Gold-backed ETFs recorded record net gold inflows, pushing holdings globally to record levels in 2020. On net, ETFs globally added 877 tons of gold last year worth about $47.9 billion. Gold holdings rose by over one-third, ending the year at a record 3,752 tons, according to data released by the World Gold Council. Gold ETFs […]
Put the federal government in charge of the supply of money, let it outlaw private competition and bestow a “legal tender” privilege on its own paper and coin, and its wise officials will know exactly how much money the marketplace needs.
If you believe that rubbish, I have a bridge over the river Kwai I would like to sell you.
In just the 106 years of the Federal Reserve, America’s money supply has bounced wildly up and down (mostly up), prompting such calamities as numerous recessions and one depression, unprecedented price and interest rate volatility, and a currency worth a fraction of its 1914 value.
Gold prices edged higher on Monday, recovering from a near seven-week low, as prospects of a massive US coronavirus relief aid outweighed a stronger dollar and lifted bullion’s appeal as an inflation hedge.
Spot gold advanced 0.6% to $1,838.30 per ounce by 11:30 a.m. EST, rebounding from an intraday low of $1,810.90 earlier. US gold futures were also 0.4% higher at $1,837.40 per ounce.
Meanwhile, European equities and US futures remain under pressure.
The covid-19 pandemic has raised uncertainty by compounding existing risks and creating new ones, but by the end of last year, investors were optimistic that the worst was over.
Looking ahead, investors will likely see the low interest rate environment as an opportunity to add risk assets in the hope that economic recovery is on the immediate horizon. That said, investors will likely also be navigating potential portfolio risks including ballooning budget deficits, inflationary pressures and market corrections amid already high equity valuations.
Gold outperformed major assets in 2020. We believe gold investment will remain well supported while gold consumption should benefit from the nascent economic recovery, especially in emerging markets.
Behind the Headlines of Record Gold Stocks in London Vaults by Ronan Manly for Bullion Star Last week, the London Bullion Market Association (LBMA) published its latest monthly update on gold holdings in the LBMA vaults in London, claiming that there…
Fed Will Drive Gold to New All-Time Highs in 2021 – Craig Hemke By Greg Hunter’s USAWatchdog.com About this time last year, financial writer, market analyst and precious metals expert Craig Hemke predicted the Fed would encourage inflation and gold…
Gold had a monumental 2020 as bullion soared to multiple record highs throughout the year amid the economic uncertainties brought by the covid-19 pandemic, which helped to cap off its best annual performance in a decade.
During the past calendar year, gold prices traded at an average of $1,769.59/oz, well exceeding what most analysts were forecasting in mid-January.
According to the London Bullion Market Association’s (LBMA) annual precious metals forecast competition, analysts were forecasting the gold price to be $1,558.8/oz on average, an increase of 12% from the average price in 2019, but still short of the actual average price by over $200/oz.
A multi-year drive to reduce exposure to U.S. assets has pushed the share of gold in Russia’s $583 billion international reserves above dollars for the first time on record. Gold made up 23% of the central bank’s stockpile as of the end of June 2020…
The precious metals space suffered a precarious dip late last week – slightly disappointing, given that gold has been recovering nicely since December. If I were to hazard a guess, the main culprit was the rebound in Treasury yields (TLT).