Category Archive: Gold and its Price

Main Author Keith Weiner
Keith Weiner is president of the Gold Standard Institute USA in Phoenix, Arizona, and CEO of the precious metals fund manager Monetary Metals. He created DiamondWare, a technology company that he sold to Nortel Networks in 2008. He has his PhD from the New Austrian School of Economics. He lives with his wife near Phoenix, Arizona. In March 2015 he moved his Gold Standard column from Forbes to SNBCHF.com.

China Gold Reserves Rise To 60.26 Million Ounces Worth Just $79.5 Billion

China increased its gold reserves for a third straight month in February, data from the People’s Bank of China (PBOC) showed this morning. The value of China’s gold reserves rose slightly to $79.498 billion in February from $79.319 billion at the end of January, as the central bank increased the total amount of gold reserves to 60.260 million fine troy ounces from 59.940 million troy ounces.

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U.S. Mint Suspends Silver Bullion Coin Sales After Sales Double In February

U.S. Mint suspends silver bullion coin sales after sales double in February. Silver investment demand for American Eagles (one ounce) silver bullion coins depletes West Point Mint inventories. U.S. Mint suspended sales of American Eagle (1 oz) coins on Feb. 21 because it had no coins left to sell.

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Is Lending the Root of All Evil? Report 24 Feb

Ayn Rand famously defended money. In Atlas Shrugged, Francisco D’Anconia says: “So you think that money is the root of all evil? . . . Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them.

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Gold Prices In Pounds and Euros Gain More as Economic Growth Falters in the UK and EU

Gold prices in pounds and euros as economic growth falters in UK and EU. Euro & pound gold tests multi year resistance; likely to surpass due to strong demand. Improved risk appetite sees stocks rise which may be hampering stronger gains for gold.

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Quantum Metal Lease #1 (gold)

Monetary Metals leased gold to Quantum Metal, to support the growth of its gold distribution business through retail bank branches. The metal is held in the form of retail Perth Mint bars.

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Large Gold Bullion Shipment Moves From London to Dublin Gold Vaults As Brexit Concerns Deepen

-Large Gold Bullion Shipment Moves From London to Dublin Gold Vaults As Brexit Concerns Deepen. – Growing demand from investors to relocate tangible assets out of the UK. – “Zurich continues to be the most sought-after location for storage, but Dublin has already surpassed Hong Kong and will likely usurp the second spot from London”.

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Gold Consolidates Above $1,300 After 1.2 percent Gain Last Week

Gold futures settled above $1,300 an ounce on Friday, with prices for the yellow metal at their highest since June as the U.S. dollar pulled back and investors eyed geopolitical turmoil and global growth worries. Rising gold prices reflect “political uncertainty” in the U.S., Eurozone, Venezuela and pockets of South America, as well as China-U.S. trade talks, said George Gero, managing director in RBC.

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Political Turmoil in UK & US Sees Gold Hit 2 Week High

For first time in over 16 years, palladium futures settle at a premium to gold futures. Gold futures on Wednesday resumed their climb toward the psychologically important price of $1,300 an ounce, settling at their highest in nearly two weeks on the back of political turmoil in the U.K. and U.S.

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Gold Holds Steady Near $1,300/oz As Geopolitical Risks Including Brexit Loom Large

Gold Holds Steady Over £1,000 – Increased Likelihood Of A Disorderly Brexit. – Gold supported near $1,300/oz ahead of important British Brexit no-confidence vote. – Gold is consolidating in range between $1,280 and $1,300/oz (over £1,000/oz and €1,100/oz) – A break of resistance at $1,300 will likely see gold rise rapidly in all currencies.

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Rising Interest and Prices, Report 13 Jan 2019

For years, people blamed the global financial crisis on greed. Doesn’t this make you want to scream out, “what, were people not greedy in 2007 or 1997??” Greed utterly fails to explain the phenomenon. It merely serves to reinforce a previously-held belief.

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Gold Outlook 2019: Uncertainty Makes Gold A “Valuable Strategic Asset” – WGC

As we look ahead, we expect that the interplay between market risk and economic growth in 2019 will drive gold demand. And we explore three key trends that we expect will influence its price performance: financial market instability, monetary policy and the US dollar, structural economic reforms.

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Blackrock Say Gold Will Be A “Valuable Portfolio Hedge” In 2019

“We’re experiencing a slowdown,” says Blackrock fund manager. Global Allocation Fund adding to gold exposure through ETFs. Gold “has had a very consistent record of helping mitigate equity risk when volatility is rising”. Gold bullion has been a “store of value for a very long time”.

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China Adds 320,000 Ounces To Gold Reserves – First PBOC Purchase Since October 2016

China increases gold holdings by large 320,000 ounces. Gold bullion remains a tiny component of the People’s Bank of China massive foreign exchange (FX) reserves which rose to $3.073 trillion. China’s gold reserves rose for first time since October 2016 to 59.56 million ounces by the end of December (1,853 metric tons) from 59.24 million ounces. Gold climbed 5% in December on equity rout, growth concerns

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Surest Way to Overthrow Capitalism, Report 6 Jan 2019

One of the most important problems in economics is: How do we know if an enterprise is creating or destroying wealth? The line between the two is objective, black and white. It should be clear that if business managers can’t tell the difference between a wealth-creating or wealth-destroying activity, then our whole society will be miserably poor.

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Change is in the Air – Precious Metals Supply and Demand

Last week, the price of gold rose $25, and that of silver $0.60. Is it our turn? Is now when gold begins to go up? To outperform stocks? Something has changed in the supply and demand picture. Let’s look at that picture. But, first, here is the chart of the prices of gold and silver.

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Gold Prices Likely To Go Higher In 2019 After 4 percent Gain So Far In Q4

Gold traders appear excited about gold again as stocks are on pace for their worst year since 2008, and their worst December since 1931. Bullish bets on the yellow metal outnumbered bearish ones for the week ended December 11, resulting in the first instance of net positive contracts since July, according to Commodity Futures Trading Commission (CFTC) data.

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Gold and Silver Gained 2 percents and 3 percents Last Week While Stocks Dropped Nearly 5 percents

Gold acted as a safe haven last week and is again acting as a safe haven in December. It has performed well despite the rout in stocks in Ireland and globally. U.S. stocks including the S&P500 and Nasdaq were down nearly 5% last week, while gold was 2% higher and silver over 3% higher.

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Gold ETFs See Strong Demand In Volatile October After Robust Global Gold Demand In Q3

Gold ETFs saw inflows in volatile October as investors again hedged risk. Gold ETFs see demand of 16.5 tonnes(t) in October to total of 2,346t, the equivalent of US$1B in inflows. Global gold demand was robust in Q3 – demand of 964.3 tonnes – plus 6.2t yoy.

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Does the recent spate of Central Bank gold buying impact demand and price?

There has been a lot of media coverage recently about the re-emergence of central bank gold buying and the overall larger quantity of gold than central banks as a group have been buying recently compared to previous years. For example, according to the World Gold Council’s Gold Demand Trends for Q3 2018, net purchases of gold by central banks in the third quarter of this year were 22% higher than Q3 2017, and the highest quarterly level since Q4 of...

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Gold Analysts At LBMA See 25percent Return To $1,532/oz In 12 months

The price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association’s (LBMA) annual gathering predicted on Tuesday. A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year’s time for silver, platinum and palladium.

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