Good Reads
US Government Borrows $800 Billion In 3 Months
This is a gargantuan sum of money that annualizes to ~$3.2T. This is an astonishing amount of money given the economy is not technically in recession. If there is an even a minor bump in the economy, the government spending will have to increase which is going to drive this number even higher. Read on »
China Official Gold Buying Accelerates as It Brings Some of Its Gold Home
The People’s Bank of China (PBOC) officially purchased 640,000 troy ounces of gold in July. The nearly 20-tonne increase in reserves was the largest since 2023. This came on the heels of a 480,000-ounce increase to China's official gold holdings in June. The People’s Bank of China has officially added gold to its reserves for 21 straight months. Read on »
Gold Touches $4,400 as Traders Turn Focus to US Inflation Data
Bullion edged higher in early trading, after adding 3.6% over the previous two sessions. Technical buying was spurred by the metal’s ascent through the 100-day moving average on Monday, another sign of recovery after the emergence of dip-buyers and greater inflows from gold-backed exchange-traded funds in China. Read on »
Community News