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Central banks globally added another net 35 tons of gold to reserves in May, according to data compiled by the World Gold Council. This follows on the heels of a net 19.4-ton increase in gold holdings in April and an 84-ton surge in gold reserve through Q1.
China appears to be chipping away at dollar dominance. While there is no indication that the dollar is in imminent danger of toppling from its perch as the global reserve currency, more central banks are warming up to the yuan.
Demand for silver for brazing and soldering applications is expected to expand by 23% by 2030. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
On July 1, the Federal Reserve Bank of Atlanta lowered its Q2 GDP projection to -2.1%, officially forecasting a recession. So, much for Jerome Powell’s “soft landing.”
The Reserve Bank of Zimbabwe plans to issue gold coins as a way for investors in the country to store value as inflation runs rampant in the economy. The United States isn’t the only country battling rapidly rising prices. The inflation rate in Zimbabwe spiked from 132% in May to 191.6% in June, and the […]
Goldman Sachs sees a big upside in gold raising its target price to $2,500 an ounce by the end of the year. The investment bank cites recession worries and persistent inflation as reasons to be bullish on gold.
Gold demand in India was strong in May with retail sales rebounding and imports up both month-on-month and year-on-year.
The G7 plans to add gold to its list of sanctions against Russia. This could have an impact on the global gold market. Just how much remains to be seen.
As interest rates rise, the air continues to hiss out of the housing bubble. Existing home sales tumbled to a two-year low in May. Sales fell to a seasonally adjusted 5.41 million units, according to the latest data from the National Association of Realtors. It was a 3.4% drop, bringing existing home sales to the […]
A few years ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, he said he had no interest in it because gold has no uses as a metal. This is a pretty absurd statement. Gold has multiple uses. And it would probably have even more if it wasn’t so rare […]
