In March and April of this year, the once-quiet gold market came alive, breaking through its three-year resistance zone of $2,000 to $2,100 and soaring by $400 in just a few weeks.
Members of the woke left want to return to policies based on this primitive economic thinking. One of their major errors is thinking that the world is zero-sum.
For the fourth straight month, gold-backed ETFs increased their net gold holdings. Funds in every region reported net inflows of gold with Western funds leading the way.
While gold swaps are down significantly from the 501 tonnes estimated in January 2022, the level seemingly remains quite volatile, suggesting the use of swaps to cover shorter-term trading requirements.
The FOMC members have gone from “We haven’t decided what to do” to “We’ve decided what to do unless something changes.” They’re on track to loosen but still arguing over details.
The yellow metal is up over 21.6 percent this year, ranking among the best-performing assets. Along the way, it has hit new all-time highs more than 20 times.
The Russia News Agency announced it will increase its gold purchases from 1.12 billion rubles per day to 8.2 billion rubles per day over the next month.
