A divided FOMC decided to hit pause in its easing cycle following a rate cut at its October meeting offered little guidance on what would cause policymakers to change their minds on the outlook, minutes of the central bank’s last policy meeting showed. The readout released on Wednesday of the Oct. 29-30 policy discussion, at which […]
$XAU, $OIL, $USD A Russia official reportedly has declared that Moscow can thrive despite falling Crude Oil prices because of its massive gold holdings and the government’s efforts to reduce reliance on energy resources, Russian Finance Minister Anton Siluanov said that while Moscow is satisfied with the current price of Crude Oil, possible market turmoil will […]
$GLD, $XAU, $GOLD A major annual analysis of major gold discoveries yielded 278 deposits containing 2.16-B oz of gold discovered over the Y’s 1990-2018 frame, an increase from the 1.94-B oz in 263 deposits in the Y 2018 analysis. The discovery list increased by 15 deposits and 215.1-M oz of gold is heartening, by far […]
$GLD, $XAU, $USD FLASH: It looks like the gold-buying spree by central banks during the past 10 yrs will probably continue for a while yet. In a survey of central banks conducted by the World Gold Council (WGC) and YouGov, 54% of respondents expect global holdings to climb in the next 12 months amid concerns […]
The US Defense Department is seeking new federal funds to bolster domestic production of rare earth minerals and reduce dependence on China, the Pentagon said Wednesday, amid mounting concern in Washington about Beijing’s role as a supplier. The DOD’s request was outlined in a report that sent to the White House and briefed to Congress, […]
Russia Sells US Treasuries, Buys Gold $GLD Russia is buying Gold, and selling its US Treasuries to avoid “political blackmail,” according to a precious metals market analyst. “This is also a kind of political declaration, stating that countries which have too many dollars can become the object of political blackmail,” the expert, Munich-based Dimitri Speck […]
China Gold: Demand Rises 20% YTD $GLD, $USD China’s demand for Gold reportedly rose almost 20% in the 1st 9 months of this year amid strong sales of Bold bars. China’s gold demand rose 16 percent year on year to 815.89 tonnes in the first three quarters of 2017, Xinhua reported, citing the China Gold Association. Jewelry […]
China Plays a Role in the Gold Market, How Important? $GLD, $USDCNY China has been accumulating Gold over the past 10 years, and it is also the largest producer of Gold in the world and perhaps the world’s biggest consumers of the precious Yellow metal. The World Gold Council’s (WGC) data for Q-2 Y 2017, says […]
Germany Brings Home Some of its Gold Reserves $GLD Germany’s central bank has brought much of its Gold reserve back to Frankfurt, the Bundesbank said earlier this month, restoring a Key element of economic stability the country had sent overseas for safekeeping at the height of the Cold War. Guarded well out of Moscow’s reach […]
Norway manages its significant hydrocarbon resources and revenues in a sustainable way, and remains a reliable supplier of oil and gas, but Norway’s government should prepare for a future with lower oil and gas revenues. The recommendations were made in the International Energy Agency’s latest assessment of Norway’s energy policies. “As one of the world’s […]
Saudi Aramco’s Crude Oil Reserves Confirmed by External Audit ahead of IPO $OIL, $BHI, $BP Based on a figure of 265-B barrels, Aramco’s fields contain about 15% of the world’s proven Crude Oil reserves The 1st independent audit of Saudi Aramco’s Crude Oil reserves has confirmed the state Oil company’s own figures, sources familiar with […]
Quebec to Open up Shale Oil & Gas Reserves TVX:QEC, TVX:JNX Quebec passed hydrocarbon legislation that is likely to open up Shale Gas and Oil reserves to energy companies operating in the Province. Bill 106, introduced in June, passed by a margin of 62 to 38. It creates a new agency to promote Quebec’s transition […]
China Trying to Halt Capital Outflows, Market Bears “Smell Blood” $USDCNY China’s increasingly aggressive measures to clampdown on capital outflows has not gone unnoticed by US hedge-fund manager Kyle Bass. Mr. Bass is famed for his successful bet against the US housing market in the global financial crisis of Y’s 2007-2008, so markets monitor his […]
Money Flowing Out of Emerging Market ETFs In the week ended 16 November $6.6-B flowed out of EM (emerging-market) debt, according to the data, halting 18 consecutive weeks of inflows. In the 2nd full week of November, ETFS (exchange-traded funds) that buy emerging-market securities saw withdrawals around the world worth $1.4-B. While the rising USD […]
Kirkland Lake Gold Rebuffs Gold Field’s (NYSE:GFI) $1-4-B Offer $GFI, $KGILF, $NMKTF, $SSRI This week, South Africa’s Gold Fields (NYSE: GFI) the world’s 7th-largest bullion producer withdrew an joint offer with Silver Standard Resources (NASDAQ:SSRI) to buy Kirkland Lake Gold (OTCMKT:KGILF) after the Canadian miner rejected the bid. Gold Fields (a Johannesburg-based company) said it […]
USGS Add 20-B bbls of Crude to US Reserves $USO, $UNG The Permian Basin of West Texas and southeastern New Mexico is one of the oldest and easily most productive oil regions in the country. The 1st Crude Oil was produced there in Y 1931, and the Permian has produced more than 28-B bbls of […]
Aramco IPO to Reveal Extent of Saudi Crude Oil Reserves Khalid al-Falih said 3rd parties would independently verify “reserves” disclosed to investors The planned listing of state-owned Oil giant Saudi Arabia will include information on the extent of the Kingdom’s reserves, according to reports. Saudi energy minister Khalid al-Falih said the IPO (initial public offering) […]
Lithium Miners are Setting Out to Tap New Reserves $TSLA The Electric Vehicle (EV) is here, there is no going back now As I have said in the pas Lithium is the new fuel, but the reserves the miners are currently tapping into are finite, and investors can take to the bank. The Big Q: […]
The World’s Central Bankers are Buying Gold $GLD Friday, Gold regained the 1,300 oz mark on concerns about the outcome of the US elections and the NFPs data that could set the pace of Fed interest rate hikes in the US. YTD Gold is up more than 20% in price, thanks mainly to investors in […]
China’s Forex Reserves Fell in July, Gold Reserves Up $CNY, $USD, $GLD China’s Forex (foreign exchange) reserves fell to $3.20-T in July, central bank data showed Sunday. Economists polled predicted Forex reserves would fall to $3.20-T from $3.21-T at the end of June. China’s reserves, the largest in the world, fell by $4.10-B in July. […]
GCC States See Record Oil & Gas Drilling As Rest Of World Falls Behind $OIL, $USO, $BHI The Arabian Peninsula accounts for nearly 30% of all active Crude Oil and Nat Gas drilling rigs outside of the US A record number of rigs are drilling for Oil & Gas on the Arabian Peninsula even as […]
