Central bankers and politicians actively intervene in the gold market. This may sound like a tin foil hat conspiracy theory, but there is plenty of evidence right out in the open. Chris Powell co-founded the Gold Anti-Trust Action League (GATA) to expose the scheme. In this episode of It’s Your Dime, host Mike Maharrey and Powell talk about how government’s and central banks manipulate the market using “paper gold,” and what it means to you.
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 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.
Peter Schiff has mentioned before that about 25% of the stocks listed on the S&P 500 have already slipped into bear market status. A recent article published by ZeroHedge confirmed what Peter said, and further indicated that a big chunk of the stocks in the index appears to be in trouble.
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.
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.”
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.
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.
We’ve been saying gold and silver are on sale. Well, it appears investors are taking advantage of the bargain.
The sale of American Gold Eagle coins surged in September, according to the latest data from the US Mint. Investors snapped up 60,500 ounces of Gold Eagle bullion coins in various denominations. That compares with just 35,500 ounces in August — a 41% increase.