China takes up over two-thirds of all the annual production…That’s where the gold price is set. During the first two months of 2024, China imported 367 metric tons of gold for non-monetary use. That was a 51 percent increase from the same period in 2023. Gold jewelry, coins, and bullion sales in China rose 24 […]
Could the Shift of Gold West to East Set the Stage for a New Gold-Backed Currency? Read More »
Gold is up 40% from Oct 2022 lows. Central banks emerged as a driver of this multiyear rally by buying gold bullion at unprecedented levels. Historically, prices track holdings in bullion-backed exchange-traded funds, a proxy for Western demand. However, that logic was turned on its head as gold gained in the face of persistent ETF
Gold Continues to Boom. The Major Buyer: Central Bankers Read More »
“It is held by central banks for this reason,” he said. “In fact, gold is the third-most-held reserve currency by central banks.” Ray Dalio, the former Bridgewater Associates CEO said he is holding gold as a hedge against a potential debt crisis and higher inflation. The IMF projects that public debt in the world’s two
Against the backdrop of escalating tensions in the Middle East, major financial institutions on Wall Street are revising their gold price forecasts upward. Goldman Sachs holds a bullish outlook, setting a target of $2,700, while Bank of America projects an even higher expectation at $3,000. UBS presents an even bolder forecast, envisioning an impressive $4,000
$4K Gold? Banks’ 2024 Gold Price Forecasts Surge Read More »
Gold has been a store of value for thousands of years. As of today, gold is up 800% over the past 25 years. Gold is also a safe-haven for investors as gold acts as a hedge against inflation during economic turmoil, delivering profits. This puts the commodity on a pedestal and is among the most
Gold Delivered 25% Profits Year-On-Year For 25 Years Read More »
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 »
Europe is entering a “prewar” era, cautioning that the continent is not ready and urging European countries to step up defense investment, said The Polish prime minister, Donald Tusk. Tusk said: “I don’t want to scare anyone, but war is no longer a concept from the past. It’s real and it started over two years
Europe Must Get Ready for Looming War, Donald Tusk Warns Read More »
“Gold continues to play a critical role in the global financial system, serving as a hedge against inflation, a safe haven asset, and a reserve asset for central banks,” Alimukhamedov notes in the introduction. “The role of gold as a reserve asset for central banks has been a significant driver of demand for the precious
World Bank Reveals Why Central Banks Are Dumping Greenbacks for Gold Read More »
Florian Grummes, Managing Director at Midas Touch Consulting, said that gold’s rally above $2,200 an ounce has definitively ended a 13-year correction. “Regardless of short-term pullbacks or interim consolidations, this likely signifies only the beginning of the next major uptrend in the precious metals sector,” he wrote. One reason why Grummes is optimistic that a
Analysts say silver appears well-placed to outshine the yellow metal in the second half of the year. Precious metal prices have pushed higher in recent weeks amid growing expectations of U.S. interest rate cuts. Earlier in the year, the Silver Institute said in a report that global silver demand was expected to reach 1.2 billion
