Central bank gold buying more than doubled in July, as policymakers showed a continued commitment to increasing the percentage of yellow metal in their reserves.
Sound money, typically tied to precious metals like gold and silver, serves as a safeguard against inflation and government overreach in monetary policy.
Newman’s insights provided a comprehensive overview of the current state of the precious metals markets, highlighting the complexities and global nature of these markets.
Now the question is how big a rate cut we will see in September. If US data continues to be soft then we can expect a bigger rate cut, and likely a strong reaction from gold.
Mining is a tough business that is fraught with risks. Even when the value of a mine’s end product goes up, the costs of getting it out of the ground can go up even faster.
All I can say is that, with what we know about retail bankruptcies this year, it is particularly hard to believe last quarter surged due to robust consumers. It just doesn’t add up.
