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.
The US Embassy has issued an advisory for Americans living in South Africa to “maintain 72 hours’ worth of supplies at home by stockpiling non-perishable food, three litres of drinking water per person per day, and medicines and first aid supplies”. Advising people to be prepared for SHTF worst case scenarios.
Slowing demand likely caused by excessive premiums resulting from last year’s supply chain and production problems
The global economy is shifting back towards some form of a gold standard while the Federal Reserve is piloting various CBDC projects, new legislation introduced in Congress to block the Fed from issuing individual accounts
Some see the rise in demand by central banks buying gold as a signal that countries that have been bullied by Western economic policies as being eager for an alternative system that will create a more equitable system and fairer monetary standard.
Employment in the mining sector has fallen over 20% in the last decade due mine shutdowns resulting from the decline in demand for coal
Having a sizable store of central bank gold provides stability for a nation’s fiat currency, and gives confidence to foreign trading partners
Preliminary data shows that silver mine output increased by 4% global last year.
While SpaceX is currently the leading company in commoditizing space travel, a new startup is preparing to launch a prototype demonstration outer space refinery.
Both the Perth Mint and the Royal Mint have announced huge increases in year over year sales of precious metals.
The latest report shows modest slowing of inflation in December, with the index showing that overall prices increased roughly 6.5%.