Thursday, January 31 2019

Switzerland Gold Imports & Exports

Flows for December plus annual charts

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Wednesday, January 30 2019

Refusal to hand over Venezuelan gold means end of Britain as a financial center

“You can be sure that every government in the world is going to rethink putting any money in London, as they used to do, when they are watching this political manipulation with the money that they entrusted to the British. It is very dangerous for the world but for Britain particularly,”

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Monday, January 28 2019

Bitcoin Investors Are Moving to Gold

“Interestingly, we just polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going the other way.”

“Not only have we lost all liquidity on the underlying commodity but truly outside of the existential blockchain argument, it's been very difficult to argue store of value which is really what we started hearing about. Gold is a store of value and there's no disputing that.”

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Saturday, January 26 2019

Australia's ANZ bank closes Singapore gold vault

Australia and New Zealand Banking Group Ltd (ANZ), whose gold bullion business is one of Asia’s largest, said on Thursday it was closing its precious metals vault in Singapore.

The bank opened the vault - which could hold 50 tonnes of gold worth around $2 billion at current prices - in 2013. That year, ANZ said it distributed close to 15 percent of the world’s primary gold production.

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Friday, January 25 2019

Silk Road: China, India, Russia & Turkey Gold Consumption

Silk Road demand for November.

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India Gold Imports

Indian imports for November

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Thursday, January 24 2019

Why This Billionaire Just Bought Gold for the First Time in His Life

Billionaire Sam Zell just announced that he bought gold for the very first time in his life because, as he puts it, “it is a good hedge.” In a recent Bloomberg interview, the Equity International founder and creator of the real estate investment trust (REIT) admitted to seeing an opportunity in gold’s increasing supply shortage.

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Wednesday, January 23 2019

Arizona Legislator Proposes Securing State Reserves with Gold and Silver

An Arizona legislator has put forward a bill to de-risk the state’s financial holdings with a modest allocation to physical gold and silver in the state’s reserve fund.

Introduced by Representative Mark Finchem (R-Tucson), the Arizona Sound Money Stabilization Act (HB 2500) requires that at least 10% of Arizona’s Budget Stabilization Fund be held in the monetary metals in a secure depository.

Arizona’s Budget Stabilization Fund has almost $500 million in assets but is currently invested in debt instruments and the stock market. The state owns no gold or silver.

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Blockchain to shake up mining and metals sector

The uptake of blockchain in trade finance continues with ING joining a consortium to digitise the mining and metals sector. The group is developing a blockchain-based platform with mining technology company MineHub that will make the entire supply chain more secure, transparent and efficient.

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Tuesday, January 22 2019

The Power of Gold Diversification

“The whole point about gold,” Tapsell concludes, “and the quality that makes it so special and almost mystical in its appeal, is that it is universal, eternal and almost indestructible. The Minister will agree that it is also beautiful. The most enduring brand slogan of all time is, ‘As good as gold.’ The scientists can clone sheep, and may soon be able to clone humans, but they are still a long way from being able to clone gold, although they have been trying to do so for 10,000 years. The Chancellor may think that he has discovered a new Labour version of the alchemist’s stone, but his dollars, yen and euros will not always glitter in a storm and they will never be mistaken for gold.”

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Monday, January 21 2019

Venezuela gold holdings in Bank of England soar on Deutsche deal

Venezuela’s gold holdings in the Bank of England have jumped after it closed out a gold swap deal with Deutsche Bank, according to two sources, as Britain remains reluctant to release gold held for the troubled OPEC nation.

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Sunday, January 20 2019

Our Currency and Our Problem

With its debt exploding and its international position weakening, the United States will choose to weaken the dollar as it has done before

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Saturday, January 19 2019

Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Russian Gold Reserves

Russia adds 300,000oz in December

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Russia becomes world's fifth biggest gold holder after sanctions

Russia has overtaken China to become the world’s fifth largest official sector holder of gold as Western sanctions drove buying by its central bank to record highs in 2018, its data showed on Friday.

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Thursday, January 17 2019

Gold Seasonal Movements

Seasonal movements vs 2018 price action

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Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply

“The amount of capital being put into new gold mines is a most nonexistent,” Zell said. “All of the money is being used to buy up rivals.”

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Tuesday, January 15 2019

Tocqueville Gold Strategy Fourth Quarter 2018 Investor Letter

Gold exposure, in our view, is the antidote to unknown adverse repercussions stemming from a sovereign-debt crisis. Gold has always protected capital from currency debasement. We believe it will prove to be a winning strategy in a bear market. Depressed gold and silver mining stocks have historically generated massive upside against a backdrop of systemic risk concerns. The tide of easy credit and risk-taking appears to be receding. The US is beginning to sport a debt-to-GDP ratio worthy of any banana republic. Therefore, we believe that exposure to gold is both timely and potentially rewarding.

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Chinese gold demand falters but still up y-o-y - just

We still consider Shanghai Gold Exchange (SGE) gold withdrawal data the best comparable measure of the nation’s gold demand year on year and for 2018 the annual total was a little higher than in 2017 or 2016, but still well short of the record figure reported in 2015.

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Monday, January 14 2019

Newmont to buy Goldcorp for $10 billion to create world's largest gold producer

Newmont Mining Corp said on Monday that it would buy smaller rival Goldcorp Inc in a deal valued at $10 billion, creating the world’s biggest gold producer by output.

The deal is the second high-profile merger in the mining industry since Barrick Gold Corp agreed to buy Randgold Resources Ltd in September last year to cut costs.

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