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US National Debt: We know the progression of debt – it increases, or it increases rapidly. Since 1913 the official US national debt has increased about 9% per year – every year. Has the economy increased 9% per year? Of course not! And...
The past week was quite “boring” in the precious metals complex. Gold and silver traded lower during the week before recovering on Friday. The miners, obviously, followed a similar path.
Exactly one week ago, gold was trading close to its multi-year low and a lot of observers were convinced that gold was ready to collapse to $1,000 per oz in a similar fashion as it did in April and June of 2013.
The story in the markets since last year has been undoubtedly the crash of the oil price (-50% in six months) and the monstrous rally of the U.S. dollar (+25% in the same period of time). Putting the recent U.S. dollar uptrend in...
Gold got hit hard Friday on two fronts. One was the sharp jump in US interest rates. The other was the surge in the US Dollar to the highest level in eleven years. The chart below shows the price of gold tumbling $29 (-2.4%) on Friday to...
Let us start with the facts. As per the chart below, it appears that Russia has accumulated more than 26 million ounces of physical gold in less than 10 years. In that same time period, there have been only 3 months in which the Russian...
Let us go straight to the key message. The long-term gold chart is flashing a “buy” signal based on the technical indicator “MACD.” The chart below says it all. Mind that this is a monthly chart, which means it looks at gold from a long...
Gold was unable to rally above $1,300 per ounce. It briefly traded above $1,300 last week, but pulled back earlier this week, and is sharply lower today with a loss of -2.5%. Silver was down 7% to $16.80 at a certain point during the...
Today, the European Central Bank expanded stimulus measures. ECB President Mario Draghi said the bank will buy 60 billion euros a month of assets through September 2016. According to Bloomberg, The Executive Board earlier proposed buying...
This article is based on an interview conducted by Claudio Grass, the Managing Director of Global Gold based in Switzerland, with Mr. Steen Jakobsen. Mr. Jakobsen is the Chief Economist and Chief Investment Officer at Saxo Bank, where he...

Nearly 40 percent of all gold ever mined was recovered from South African rocks.

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