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

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.

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

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”

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.

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.

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.

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

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.

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).

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.

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.

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.

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

2/092024

Digging into the Future: The Role of Precious Metals and Sustainable Industry Practices (NASDAQ)
Nornickel has engineered a prototype that has created quite a buzz: It’s a catalyst – a substance that can speed up chemical reactions without getting used up. The catalyst is based on palladium.

Palladium price drops below platinum for the first time since 2018 (Reuters)
Palladium demand hugely driven by the auto sector. Auto industry has been replacing palladium with cheaper platinum.

Perth Mint’s gold sales hit nearly four-year low in January, silver sales up (NASDAQ)
Sales of silver products last month stood at 769,326 ounces, their highest level since October 2023, but were still down 38% year-on-year.

2/08/2024

Treasury secretary won’t say whether dept surveils Americans’ purchases: ‘Concerning’ (National Desk)
“Increasingly, we are hearing the federal government is suggesting banks search private financial transactions using highly partisan political terms or check to see if customers made purchases that could be associated with legal sales of firearms or even religious texts,” Rep. Wagner remarked.

Gold sales boom before Spring Festival despite price hike (China Daily)
In the Xi’an Tumen branch of China Minsheng Bank, sales of gold bars increased by 50 percent in January 2024 compared with the monthly average of the second half of 2023.

MAS third-largest buyer of gold globally in 2023 (CNA)
Singapore’s central bank is the third-largest buyer of gold globally last year, adding more than 77 tonnes of the yellow metal to its reserves.

2/07/2024

Silver set for a ‘terrific year’ and could outperform gold to hit a 10-year high (CNBC)
Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would mark the second-highest level on record…

Gold and silver turn defensive on reduced Fed rate-cut optimism (Saxo)
During the past week, the short-term rates market has gone from pricing in more than six 25 basis points US rate cuts this year to less than five.

Correlation Breakdown x 3 in Gold (Bullion Vault)
Over the 20 years to 2023, gold prices rose in 14 Januarys

2/06/2024

Gold still set for all-time highs once this ‘tailwind’ kicks in, analysts say (Market Watch)
Yellow metal pulls back to one-week low as dollar strengthens

13 Reasons Why A Recession Is (Still) Around The Corner (Forbes)
“There’s no way you could read that Beige Book and not come to the conclusion that the economy isn’t already starting a recession”

Chinese investors buy gold as property and stock markets fall (FT)
‘Blistering’ demand from central banks also helps keep yellow metal above $2,000 per troy ounce

2/05/2024

Gold prices to hit $2,200 and a ‘dramatic’ outperformance awaits silver in 2024, says UBS (CNBC)
As interest rates dip, gold becomes more appealing compared to alternative investments like bonds.

A truly disruptive idea’: should we keep gold in the ground? (The Guardian)
There is enough gold in circulation today that we could stop targeted industrial gold mining and it would not affect the supply we need for its practical applications.

FBI warns of in-person precious metals scam (WTXL Tallahassee)
The scammers reportedly pose as U.S. government officials or tech support, claiming a person’s account has been hacked.

2/02/2024

2024 Precious Metals Forecast Survey (LBMA)
Analysts reveal their insights behind their forecasts for highs, lows, and average prices for gold, silver, platinum and palladium.

Gold Outlook to Q4 2024: From one high to the next (Wisdomtree)
Looking at economists’ median expectations for 2024, the first rate cuts are likely to be delivered in Q2 2024 and we could see a total of 100 bps reduction by the year end

China gold purchases soar 30% on economic anxiety (Nikkei)
The People’s Bank of China’s 2023 net purchases totaled 225 tonnes, the highest since 1977..