Central Banks Added 77 tons of Gold in September
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.
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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 Countries with the Largest Gold Reserves
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.
Russian Economist Confirms: BRICS Currency Is Almost Ready
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.
Which Gold Coins are 22k?
Many 22-karat gold coins are favored by investors because they are more durable, making them less prone to scratches and dents compared to 24-karat gold coins.
Are Costco 1 oz Gold Bars a Good Deal?
Buying 1 oz gold bars from Costco may be a convenient option for some investors, but it is important to consider additional factors.
Silver Bullion Premiums Returning to Pre-Pandemic Levels
Silver premiums have not been this low in several years making this a great opportunity to back up the truck and load it up.
Gold & Silver Bars of the Atocha
According to historical records there were 1,038 silver bars, 160 gold bas and discs and over 255,000 silver coins, mostly consisting of “pieces of eight”. These coins were minted in the Americas and used as a global trade currency during the era. The silver coins had been hand-stamped at mints in Potosí, Lima, La Plata, Mexico City and Santa Fe de Bogotá.
Central Banks Continue Buying Gold
BRICS countries continue buying gold at a record pace as dedollarization continues.
What is 3TG?
3TG refers to four minerals that are commonly used in various industries, including the electronics, jewelry, and automotive sectors. These minerals are often collectively referred to as “conflict minerals” because their mining and trading have been linked to human rights abuses and armed conflict in certain regions of the world.
What is Fiat Money?
Unlike commodity money like gold or silver, which have intrinsic value, fiat money has no inherent value. Its value is solely based on the trust and confidence that people have in the issuing government. If that trust wanes, the value of fiat currency can be at risk and individuals and everyday workers will continue to see the purchasing power of the dollar diminish over the years. It can impact the ability to save for the future and plan for retirement.