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Is the US losing its grip on the world? And could the dollar ultimately be dethroned from its spot as the world’s reserve currency? We’ve reported extensively on countries working to undermine dollar hegemony and reduce the United States’ ability to weaponize the dollar as a foreign policy tool, along with the global gold rush on […]
Central banks added more gold to their reserves last month, continuing a trend that stretches back into last year. Globally, central banks added another 31 net tons of gold in March, according to the latest report by the World Gold Council based on International Monetary Fund data. That brings the total increase in central bank […]
This has become a monthly feature here a SchiffGold News – Russia buys more gold. The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up […]
Central bank gold purchases hit a level not seen since 2008 through the first two months of 2019. Central banks added 90 tons of gold in the first two months of this year according to the latest report by the World Gold Council. This compares to 56 tons through the first two months of 2018 […]
We’ve been following a number of central banks that have been buying gold recently, specifically the Russians and Chinese. But these two central banks aren’t alone. In fact, central bank gold-buying has surged over the last couple of years. What’s behind this trend?
Russia continues to buy gold as it seeks to minimize exposure to the US dollar. According to information released by the Central Bank of Russia last week, it purchased another 31.1 tons of gold in February, bringing its total reserves to 2,149 tons.
China added to its official gold reserves for the third straight month in February as the country continues efforts to minimize its exposure to the US dollar. The People’s Bank of China added 10 tons of gold to its horde last month. It has accumulated an additional 32 tons of the yellow metal since the […]
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.
During a speech at the lower house of the Russian parliament, the CEO of the country’s key trading floor suggested Russian investors should replace investments they’ve made in dollars with gold. “Let’s offer an alternative to the US dollar in the form of Russian gold, which we produce… investment gold,” Moscow Exchange (MOEX) CEO Alexander […]
China officially added gold to its reserves last month for the first time in two years. Meanwhile, the Chinese have been shrinking their holdings of US Treasuries. According to the Nikkei Asian Review, the moves are intended to reduce dependence on the US dollar. According to data released by the People’s Bank of China, the […]
