Jim Grant has long been skeptical of the mechanization of the Federal Reserve. He was warning about the distortions created in the markets and broader economy caused by the central bank’s monetary policy long before the monetary Hail Mary it threw up in response to the coronavirus pandemic. Last month, Grant wrote an op-ed for […]
Gold just had its best quarter since 2016 and finished at its highest level in over eight years. But Q2 2020 wasn’t an anomaly. Gold has charted gains for seven consecutive quarters. That represents the longest quarterly run of gains for the yellow metal since the 2008 financial crisis. Looking at the price chart, it’s […]
Earlier this week, we reported Goldman Sachs now forecasts record gold prices within the next 12 months. Well, Goldman isn’t the only mainstream player turning more bullish on gold. In a note published Tuesday, Bank of America said gold can hit record highs before the end of 2020 if its rally continues to breach key […]
Global gold demand was up 1% in the first quarter of the year as extraordinarily strong investment demand offset weakness in consumer markets even as supply dropped. Overall, gold demand came in at 1,083 tons in Q1, according to data in the World Gold Council Gold Demand Trends Q1 2020 Report. In value terms, global
The mainstream just went super-bullish on gold. Bank of America raised its 18-month price target to $3,000 per ounce in a report titled, “The Fed Can’t Print Gold.” BoA was already pretty bullish on the yellow metal, forecasting a record $2,000 per ounce within the next year-and-a-half. According to a report released by the bank
Why is the mainstream financial media mostly ignoring gold? Peter Schiff talked about it in a recent podcast. He said the investment pundits are missing the boat on a “no-brainer” investment. The stock market has continued its pattern of wild swings this week. The Dow Jones was up 456 points on Wednesday after a better
ETF gold holdings set yet another record high in February, according to the latest data from the World Gold Council. Global gold-backed added another 84.5 tons of gold last month, boosting holdings to an all-time high of 3,033 tons. Coupled with an increase in the price of gold of nearly 2%, assets under management grew
After the worst week since 2008, the stock market rallied on Monday on the hope of central bank stimulus. In his March 2 podcast, Peter Schiff said he doesn’t think the Fed’s easy money can keep the air in the stock market bubble. But the stimulus overdose will likely propel gold to new highs.
Gold broke out this week. The yellow metal pushed through the $1,600 level and continued to climb. Conventional wisdom tells us this is all about safe-haven buying due to fear that the coronavirus will stunt global economic growth. That is certainly a factor. But could there be more to it than that?
ETF gold holding reached another record high in January, according to the latest data from the World Gold Council. Gold-backed funds added 61.7 tons of gold last month, boosting holdings to an all-time high of 2,947 tons. This continues a trend we saw in 2019 when gold holdings in ETFs grew 19% and eclipsed all-time