Canadian mining legends Frank Giustra, CEO of Fiore Group, and Pierre Lassonde, Chairman Emeritus at Franco-Nevada, say the West has lost its power to set the price of gold. “The marginal buyer of gold is no longer the U.S. It’s no longer Europe. It’s China. Between the country’s central bank and the Chinese public, China […]
Gold Price Hits New Record Highs as the West Loses Price-Setting Powers Read More »
In an era where the global economy navigates through turbulence and uncertainty, gold’s allure seems to shine brighter than ever. Joe Cavatoni, Senior Market Strategist at the World Gold Council. “Gold as a pure investment is actually starting to get more interest and more momentum onshore… we had a 28% increase in annual demand, which
Central Banks’ Strategic Shift Towards Gold in an Uncertain Economy – Joe Cavatoni Read More »
In the last two years central bank gold purchases as its share in global demand has tripled, representing between 25% and 30% noted by Commodity analysts at ANZ. “[Emerging market] central banks could purchase over 600 tonnes of gold annually until 2030, to take its share in their foreign reserves to 10%. China will likely
Central Banks Are Turning To Gold As They Lose Faith In Bonds – ANZ Read More »
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices. Stockpiles of gold reported by the People’s Bank of China rose by about 740,000 troy ounces in October, according to official data released Tuesday. That’s equivalent
China Extends Run of Gold Buying That’s Helped Support Prices Read More »
Chinese investors sold $21.2 billion in US equities and Treasuries, the US Treasury said Wednesday. Chinese investors sold an all-time record $5.1 billion of US stocks that month. The onshore yuan had weakened against the dollar to its lowest point since November in August. Chinese investors offloaded $21.2 billion of US assets in the month
In the past three months, gold purchases totaled 219 tonnes and the WGC sees a string of fourth quarters for more buying. The World Gold Council (WGC) reports that in August, central banks bought 77 tonnes, 38% more than in July. China, Poland, and Turkey headed the list of buyers. Reports say that the
Central Banks Buy More Gold, China Leading the Way Read More »
House Majority Whip Tom Emmer, R-Minn., on Tuesday afternoon will reintroduce the Central Bank Digital Currency Anti-Surveillance State Act. a Republican-backed bill that aims to prevent the Federal Reserve and its member banks from issuing a digital version of the dollar and using it to implement monetary policy. 130 countries, representing 98% of the global
GOP Takes on Federal Reserve in Battle Over Digital Dollar Read More »
Peter Schiff explains- government spending has created the price inflation Americans continue to struggle with and how it has bankrupted the United States. The Biden administration keeps touting its “investments” in infrastructure and other programs. Meanwhile, average Americans continue to say they’re struggling with price inflation. “All of that government spending is being financed by
Government Spending Has Bankrupted the U.S. Read More »
De-dollarization could lead to a vicious cycle of economic destruction, according to an Australian economic think tank. That’s because waning use of the dollar could bring on hyperinflation, researcher Michael Roach said. Hyperinflation could lead to higher interest rates, which will weigh on asset prices, according to Roach. This outlook is furthered by speculation that
The BRICS bloc of countries are working on the creation of a new gold-backed currency that could potentially shift the global economic landscape. They seek to establish a currency partially backed by gold, challenging the US dollar’s dominance. How long this takes remains uncertain, the implications for savers and retirees in the US could be
The Dollar Failure: Challenges of a Shifting Global Reserve Currency Read More »
