Peter's Blog

Germany’s Budding Love Affair with Gold

We talk a lot about India’s love affair with gold. The Asian nation ranks as the second largest gold consumer in the world, behind only China. Gold is intimately intertwined with Indian cultural and marriage rights, and it serves as a vital cog in India’s economy,  both above ground and underground.  But the yellow metal has a new […]

The News of Gold’s Demise Is Greatly Exaggerated: Why Cryptos Won’t Kill Gold

Cryptocurrencies have shown a lot of resiliency. Every time doubters proclaim Bitcoin is on the mat for good, it manages to claw its way back up. Bitcoin went into a freefall after the Chinese government announced plans to ban cryptocurrency trading on all domestic exchanges. But early Monday, the digital currency hit its highest level since early September. […]

Indian Gold Demand Up in September Even With Tax Rule

After nearly tripling in August, demand for gold in India remained strong last month, despite a tax rule that put a damper on high-dollar jewelry purchases. Gold demand rose 31% year-on-year in September. Imports came in at 48 tons, according to a Reuters report. Higher purchases by India, the world’s second-biggest consumer, could lend support to global […]

Reversal of Tax Rule Could Boost Gold Demand in India

The Indian government has reversed a tax rule that was putting a damper on gold demand in the country. The government included Indian jewelers under the Prevention of Money-Laundering Act last August. The rules increased compliance requirements for high dollar jewelry purchases. Buyers had to provide their income tax identity for transactions above 50,000 rupees […]

Fed’s Monetary Tightening Could Become a Havoc-Wreaking Juggernaut

The price of gold has fallen four straight weeks, primarily driven down by anticipation of Federal Reserve monetary tightening. The kickoff of the Fed’s balance sheet normalization program and the expectation of rising interest rates have helped spark a dollar rally. But few people seem to be paying any attention to the pitfalls of quantitative […]

Committee Forming to Establish Indian Spot Gold Exchange

The World Gold Council has announced plans to form a committee that will help set up India’s first physical gold exchange. Officials say they hope to have the exchange up and running in 12 to 18 months. The committee will not actually set up the exchange, but will provide guidance. WGC Indian operations managing director […]

Gold-Backed ETF Holdings Climb Again in September on North American Demand

After surging in August, gold continued to flow into ETFs last month, signaling continued strong demand for the yellow metal – specifically in North America. According to the World Gold Council, gold-backed ETF holdings increased by 22.4 tons in September. This follows on the heels of a 31.4 ton increase in August.

Hartford and America: Suffering the Consequences of Political Malfeasance

What happens when government officials spend with virtually no restraint and they don’t have a printing press that can crank out more money? Hartford, Connecticut. Last week, both S&P Global Ratings and Moody’s Investors Service downgraded Hartford’s credit rating deeper into junk status. According to a Reuters report, the downgrade puts Hartford near the bottom […]

Gold: More than Just a Hedge

Conventional wisdom holds that gold is a good store of value, and provides a hedge of protection against inflation and economic upheaval. But a close look at the data reveals gold offers a long-term growth trajectory comparable to other financial asset classes.

Gold Sales at Australia’s Perth Mint Doubled Last Month

Gold sales at Australia’s Perth Mint doubled in September. Meanwhile, sales of silver surged 78%. Sales of gold coins and minted bars jumped to 46,415 ounces in September, up from 23,130 ounces a month ago. Silver sales during the month came in at 697,849 ounces, compared with 392,091 ounces in August.