|
Happy Tuesday!
In today’s precious metals news, we find a well respected bank making bullish predictions on the future price of gold. In a separate article, this same bank also predicts silver hitting a new record high by December of this year. We also have a gold commentary from a Texan who has a cult following and he has ran for President three times.
Let’s dig in…
Price
Citi Says Gold Will Soon Hit New Record High
The 2011 record for gold prices will not be standing much longer, according to Citigroup Inc. “Nominal gold prices have already posted fresh records in every other G-10 and major emerging market currency this year,” said the Citigroup analyst. “It is only a matter of time for fresh highs in U.S. dollars,” they said. Prices are benefiting from loose monetary policy, low real yields, record inflows into…
READ MORE
Stock Market
Silvercorp Metals Stock Rose 10% on July 17 – Here’s Why
Here is the skinny on what happened the morning of July 17: shares of silver miner Silvercorp Metals (NYSEMKT: SVMLF) jumped about 10%. What put investors in a chipper mood was the fact that Silvercorp announced some exciting first quarter production numbers: fiscal first-quarter 2021 production was 1.8 million ounces of silver, 20.1 million pounds of lead and 7.5 pounds of zinc. The company went on to say they are “on track to produce between 6.2 to 6.5 million ounces of silver, 66.1 – 68.5 million pounds of lead, and 24.5 to 26.7 million pounds of zinc in Fiscal 2021,” which is in line with earlier guidance. That’s solid news for a company that mines a metal that is seeing rising prices these days. Also, the report also pointed out that the miner’s silver production…
READ MORE
Video Commentary
Ron Paul: Is Gold a Barbarous Relic or Friend of Liberty? (And Will Confiscation Happen?)
Former Congressman Ron Paul is a smart man—a career medical doctor, Dr. Paul served in the private sector for decades before taking his principles of liberty to the U.S. Capitol, where he served in the House of Representatives for 24 years. Dr. Paul has also been a longtime advocate for gold ownership. He calls gold the “ultimate international currency” and in this video he talks about why the decisions of the Federal Reserve are turning more people on to yellow metal. WATCH VIDEO
International
India Drops Gold Imports By 94% in April-June
Golden Detour: The Hidden Face of the Gold Trade Between the United Arab Emirates and Switzerland
Get this free eBook on the gold trade between these two countries:
GET FREE EBOOK
Price
Silver Heading to $25 an Ounce By December 2020
With Silver prices jumping to its highest levels since September last year, traders reacted to the latest upgrade by Citigroup. The metal is trading at $19.45, which is its highest level since 2019. This surge reflects a gain of more than 71% from its lowest point in March… READ MORE
International
Russia Boosts Gold Stockpile 28% & International Reserves by Over 10%
In 2018, Russia shifted its investment strategy to offset the US dollar’s shares decrease. So, they began stockpiling gold as the yellow metal slowly replaced the greenback as a significant component of Russia’s assets used in its interactions with other countries. The Russian Central Bank’s latest report shows that the country has seen significant increase in their international reserves, both since the beginning of this year and since July 2019. The reserves have grown to $574.2 billion—an $18.2 billion, or 3.27% increase since… READ MORE
Thanks,
Gold Silver Central
|
