The answer is the central banks of governments around the world. They are on a gold-buying spree! And they are using money they used to keep in US dollars. We think they know something most people don’t know. In fact, we’ve seen this pattern before. Let me explain. The World Gold Council reports […]
Central Banks Continue the Gold Rush The importance of the rush of the world’s central banks to buy gold cannot be over-emphasized. After all, how could a class of gold buyers that already own 30,000 tons of gold and are intent on acquiring more not deserve our full attention? We think that this move to gold is a […]
Sometimes key insights and financial news, things that shed light on the value of the dollar, the solvency of the country, and gold, come our way at a furious pace. As part of our commitment to keep our clients and readers informed, we occasionally assemble them in one post. Cities Can’t Pay Their Bills […]
Central Banks Continue Agressive Acquistions of Gold The world’s central banks were aggressive gold buyers in 2018, according to a new World Gold Council report. The banks’ gold acquisitions jumped an astonishing 74 percent over the year before. Altogether central banks added 651.5 metric tons to their official gold reserves in 2018, according to the WGC. Driven in part by […]
It was a rough week for the stock market. Commentators and headline writers are calling it everything from a rout to a bloodbath. The Dow Industrial average is down 8.4 percent from its recent record high. The Nasdaq market is 13 percent lower, while the S&P500 is off about 10 percent. The fun of the last […]
World Reserve Currency Breakdown: Abandoning the Dollar Standard Today I’d like to alert you to what is happening to the dollar’s role on the world stage. But first, the backstory: In more sensible times, back before trillion-dollar deficits and a national debt that runs to fourteen places (think about that!), the US was on a […]
Trade War Fears Spark Market Sell Off It was another dramatic week for the markets as the Dow fell over 700 points on Thursday due to trade war fears. In fact it was the worst week for stocks in over two years. President Trump announced the likelihood of tariffs on at least $50 billion worth […]
Mixed Week for Gold and the Markets Gold had an up and down week. It was under $1,320 to start out Monday, but during the week it rallied past $1,325. However on Friday it pulled back again to around $1,315. Silver followed a similar rise and fall pattern. The stock market was similarly choppy. It […]
Mixed Week for Gold Starts with Rally It was a mixed week for gold this week. Monday started out with gold continuing its upward move from last week and crossing $1,330 midweek. On Friday though it fell to just over $1,320. Silver also had a midweek spike. By Friday though, metals pulled back initially as […]
Possible Trade War? It’s Time to be Looking Back at the Smoot Hawley Act of 1930 History has a cyclical way of repeating itself, and looking back at the Smoot Hawley Act could provide some crucial lessons right now. The big news of the week for the economy was President Trump’s announcement that the U.S. […]
Russia Passes China in Gold Holdings as Gold Buying Goes Up Around the Globe The Russian central bank passed China last year in increasing gold holdings as gold buying goes up around the globe. Russia has been buying gold every month for almost three years, while China’s accrual has tapered off slightly. This past month, […]
October Spending Hit a Quarter of a Trillion Dollars The big story right now that no one is talking about is that October spending hit a quarter of a trillion dollars. October is generally considered a better month for the U.S. Treasury Department with the additional revenue of tax extension filers, but even with the […]
Dollar Index Drove Gold This Week While Treasuries Hit 5 Month High Building on recent strength, the dollar index drove gold down slightly this week. Gold prices hovered in the mid $1270 range all week. Silver started the week just short of $17 and closed lower at about $16.77. Stocks were up at the beginning […]
Gold In Holding Pattern During Quiet Week and Stock Market Highs Not much to report on precious metals after a quiet week and stock market highs keeping gold from moving up much. Starting the week, gold touched just above the $1,300 mark, but maintained roughly between $1,285 and $1,290 the rest of the week. The […]
Gold Was up This Week and Reached $1,300 Again After a couple weeks of resistance, gold was up this week and closed Friday just above the important $1,300 mark. Gold climbed steadily from the 4 week low it hit last week despite some slightly more positive global economic growth data. Geopolitics was a drive for […]
Complacency in the Markets Affecting Gold Negatively This Week The stock market continues to set new highs this week. As these records rack up, there is right now a great deal of complacency in the markets affecting gold. Gold fell slightly again this week under pressure from new stock market highs and interest rate talk. It […]
After an Initial Rally, What Weighed on Gold Prices This Week? Gold opened the week just over $1,300, but fell mid-week below $1,290. By Friday, gold had made back some of of those gains to close up. More bellicose rhetoric from North Korea sparked the initial flight to safety. So what weighed on gold prices? There […]
Gold Rally Met Resistance This Week and Prices Dipped – Buying Opportunity? A couple weeks ago gold hit a year high, but the gold rally met resistance this week and prices dipped. Gold fell most of the week, but was able to turn positive late Friday to close out the week just under $1,300. Silver […]
Metals Pull Back, but Gold Looks Poised for a Break Out After reaching $1,350 last week, gold hit some resistance this week, though it maintained its position over $1,350 to close out the week at approximately $1,325. However, gold looks poised for a break out for a few different reasons including an increasingly shaky dollar […]
A Plunging Dollar Sent Gold Higher This Week The recent metals rally continued this week as a plunging dollar sent gold higher. Gold opened after the long weekend just over $1,330 and by Friday had hit $1,350. There were many factors impacting the markets this week including the Democrats’ and Trump’s agreement on the debt […]
Gold Continues to Climb above the Crucial $1,300 Mark Reaching its highest level this year, it was another shining week for metals, as gold continues to climb above the crucial $1,300 mark. It opened the week around the $1,305 mark, and closed just over $1,320 to head into the long weekend. Fed comments, more North […]
Gold Chases Last Week’s Highs of $1,300 Last week gold hit $1,300 for the first time in 2017. Although it eased back slightly this week, still gold chases last week’s highs. Gold opened the week at $1,289 and closed at $1,290. Mid-week it climbed over the $1,290 mark to nearly reach $1,300 again. Political uncertainty […]
$1.4 Trillion Dollar Deficit That No One Is Talking about In the 2016 fiscal year, the U.S. hit a 1.4 trillion dollar budget deficit, and no one is talking about it. October marked the start of a new fiscal year, and 2016 closed with a deficit three times larger than the previous year. It is […]
Ben Bernanke Predicts Fed Won’t Raise Rates For months now investors have been expecting the Federal Reserve to raise interest rates. Events such as the May jobs report data, the June Brexit vote, and a lack of economic growth in Q2 have forced the Fed to continue to delay hiking rates. There is much […]
Gold and Silver Prices Strong This Week, Stocks Vulnerable Gold and silver prices continued rise this week following its strong close the previous Friday. Ominous signs about the stability of the U.S. economy started to become apparent after a much weaker than expected jobs data report last week. A few days prior, Janet Yellen, chair […]
[VIDEO] Leading Wall Street Analyst: Gold Will Hit $1900; Get In Now Market Analyst Peter Boockvar was interviewed on CNBC this week saying that gold is in the beginning of a new bull market. He believes many are reading the market wrong and that gold and silver still have a ways to climb. Boockvar said […]