Month: November 2020

Financial Times/World Gold Council/November 2020

“We need to diversify our diversifier and look for a safe haven beyond government bonds. Given Pimco’s view that rates will be kept very low for years to come causing depressed levels of real yield, gold feels like an appropriate diversifier.” – Geraldine Sundstrom, Pimco asset allocation specialist

USAGOLD note:  This article, written for Financial Times by the World Gold Council, features quick takes on gold’s future from several well-known analysts. It serves as a good get-acquainted piece for those contemplating investing in the metal for the first time.

The post The new normal for gold first appeared on Today’s top gold news and opinion.

Bloomberg/Alexandre Tanzi’11-18-2020

“Trade upheaval, a pandemic-induced recession and political disharmony renewed pressure to reduce the share of international payments in dollars. The U.S. currency has weakened more than 11% from its March peak, based on a Bloomberg index that measures it against a basket of major peers, and many observers are predicting its valuation to drop further.”

USAGOLD note:  One month does not a trend make and we would have to see a trend develop before we would think that something of real importance was actually occurring. Nevertheless, we thought the “event” worth noting and filing for future reference.

The post Euro tops dollar as payment currency for first time since 2013 first appeared on Today’s top gold news and opinion.

MiningWeekly/Tasneem Bulbulia

“Global gold mine production growth will rebound in the coming years, underpinned by higher gold prices and mergers between major mining firms, Fitch Solutions Country Risk and Industry Research says.”

USAGOLD note:   A quick overview of global mine production by country …… Much of the growth projected, they say, will come from Russia – a country that largely keeps its production within its own borders.

Repost from 11-18-2020

The post Fitch Solutions: Gold mine production to grow by 2.5% annually on average over next decade first appeared on Today’s top gold news and opinion.

CNBC/Jeff Cox/11-16-2020

“Even with the good news, Dudley said additional bridge money of $1 trillion to $2 trillion will be needed to get impacted individuals and businesses to the other side.”

USAGOLD note: Though no longer running the New York Fed, Dudley is pretty much following along with the consensus already voiced publicly by many Fed luminaries. This is the first time we can recall seeing anyone connected with the central bank offer a number.

Repost from 11-18-2020

The post Dudley says more fiscal stimulus needed even with vaccines first appeared on Today’s top gold news and opinion.

Blain’s Morning Porridge/Bill Blain

“However, it’s at the individual level where things really start to happen.  It’s a single pebble shifting that triggers a landslide. It’s the butterfly flapping its wing…. You know the story. Maybe the tipping point is a worker who just lost their job in a cinema because some exec decided to delay a film release. Or maybe it’s in the petty bureaucratic pain of trying to deal with a bank, or get an appointment to get your eyes tested. (I’m told the number of homeworkers suffering eye strain has gone through the roof.) As we get more and more frustrated and annoyed, there is an increasing sense that nothing really works or makes much sense anymore.  Our anger and sense of injustice is rising. Whoever shouts loudest seems to get all the attention. Things just ain’t working. Nothing seems to make sense anymore.  We are losing faith in decision-makers.”

USAGOLD note:  Some organizations have adapted very well to the new abnormal while others haven’t a clue. We all find ourselves separating the wheat from the chaff in that regard these days – and it soaks up valuable time. As for the bigger picture – the macro-political and economic scene – Blain is onto something. Things just don’t seem to be working very well.

Repost from 11-16-2020Repost from 10-14-2020

The post The little and big picture first appeared on Today’s top gold news and opinion.