headlines

Russia and China seem to be betting their monetary futures on gold. Their long-term maneuverings could seriously undermine the dominance of the US dollar and shift the world’s economic center of power from West to East.

Russia and China buy more gold than any other countries in the world, with Russia leading the way. Over the last decade, the the Central Bank of the Russian Federation has added more than 1,250 tons of gold to its reserves, according to the World Gold Council. At 1,700 tons, Russia’s has the sixth largest gold reserves in the world. Russian gold makes up about 17% of the nation’s wealth.

In 2016 alone, the Russian central bank purchased 201 tons of gold, far more than any other central bank in the world. The People’s Bank of China ranked second, adding 80 tons to its reserves.

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