The current crisis with the LBMA stems from a massive movement of gold from London to New York, a shift that accelerated in late 2024 due to fears of new trade tariffs and growing demand for physical metal rather than paper contracts. Timeline So Far This unfolding crisis raises serious concerns about the London gold … Read moreGold Drain from London to New York: LBMA Defaults on Gold Deliveries
The central bank gold buying spree has been propelled by economic uncertainties, inflation concerns, and a growing interest in reducing dollars held in foreign reserves.
Florida’s exploration of gold and silver as currency aligns with a return to sound money principles.
Today, the Federal Reserve announced their decision to cut interest rates by 50 basis points (0.5%), marking the first rate since the early days of the COVID-19 pandemic.
Gold has surged to a new all-time high of over $2,555 per ounce, driven by economic uncertainties, expectations of a Federal Reserve rate cut, and increasing demand as a safe-haven asset. ING projects gold to average $2,700 by 2025, supported by geopolitical tensions, lower interest rates, and rising central bank purchases.
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.
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
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.
BRICS countries continue buying gold at a record pace as dedollarization continues.