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Posts published in “Gold”

Why Buy Silver Now That Biden is President

When people think of precious metals investing, usually an image of gold bars or coins comes to mind. However, this initial idea does not begin…

Gold And Silver Remain In The Early Stages Of The Next Bull Market

The financial world has turned its attention to gold. Gold has flirted with $2,000 an ounce, and silver has reached $26, before corrections. Meanwhile, as the mainstream press is urging the public to stay away from gold, the U.S. Mint announced it would be shutting down some of its production. But that’s perhaps not even the biggest news out of the precious metals markets.

Bitcoin ETP Volumes Decline in September

Bitcoin’s bearishness has led investors to exit certain crypto derivatives products leading to trading volumes decreasing. CryptoCompare reported volumes for cryptocurrency-based exchange-traded-products (ETPs) declined to but a fraction of their August totals. 

Perth Mint Sales Hit 4-Month High

Perth Mint bullion sales in August declined for silver products. On the other hand, they reached a four-month high for gold products. The Mint’s sales…

#17 Trace Mayer

Trace Mayer, an original proponent of Bitcoin, is an entrepreneur, investor, journalist, and monetary scientist. Along with degrees in accounting and law, he is a proponent…

Venezuela Sends $500 Million in Gold To Iran

Secretary of State Mike Pompeo accused Venezuela’s leaders of stealing nine tons of gold ($500 million worth) from the country’s reserve and shipping the bars to longtime ally Iran. Pompeo said in a tweet on May 2 that “thugs” from the regime of Venezuelan dictator Nicolas Maduro “looted” nine tons of gold bars and sent them to Iran, claiming Venezuela’s leaders were “partnering with the world’s leading state sponsor of terror.”

On The Coronavirus And Trump Derangement Syndrome

Trump instituted relatively early travel from bans from China and then Europe, issuing a January 31 order that banned foreign nationals flying from China. “Foreign…

JP Morgan Is Exiting Its Silver Shorts

JP Morgan and Citibank have long manipulated the price of silver via short positions on the futures market. These silver shorts ruin the silver price, according to Bill Murphy, the Gold Anti Trust Action Committee chairman and editor-in-chief of Le Metropole Cafe.

Many Can’t Afford To Miss Work

A new poll shows that nearly half of Canadians can’t afford to miss work and have no benefits on which to rely. 

Precious Metals Markets Face Logistical Challenges

The gold and silver market could face logistical challenges as part of the fallout from the coronavirus crisis.  Mints, such as the Royal Canadian Mint, have made headlines as they’ve closed. Some have speculated that mine and mint closures due to efforts to slow the spread of COVID-19 could create supply shortages.

The Coronavirus Outlook & The Global Economy

We’re likely not looking at a full recession like 2008, but global economies will reset amid the coronavirus pandemic. 

The RMB took a 20% hit. The Chinese government put an 175 billion liquidity injection into the markets. (600 million RMB had been destroyed due to Coronavirus existing on the bills.)

Dollar Vigilante Ed Bugos on Iran, Gold, Bitcoin, Monero, US National Debt & The Dollar

Edmond Bugos, gold analyst at the Dollar Vigilante, was kind enough to answer our questions. Thank you to Ed for his insightful, Austrian-minded look at current events and the gold market. Bugos talks geopolitical tensions in the Middle East, and how those might play out, as well as the implications there for gold. He also discusses how Bitcoin has been a boon for the precious metals market.

With the drone attack and news of Iran general Qasem Soleimani’s death, what could a destabilizing Middle East region mean for gold prices and why? What is unique today in 2020 about the relationship between gold and Middle East stability?

James Turk: “La mejor manera de ahorrar dinero hoy es acumular oro físico y plata física”

James Turk es uno de los nombres más reconocibles en dinero sólido. Su carrera comenzó en Chase Manhattan Bank con proyectos en Tailandia, Filipinas y Hong Kong. Posteriormente se convirtió en el gerente del Departamento de Productos Básicos de la Autoridad de Inversión de Abu Dhabi y desempeñó diversos roles de asesoramiento en la gestión del dinero.

Gold Price Could End Year With 15% Increase

Gold prices could end the year at more than 15% higher – their biggest annual increase in nine years.

“Gold has seen considerable safe haven buying from investors concerned [over] low and negative yields in the bond market and fearing a possible downturn in equities,” said George Milling-Stanley, chief gold strategist at State Street Global Advisors. Gold exchange-traded funds have also been “feeling the benefit of strategic asset allocation type buying by institutions and individuals.”

