Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)
POSTED ON June 18, 2019  - POSTED IN Key Gold Headlines

In an opinion piece published yesterday, a Chinese government newspaper called for the international community to find alternatives to the global dollar system and warned “capricious actions” by the United States government could “ruin the future of the dollar itself.”

This is yet another sign that the world is getting tired of the US weaponizing the dollar.

POSTED ON September 5, 2018  - POSTED IN Key Gold Headlines

With hyperinflation gripping Iran and sanctions strangling the economy, Iranians are beginning to turn to gold to make everyday transactions, most notably to pay their rent.

The Iranian rial has depreciated rapidly since the US announced its withdrawal from the 2015 nuclear deal and the reimposition of economic sanctions. After the US formally announced it was pulling out of the deal in May, the exchange rate peaked at around 45,000 rials to the dollar. But that official rate was only available to well-connected bankers, importers and businesses. Average Iranians were paying twice that.  By July 29, money-exchangers in Tehran were charging around 100,000 rials for one dollar. Within 24 hours, it increased to 110,000 rials to the dollar.

POSTED ON May 29, 2018  - POSTED IN Key Gold Headlines

Last week, we explained how economic sanctions on Iran could boost the price of gold as Iranians turn to the yellow metal as a way to skirt restrictions. In a recent article published by the Daily Reckoning, financial expert Jim Rickards put this in a broader context. He described an evolving “axis of gold” as a number of countries, including China, Russia, Turkey and Iran increasingly use physical metal to create an offensive counterweight to the dollar.

This gold-based payments system will dilute and ultimately eliminate the impact of US dollar-based sanctions.”

POSTED ON May 24, 2018  - POSTED IN Key Gold Headlines

Secretary of State Mike Pompano recently announced the US will impose the “strongest sanctions in history” on Iran. This follows Trump’s decision to pull the US out of a nuclear deal agreed to during the Obama administration.

Sanctions will certainly put significant economic pressure in Iran, but the country may be able to weather the storm using gold – and this could help push the price of the yellow metal up.

Call Now