By: Chris Mullen, Gold Seeker Report - 31 August, 2018
Gold gained $8.60 to $1208.80 in Asia, but it then chopped back lower in London and New York and ended with a loss of 0.09%. Silver slipped to as low as $14.487 and ended with a loss of 0.34%. Full Story
Here is our weekly digest of the important news, market updates, charts and videos we covered this week. As emerging market currencies around the world collapse in value and gold reaches new record highs in these fiat currencies, we felt it important to look at the terrible situation in Venezuela and consider whether this will be the fate of other massively indebted nations. Full Story
By: Chris Mullen, Gold Seeker Report - 30 August, 2018
Gold fell $5.80 to $1200.50 in Asia before it bounced back to $1206.70 in London and then plunged down to $1196.50 by a little before 10AM EST, but it then chopped back higher into the close and ended with a loss of just 0.51%. Silver slipped to as low as $14.515 and ended with a loss of 1.36%. Full Story
– “This is a financial war … Russia is dumping Treasuries to get out from under dollar hegemony” – Rickards on CNN Money – Russia ramping up gold buying and has “tripled gold reserves in 10 years,” from 600 to almost 2,000 tonnes – “Russia is pushing back” against U.S. sanctions using cyber financial warfare and acquiring gold bullion as a hedge Full Story
All over the internet I have been reading that a higher trajectory of US interest rates will drag down gold. I believe that the long term gold price is more about the global political situation and not pure economics. The US induced trade war and its domestic protectionism will ensure that gold/crypto currencies backed by gold, replaces the US dollar as the medium of exchange between central bankers. Full Story
By: Chris Mullen, Gold Seeker Report - 29 August, 2018
Gold saw slight gains in Asia and rose to as high as $1206.70 at about 9:15AM EST before it dropped towards unchanged by late morning in New York, but it then bounced back higher into the close and ended with a gain of 0.42%. Silver chopped between $14.66 and $14.789 and ended with a gain of 0.27%. Full Story
– Currency has become worthless in Venezuela’s hyperinflation – Venezuela was once one of the wealthiest countries in South America – Currency collapse due to massive currency “printing,” digital currency creation and misguided socialist government – Toilet paper roll costs 2.6m bolivars or 0.40 cents but a gold coin (1 oz) can buy over 3,000 toilet rolls Full Story
By: Chris Mullen, Gold Seeker Report - 28 August, 2018
Gold waffled near unchanged in Asia and rose to see a $4 gain at $1214.30 in London before it dropped to a new session low of $1207.10 by late morning in New York and then bounced back towards unchanged by midday, but it then fell back off again into the close and ended with a loss of 0.74%. Silver slipped to as low as $14.671 and ended with a loss of 1.08%. Full Story
– Trump’s America waging economic warfare against most of the world and 2 billion people with a combined GDP of more than $15 trillion – Targeted nations include China, Russia, Iran, Venezuela, Pakistan, Turkey, Cuba, Sudan, Zimbabwe, Myanmar, the Democratic Republic of Congo, North Korea and others… – “Bull markets eventually come to an end and with a national debt of $21 trillion and growing at a rate of a trillion dollars a year, the awakening could be ruder and sooner than most economists predict” Full Story
The new US-Mexico bilateral trade deal will be bullish for stocks. The auto sector and industrial metals should be the biggest beneficiary. There are chances that Canada will enter the deal to make it a trilateral deal. This will be a big relief for global financial markets which can be caught in the whirlpool of trade tariff wars. Full Story
By: Chris Mullen, Gold Seeker Report - 27 August, 2018
Gold saw modest gains in Asia before it fell back to $1203.30 in London, but it then jumped to as high as $1212.40 in New York and ended with a gain of 0.39%. Silver chopped between $14.747 and $14.914 and ended with a gain of 0.47%. Full Story
– Paper currency in Venezuela is now worth less than toilet paper – Incredible Reuters photos highlight the disaster that can become of fiat (both paper & digital) currency devaluations – 2,600,000 paper or electronic bolivars for one roll of toilet paper – 14,000,000 bolivars for one chicken highlights the disastrous decline in the standard of living in the socialist dictatorship Full Story
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