Last year, Poland’s gold holdings eclipsed those of the European Central Bank. Officials say Poland’s gold reserves are valued at 356 billion zlotys ($91.4 billion).
O’Connell said a major economic shock could initially prompt distress selling, followed by renewed demand for gold: “You’d get distress selling first, and then it would pick up again.”
The collapse of Ueno Bank left nearly 3 million customers unable to access their bank accounts. That is roughly 60 percent of Paraguay’s adult population.
The resilience of the Precious Metals sector is a sign that some of the money fleeing the Tech sector is rotating into the downtrodden PM sector as a safe haven.
ETFs around the world continued adding gold to their holdings in October. However, the pace of gold accumulation slowed, with metal flowing out of North American funds.
Maharrey explains what may have driven the drop, what the Federal Reserve’s rate decision could mean for precious metals, and why he remains bullish on gold and silver over the long term.
We're watching history unfold in the financial and political markets, with the latest development being that Trump and the Republicans just got slaughtered in the midterms.
