Precious metals news

The German central bank (Bundesbank) repatriated 120 metric tons of gold in 2014. 85 of those tons came from the New York Federal Reserve, which held nearly half of Germany’s gold at the time. This is in sharp contrast to repatriating just 37 tons in 2013 – only 5 of which came from New York. It would appear that Germany is quite serious about getting its gold back after all.
At the beginning of 2013, the Bundesbank announced that it would begin the process of repatriating massive amounts of its physical gold reserves back into Germany. The goal is to have half of its gold back in Germany by 2020. Currently, nearly 65% of its reserves are stored in the New York Federal Reserve, the Bank of England in London, and in the Banque de France in Paris. New York alone holds almost 43% of Germany’s gold:

Jeff Clark of Casey Research spoke with Vanessa Colette at the Vancouver Resource Investment conference hosted by Cambridge House International. Clark explained that gold has been performing exactly as it should in the past year by rising in the price of foreign currencies that have been experiencing inflation and economic trouble. Clark emphasized that there has never been a better time in history to own gold. On top of that, he reminds us that someday the East is going to take charge of the gold trade, and they’ll do that at much higher prices than we’re seeing now.

Precious metals naysayers often fail to keep a global perspective on the economics behind gold and silver. This past week has been a stark reminder that gold is an international asset whose real, fundamental value cannot be found in US dollar terms alone. When the Swiss franc’s peg to the euro was dropped, gold surged against global currencies.
A Kitco commentary by Frank Holmes featuring a variety of currency charts makes the point succinctly. First, here’s gold in euros. Gold is up 14.3% in the past month against the euro. It’s moved nearly 6% since Switzerland decided to abandon the euro.

The SNB shock announcement seems to have happened in isolation and could mark the start of a far less accommodative stance by national central banks. This is not surprising as […]

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Bo Polny is a student of cycles.  Based upon his observations during our interview on election day in November 2014, he predicted that a major precious metals rally was starting that […]

This past week, we have seen the amazing change in Swiss monetary policy removing the franc from its peg and the result is MASSIVE, uncontrollable losses on the part of […]

If any country knows about the flow of gold it is Switzerland. They are the refining hub. Did the SNB look at the data and realize that the physical offtake […]

David Asman interviewed Peter Schiff on Fox Business on Friday. They discussed why inflation created by central banks doesn’t actually create a strong economy, but rather serves to prop up irresponsible governments. Peter also explained why the price of gold is going up even while the US dollar is rising against other currencies.

We just received word that Germany repatriated 120 tonnes of gold:  35 tonnes from Paris France and 85 tonnes from NY! We already knew that 47 tonnes was repatriated from FRBNY […]

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The Bundesbank, Germany’s powerful central bank, announced very publicly this morning the further repatriation of 120 tonnes of it’s gold being held in foreign locations – namely in Paris and New […]

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