China’s gold market not immune to a wider downturn

As the Chinese economy continues to be disrupted by the outbreak of the novel coronavirus and parts of China’s economy come to a virtual standstill, it would be unrealistic to expect that the Chinese gold market, the world’s largest, will not be adversely impacted. From quarantined cities to lower consumer […]

Eight centuries of interest rates – JP Koning – BullionStar

Peter Schiff has called negative interest rates an absurdity, Kevin Muir thinks they are an abomination, and ex-Credit Suisse CEO Oswald Gruebel thinks they are crazy. But is today’s negative interest rate environment really so strange? To understand the present, it always helps to step back and get the bigger picture. […]

The shrinking window for anonymous exchange

To help reduce money laundering, Germany has reduced the amount of gold that can be purchased anonymously to €2000. Are limits such as this one justified? Powered by WPeMatico

German Government Escalates its War on Gold

In a brazen attack on precious metals and economic freedom, the German government has just introduced draconian new rules on buying precious metals. Brought in with zero evidence under the guise of money laundering prevention, short term it created panic gold buying by Germany’s population but long term it’s a […]

LBMA claims record amount of gold in London’s vaults

By Ronan Manly – January 4, 2020 This week the LBMA in London claims that a record 8,228 tonnes of gold is held in the London vaults, vaults which include those at the Bank of England and the commercial vaults of such bullion banks as JP Morgan and HSBC. But […]

A new era of digital gold payments systems?

Ever since the internet emerged in the 1990s, entrepreneurs have been trying to created digital gold payments networks. But these efforts haven’t garnered much success. Will the newest push, so-called “blockchain gold,” make digital gold payments more popular? Continue reading…   Powered by WPeMatico

Quantum leap for banks as ABN AMRO questions gold price discovery

By Ronan Manly Earlier this week, an interesting article appeared on the website of the major Dutch bank ABN Amro, written by the bank’s currency and precious metals strategist, Georgette Boele. The article, titled “A world with two gold prices?“, questions how, if gold is a safe haven asset, its […]

Behind enemy lines – Military use of gold coins as emergency money

By Ronan Manly Gold is and always has been universal money that can be used anywhere and is accepted everywhere. This is especially true behind enemy lines. Recently, while researching for the article “The Power of gold in time of Crisis” (which covered examples of gold being the ultimate asset […]

Polish central bank airlifts 8000 gold bars (100 tonnes) from London to Warsaw

In early July, BullionStar covered the notable news from Poland’s central bank, that it had boosted its monetary gold reserves to 228.6 tonnes by buying 125.7 tonnes over the 2018-2019 period, with a staggering 100 tonnes of this total purchased at the Bank of England in London during the first […]

Life under a gold standard

Consumer prices react differently under a gold standard and a fiat standard due to the relative flexibility of each system. What would it be like living under a gold standard? Here are a few (but by no means all) of the features that would characterize it: Banknotes, up until now […]

New COMEX Pledged Gold – Shrinking the Pool of Registered Inventory

CME now allows COMEX gold warrants to be pledged as clearing collateral, a move that is sure to shrink an already tiny pool of registered gold inventory. Powered by WPeMatico

Chinese central bank gold buying – On a need to know basis

By Ronan Manly at https://www.bullionstar.com/blogs/ronan-manly/chinese-central-bank-gold-buying-on-a-need-to-know-basis/ After announcing monthly gold purchases for ten straight months between December 2018 and September 2019, the Chinese central bank, the People’s Bank of China (PBoC), has now paused buying for its strategic gold reserves. At least that’s according to October figures from the State Administration […]

The Power of Gold in Times of Crisis

By Ronan Manly (original posted at https://www.bullionstar.com/blogs/ronan-manly/the-power-of-gold-in-times-of-crisis/) While physical gold is a well-known safe haven asset which investors flock to in times of market turbulence as a way of protecting their wealth, gold is also the ultimate asset to own and possess in times of crisis and emergency. These crisis […]

Why are gold and bonds rising together?

By J. Kroning at https://www.bullionstar.com/blogs/jp-koning/why-are-gold-and-bonds-rising-together/ In a previous post I mentioned that when I first broke into the financial industry, the owner of the brokerage where I worked was a dyed-in-the-wool gold bug. Most of his portfolio was invested in gold (he even owned a gold mine) and he was […]

Wag the Dog – The new COMEX and SGE Gold Contracts

In a development whose impact is still unclear, the world’s largest gold derivatives trading venue, the US COMEX, and the world’s largest physical gold trading exchange, the Chinese SGE, have just jointly launched gold derivatives contracts, potentially binding each other into a price feedback loop. Could this be a case […]

LBMA needs reform to serve the physical precious metals market

The LBMA claims to be the global authority for precious metals, but it is an organization stacked full of bullion banks which trade gigantic volumes of synthetic paper promises, and an organization which does nothing to champion the interests of savers and investors in physical precious metals. Founded by a […]

Does anyone use the IMF’s SDR? – JP Koning – BullionStar

Last week I poked some fun at the International Monetary Fund’s special drawing rights. I claimed that no on uses them. I wouldn’t be the first to make this accusation. The International Monetary Fund (IMF) itself once described the role that special drawing rights (SDRs) play as “insignificant”. No one […]

LBMA Removes JP Morgan’s Michael Nowak from the LBMA Board – Ronan Manly

Just when you think it couldn’t get any more embarrassing for JP Morgan’s precious metals business and its embattled head, Michael Nowak, today it just did, as the powerful London Bullion Market Association (LBMA) moved to oust Nowak, who has become too toxic, from the LBMA’s board of directors. According […]

LBMA Board Member & JP Morgan Managing Director Charged with Rigging Precious Metals

Michael Nowak, JP Morgan Chase managing director and Board member of the London Bullion Market Association (LBMA) has just been charged by the US Department of Justice (DoJ) with manipulating the prices of precious metals-futures contracts over an 8 year period. Nowak sits on the LBMA Board along with LBMA […]

Rothschild emerges from the shadows for the Centenary of the London Gold Fixing

This month marks the centenary of the London Gold Fixing, with events at both Rothschild’s headquarters in the City of London and at the neighboring Bank of England. Billed as a momentous occasion by the bullion bank-controlled London Bullion Market Association (LBMA), the celebrations gloss over and conveniently forget to […]