Gold premiums in India, the world’s biggest buyer, more than doubled on speculation that government restrictions on bullion imports by banks to rein in a record current-account deficit would reduce supplies.
The fees jewelers pay dealers for bars jumped as high as $40 an ounce today from $17 to $18 yesterday, Bachhraj Bamalwa, a director at... read more
A lot of U.S. dollars are tucked away somewhere in Argentina, most likely in stacks of $100 bills. Seven years ago, the U.S. Treasury, working with the Federal Reserve and the Secret Service, estimated that in the early 1990s Argentines held $20 billion in cash, a number that by 2006 had grown to “perhaps $50 billion or more.” That year there was a total of about $768 billion worth of dolla... read more
Today's article is a bit on the long side. But I hope you'll read it all the way through because it encompasses all of my thoughts on gold -- one of the most important asset classes, and something I've owned in my personal account since 2006. First off, I'm not going to predict a speedy recovery for gold prices. That said, I continue to believe that gold offers investors safety in an uncertain... read more
Often there is sound justification for an investment bubble in the beginning that can be identified in hindsight. This doesn't really do us much good. In the case of gold, I believe it is more useful to construct the reasons early, often, and ahead of the herd.
On Monday, Zhu Ning, a professor at the Shanghai Advanced Institute of Finance, offered a sympathetic and detailed defense of the au... read more
Back on April 25, in the aftermath of the latest epic precious metals takedown, we reported [3]that something odd had happened: overnight, total Eligible gold held in the vaults of JPM dropped by 65%, or 260.8k ounces in one day, to a record low of only 141.6K ounces. Contrast that... read more
On Tuesday 14th May, workers at Lonmin PLC, the world’s No. 3 platinum producer in South Africa began a wildcat strike. This caused immediate disruption of all mine production and led to concerns that South Africa was yet again to endure violence and disruption in its mining industry.
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Today Egon von Greyerz told King World News there are extremely clear signs that the move to global hyperinflation is now accelerating. Greyerz had some incredible economic numbers that illustrated the coming hyperinflation. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this tremendous interview.
Greyerz: “Eric, I’m looking at... read more
Global financial markets will be taking their cues from U.S. Federal Reserve and European central bank policy meetings to be held by the Fed on Tuesday and Wednesday and by the European Central Bank (the ECB) on Thursday.
The consensus among economists who pay attention to these things suggests there won’t be any significant change in Fed policy . . . but, in contrast, there is a strong be... read more
In recent times, gold has become a key topic in the world’s media. Interest in this yellow metal is warming up reports about the plans of Germany and other countries to repatriate their gold reserves from the USA and Great Britain, to where they were moved at various times.
Heated debates have begun regarding how responsibly central banks and finance ministries are storing the... read more
India's gold rush spooked the economy again as frantic purchases in April widened the trade deficit to a disturbing $17.8 billion, but people queued up to buy even more coins and ornaments on an auspicious gold-buying festival on Monday, setting the stage for an even bigger gap between imports and exports. The sharp fall in gold prices last month unleashed pent-up demand in India, lifting the i... read more
