India imported 60.542 tons (1,946,470.5 ounces) of gold in July. Indian gold imports in July were up 143% from 25 tons imported in July 2016. July gold imports were up 14% from June’s imports of 53.1 tons. Preliminary August Indian gold imports were up 69% from August 2016 imports of 26 tons. Watch this report … Read More →
August Sales of American Gold Buffalo Coins down 67% from August 2016. U.S. Mint Sold 3,000 24K one ounce gold coins in August vs 9,000 in August 2017. June 2017 sales were worse at 2,000 Total American Gold Buffalo and American Gold Eagle Sales were 12,500 ounces in August down 81% from 67,500 ounces sole … Read More →
Peoples Bank of China Adds No Gold to Reserves in August. The People’s Bank of China has not added any gold to reserves since they were admitted to the SDR in October 2016. Total reported People’s Bank of China gold reserves stand at 1842.6 tonnes – same as October 2016. PBOC foreign reserves rose for … Read More →
China Bans Initial Coin Offerings. China rumoured to close cryptocurrency exchanges. Russia and Malaysia add to warnings on ICOs. Russia looks to regulate crytpocurrencies. Canadian Regulators Approve Bitcoin Fund. More holes in the Chinese-gold backed Yuan denomminated oil contract story. Gold and silver rise again. Video Commentary to “Cryptocurrency Status in Turmoil – What’s Next?” … Read More →
The Perth Mint Sold 23,130 Ounces of Gold in August. August Perth Mint gold sales easily topped U.S. Mint total gold sales of 6,500 ounces. Perth Mint gold sales topped the U.S. Mint gold sales for the sixth month in a row. Gold sales at the Perth Mint in August 2017 were up 58% from … Read More →
American Gold Eagle Sales Remain Mired Close to Non-Existant. U.S. Mint sold 6,500 one ounce American Gold Eagles in August down from 13,500 sold in July. One ounce American Gold Eagle sales were down 87% in August from August 2016 sales of 50,000. Total number of American Gold Eagles sold in August were 25,500 including … Read More →
The National Bank of Kazakhstan Passes The Central Bank of Austria To Claim 19th Place Among Gold Holding Nations. Kazakhstan added 1.866209 tons (60,000 ounces) of gold to reserves in July. Total Gold Reserves Stood at 280.8644 Tons (9.03 million ounces) at end of July 2017. Kazakhstan added 36.1989 tons (approximately 1,163,820 ounces) of gold … Read More →
Nikkei Asian Review Claims China Preparing Gold-Backed Yuan Oil Payment Proposal. Hurricane Harvey swamps Houston. World War II Bomb to be detonated near German Bundesbank where nation’s gold is held. Gold and Silver Post Strong Gains. Cryptos Soar; Bitcoin Reached $5,000; Litecoin closed in on $100. Video Commentary to “CHINA PLANNING GOLD-BACKED CHINESE YUAN AS … Read More →
Cryptocurrencies Bitcoin and Litecoin are less prone to bubble valuations than ICOs. In a gold rush pick and shovel sellers often make more than the gold prospectors. In the crypto gold rush Ethereum and Bitcoin are both pick and shovel sellers and gold themselves. Watch the Video Companion to this blog post “The Bubble is … Read More →
Extremely Limited Supply and Strong Demand for Bitcoin and Litecoin Boosts Price. Much larger supply of gold than Bitcoin or Litecoin and additional supply via paper gold derivatives and gold pools further dilutes upward price pressure on gold that may be created by increased demand. Bitcoin is up nearly 700% over the past twelve months, … Read More →