⛏ Central Bank Gold Buying Ramped Up Again in May

Central Bank Gold Buying Ramped Up Again in May
In the latest World Gold Council survey, central bankers overwhelmingly said they expect global gold reserves to continue growing in the next 12 months. They seem to be putting their money where their mouths are. After flipping back positive in April, central bank gold buying accelerated in May. According to the latest data compiled by the World Gold Council, central banks globally added a net 41 tonnes of gold to their reserves in May. Read on »

Spot gold pulls back from two-week high on stronger dollar
Gold prices retreated from two-week highs on Monday, pressured ​by a firmer U.S. ​dollar, though losses ​were limited as signs of a cooling U.S. labour market eased expectations of a Federal Reserve rate hike. Spot gold fell 0.4% to $4,159.99 per ounce after hitting its highest since June 22. U.S ⁠gold futures for August delivery climbed 1% to $4,167.50 per ounce. Read on »

Does the US deserve to have the world’s reserve currency
The US dollar became the world’s primary reserve currency due to the economic devastation of World War II and was cemented by the 1944 Bretton Woods Agreement. Because the US mainland was untouched by war and held most of the the world’s gold, 44 Allied nations agreed to peg their currencies to the dollar, which was backed by gold. What are the issuer’s responsibilities? Read on »