Gold jumped to a four-week high after a key report showed the U.S. economy added fewer jobs than forecast, diminishing the possibility that the Federal Reserve will taper stimulus soon. Data on Friday showed the U.S. added 235,000 jobs in August, the smallest amount in seven months and well below economists’ forecasts. The dollar fell after the report, boosting gold, though the metal pare... read more

Mega investors have been talking up the merits of gold ownership lately. For example, the billionaire hedge fund manager who executed the “greatest trade ever” in 2007 is now pounding the table about the opportunity in hard money. John Paulson rose to fame during the subprime mortgage crisis of 2007-2008 when his fund bet big that housing-related financial assets would crash. Paulson... read more

Gold prices rallied to a record last year as covid pandemic spurred a flight to safe haven assets Veteran investor and founder of Mobius Capital Partners, Mark Mobius said that investors should look to have 10% of a portfolio in gold as he expects currencies to be devalued following the unprecedented stimulus rolled out to fight the covid pandemic. At this stage, “10% should be put i... read more

The prospect of higher taxes for wealthy Americans edged closer on Tuesday as House Democrats passed a $3.5 trillion budget plan. That framework lays the groundwork for Democrats to write formal legislation that can pass without one Republican vote. Democrats have called for higher taxes on the wealthy and corporations and stronger IRS enforcement to help fund their agenda. The House vote... read more

: Palantir, the data analytics software manufacturer, has recently added $50 million of gold bars to their treasury, as disclosed in the company’s latest earnings statement. Danielle DiMartino Booth, CEO of Quill Intelligence, said that this purchase could be mirrored by other large companies. “These moves…are strong testaments to how far down the rabbit hole central banking, thi... read more

(Kitco News) The COVID-19 pandemic is forcing many companies to rethink their investment strategies. And as Palantir's cash pile grows, it has opted to buy gold. Palantir Technologies Inc purchased $50.7 million worth of 100-ounce gold bars in August, according to the company's latest earnings statement. "During August 2021, the Company purchased $50.7 million in 100-ounce gold bars,"... read more

Gold prices edged lower on Monday as the dollar held steady, although receding worries about early tapering by the Federal Reserve and concerns over the Delta coronavirus variant kept bullion near a one-week peak. Fundamentals Spot gold was down 0.2% at $1,775.06 per ounce by 0919 GMT, after hitting its highest since Aug. 6 at $1,782.40 earlier in the session. U.S. gold futures eased 0.1% t... read more

Fifty years ago this Sunday, the gold market was completely transformed in only a matter of minutes after then-president Richard Nixon decoupled the U.S. dollar from the precious metal. Although gold is no longer an official global currency, analysts note that with everything that has happened in the last 50-years the precious metal continues to play an important role in global financial mar... read more

Aug 12 (Reuters) - The Federal Reserve's new approach to monetary policy, meant to provide a clear path for the central bank to reach its inflation target, has led for now to a conflicting array of interpretations as officials turn perhaps sooner than anticipated to a debate about when to raise interest rates. That decision seemed far away last December when the Fed laid out what seemed... read more

Gold is a good investment at a time when the world is concerned about inflation, Egyptian billionaire Naguib Sawiris told CNBC. The precious metal is often touted as a hedge against rising prices and a safe-haven asset that should make up around 5% to 10% of an investor’s portfolio. But long-time gold investor Sawiris recommends allocating much more to gold. “I say 20% to 30%. I us... read more