Today’s top gold news and opinion

3/13/2024

Gold’s mystery rally baffles analysts (FT)
Hopes of US rate cuts alone are unlikely to have driven latest leg higher, say strategists.

2024 is the year of the rate cut pivot — here’s when the world’s central banks will budge (CNBC)
As inflation loosens its grip in most economies, investors are closely monitoring interest rate decisions, with markets expecting a slew of rate cuts this year.

A guide to PGMs (Johnson Matthey)
Because the PGMs are highly recyclable and retain the same properties once recycled, the ‘urban mine’ of metal currently in use will continue to be a valuable source of these metals for many decades…

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Today’s top gold news and opinion

3/12/2024

Gold’s rally could extend beyond the recent record highs (UBS)
Powell’s remarks supported our base case that the Fed will ease by 75 basis points over the course of 2024, most likely starting in June..

The Commodities Feed: Gold nears $2,200/oz (ING)
We expect gold prices to trade higher this year as safe-haven demand continues to be supportive amid geopolitical uncertainty with ongoing wars and the upcoming US election.

PRECIOUS APPRAISAL (Heraeus)
It’s safe-haven vs. speculation as gold hits new highs…

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Today’s top gold news and opinion

3/11/2024

Gold price: the latest predictions and our fund picks (Fidelity UK)
Markets currently attach a 56% probability to a cut in US rates after the US Federal Reserve’s policy setting meeting in June.

Bitcoin Is Unlikely to Match Gold’s Allocation in Investors’ Portfolios in Nominal Terms: JPMorgan (Coindesk)
Bitcoin is 3.7 times more volatile than gold.

Short-Term Options Have Become Popular in Commodities (CME Group)
Shorter-dated options in oil, soybeans and gold have all experienced record trading volume in the past year

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Today’s top gold news and opinion

3/8/2024

A real estate CEO predicts hundreds of banks will fail or be taken over by 2026 (MSN)
Commercial real estate has been hit by declining asset prices, costlier borrowing, and tighter lending.

China’s Gold Splurge Reaches 16th Month as Prices Hit Record (Bloomberg)
Bullion held by the People’s Bank of China rose by about 390,000 troy ounces last month

What’s the Investment Case For Gold? (A Wealth Of Commonsense)
From 1971 to 2023, gold was up 7.9% per year

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Today’s top gold news and opinion

3/7/2024

As gold scales all-time highs, Wall Street analysts say it has even further to go (CNBC)
Analysts at Citi describe themselves as “medium-term bullion bulls,” and see gold as a developed market “recession hedge.”

Gold is flying but miners are left in the dirt (FT)
Cheap targets abound, with some juniors reaching point where investment needs of projects look overwhelming..

Palladium climbs over 10% amid US policy maker’s remarks (Breaking The News)
Palladium skyrocketed 10.56%, selling for $1,028.15

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Today’s top gold news and opinion

3/6/2024

Gold prices sit close to record highs; more rate cues awaited (Investing)
Powell is set to testify before Congress on Wednesday

Gold’s Performance Against U.S., Asian Equities the Past Century (CME Group)
Overall, gold has nearly held its own versus equities over the past 100 years..

BRICS Will Create Payment System Based on Digital Currencies and Blockchain: Report (Coindesk)
“Work will continue to develop the Contingent Reserve Arrangement, primarily regarding the use of currencies different from the US dollar”

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Today’s top gold news and opinion

3/1/2024

Spring Festival sees healthy gold consumption…but what lies ahead? (World Gold Council)
Gold consumption during the longer-than-usual 2024 Chinese New Year’s (CNY) holiday was robust

Facing Facts: ‘Cautiously Bullish’ on Gold in 2024 (LBMA)
The geopolitical situation is expected to provide continuous support for gold.

