President Trump fulfilled one of his campaign promises by pulling the United States out of the Iran nuclear agreement that was negotiated under the Obama administration. It remains unclear, however, how reimposing economic sanctions might impact global markets. If there is one early indicator, it’s gold demand.
[This article also appears on CoinWeek.] Each year, the spring festival known as Akshaya Tritiya is celebrated by Hindus and Jains all around the world. The beginning of the celebration falls on April 18th (today) this year. As is always the case, the holiday will be accompanied by a surge in gold purchases.
To slightly amend a quote from the classic film Fight Club, “On a long enough timeline, the survival rate of every fiat currency is zero.” The deteriorating economic situation in Venezuela has added the country’s currency, the bolivar, to this ever-growing list.
Despite only a gradual increase in prices over the past two years or so, gold demand for investment purposes is set to rise yet again in 2018.
One of the persistent themes of the world economy over the next decade or more will be the sustained growth of the market for renewable energy sources. Many investors may not realize that silver is one of the crucial components of the photovoltaic (PV) cells that make up solar panels. It cannot easily or economically […]
There were a number of important shifts in market behavior that occurred during early February’s dramatic—albeit brief—correction in the stock market. Here is one clear example: The largest gold exchange-traded funds (ETFs) saw major outflows amid the swings and gyrations in equities last month.
Despite their own checkered history of misdeeds, big banks tend to take cases of fraud rather seriously. At least they do when their money is involved. This seems to be the case in what is being billed as the single-biggest instance of bank fraud in India’s history.
Glencore PLC, the London-based multinational copper miner, is facing considerable new obstacles in the Democratic Republic of Congo (DRC). The company must navigate changes to the country’s existing mining code that are slated to be enacted.
This coming Friday, February 16th, marks the beginning of the Chinese Lunar New Year. The occasion signals the end of the Year of the Rooster and the start of the Year of Dog in 2018. It is a time of celebration for many cultures around the world. Accordingly, the Lunar New Year is often seen […]
The financial news regularly focuses on day-to-day happenings such as earnings reports, central bank meetings, and the recent overhaul of the tax laws. This “breaking story” mentality is not entirely surprising; it’s the nature of news. However, amid the rush of new things to report, one ominous problem looms in the background and receives comparatively little […]
There is no more famous South African coin than the Krugerrand. The iconic gold bullion coin is celebrating its 50th anniversary this year.
Late last year, Indian Prime Minister Modi surprised everyone by swiftly demonetizing the country’s 500- and 1,000-rupee notes, the two largest banknote denominations. This amounted to a staggering 85% of the country’s circulating cash. On top of that, it exacerbated the issue of pent-up gold demand due to the temporary shortage of currency.
One of the facts of the post-industrial world is that affluent societies waste a great deal of resources, whether it is food, energy, or otherwise. In Switzerland, where 70% of the world’s gold gets refined, trace amounts of precious metals (primarily gold and silver) have been detected in the country’s waste water. The concentrations are […]
It’s not a great surprise that a persistent tension exists between mining companies and environmentalist groups. Exploiting the planet’s natural resources is one of the human race’s greatest achievements, making virtually all of the wonders of the modern world possible. The problem is that most of this activity, when undertaken without the proper precautions, threatens […]
In India, a country already so hungry for gold, there may be a new source of precious metals to meet the public’s seemingly insatiable desire for the yellow metal. The catch? It’s effectively at the bottom of the ocean.
For generations, India has been known as one of the world’s primary sources of gold demand. However, last year its gold imports fell off considerably due to a variety of new policies by the Indian government regarding gold ownership, taxation, and even the supply of paper money in the country.
In another blow to the rising star of Bitcoin and other cryptocurrencies or blockchain platforms like Ethereum, one of the world’s largest Bitcoin exchanges was victimized by hackers, with a significant number of digital “coins” stolen.
Even before its inception, skeptics have been predicting the downfall of the euro, the common currency of the member nations of the European Monetary Union. Many saw this project as doomed from the start. Nonetheless, the currency quickly became the biggest rival to the U.S. dollar in international markets. After nearly two decades on the […]
It’s been nearly five decades since the Bretton Woods system, a de facto gold standard, was abandoned by the Nixon administration in 1971. Under this arrangement, the price of gold was fixed to a specific dollar amount (generally $35 per ounce), and then all other world currencies were tied to the dollar. The U.S. Treasury […]
This week’s sudden breaking of diplomatic and trade relations with Qatar by influential Persian Gulf oil monarchies took the world by surprise. The foundation for this move, however, has been growing for years. Since 1995, Qatar’s rulers have striven to move out from under the shadow of the Saudis and become more influential in the […]