Price
Gold Gains Traction After Breaking Above $1800 in Early American Session

Gold rose to fresh daily highs near $1810 while the U.S. Dollar floundered again for a second straight day, while Wall Street’s main indexes traded in positive territory. The inverse correlation between the US Dollar Index (DXY) and Wall Street continued on July 14th. The poor start to the day in major equity indexes in the U.S. helped the DXY rebound to…

International
Here’s a list of the top nations that produce maximum gold, 2020—China sits atop the list

The yellow metal is mined around the globe, on every continent (except Antarctica), and the variety of mines is extensive when it comes to types and scale. Making up about 0.003 parts per million of the earth’s crust, gold is a rare element. So, how much gold is the world digging up each year and which countries produce the most? With gold providing a hedge against the uncertainties of the economy, serious investors will want to see this list which demonstrates the geographical dispersion of gold mining operations and gold supply.

SEE THE LIST OF TOP GOLD PRODUCING NATIONS

Latest News
Swiss Company Launches a Precious Metals Backed Stablecoin onto Blockchain

Swiss company AgAu has announced their release of a new stablecoin that is backed by regular money or commodities to provide a better control of price fluctuations than bitcoin—one example of a cryptocurrency whose value depends strictly on its demand level. Stablecoins are in vogue now, so AgAU has caught the attention of investors…how it works is AgAU stores the physical gold and silver in Switzerland and then sells customers tokens—each one is a digital contract that grants the bearer direct ownership rights to one gram of either precious metal. These tokens will be freely traded with the transactions recorded on the Ethereum blockchain. Founder and former commodities trader Arys Ruiz says the system will… READ MORE

Commentary
Dear Bullion Banks, Please Come Back!

Keither Weiner over on the Monetary Metals website asked the question, “Where have the bullion banks gone?” With the trend of bullion banks leaving the market, Weiner says the gold markets are being impacted with increased inefficiencies. You can read what he says about the fallacy of the efficient market hypothesis, how efficiency affects gold prices, the early signs of an inefficient market, and why we need the new market makers. READ ENTIRE COMMENTARY HERE

International
Chinese Jewelry Company Caught in Scandal Defaults on Loans, Lays Off Staff

Last week we shared with you the news about gold processor Kingold Jewelry Inc. and their scandal involving phony gold bars used as collateral…what’s new is the company is continuing to have newsworthy problems—for example, the company just disclosed that Wuhan Kingold Jewelry Co. Ltd, a contractually controlled affiliate of the Nasdaq-listed company, has defaulted on about 10 billion yuan ($1.4 billion) of loans borrowed from seven financial institutions, according to a company Nasdaq filing last week. READ MORE

Latest News
This ‘Doomsday’ Hedge Fund Predicts Gold Will Surpass $3,000 an Ounce