Month: August 2020

BusinessInsider/Saloni Sardana/8-15-2020

“GraniteShares’ [Ryan] Giannotto said: ‘Oftentimes, central banks will purchase sovereign bonds or foreign currencies for their balance sheets, but gold is simply an alternative asset to accomplish the same goal – make their currencies credible in the eyes of global markets.’”

USAGOLD note:  Also, gold plays the same role in a central bank’s asset structure that it does in private investment portfolios – as the ultimate store of value and asset of last resort. One aspect of the official sector gold mobilizations often overlooked in the discussion is the repatriation movement.  Those that don’t have it want it. Those that already have it increasingly want it stored inside their own national borders and not on deposit elsewhere.

American Eagle Gold and Silver Bullion Coin Sales by Month
(2020)Click to enlarge

USAGOLD note:  With four and a half months still to go in 2020, sales of gold and silver American Eagle bullion coins for 2020 have already exceeded 2019’s pace.  The U.S. Mint produced 371,000 ounces of the popular gold bullion coin in 2019 and 823,500 ounces through August 15, 2020. Total sales of American Eagle silver bullion coins for 2019 was 14,863,500 compared with 15,294,000 so far in 2020. Bullion coins sales serve as a bellwether for overall interest in the physical metals among investors.

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1. Warren Buffett’s Berkshire Hathaway Joins the Gold Rush  The Wall Street Journal
2. Warren Buffett Dumps U.S. Bank Stocks And Buys Gold Mining Stock; 13F Filing Shows Tech Exodus Among Hedge Funds  Forbes
3. Gold Miners Jump With Berkshire Sending Barrick to 2013 High  Bloomberg
4. Opt for These Stocks as Buffett Buys Stakes in Gold Mining  Yahoo Finance
5. Barrick Gold’s stock soars more than 10% after Buffett’s Berkshire reveals stake  CNBC
6. View Full Coverage on Google News

1. Gold once again challenges $2000 per ounce  Kitco NEWS
2. Gold Recovers Early Losses To Move Higher; Focus Turns To US Central Bank  NDTV Profit
3. PRECIOUS-Gold firms on soft dollar as focus turns to Fed  Reuters
4. Price of Gold Fundamental Weekly Forecast – Short-Term Traders Locked-in on Treasury Yields  FX Empire
5. Gold eases as investors await Fed minutes  Deccan Herald
6. View Full Coverage on Google News