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Tag Archives: Key Gold Headlines

ETF Gold Holdings Hit Highest Level Since March 2013

Gold holdings in gold-backed ETFs globally surged to the highest level in over six years in July.Gold-backed ETFs added 52 tons of gold last month, with net inflows totaling $2.6 billion, according to the latest data released by the World Gold Council. This follows on the heels of a June increase that totaled 127 tons.Globally, gold-backed funds now hold 2,600 tons of gold. That’s the highest level since March 2013.The WGC says a combination of economic concerns, trade tensions and...

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Silver Charts Biggest Single-Day Gain Since 2016

Gold pushed above $1,500 again Wednesday (Aug. 7) and silver joined the party, charting its biggest single-day gain in nearly three years.Silver surged 73 cents on the day for a 4.4% gain, closing above the key $17 level for the first time since January 2018. Silver has gained about 9.3% on the year.Continued trade war woes and more central bank easing helped drive both gold and silver higher.New Zealand’s central bank cut interest rates by 50 basis points to 1.50%. According to a report,...

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A Race to Hell: Negatively Yielding Debt Tops $15 Trillion for First Time Ever

Negative yielding debt has exceeded $15 trillion globally for the first time ever.This pile of negatively yielding paper includes government and corporate bonds, along with some euro junk bonds. called it a “race to hell.”As the  put it last month, negative bond yields were once considered to be “economic lunacy.” Now they are economic normalcy.The Federal Reserve could have at least slowed the race down this road to hell with ist normalization project, but that didn’t go very far. The...

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Gold Hits Record Highs!

Gold hit record highs in a number of currencies on Monday as trade war worries, geopolitical uncertainty and expectations of a slowing economy drove investors to seek safe haven.During a recent interview on Fox Business, Peter Schiff said the trade is to get out of the dollar and look at gold. As if to prove him right, gold shot up about 1.5% Monday in dollar terms, hitting a six-year high. The yellow metal pushed to $1,469,60 before some profit-taking stalled the rally.Silver also made a...

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Gold Demand Hit Three-Year High Through First Half of 2019

Gold demand jumped to a three-year high through the first half of 2019, driven by central bank gold-buying, inflows of metal into ETFs and a resurgence of Indian jewelry demand.Gold demand totaled 2181.7 tons through the first half of the year, according to the World Gold Council Gold Demand Trends Q2 2019 report. It was the strongest gold demand through the first half of a year since 2016.Global demand for the yellow metal was up 8% year-on-year in the second quarter, coming in at 1,123...

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Watch Out America: China and Russia Are Coming After the Dollar

We’ve reported extensively on the central bank gold-buying spree that has been going on for nearly two years. Russia and China have led the way, along with several other countries including Turkey, Kazakstan, India and Poland.Central banks are buying gold to diversify reserves and minimize exposure to the dollar. This has been the mainstream narrative and it’s true. But China and Russia have a bigger geopolitical objective. They want to undermine dollar hegemony and reduce the United...

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Central Bank Gold-Buying Continued Unabated in June

Central banks continued to buy gold in June according to the latest data released by the World Gold Council.Globally, central banks added a net 126.5 tons of gold to their reserves last month, led by the announcement of a 94.9 increase in Polish gold reserves. That brings total reported central bank gold purchases on the year to approximately 378 net tons.The World Gold Council bases its data on information submitted to the International Monetary Fund.We reported on Poland’s big increase...

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Gold Is Real Money — And Life Insurance

Warren Buffet once said, “[Gold] doesn’t do anything but sit there and look at you.”So, why buy gold?Because gold is real money. And in a world of fiat currencies, it’s life insurance. We can classify gold in three ways. We can view it as an asset, a commodity or as money. Gold does exhibit characteristics of both assets and commodities, but ultimately, gold is money. When you look at things from that perspective, Buffett’s attitude doesn’t make as much sense. I doubt you would ever hear...

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America Doesn’t Have a Wage Problem; It Has a Money Problem

The minimum wage debate obscures a more significant problem in America. We don’t primarily have a wage problem. We have a money problem. Government devaluation of the dollar over the years has stolen money from average Americans. But instead of dealing with the core issue, the fight centers around wage policy and offers solutions that will just exacerbate the problems.While we’re on the subject, a recent study by the Congressional Budget Office put a little bit of a damper on the “Fight...

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What Is Counterparty Risk and How Can You Minimize It?

One of the reasons to own physical gold is that it doesn’t come with any counterparty risk.In simplest terms, counterparty risk is the chance that one party in a financial transaction will default on its contractual obligation. My asset is somebody else’s liability. If I loan you money, there is always the possibility that you won’t pay me back. Or consider buying a stock. There is a risk that the company will go bankrupt and the value of that stock will go to zero. Investments with lower...

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