Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold prices was notably recorded without the typical surge in public buying that usually accompanies such milestones. Instead, there has been a consistent outflow from gold ETFs, suggesting that the retail sector has been selling rather than accumulating during this rally.
ESG, or “Environment, Social, and Governance,” is the new feel-good buzzword in the halls of global corporations and megabanks. It’s a PR push to cloak morally disastrous firms in a veneer of social and environmental responsibility — lip service — but at the end of the day, I believe the market will speak.
When members of Congress aren’t passing laws, holding committee meetings, or more cynically fundraising endless dollars, some of them choose to pass the time by trading stocks. And for whatever reason, keen insight or perhaps insider trading, members of Congress tend to beat the market.
The Bible features more than 700 references to gold and silver, emphasizing their timeless significance. The term ‘gold’ alone appears in 47 of the 66 books of the Bible.
Beyond their current cultural relevance, these precious metals play a crucial role in scripture, highlighting three key attributes: their divine origin, intrinsic value, and monetary quality.
Total gold demand hit an all-time high in 2023, according to a recent report released by the World Gold Council.
Last week, the World Gold Council (WGC) released its Gold Demand Trends report, which tracks developments in the demand for and use of gold around the world. Excluding over-the-counter (OTC) trade, 2023 gold demand fell slightly from 2022 to just under 4,500 tonnes. With OTC demand accounted for, last year’s demand peaked at 4,899 tonnes, the highest figure ever recorded.
The VIX, often referred to as ‘Wall Street’s fear gauge,‘ is currently portraying a sense of calm among investors, registering well below the 20 level.
Gold prices have been on a tear, with bullion prices ripping upward since the outbreak of war in the Middle East late last year. While mining stocks have gone up as well, physical gold has been leaving them in the dust:
Valentine’s Day is here and you might find yourself buying (or wishing you had remembered to buy) a Valentine’s Day present. A classic romantic present involves gold, diamonds, and sometimes both. And both diamonds and gold seem at first blush to have a lot in common.
In the realm of institutional asset management, the copper/gold ratio (blue line) has served as a key indicator for some, providing insights into the potential trajectory of 10-year Treasury yields (red line).
There has been a lot of focus on the recent gold rally. It has even caught the attention of the mainstream. But silver has also been quietly running upward. In fact, the white metal has outperformed gold this month. While the yellow metal has gained about 8% on the month, silver is up 11%.
Yesterday (Aug. 27) gold was up $16 per ounce and closed at $1,542.50. It was the highest close in six years. But it was an even bigger day for silver. The white metal was up 53 cents and closed at $18.17. Peter Schiff has been pounding the table on silver in recent weeks, and he talked about the big silver rally in his latest podcast.
