Author: Gold News Club

BusinessTimes/Charleston Lim/1-27-2020

“Gold sellers in Hong Kong and Mainland China are expecting a surge in demand for the precious metal this year. The boost reportedly happens quite regularly during the Year of the Rat as it is often considered by traditional Chinese people as the best time to get married and have babies.”

USAGOLD note:  As we posted last week via Bullion Vault, China’s gold consumption was down in 2019 on the basis of weight but near an all-time high the basis of yuan expended. The top year was 2013 and 2019 second.

“A customer of mine who is 55 years old recently asked if it was not too late for him to get into precious metals. The answer is no – it is not too late to invest in gold and make a profit at any age. Quite the contrary, with the market showing the early signs of a correction, it is, in my humble opinion, a perfect time to invest in precious metals.” – Oliver Garret, Forbes

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BloombergOpinion/Jim Bianco

“In essence, the Fed has become the lender of first resort when it should be the lender of last resort and offer repo at a penalty rate. The Fed should be willing to help a dealer in need, but it should come at a price.”

USAGOLD note:  Bianco offers a solid critique of the Fed’s new repo and reserves program and ends with a caution.  “The repo market’s problem,” he says, “is far from over.” Bianco was early in calling Fed policy a version of quantitative easing.

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Repost from 1-23-2020

US lawmakers want answers about Idaho gold mine process  Idaho Press-Tribune

Auteco to acquire stake in Canada’s Pickle Crow gold mine  Mining Technology

Despite U.S. sanctions, a South Florida businessman is linked to Venezuela’s gold industry  Miami Herald

Gold Price Analysis: Bulls looking for a discount in $1560s  FXStreet

Are drones and Will Smith coming for gold and silver mining?  Kitco NEWS