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As China’s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. See Pressure on China central bank for bigger yuan depreciation. Chinese citizens, meanwhile, are anxiously awaiting tomorrow’s […]

Along with the currencies of most other commodity-exporting countries, the Canadian dollar has been in near-freefall lately. Gold, meanwhile, has been sucked down with the rest of the commodities complex, falling hard since 2013. But only in US dollars. For Canadians, with their weak domestic currency, gold has been behaving just fine. It’s up 17% […]

Pretty Good Day For Gold Bugs

by John Rubino on August 21, 2015 · 13 comments

The bull market that wouldn’t end finally has. In a brutal day that just kept getting worse, US stocks followed Asia and Europe into the deflationary vortex. Whether this was just a speed bump on the road to infinite financial asset valuations or the return of sanity to a previously-insane world remains to be seen. […]

Another Week, Another Chinese Gold Mine

by John Rubino on June 25, 2015 · 17 comments

Though the true amounts are debatable, it’s generally conceded that China is importing a lot of gold. What’s not included in this calculation — but should be — are the deposits its mining companies are acquiring overseas. This gold-in-the-ground is just as much a national monetary asset as is metal accumulated by Chinese investors and […]

The splash that BitGold made recently by buying GoldMoney led many (including this writer) to assume that the Canadian start-up was pioneering the gold-backed currency space. But it turns out that Peter Schiff’s Euro Pacific Bank already allows non-US customers to buy gold and/or silver, store it for free with Australia’s Perth Mint, and then […]

Is This Gold’s Long-Awaited Killer App?

by John Rubino on June 8, 2015 · 12 comments

Gold bugs around the world got a shock a few weeks ago when a tiny Canadian start-up called BitGold bought venerable GoldMoney, the second biggest (after BullionVault) precious metals storage firm. Now come the questions. Is this a case of a flashy tech company using its temporarily-inflated stock to buy real assets, a kind of […]

The past few years have been brutal for the gold miners, most of which brought it on themselves by starting new, high-cost mines just in time for the metal’s price to crater. The resulting write-downs and operating losses have made this without question the most unloved sector in the whole market. The consensus among analysts […]

Apple’s iWatch and Some Crazy Gold Numbers

by John Rubino on March 3, 2015 · 16 comments

As Apple starts selling its new smart watch there are some, well, crazy-sounding predictions circulating about the amounts of gold the company might soon be buying. The math goes like this: Each gold version of the watch will contain around two ounces, and the company might sell 10 million of them a year, mainly to […]

Gold In A Negative Interest Rate World

by John Rubino on February 12, 2015 · 33 comments

Global capital is looking for a place to hide. But after decades of enthusiastic currency creation and financial engineering, there’s way too much of it for any one country to accommodate. This mismatch between money knocking at the door and available space is leading the handful of remaining safe havens to put up “no vacancy” […]

Today the European Central Bank acknowledged that the currency it manages is being sucked into a deflationary vortex. It responded in the usual way with, in effect, a massive devaluation. Eurozone citizens have also responded predictably, by converting their unbacked, make-believe, soon-to-be-worth-a-lot-less paper money into something tangible. They’re bidding gold up dramatically. So after falling […]

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