Gold is serving as a lifeline for beleaguered Indians in the midst of severe credit crunch. The government response to the coronavirus pandemic has ravaged the Indian economy. As a result, many banks are reluctant to extend credit due to fear of defaults. In this tight lending environment, many Indians are using their stashes of […]
In what seems to amount to implicit debt monetization, The Fed’s commitment to buying $80 billion a month of Treasuries appears to have awakened some further anxiety over the future of fiat.
Gold is surging, the dollar is down…
…bonds are undecided and of course Nasdaq is flying…
At what point do these two series converge?
Goldman Sachs expects gold to reach $1,800 per ounce on a 12-month basis and the tail risk of above-target inflation as a potential driver for prices to climb beyond $2,000.
Editors Note: Astute people of the left and right, liberals and conservatives and of no political persuasion at all, have recognised gold’s importance as a way to protect people from political and economic stupidity and corruption. Alas, there is plenty of that today and people need to protect themselves, their families and their companies by owning physical gold in the safest ways possible.RELATED COMMENTARYGold Will Reach $3,000/oz: “Fed Can’t Print Gold” and Is “Ultimate Store Of Value” – Bank of America “Gold Is A Great Hedge Against Politicians” – Goldman SachsCentral Banks ‘Vote For Gold’ Due To Government Bonds And Currency Concerns NEWS and COMMENTARY
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Gold price continued to climb on Tuesday, surpassing $1,700 an ounce once again, as investors grow hopeful of further monetary policy action from the US Federal Reserve this week.
Spot gold climbed 1.0% to $1,716.73 per ounce by 11:00 a.m. EST, while US gold futures gained 1.2% to $1,719.20 per ounce in New York.
Meanwhile, momentum stalled in risk assets on Tuesday with both European stocks and US futures dropping, while the US dollar strengthened for the first time in nine sessions ahead of the Fed’s two-day gathering.
The pace has slowed somewhat this year, but central banks are still buying gold, and the World Gold Council expects central bank demand to continue over the next 12 months. In April, central banks globally added another net 31.6 tons of gold to their reserves, despite Russia following through on its commitment to suspend its […]