Saturday, August 4 2018
By GCRU Gold News on Saturday, August 4 2018, 08:46
Last month in Venezuela’s capital city of Caracas, a cup of coffee would have set you back 2 million bolivars. That’s up from only 2,300 bolivars 12 months ago, meaning the price of a cup of joe has jumped nearly 87,000 percent, according to Bloomberg’s Café Con Leche Index. And you thought Starbucks was expensive.
Thursday, August 2 2018
By GCRU Gold News on Thursday, August 2 2018, 06:25
ETF inflows have steadied at low levels in recent quarters, making for weak y-o-y comparisons. Q2 jewellery demand dipped 2% to 510.3t, largely due to a weaker Indian market. The pace of central bank buying also slowed in Q2 (-7%). Bar and coin demand was virtually unchanged as growth in a few key markets cancelled out weakness elsewhere. Technology demand provided some relief, adding 2% to reach a three-year high. Gold supply notched up a second consecutive quarter of growth, (up 3%) reaching 1,120.2t.
Wednesday, August 1 2018
By GCRU Gold News on Wednesday, August 1 2018, 00:27
Probably the two best known gold mining stock indexes in the world’s financial markets are the HUI and the XAU. HUI is the ticker symbol for the NYSE Arca Gold BUGS Index. XAU is the ticker symbol for the Philadelphia Gold and Silver Index. Both of these monikers make an appearance on many gold related websites and many general financial market websites as well, so its worth knowing briefly what these indexes are and what they represent.
Sunday, July 22 2018
By GCRU Gold News on Sunday, July 22 2018, 23:51
Russia has left the top-30 list of top lenders to the United States by radically slashing US Treasury bills ownership. RT-polled analysts have shared their opinion on the move.
“Both political and economic reasons could be found here. The Central Bank may have thought that Russia-owned Treasuries could be frozen because of geopolitical tensions. The regulator announced in spring that it plans to diversify its reserves,” said Zhanna Kulakova, financial consultant at TeleTrade.
The analyst thinks the Russian central bank could re-invest the money from the sale into Chinese bonds and gold. “Gold is a tangible asset that can not be completely depreciated under any circumstances. In periods of global financial or political crises, gold will be much more useful than securities or cash,”
Thursday, July 19 2018
By GCRU Gold News on Thursday, July 19 2018, 01:37
The good news for gold bulls is that the weaker hands in the ETFs have sold out, the speculative long overhang on CME has all but disappeared and we have absorbed about 700 tonnes of leveraged selling (and we are now at levels not seen since early 2016), while the demand for physical reported by the Mints around the world are at generational lows. Indian demand is patchy and Chinese demand only adequate. I might add that the term "buy gold" on Google Trends has just slipped to a decade low. Further, gold's Relative Strength Indicator on the charts has slipped to below 24 confirming its oversold status. Not exactly blood in the streets yet - but for businesses in our space, it is certainly tough.
Tuesday, July 3 2018
By GCRU Gold News on Tuesday, July 3 2018, 01:51
“Significant increases in inflation will ultimately increase the price of gold. Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection. I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counter-party signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counter-party. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.”
Friday, June 15 2018
By GCRU Gold News on Friday, June 15 2018, 00:13
Obviously, a healthy number of market participants share our view that the Fed is interested in stimulating the money supply and inflation, or in the very least, interested in letting the markets know it will stay out of the way should both begin to increase. That message was received loud and clear, though it might take some time for the impact to be completely understood and priced into various markets.
Monday, June 11 2018
By GCRU Gold News on Monday, June 11 2018, 00:46
This week, the Goldnomics podcast ranks the safest ways to own gold to the least safe. The safest is, of course, owning physical gold bars. The next safest is to own allocated and segregated gold, which is owning physical gold kept in a separate physical account. The next level of safety is unallocated gold, then there are physically backed-ETFs and non-physically backed ETFs.
Further out the safety spectrum is owning shares of gold miners, which trade like equities (because they are). However, the vast majority of investors own gold via an ETF.
By GCRU Gold News on Monday, June 11 2018, 00:37
Gold investing is often seen as a barometer of fear and financial stress.
But while the bullion price has responded to 2018's stock market drops and geopolitical tensions so far, appetite for gold is in fact weakening among private investors overall.
