This morning I decided to visit one of my longtime favorite large coin and bullion dealers before heading out to California for the summer. This place has been one my go to shop for years, because they have consistently offered great prices on everything from American Eagles, Bars, Rounds, and 90% coin lots. I have always taken a portion of my income every month an invested it into my portfolio... read more
When news broke a month ago [2]that the US Mint had suspended selling one-tenth ounce gold coins, perhaps the most surprising news was that there were thousands of consumers willing to pay the exorbitant retail premium demanded by the US mint, with the res... read more
Perhaps worries about the Fed’s quantitative-easing exit, which have triggered sharp losses for Japan stocks andbroke a four-week winning streak for Wall Street, aren’t exactly being overplayed.
“We’re expecting too much of the Federal Reserve, and Bank of Japan, and... read more
Gold Today –Asia took the gold price from New York’s close of $1,387 up to $1,394 in London’s morning. London and New York were closed and the price in Asia hardly moved from that level. On Tuesday the gold price slipped just below $1,390 ahead of London’s opening but then fell further to Fix at $1.379 and in the euro at €1,067.42 in London while the euro was €1: $... read more
It has been an interesting week for gold. On Tuesday, open interest on Comex fell sharply by 6,961 contracts. The action was in the June contract, which fell 12,072, only 3,000 of which appear to have been rolled into the next active month (August). The bulk of the fall in the June number must have been from bears closing their shorts ahead of Ben Bernanke’s testimony to Congress on Wednesday... read more
Wall Street legend Warren Buffett has famously declared that gold is not an investment. He is correct, but he stopped halfway. He did not go on to say what gold really is, perhaps purposefully intending for people to draw their own conclusions.
In my view, there is only one conclusion possible, because there are only two alternatives when it comes to allocating assets in any portfolio, wheth... read more
Most people do not think that Europe engages in Quantitative Easing. They know that the United States engages in it, that Britain engages in it and now that Japan engages in it but they think that Europe has so far refused to be involved. They think this because this is what they have been told. Unfortunately this is inaccurate.
The European Quantitative Ea... read more
Belgian Central Bank Says 25 Tons Or 10% of Gold Reserves on Loan
The Belgian Central Bank said yesterday that about 25 tons of the European nation’s gold reserves have been lent to bullion banks according to Bloomberg.
Nearly 10% or about 25 metric tons of the National Bank of Belgium’s remaining 227.5 tons of gold reserves are currently lent to bullion banks, Direct... read more
Western central banks have got themselves horribly wrong-footed as a result of not adjusting their anti-gold policies to allow for the realities of Asian gold demand. Though their dealings are shrouded in secrecy, there is compelling evidence that much – if not most – of Western central bank gold has been quietly sold over the last three decades.
More recently all members of the Shanghai... read more