Gold Stays Steady Trading Amid Trade and Economic Uncertainty

Gold was steady headed into the end of the week. Investors have been waiting to see if new U.S. tariffs on Chinese goods would emerge by a Dec. 15 deadline and after the Federal Reserve’s decision to leave interest rates unchanged. 

Blockchain.com, Coinshares Launch Gold-Backed Token

DGLD, a network which claims to have over $20m in investment grade gold allocated in Swiss vaults and secured using Bitcoin, launched and is now available for purchase on Blockchain.com’s cryptocurrency exchange, The PIT.

DGLD, which was created by CoinShares, Europe’s largest digital asset manager, and Blockchain.com, and MKS (Switzerland), is a digital asset or token which, at creation, represents 1/10th of a troy ounce of physical gold stored in Swiss vaults for which token holders can swap or physically redeem.

The Rich Are Buying Physical Gold Bullion in Preparation for Recession

The rich are buying physical gold bullion, coins, and bars, according to Goldman Sachs.

“I think gold’s going to $2,500, $3,000 an ounce in the 2020s because the climate—the landscape for gold is so hugely supportive.” Paul Schatz, Heritage Capital president, told Yahoo Finance’s On The Move. Goldman predicted $1,600 gold by 2020.

Turkey to Loosen Rules Governing Gold Imports

Turkey, one of the world’s largest precious metals consumers, is planning to loosen rules governing the importation of gold. The country’s Treasury plans to allow the certification and standardization of scrap or unregistered gold people may carry when entering Turkey. The plan also includes the registration of gold brought without certification from the London Bullion Market Association, according to unnamed sources. 

Gold Price Increases Ahead of Tariffs Decision on Chinese Imports

The gold price increased Wednesday with a deadline for an additional round of U.S. tariffs on Chinese imports approaching. There is no so-called ‘phase-one’ deal in sight, and a U.S. central bank policy meeting could provide an outlook for 2020, causing either an increase or decrease in the price of gold.

Goldman Sachs is Bullish on Gold in 2020

After a strong first nine months of 2019, gold peaked at a nearly 25% gain at the onset of September. Goldman Sachs remains bullish on the yellow metal.

Mitsubishi Head of Business Dev: “Smart Money” is Turning to Gold as a Hedge

Central banks continue to buy gold after a summer rally that stalled as the calendar turned to fall. The latest Mitsubishi precious-metals update says many factors could sour 2020, and so therefore “smart money” is looking to gold as a hedge.

“Illustrating lingering macroeconomic concerns, the importance of diversification away from dollar assets and tail risk hedging, central banks around the world have continued to be net buyers of gold: November saw Turkey, Russia, Poland and newcomer Serbia (which bought 9 tons of gold) all add to their holdings of the yellow metal,” wrote Mitsubishi head of business development Jonathan Butler.

Survey: Bitcoin Mining Firm Finds Nearly One-Third of Americans Think US Dollar Backed by Gold

Genesis Mining, a cryptocurrency miner, found that one-third of Americans believe the US Dollar is still backed by gold. The dollar has not been backed by gold since 1973.

The survey, conducted in late September, included 1,000 participants. Its goal: to determine just how much U.S. citizens understood money. In late October, the miner found that 29% of those surveyed believed a gold reserve backed the U.S. dollar. 24% of respondents answered that the Federal Reserve was tasked to secure the nation’s gold reserve.

Weak U.S. Industrial Data Leads Array of Worrying Economic Indicators, Gold Remains Steady

There are several reasons experts presently warn of potential economic downturn. China’s growth has been slowing, despite recent positive reports, as the trade war wages on and geopolitical tensions increase. Among others, countries like Singapore and South Korea, who export manufactured goods to China, are slowing.

Positive economic signs do persist, with consumption remaining steady at 2%, and private residential investment increasing in the third quarter of 2019. (though this has steadily declined since the end of 2017). Despite this, business investment has begun to fall.

Chair of Slovakia’s Biggest Party: U.K. “Can Hardly” Be Trusted with Nation’s Gold

Slovakia’s former premier told parliament it should force the central bank to repatriate the nation’s gold, which is stored in the U.K. He said history has shown that allies “can hardly” be trusted.

Ex-Premier Robert Fico now chairs the biggest party in Slovakia. He seeks a special parliamentary session on the issue, claiming the gold isn’t safe in the U.K. because of Brexit and a possible global economic crisis.

