Saturday , December 14 2019
Home / Tag Archives: Key Gold Headlines (page 11)

Tag Archives: Key Gold Headlines

The Fed Isn’t the Only Game in Town: The ECB Takes a Decidedly Dovish Turn

All eyes will focus on the Federal Reserve as it wraps up its June meeting. But it’s important to remember the Fed isn’t the only game in town. Moves by the European Central Bank also have a significant impact on the global economy (and the gold market) and it has taken a decidedly dovish turn.Most analysts expect the Fed to hold interest rates steady in June, but potentially set the stage for a July rate cut. (Although Jim Grant said he thinks the Fed will actually cut this month.)In some...

Read More »

China Dumps More US Treasurys

China dumped more US Treasurys in April, selling off another $7.5 billion in US debt, according to the latest US Treasury Department data.  This follows on the heels of the biggest US Treasury selloff by the Chinese in nearly 2 1/2 years in March.Over the last two months alone, the Chinese have dumped some $17.5 billion in US debt.After a four-month pause, the big March sell-off resumed a trend of Chinese Treasury divestment we saw in 2018. Over the last 12 months, the Chinese have shed...

Read More »

China Urges International Community to Find Alternatives to ‘Weaponized’ US Dollar

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. We’ve been reporting on efforts by countries like Russia and China to minimize their exposure to the dollar, and we’ve speculated that...

Read More »

How High Can Consumer Debt Go Before the Bubble Pops?

Consumer debt climbed to a new record once again in April. The question is how much money can American consumers borrow before the bubble pops?Americans borrowed money at the fastest pace in five months in April, according to the latest Federal Reserve Consumer Credit Report. Total consumer credit increased by $17.5 billion. That’s an annual growth rate of 5.2%Americans currently owe nearly $4.07 trillion.The consumer debt figures include credit card debt, student loans and auto loans, but...

Read More »

US Government Runs Biggest May Budget Deficit in History

If you were thinking federal government spending might slow down a bit after the national debt crossed the $22 trillion mark – well, it didn’t.Last month, the federal budget deficit came in at $208 billion, according to Treasury Department data. It was the largest May deficit in history.Uncle Sam spent $440 billion last month, up 21% year-on-year. Receipts increased to $232 billion, up 7% from May 2018.There were some calendar effects that shifted about $50 billion in payments from June...

Read More »

European Alternate Payment System to Circumvent US Iran Sanctions Nearly Ready

A European payment system set up to circumvent US sanctions on Iran will be ready soon, according to German Foreign Minister Heiko Maas.This is yet another move in a global effort to minimize dependence on the US dollar.According to an report, Maas recently met with Iranian President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif in Tehran in an effort to salvage the nuclear arms deal negotiated in 2015. Pres. Trump withdrew the US from the agreement last year.The new payment...

Read More »

Indian Gold Demand Surged in April and May

After a dip in demand in 2018, it appears Indians are buying gold again.Anecdotal data seemed to indicate strong demand for the yellow metal in India during the Akshaya Tritiya holiday. Retailers reported sales were up by as much as 25%. As it turns out, demand was indeed strong. Gold imports into India were up 36% year-over-year in May, according to sources cited by . India imported 105.8 tons of gold in May. That compares with just 77.6 tons a year earlier. Combined shipments of gold...

Read More »

More Gold For China

China added to its official gold reserves for the sixth straight month in May as it continues efforts to minimize exposure to the dollar.The People’s Bank of China increased its gold reserves by another 15.86 tons last month, according to data released by the bank on Monday. That raises the official Chinese gold reserves to 61.61 million ounces (1925.26 tons). Since the Chinese central bank started adding gold to its official reserves again last December, it has accumulated more than 73...

Read More »

No Pause in Central Bank Gold-Buying

Central banks bought more gold in April, according to a report by the World Gold Council. This continues a gold-buying spree that stretches back to last year.Globally, central bank net purchases of the yellow metal totaled 43 tons. That is an 8% increase month-on-month. Reported net purchases total 207 tons so far in 2019. That ranks as the highest year-to-date increase in gold reserves since central banks became net buyers in 2010.According to the WGC, “This could be viewed as a strong...

Read More »

Buckle Up! Oil and Gold Flashing Recession Warning Signs

Oil and gold are marching in opposite directions. If history is any indication, that’s not good news for the US economy.Oil prices fell sharply starting late last week and through the early part of this week. On Monday, West Texas Intermediate crude touched $53.25, the lowest level since February. Meanwhile, the price of gold surged, blasting through the $1,300 mark to reach prices not seen in more than a year.Some of the same factors are driving gold’s climb and oil’s fall – heightened...

Read More »