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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.
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.
A few Fridays back, I shared some of the innovative ways people have come up with to smuggle gold. Like I said in that article, gold smuggling is a very lucrative business. People want gold, and they’ll go to great lengths to have it. But smuggling isn’t as easy as you might think, and people have put […]
Earlier this month, we reported a move by China that could foreshadow the end of the US dollar as the world reserve currency. The Chinese announced the launch of a gold-backed, yuan-denominated oil futures contract. The move potentially creates a way for oil exporters to circumvent US dollar denominated benchmarks by trading in yuan. The contracts […]
During an interview at the Denver Gold Forum, the chairman of the World Gold Council said he thinks the world may have reached peak gold. Peak gold means the amount of gold mined out of the earth will begin to shrink every year, rather than increase, as it has done pretty consistently since the 1970s. […]
Last December, Dennis Gartman called gold the top commodity to own in 2017. He followed up in March, swearing he wasn’t a “gold bug,” but then advising “buy gold.” Now the man known as the “commodities king” says keep buying gold. In an interview on CNBC’s Futures Now, Gartman declared the bull run isn’t over […]
The founder of the world’s biggest hedge fund says every investor should own some gold. Business Insider CEO Henry Blodget recently interviewed Ray Dalio, the founder of Bridgewater Associates. You recommend that most portfolios should contain some gold.” Dalio’s didn’t even hesitate. Yeah. Of course.”
Apple recently announced its new iPhone 10 to much hoopla. It will feature a retina display, increased storage and RAM, and enhanced facial recognition (which is either real cool or incredibly creepy, depending on your point of view.) Of course, this will all come with a pretty hefty price tag of around $1,000. A lot […]
Even some of the biggest supporters of Bitcoin and other cryptocurrencies recognize the stability of gold. Last week was a bad week for Bitcoin. It’s price dropped significantly in the wake of a Chinese government crackdown on cryptocurrency exchanges in the country. Bitcoin’s price has recovered a bit this week, but a recent article published by […]
Russia and China seem to be betting their monetary futures on gold. Their long-term maneuverings could seriously undermine the dominance of the US dollar and shift the world’s economic center of power from West to East. Russia and China buy more gold than any other countries in the world, with Russia leading the way. Over the […]