Saturday, June 9 2018
By GCRU Gold News on Saturday, June 9 2018, 03:17
If you live in Texas and have any extra gold bars, coins and/or jewelry lying around that need safekeeping, you’re in luck. The Texas Bullion Depository, the first of its kind in the U.S., officially opened to the public in Austin this week, putting a cap on three years of planning and construction. The private firm managing the facility, Lone Star Tangible Assets, calls it the “world’s most advanced depository.”
Thursday, June 7 2018
By GCRU Gold News on Thursday, June 7 2018, 07:56
Texans who have long stored gold and precious metals elsewhere can bring the bling back to their home state. The country's first state-administered precious metals depository, the Texas Bullion Depository, officially opened Wednesday in Austin.
Like other facilities that store precious metals, the Texas Bullion Depository insures them and has complex security measures to guard people's assets. Depositors can buy metals from a dealer and have them shipped directly to the depository, or send in what they already own.
By GCRU Gold News on Thursday, June 7 2018, 00:49
Canada’s Bank of Nova Scotia (Scotiabank) is limiting lending by its ScotiaMocatta metals unit as it embarks on a radical restructuring likely to halve the size of the business, sources familiar with the matter said.
Mocatta is the largest financier of the global precious metals supply chain, accounting for some 15-20 percent of lending to clients ranging from refiners and jewelers to carmakers and petrochemicals producers, industry sources say.
Those sources place the value of its leases, credit lines and consignment lending of precious metal at $8 billion.
Saturday, June 2 2018
By GCRU Gold News on Saturday, June 2 2018, 01:28
U.S. hedge fund Paulson & Co, led by long-time gold bull John Paulson, is set to name a group of investors that will work together to try to drive changes and better returns from gold mining companies after years of dismal industry performance, according to people familiar with the situation.
The Shareholders Gold Council (SGC), expected to be launched as early as June, will have more than a dozen investors, including Delbrook Capital, Livermore Partners and Tocqueville Asset Management, one of the people said.
Sunday, May 27 2018
By GCRU Gold News on Sunday, May 27 2018, 00:43
A major blind spot in U.S. strategic economic doctrine is the increasing use of physical gold by China, Russia, Iran, Turkey and others both to avoid the impact of U.S. sanctions and create an offensive counterweight to U.S. dominance of dollar payment systems.
This is the Axis of Gold.
Friday, May 25 2018
By GCRU Gold News on Friday, May 25 2018, 11:33
Gossip Topic #5: The Gold bullion that will be backing the Dignity (DIG) token. There was a big stir in the Telegram groups about the wording of paying off “bullion debt” towards the gold in a communication sent on May 8th.
Thursday, May 24 2018
By GCRU Gold News on Thursday, May 24 2018, 23:54
The London Metal Exchange is planning to introduce yuan-denominated metal products, according its chief executive, a sign the currency’s status in international finance is on the rise.
Saturday, May 19 2018
By GCRU Gold News on Saturday, May 19 2018, 01:22
I want to mention that blockchain is also bringing change to gold investment. Consider Royal Mint Gold (RMG), which aims to provide the “performance of the London Gold Market with the transparency of an exchange-traded security.” There’s also the Perth Mint’s InfiniGold, which issues digital certificates guaranteeing ownership of gold and silver in the mint’s vault. A number of other platforms exist to help facilitate gold trading.
Should even one of these become hugely popular, it “could be as big a change to the gold markets as the development of ETFs, but with the added advantage of appealing to younger generations,” according to the World Gold Council’s (WGC) chief strategist, John Reade.
Friday, May 18 2018
By GCRU Gold News on Friday, May 18 2018, 02:37
Gold 2048 brings together industry-leading experts from across the globe to analyse how the gold market is set to evolve in the next 30 years.
By GCRU Gold News on Friday, May 18 2018, 01:41
With all that value coming from such a small package, sometimes it is hard to put gold’s immense worth into context.
Friday, May 11 2018
By GCRU Gold News on Friday, May 11 2018, 01:34
Iran’s gold demand will probably be “strong” for the next few months and then gradually decline as U.S. sanctions start to take effect, according to the researcher who covers the country for Metals Focus Ltd.
After a previous set of sanctions was imposed on Iran in 2012, it took two years for the country’s gold demand to start falling, according to data from the World Gold Council. It sank to only 45.1 tons by 2016, the lowest in at least six years and 65 percent lower than in 2013, according to gold council data. It rose to 64.5 tons last year.