Gold Price Declines Monday Due to Bullish Factory Reports Out of China

Gold prices declined Monday with investors turning to other asset classes after reports of an expanding Chinese factory sector and a rising dollar reduced demand.

Spot gold fell 0.3% at $1,459.94 per ounce at 0645 GMT. Prices had earlier reached highs dating back to Nov. 22. U.S. gold futures declined 0/5% to $1,466.

An expansion in factory activity during November in China, which ranks as the world’s second largest economy and biggest consumer of gold, led investors into equity markets.

An Interview with Steve Bellotti, Chairman of TCM Capital, An Advisor on The Perth Mint Gold Token

As we covered here, The Perth Mint Gold Token could prove to be an alternative to U.S. dollar-based stablecoins, such as Tether. While Tether is backed by dollars in a U.S. bank account, the Perth Mint gold token is backed by gold held by one of the most renowned precious metals refineries in the world.

GoldSilverBitcoin fielded answers about the Perth Mint Gold Token from the Chairman of TCM Capital, Steve Bellotti. TCM Capital AM Pty Ltd is the Advisor to the PMGT project.

Poland Repatriates 100 Tons of Gold from Bank of England

Poland repatriated approximately 100 tons of gold from the Bank of England to demonstrate the strength of the nation’s $586 billion economy, according to central bank Governor Adam Glapinski.

The institution also brought 126 tons home in 2018 and 2019, increasing its gold reserves to 228.6 tons. The country is now the 22nd largest bullion holder in the world and holds the biggest reserves of the metal in the European Union’s east, according to the central bank.

Goldman Sachs Bullish on Gold for 2020

Goldman Sachs has a bullish outlook on gold. Analysts at the investment bank see prices pushing to $1,600 an ounce next year. The price of gold currently sits at $1459.62. That is a nearly 10% gain from present day prices. December gold futures are trading at about $1,456.70 an ounce.

Perth Mint Gold Digital Token Could Be an Alternative to Stablecoins

InfiniGold is collaborating with the Perth Mint, the world’s largest refiner of newly minted gold, to release the digital token Perth Mint Gold Token (PMGT), which is backed 1:1 by GoldPass certificates issued by the Perth Mint. It could be an alternative to current stablecoins, especially Tether, which is backed by the US dollar. PMGT gives users ownership of government-guaranteed gold stored at The Perth Mint. The Mint touts benefits like real-time trading and settlement thanks to blockchain.

Gold Reverses as Global Stock Markets Gain Momentum

Spot gold hit a six-year high late last week. It is the first time since April 2013 prices soared so high – peaking at a value of $1,5334.31 an ounce. Due to this price bump, US gold futures rose by roughly 1.3% to $1,537 an ounce. Despite the positive momentum, these high levels could not be sustained over the weekend.

Several factors drive the current and future value of gold and silver. Weakness in the Argentine Peso, civil unrest in Hong Kong, and the US-China trade war has forced investors to seek safehaven.

Fed Could Cut Rates as Gold Hits Three Month High

Top Federal Reserve policymakers might cut interset rates if trade tensions continue to get worse.

Fed Chair Jerome Powell and his No. 2, Richard Clarida are watching disputes between the US and its trading partners. The next meeting of the Federal Open Market Committee takes place June 18-19, with Clarida noting that the Fed “can’t be handcuffed” by market pricing.

Adam Back: “Don’t Trust the Operator” Beaming Bitcoin from Space

Blockchain technology company Blockstream, which is one of several institutions funding the development of Bitcoin Core, announced in August 2017 the launch of a satellite network beaming bitcoin from space to people across earth without internet. Blockstream, to be certain, did not launch the satellites themselves. It is leasing bandwidth on four commercial satellites: GALAXY 18, EUTELSAT 113, TELSTAR 11N and TELSTAR 18V.

Former Digital Gold Developers Launch Token Sale for Cash, Micro-Lending System

(GoldSilverBitcoin) – Everex, formerly Midas Reserv, is making waves in the crypto-cash industry thanks to its contributions in cash-transfer technologies. Based on the Ethereum blockchain, Everex’s central product, Cryptocash, allows individuals to transfer cash across borders instantly in form of national currency on a blockchain. Applicable to remittance and cash transfers, Cryptocash is a digitized form of cash backed by national currencies thanks to Everex’s partner institutions.

Geopolitics Driving Gold

(Gold Silver Bitcoin) President Trump warned last week of a  “major, major conflict with North Korea”. He said he’d rather do things diplomatically, though it’d…