Gold Vault (New York Fed)
Learn about the Federal Reserve Bank of New York’s gold vault

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Today’s top gold news and opinion

2/29/2024

Resilient gold market defies lower rate cut predictions (Saxo)
Despite the rising ‘cost’ of holding a non interest paying gold position and the markets current obsession with AI related stocks and cryptos, the yellow metal has done well amid underlying demand for physical gold as well as the softer dollar.

PLATINUM PERSPECTIVES (World Platinum Investment Council)
With palladium oversold and platinum’s attractive fundamentals, both metals have upside.

NBP second biggest gold buyer in the world in 2023 (Warsaw Business Journal)
Gold’s popularity is evident among Polish households, with 13% holding savings in gold, rising to 48% among those aged 18-24.

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Today’s top gold news and opinion

2/28/2024

Gold battles with 50-day SMA (Investing.com)
Momentum indicators turn neutral-to-positive

Gold back in favor as Gen Z buys (China Daily)
Gold jewelry processing and retail enterprises in China have also continuously innovated in the design of gold products, driving the increased demand for gold jewelry.

How Metal Demand will Skyrocket with Electric Vehicles & Electrification in 2024 (Noble 6)
Interview with Matt Watson, President of Precious Metals Commodity Management

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Today’s top gold news and opinion

2/27/2024

Through the lens of gold (CME Group)
Is there a better way to view gold?

Golden Insights: Discover the Role of Gold in Modern Finance! (SWP)
The looming threat of an ‘everything crash’..

Is the Value of Gold Stable? (Econlib)
“An ounce of gold has always bought a good men’s suit”

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Today’s top gold news and opinion

2/26/2024

Silver’s Golden Outlook (Vaneck)
The implied probability of the March rate cut dropped from 81.5% at the beginning of the year to 35% at the end of January.

US targets Russia with more than 500 new sanctions (BBC)
These include measures against Russia’s main card payment system, financial and military institutions

U.S. Mint Bullion Coin Revenue Falls 12.8% in FY 2023 (Coin News)
Across all gold, silver, and platinum bullion products, the United States Mint recorded sales of 22,009,000 ounces, marking a 24.5% increase compared to FY 2022.

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Today’s top gold news and opinion

2/22/2024

Goldman Sachs sees boost to commodity prices from rate cuts (Investing.com)
“driven by an easier Fed stance (rather than by lower GDP growth)”

Central Banks’ Gold Buying Spree Explained (Yahoo Finance)
Panel of industry professionals examines the rapid rate at which central banks have been buying physical gold.

Nvidia Declares AI a ‘Whole New Industry’—and Investors Agree (WSJ)
Chip maker’s blockbuster results and outlook signal that spending on AI hasn’t cooled after a red-hot year.

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Today’s top gold news and opinion

2/22/2024

Gold’s resilience despite recent ETF and futures selling (Saxo Bank)
Switzerland is the world’s biggest bullion refining and transit hub, and the 49% increase last month from a year ago was driven by robust sales to China and Hong Kong.

The safe haven appeal of gold amidst rising geopolitical risks in 2024 (IG Bank)
As data from GeoQuant shows, US political risk is also very tightly correlated with gold.

American Totalitarian “Crypto Dollar” May Come Before the Election (Brownstone Institute)
President Biden has Authorized the Exploration of a CBDC, and There Isn’t any Real Resistance in Congress.

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Today’s top gold news and opinion

2/21/2024

Silver Set to Outperform in 2024 as Gold Loses Luster (Investing)
The gold-to-silver ratio, currently high, could drive demand for silver stocks if it indicates undervaluation.

Gold at $3,000 and oil at $100 by 2025? Citi analysts don’t rule it out (CNBC)
Central bank aggressive purchases, stagflation, and a global recession are catalysts that could drive the price of the yellow metal almost 50% higher.

The Federal Mega-Debt is Here to Stay (Mises)
Many Americans appear to have been lulled into accepting some variant of modern monetary theory

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Today’s top gold news and opinion

2/20/2024

UK recession prompts spike in gold demand among investors, new data from The Royal Mint shows (IFA)
Following news of the UK economy entering a recession in the latter stages of 2023, The Royal Mint saw a 22% uplift in daily sales of gold last Thursday.

