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We’ve heard a lot about Russian election hacking over the last year. But Jim Rickards said there is only one Russia story that really matters – that is the country’s efforts to break away from the hegemony of the US dollar and the dollar payment system that currently dominates global trade. Over 60% of global reserves […]
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 […]
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. […]
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 […]
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 […]
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
“But however mysterious is nature, however ignorant the doctor, however imperfect the present state of physical science, the patronage and the success of quacks and quackeries are infinitely more wonderful than those of honest and laborious men of science and their careful experiments.” – P.T. Barnum Yes. There are plenty of quacks in the world. And you’ll find more […]
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.
Recently, Jamie Diamond of Citibank made headlines by labeling Bitcoin a fraud. Whether those comments played any part in Bitcoin’s recent sell off is hard to say, but the true believers reacted with predictable outrage given that the comments came from the ultimate Wall Street insider whose financial supremacy is supposedly threatened by crypto currencies […]
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.
