Peter's Blog

Demand for Gold Surges in Third Quarter; Chinese On Pace for Record

Investors and central banks around the world are buying gold. Overall worldwide demand for the yellow metal surged during the third quarter. According to a Reuters report, demand for gold coins and gold bars, along with buying by central banks, drove a 7% Q3 increase. Demand for gold coins and bars jumped by 26% year-on-year […]

Chinese Yuan on Track to Become IMF Basket Currency

It appears likely the yuan will join the International Monetary Fund benchmark currency basket this year, according to sources close to the process. Reuters reports IMF staff plan to give the all-clear for yuan inclusion, laying the groundwork for a favorable decision by policymakers. Three people briefed on IMF discussions said a draft report from […]

Russia Continues Buying Gold to Minimize Exposure to Dollar

Russia and other countries formerly part of the Soviet Union continue to increase gold reserves at a steady pace. Russia added another 34.2 tons of the precious metal in September. This follows on the heels of a 1 million ounce increase in Russian gold reserves in August, and continues a steady buying spree by the […]

China Calls for New Global Reserve Currency to Replace Dollar

This article was removed by the admin, as it was based upon an incorrect source story. SchiffGold takes editorial quality very seriously and apologizes for any confusion this story may have caused. Please explore our free special reports:

“Good News” in Housing Starts Has a Dark Side

The mainstream media trumpeted the latest data on housing starts as good news for the economy, but there is a dark side they aren’t talking much about. Reuters reports housing starts rose more than expected in September, driven by high demand for rental units. Groundbreaking increased 6.5% to a seasonally adjusted annual pace of 1.21 […]

Chinese Bank to Become Part of Silver Price-Setting Mechanism

A Chinese bank will soon join the London Bullion Market Associations (LBMA) silver price-setting process. According to a Reuters report, China Construction Bank signed a memorandum of understanding with CME Group. It will join HSBC, JPMorgan Chase, Mitsui & Co Precious Metals, Bank of Nova Scotia – ScotiaMocatta, Toronto Dominion Bank, and UBS in taking […]

China Increasing Gold Holdings at Steady Pace

The Chinese central bank continues to increase its gold holdings at a steady pace. Figures released by the People’s Bank of China indicate its gold stash went up another 1% in September, according to a Reuters report: Gold reserves rose by 480,000 fine troy ounces, or 14.9 tons, to 54.93 million ounces, or 1,708.5 tons […]

Wal-Mart’s Problems Point to Deeper Issues in US Economy

Wal-Mart’s problems may well reflect deeper issues in the US economy. The giant retailer announced Wednesday that profits could drop as much a 12% in the next year. It’s stock plummeted 10% on the news. Company officials also warned they now expect sales growth for the current fiscal year to be flat. In February, the […]

Billionaire Paul Singer Says Gold Under-Owned, As Precious Metals Rally

The price of gold is rallying on growing uncertainly about a Federal Reserve interest rate hike and fears companies may disappoint already low expectations with third quarter earnings reports. No wonder billionaire Paul Singer said every investor should buy gold. According to a Bloomberg report, Singer criticized monetary policy makers for a “staggered economic recovery” […]

Increasing Demand for Gold for Industrial Applications

Investors are well-aware of the numerous industrial applications for silver, and it often factors into analysis of the white metal’s demand. But gold also has industrial applications. And while investment and jewelry primarily drive the demand for gold, its use in industrial applications continues to expand, representing a growing market for the precious metal. Gold […]