Category Archive: 6a) Gold & Monetary Metals
Gold Tops $1,300/oz As Trade Wars Escalate and Increased Risk of U.S. War With Iran
Gold sees safe haven demand push it to highest in one month as it breaches key $1,300/oz and £1,000/oz levels. U.S. China trade wars escalates as China retaliates and imposes tariffs on $60 billion of U.S. goods. Increased risk of war in Middle East after U.S. alleges Iran bombed Saudi oil vessels destined for the U.S.
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New Federal Legislation Requires Full Audit of America’s Gold Reserves
Washington, DC (May 8, 2019) – U.S. Representative Alex Mooney (R-WV) introduced legislation this week to provide for the first audit of United States gold reserves since the Eisenhower Administration.
The Gold Reserve Transparency Act (H.R. 2559) – backed by the Sound Money Defense League and government accountability advocates – directs the Comptroller of the United States to conduct a “full assay, inventory, and audit of all gold reserves,...
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World’s Central Banks Want More Gold – India May Buy 1.5M Ounces In 2019
Royal Bank of India (RBI) may buy another 1.5 million oz this year according to OCBCMany other central banks including large creditor nations Russia and China are also adding to gold holdings. India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide gold bullion demand as top economies diversify their reserves.
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SWOT Analysis:Venezuela Sells $400 Million Worth Of Gold Bullion
The best performing metal this week was palladium, up 3.52 percent as CPM Group noted that the price could climb to $1,800 on supply constraints. Gold traders and analysts switched from bullish to mostly neutral or bearish on the yellow metal this week, according to the weekly Bloomberg survey.
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Washington State Politicians Drop Cynical Attempt to Impose Taxes on Gold & Silver
Well, here’s some encouraging news… Efforts in Washington State to impose sales taxes on gold and silver were SHUT DOWN today thanks to intense efforts by the Sound Money Defense League, a group of in-state coin dealers led by Dan Duncan, the Association of Washington Businesses, and a large number of vocal grassroots supporters.
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West Virginia Joins Growing Sound Money Movement – Six Other States Now Weighing Their Own Bills to End Taxes on Gold & Silver
Before the ink could even dry on West Virginia Governor Jim Justice’s signature on a repeal of sales taxation on gold, silver, platinum, and palladium bullion and coins, legislators in Wisconsin and Maine introduced similar measures in their own states.
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Brexit and Learning To “Live With Boom and Bust Economic Cycles”
Generations of people have learned to live with boom and bust economic cycles. Years of relative plenty were followed, as night follows day, by grief including high unemployment and forced emigration on a large scale. In fact, if you go back much beyond the late 1960s, it would not be too cynical to say the cycles were often more about going from bust to really busted, as for decades the country was hit by crippling rates of largely enforced...
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Gold Gains On Recession Concerns and ‘No Deal’ Brexit Risks
– Gold gains due to concerns about slowing growth, monetary and geopolitical risks
– Increasing possibility of ‘No Deal’ Brexit heightens recession risks in UK, Ireland
– Brexit uncertainty is impacting UK & Irish economies; Likely do long term damage
– UK sees sharp slowdown in mortgage approvals in February as housing market slows
– Gold surges to near all time record highs in Australian dollars at $1,860/oz
– Gold in sterling, euros and...
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