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Last week ended with silver pulling off a Friday recovery. The New York spot market closed with the metal at $28.68, having gained almost $1 for the day. This performance was fuelled by bad news, most notably regarding the US labor situation. After achieving a four-week high on Wednesday, silver prices have again fallen ahead of today’s trading session due to a lack of information about new monetary policies . . . .

According to Dave Kranzler, founder of Golden Returns Capital savvy investors and central banks in Asia are accumulating physical gold. The Gold Report asks the hard questions.

The Gold Report: You started your career, Dave, in the fixed income securities division of Goldman Sachs. And you worked as a junk bond trader before founding Golden Returns Capital. What prompted you to move into precious metals? . . . .

I am proud to say that I have been actively trading Gold since President Ford signed legislation that legalized private Gold coin and bar ownership, which took effect December 31, 1974. During those 37 years the Gold price moved from $103 in August of 1976 to $850 in January of 1980, and back to $284 per ounce in February of 1985. The Gold price traded between $250 and $475 from 1985 to 2001, (before the current bull move started), reaching $1,920 per ounce in September of last year. During those years I saw reasons for Gold ownership change from diversification, to speculation, to being an inflation hedge, and a safe haven investment numerous times. However, until now I have not seen . . . .

Central banks internationally continue to diversify their foreign exchange reserves into gold bullion due to concerns about fiat currencies – including the dollar and especially the euro. IMF data shows that central banks were again net buyers in April with . . . .

Gold demand in China may surge as much as 30 percent this year as rising incomes boost consumption, helping the country topple India as the world’s largest bullion market on an annual basis, according to the World Gold Council.

Demand, which rose to a record in the first quarter, may gain to between . . . . 

Goldman Sachs Group Inc. (GS) stood by its forecast for a rally in gold this year, saying that the precious metal will advance to $1,840 an ounce over six months as the U.S. central bank embarks on a third round of stimulus in June. “The case for higher gold prices remains in place,” the analysts wrote. “U.S. economic and employment data has now. . . . .

Precious metals have been relatively quiet this week. After posting its best weekly gain in two months, gold is trading slightly lower at about $1,650 per ounce. Meanwhile, silver is trading near $30.50 per ounce. Gold and silver are currently taking a pause, but have been in a bull market for more than a decade and apparently Americans are taking notice.

According to a recent Gallup poll . . . .

Argentina added to its gold reserves for the first time in nearly six years in September last year as the price hit record highs, mirroring the trend among emerging-country central banks to diversify further from paper currencies such as the dollar.

Data from the International Monetary Fund (IMF) yesterday showed . . . .

Latest IMF statistics released overnight show that a dozen countries increased their gold holdings in March, continuing the trend of Central Bank purchases which has now been apparent for the past two to three years ....

Despite the Dow Jones Industrial Average and the S&P 500 suffering their worst day of the year on Tuesday, precious metals were able to decouple and climb higher. Gold futures for June delivery increased almost $17 to settle at $1,660, while silver gained 16 cents to close at $31.68. Although gold prices declined in March and had the media buzzing once again about a possible bubble, the world continues to be more interested in precious metals than ever before.

Outside of the United States, countries take their gold business very seriously. Earlier this week ....