Breaking news from the precious metals industry. Gold, silver and platinum group mining, refineries and refining technologies, minting and distribution.
News and information about the global drivers of prices in the precious metals markets. Including central banks, interest rates, industrial manufacturing, electronics and investors.
Kitco has restored some website services after being taken offline due to a cybersecurity incident nearly two weeks ago. The website now displays precious metals news, commentary and analysis, price charts and other information, but e-commerce functionality is still offline. The company
As one of the largest markets for physical gold, the demand and supply dynamics in the SGE can have a ripple effect on global gold prices.
This week, the Shanghai Gold Price topped the $2,100 per ounce resistance, closing the year at a record breaking $2,118.20 per ounce, the highest price per ounce in history.
While this helps to make precious metals more accessible to more people, consumers should be wary about purchasing their precious metals through Walmart as the premiums are often higher than buying direct from the dealer, even taking into account the higher premiums that come with using a credit or debit card for purchase.
Costco, the popular warehouse club known for bulk products and discount pricing, in recent months began offering 1 oz gold bars from PAMP Suisse and Rand Refinery for members to purchase via their website.
This week, various reports are emerging online that the Member’s Only retailer has increased its product offerings of precious metals to include tubes of American Silver Eagle coins, with customers reportedly receiving 2023 mintage year coins.
Earlier this year, the US Government hit a new milestone. The amount of government debt in the United States has grown to exceed $33.88 Trillion as a result of overspending by elected officials. The growing U.S. government debt is a complex issue with significant implications for American citizens and taxpayers.
Over the weekend, the website for Kitco went offline. After the outage, the company posted a message on their website that announced that they were responding to a cyber security incident.
In addition to being a precious metals dealer, Kitco is well-known for its news, data, and analysis on the precious metals, mining and commodities markets. It provides live prices and charts for metals such as gold, silver, platinum, and palladium, as well as market news and reports.
The Federal Reserve is part public entity and part private entity that has operated as the central banking system of the United States since the Federal Reserve Act of 1913. The Federal Reserve System, often referred to simply as the Fed has a unique public-private structure that controls the nation’s monetary policy by managing interest … Read moreWhat is the Federal Reserve?
With September’s purchases, central banks have added a net 337 tons of gold in Q3. It was the second-highest third-quarter total on record behind 2022.
Gold is considered a crucial element in diversifying a central bank’s foreign reserves because it bears little correlation with other assets, such as currencies and bonds.
While many are monitoring the developments in BRICS, the United States continues to hold the largest stockpile of gold reserves in the world by a considerable margin.
When trade happens in many different currencies, you have high costs of arbitrage of exchange rates between countries. When approaching dedollarization, central banks and countries need to simultaneously consider the fluctuations of national currencies of different countries.
Collectively, BRICS countries encompass over 40% of the world’s population and account for roughly 26% of the world’s GDP, representing a substantial share of global trade.