PRECIOUS APPRAISAL (Heraeus)
Sticky inflation swipes some of gold’s recent gains..

FBI Director Says China Cyberattacks on U.S. Infrastructure Now at Unprecedented Scale (WSJ)
Pre-positioned malware could be triggered to disrupt critical systems in the U.S.

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Today’s top gold news and opinion

2/16/2024

Data breach affects 57,000 Bank of America accounts (American Banker)
TA data breach at Infosys McCamish, a financial software provider, compromised the name, address, date of birth, Social Security number, and other account information of 57,028 deferred compensation customers whose accounts were serviced by Bank of America.

Xi Jinping will make the West pay for China’s economic collapse (Telegraph)
It used to be said that when America sneezes, the rest of the world catches a cold. The same might now be true of Beijing…

Gold ETFs See $2.4 Billion in Outflows While Bitcoin ETFs Thrive (Crypto News)
Some speculate that the outflows from gold ETFs are not necessarily flowing directly into Bitcoin ETFs, but rather into US equities driven by the fear of missing out (FOMO).

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Today’s top gold news and opinion

2/15/2024

China’s gold market in January: wholesale gold demand jumped, official gold reserves rose further (World Gold Council)
The PBoC reported the 15th consecutive gold purchase in January, adding 10t to their gold reserves and lifting the total to 2,245t.

The Central Bank Gold Rush: What It Means for You (Wealthion)
Sheds light on the strategic moves by central banks, the inflation hedge that gold presents, and the ongoing debate between gold and bitcoin as investment assets

Druckenmiller dumps Alphabet, Amazon and Broadcom but Nvidia remains largest holding (Market Watch)
Duquesne Family Office scoops up shares of beaten-down gold miners Barrick Gold Corp. and Newmont Corp.

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Today’s top gold news and opinion

2/14/2024

The Myth of the Unchanging Value of Gold (Mises)
“They use gold as a measuring rod to keep the value of money stable. Why? Because the yellow metal keeps its intrinsic value better than anything on the planet.”

Gold slides below $2,000/oz for first time in two months after US inflation data (Reuters)
Traders bet Fed will not cut rates until June

Tokenization of Gold (Rooba.Finance)
Blockchain technology emerges as a game-changer, simplifying processes, reducing formalities, and ensuring the secure recording of investment data.

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Today’s top gold news and opinion

2/13/2024

Gold Monthly: Assessing Fed policy and geopolitical risks (ING)
Gold has been trading in a narrow range so far this year amid a lack of clarity surrounding the timing of the US Federal Reserve’s monetary policy easing cycle.

Year of the Dragon: ‘dragon baby’ frenzy to drive up gold jewellery sales by 30%, gold prices to hit record highs, industry players say (SCMP)
“Gold jewellery sales are expected to increase by at least 30 per cent in the Year of the Dragon because of the “dragon baby” rush and gold prices are expected to hit record highs”

Silver Set To Rise To $30 This Year, But Where Is Momentum? (Investing Haven)
A recent research on the physical silver market revealed a growing supply deficit, suggesting a silver price of $30 in 2024.

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Today’s top gold news and opinion

2/12/2024

Asia Gold India flips to premium, Lunar New Year sparks buying in other hubs (Reuters)
China premiums at $36-$48/oz range this week

BRICS: 159 Countries Eyeing Russia’s New Payment System (Watcher Guru)
“Russia has a System for Transmitting Financial Messages (SPFS), which is an alternative to SWIFT. Similar infrastructure exists in some other countries. We are holding discussions on the interaction of such platforms, but here the interest and technical readiness of our partners are important”

Tech companies axe 34,000 jobs since start of year in pivot to AI (FT)
Microsoft, eBay and PayPal have each cut thousands of jobs since the start of the year

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