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.
Central banks across the Global South have been actively bolstering their gold reserves in anticipation of this transition. China, a major player in this shift, has been consistently purchasing gold for 18 consecutive months, with a staggering $53.3 billion worth of U.S. Treasuries being sold off since the beginning of the year.
Earlier this week the Federal Reserve released a report that showed at least 37.5% of foreign central banks are moving away from the dollar as their main reserve currency in favor of gold.
Costco is now offering gold products more frequently, with some of the more popular bullion items being available daily.
As an incentive to new customers, some online dealers offer spot price deals to new customers as motivation to make a purchase. By combining all of the available spot price offers, it’s possible for an investors to build a small precious metals portfolio that contains roughly a kilogram of silver and 1 oz and 11 grams of gold.
Economist and a member of the Economic Advisory Council to the Prime Minister of India, Sanjeev Sanyal, said on Friday that India will now hold most of its gold in its vaults. Citing the decline in confidence in dollar assets among central banks as one of the prime reasons
The House of Representatives voted to pass the CBDC Anti-Surveillance State Act by a margin of 216 to 192, with 213 Republicans voting in favor. Three Democrats voted for the bill, while 192 Democrats opposed it.
Representative Thomas Massie of West Virginia announced the introduction of a new bill, Federal Reserve Board Abolition Act (H.R. 8421)
The project encompasses more that 1,000 acres of land, including 360 acres from a local rancher and involves an open-pit mine that aims to extract 1 million ounces of gold and 248 million pounds of copper from high-grade mineralization deposit.
Just one day after taking office, by referencing an old World War I statute called the “Trading With The Enemy Act” of 1917, Roosevelt essential declared war on ordinary American citizens when he declared a four day bank holiday and closed all banks including the Federal Reserve.
A few days later, the Emergency Banking Act was signed into law which gave Roosevelt an unprecedented amount of power and control over the economy.
The $10 Eagle gold piece was minted from 1795 until 1933 and contains 0.48375 troy ounces of gold.