The Real Story Behind China's Gold Demand and Reserves
Despite speculation that China’s People’s Bank of China (PBOC) drove gold prices to an all-time high in May, its official gold reserves, though growing, are not exceptionally large compared to other countries. China’s gold reserves constitute less than 5% of its total forex reserves. However, China remains the world’s largest gold importer and producer, highlighting […]
“Insane”: Senate Dems Blasted For Adding Women To Draft
“Insane”: Senate Dems Blasted For Adding Women To Draft Out of the hundreds of conservatives hunted down by the Biden DOJ, social media influencer and shitposter extraordinaire Douglass Mackey‘s case was particularly absurd. During the 2016 election, Mackey promoted internet memes suggesting that people could vote through text messages (as opposed to unsecured dropboxes) – […]
History Warns: Recession Looms as Fed Maintains High Interest Rates
Despite falling inflation and reduced consumer spending, the Federal Reserve decided not to lower interest rates on June 12, raising concerns about a potential recession. Historically, restrictive credit policies have led to economic downturns, hurting ordinary people reliant on credit. Policymakers should heed past lessons that deflation is more dangerous than inflation and consider low […]
World Gold Council Survey: 29% of Central Banks to Increase Gold Holdings in 2024
The World Gold Council’s 2024 survey reveals that central banks plan to continue increasing their gold reserves amid a complex geopolitical and financial environment. In 2023, central banks added 1,037 tonnes of gold, following a record 1,082 tonnes in 2022. The survey, conducted from February to April 2024, shows 29% of respondents intend to boost […]
China's Energy Consumption Per Person Outstrips Europe, Led by Tech and Renewables
China’s per capita energy use surpassed Europe’s for the first time last year, driven by technology and manufacturing demands. While China increased coal-fired generation, it also led in adding renewable energy capacity, reducing its carbon intensity. This shift highlights a global decarbonization challenge, as declining fossil fuel use in Europe may increase emissions in manufacturing-heavy […]
Tether Launches a New Gold-Backed Dollar-Tracking Token
Tether has introduced “Alloy,” a new gold-backed asset, with its first token, aUSD₮, pegged to the U.S. dollar and backed by Tether Gold. This innovative product aims to provide price stability by combining the stability of the dollar with the value of gold. The system adjusts collateral values in real-time, and liquidates assets if gold’s […]
Thailand Joins China In Driving Gold Bull Market
Thailand Joins China In Driving Gold Bull Market By Jan Nieuwenhuijs of Gainesville Coins Shedding its long-standing price sensitivity to the price of gold, Thailand is currently a gold buyer driving the price up, just like China. Present changes in the global gold market, in which pricing power is shifting East, could be a precursor […]
Yuan Hits Weakest Level Since November as China Loosens Currency Control
China’s central bank set the yuan’s reference rate at its weakest since November, signaling a loosening grip on the currency as the dollar strengthens and traders expect prolonged high US interest rates. The yuan remains under pressure due to capital outflows and mixed economic data, while Chinese banks maintain their benchmark lending rates.
SNB Unexpectedly Cuts Rates Again As Swiss Inflation Continues To Ease
SNB Unexpectedly Cuts Rates Again As Swiss Inflation Continues To Ease The Swiss National Bank unexpectedly cut interest rates on Thursday for the second time this year, pointing to easing price pressures that allowed it to maintain its position as the front-runner in the global policy easing cycle now underway. The Swiss franc, which had […]
Soft U.S. Data Pushes Gold to Two-Week High
Gold prices reached a two-week high on Thursday due to weak U.S. economic data boosting expectations of Fed rate cuts later this year, along with global election uncertainties. Spot gold rose 0.3% to $2,333.69 per ounce, while U.S. gold futures remained steady at $2,347.30. Market expectations of the Fed’s policy shift and persistent geopolitical tensions […]