Central bankers and politicians think they can run the economy.
They can’t.
In this episode of the Friday Gold Wrap, host Mike Maharrey digs into some fundamental economic theories that explain why these central planners will always fail, no matter how noble their intentions.
Despite lackluster price performance last year, trends are looking positive for silver investors in 2019.
The Silver Institute highlighted increasingly supportive sentiment in the silver market along with a number of technological innovations utilizing the white metal in the latest edition of Silver News.
Jerome Powell went to Capitol Hill this week and continued to preach patience. In other words, the Powell Pause is still firmly in play. In fact, the Fed chair confirmed that balance sheet reduction is a done deal. But why this sudden patience? In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks about it. He also covers the Q4 GDP report, reveals some more bad economic data and reviews gold’s rollercoaster February.
Russia is considering eliminating its value-added tax (VAT) on gold purchases. According to a Russian paper, this could increase gold demand in the country by 50 to 100 tons per year.
Russia currently charges a 20% tax on all gold bar purchases, and investors do not get the tax back when they sell their gold.
Investors are gobbling up American Silver Eagle coins. Sales were so brisk last week that the US Mint temporarily suspended orders when its inventory ran out.
February sales this year have already doubled 2018 levels. As of Feb. 26. the mint had sold 2,157,500 Silver Eagles this month. That compares with 942,500 coins in February 2018. This represents a whopping 118% year-on-year sales increase.
Silver often gets lost in gold’s shadow, but it’s important in its own right – both as an industrial and a monetary metal. In this episode of It’s Your Dime, Mike Maharrey talks all things silver with Silver Institute Executive Director Michael DiRienzo.
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.
Analysts expect continued strong investment demand for gold in China this year.
According to Xinhua News, gold as an investment will likely “glitter” in 2019 and gold jewelry sales are expected to get a boost in the Chinese lunar Year of the Pig. It also appears the People’s Bank of China is on a buying spree.
China ranks as the world’s top gold consumer.
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 is on a nice little bull run. The yellow metal is up almost 3% since the first of the year and nearly 13% since touching one-and-a-half year lows last summer. But as a recent article in Barron’s pointed out, the relative strength of the dollar has disguised an even more substantive bull market for gold.
Sharps Pixley CEO Ross Norman told Barron’s that gold has seen a widespread, strong and sustained value appreciation around the globe against 72 currencies.
