News Articles

We have warned about this for many years and warned as recently as April this year that people should avoid using safety deposit boxes in banks. Greek capital controls also prevent access to contents of safe deposit boxes... it is important to own assets outside banking system and not in bank safe deposit boxes ... own physical bullion in private safety deposit boxes and the safest private vaults . . .

Sales of Gold Eagles increased from 21,500 oz in May to 76,000 oz in June due to investor’s concern on the financial fallout of a Greek Exit. However, this was nothing compared to Gold Eagle buying during the remaining days of last week. Something quite interesting took place on Friday last week. . . . .

The 2015-W American Liberty gold coin will be struck three times, with the press operator inserting the planchet and removing the coin manually, U.S. Mint officials confirmed July 2. The Mint also confirmed that custom planchets will be used for the high relief 1-ounce .9999 fine gold coin . . . .

Iran has successfully repatriated this week 13 tons of gold as part of a package of sanctions relief provided by the U.S. and other five global powers . . . .

Gold is worth holding in diverse portfolios even despite the determined dollar strengthening trend ... Terrorism against U.S. interests within our borders pose a danger to the dollar ... Sustained disturbances or a catastrophic attack could have a lasting impact and drive gold sharply higher . . . .

The European situation changed dramatically over the weekend and this had caused me to change my position on gold . . . .

China plans to launch a yuan-denominated gold fix by the end of 2015 via the Shanghai Gold Exchange (SGE), in a move aimed at giving the world’s biggest bullion producer and consumer more influence over pricing . . . .

Over the past several years, world central banks have become buyers of the gold bullion. They continue to buy now, as gold prices remain depressed compared to their 2011 price levels ... The first quarter of 2015 marked the 17th consecutive quarter where world central banks were net purchasers of gold. This is significant ... with their buying spree, central banks are sending a simple but clear message: they want gold as part of their reserves . . . .

Bank of China Ltd. will become the first Chinese bank to join the auction process that sets gold prices in the London market. The bank, along with seven other lenders, will start participating in the twice-daily electronic auction, according to a statement from the London Bullion Market Association on Tuesday. While China is the world’s largest bullion buyer, it has never directly played a role in determining London gold prices . . . .

Suppose someone approached you in the year 2000, when the price of gold was around $250 an ounce and suggested that it would be worth almost eight times its current value within the next decade. I am sure most people would have thought that person to be less than credible making such an outrageous market call . . . .