News Articles

Moscow-based central bank expected to slash rates this week as data show massive gold stockpiling in March . . . .

China and India’s gold buying activity increased the most in March 2015, according to data from the Swiss Federal Customs Administration. The data showed that China almost doubled its gold buying to 46.4 metric tons in March 2015. India also joined the party . . . .

Enter the Dragon. China’s push to challenge U.S. dominance as the global economic superpower and to challenge the dollar as a global reserve currency involves gold – “a lot of gold” . . . .

According to reports, gold sales in India picked up during the Akshaya Tritiya festival after what was believed to have been a relatively slow start . . . .

Russia increased its gold holdings by one million ounces in March, bringing its total reserves to nearly 40 million ounces or 1,238 metric tonnes. The Russian one million ounce gold purchase is a large one even by Russian standards as in recent years they have consistently been buying roughly 300,000 ounces per month . . . .

The common theme is that GDP, debt, sales, and much more increased exponentially. Our world is based on exponential economic growth. Consider a few HYPOTHETICAL examples of what we accept as normal . . . .

No one knows exactly how much gold China has – but we know it’s a lot. Last disclosed in April 2009, China gold reserves were at 1,054 tonnes. At least, that was the official number You see, China only reports its gold reserves every few years. The most recent number suggests . . . .

It is a bit hard to fathom but nearly three years have lapsed since I penned a rant called “Why Gold Stocks Suck” (Mercenary Musing, April 30, 2012) after a Cambridge House conference in Calgary.

At that time, I had little inkling that the bear market for gold exploration and mining companies would continue into its fifth year and be deeper now than in the spring of 2012 . . . .

Kazakhstan boosted gold reserves for a 29th straight month as Russia and Ukraine maintained holdings, the International Monetary Fund said . . . .

Gold has increased for five straight days and is now positive for the year 2015. According to one top financial technician, who works at Bank of America, the rally has just begun . . . .