Precious Metals News

How will the upcoming presidential election impact the gold market? Biden has dropped out of the presidential race. It appears Kamala Harris has the inside track to the Democratic Party nomination, but that isn’t a foregone conclusion. Polling currently shows Trump and the Republicans holding an edge, but we are a long way from November…

On July 16, a jury convicted Senator Bob Menendez (D-N.J.) on 16 counts, including wire fraud, bribery, and extortion. At least he accepted bribes that would retain their value. Let me be clear: you really shouldn’t take bribes. But if you do (don’t), get it in gold.

The federal government ran another big deficit in June, as the national debt inches closer to $35 trillion. $35 trillion USD. Trillion with a ‘T.’ That’s an unfathomable number. It’s meaningless to most people. We simply can’t comprehend a number that big.

Gold-backed exchange-traded funds (ETFs) reported net inflows of gold for the second straight month in June. With European funds leading the way, net gold holdings by ETFs globally increased by 17.5 tons last month. May was the first month of positive flows into ETFs in 12 months.

I’ve written a lot about the fact that silver appears to be underpriced given both technical factors and the supply and demand dynamics. Platinum may be even more undervalued, hovering around $1,000 an ounce. To put that into perspective, platinum hit an all-time high of $2,213 an ounce in March 2008…

How do you safely and securely move billions of dollars worth of gold? Very quietly. De Nederlandsche Bank (the Dutch central bank) did just that, moving over 220 tons of gold coins and bars over 45 miles of public highway. Officials spent four weeks shuttling gold and cash from a vault in Haarlem to the new Cash Centre in Zeist.

Investors are also gobbling up gold in Thailand for many of the same reasons. A Thai gold dealer said he has never seen such strong demand for gold during a period of rising prices. “At this price, people should be selling but everybody is buying. People are actually fighting to buy. The local consumers are very smart.”

People like Paul Krugman keep saying Americans don’t realize how good they have it. Janet Yellen recently said she doesn’t experience sticker shock when she goes to the grocery. The White House spokesperson tells us how great the economy is. Inflation is coming down! Meanwhile, the rest of us are struggling to pay the bills…

As war wages across their eastern border, Poles seek safety. And they’re finding it in gold. Russian troops stormed across the Ukrainian border on Feb. 24, 2022. It was Fat Tuesday; a day Poles typically line up for jelly-filled donuts called pączki. Instead, they lined up to buy gold.

Even Bank of America is now talking about $3,000 gold. According to a report released by the big bank, gold prices could potentially hit $3,000 an ounce in the near term as the Federal Reserve begins cutting interest rates and rising debt drives economic uncertainty.

You know gold is doing well when the mainstream sits up and takes notice. The mainstream financial pundits specifically, and the media in general, are typically apathetic about gold at best. More often than not, they’re downright antagonistic. The problem is that gold isn’t good for the regime.

A few weeks ago, gold sold off on news that the People’s Bank of China didn’t add any gold to its reserves in May. At the time, I called it a “kneejerk reaction,” and said the news wasn’t “a particularly good reason to sell gold.” Before the news, China had bought gold for 18 straight months. However…

Since mid-2021, we lived through the worst price inflation since the 1970s. CPI peaked in June 2022 at 9.1 percent. During this inflationary period, a lot of people sold gold as evidenced by the rangebound price through most of 2023. Was selling a good move?