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Did you know you can now buy and sell gold on Amazon? That’s right, Bezos has started a new virtual gold transaction tool—you can read about it in today’s Gold & Silver Central news. Also, we have additional precious metal news, from Venezuela to Omaha Nebraska. Did you know Warren Buffett was heavily investing in silver back in the 1990s? All this and more news to dive into.
Let’s dig in…

Latest News
You Can Now Buy/Sell Gold on Amazon—Here’s How
Seattle tech giant Amazon has launched a virtual gold buying and selling option called “Gold Vault.” This move creates direct competition with Paytm, PhonePe, Mobikwik, ET Money, and Google Pay digital services. Users can buy and sell the virtual gold-stock any time at the latest price, which gets refreshed every 5 minutes. Users can be accessed under the Insurance category of Amazon Pay on the main app. An Amazon Pay spokesperson said, “We believe in innovating on behalf of our customers to create newer experiences for them. This has led to Amazon Pay launching digital gold services in partnership with Safegold.” While the gold can be purchased in multiple transactions of any denomination and…
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International
Venezuela Central Bank Gold Reserves Fall to Lowest Level in 50 Years
The Central American country of Venezuela has seen its gold reserves fall by seven tons during H1 of 2020, and is now at 98 tons, which is the country’s lowest level in 50 years, according to data published on Monday by the nation’s central bank. The central bank was maintaining reserves around 350 tons until 2015, when economic challenges forced the cash-strapped country to start using gold as a collateral for loans.
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Commentary
With Gold Soaring, Will High Inflation Be Next?
People have been asking Gary Halbert of Halbert Wealth Management what he thinks about the gold price surge over the summer, and the follow-up question he is also hearing a lot: does gold’s surge mean inflation is about to spike? In this article, Halbert address these questions, and he also dives into the area of unemployment fraud. Halbert claims fraud and abuse is rampant within the government’s unemployment insurance program—which offered $600 per week in bonus payments, thus paying over two-thirds of the unemployed more to sit at home than to go back to work. READ HIS CONTROVERSIAL COLUMN ([link removed])
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Commentary
Can You Stomach Silver Volatility?
When investing in silver, there are some risks involved that are not for the fainthearted. Yes, silver has outperformed gold, but that makes the grey metal a riskier investment when you factor in the smaller market size and relatively lower liquidity, which does help silver outperform gold on the upside, but these factors are also responsible for the sharper drawdowns in silver prices. The grey metal is the only precious metal with a leptokurtic distribution—a distribution type that has fatter tails than a normal distribution. The fatter tails here suggest higher probabilities of extreme outcomes. With silver, you are getting a high risk—high return asset. Yes, there is some benefit to adding in silver to your portfolio, but with the higher risk associated with the metal, silver is probably better for trading in and out of than for strategic allocation in a portfolio.

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Latest News
Gold Price Could Continue to Drop as Fed Stimulus Hopes Fade
Gold prices continue to swoon, and the U.S. dollar rises just minutes after the July FOMC policy meeting signaled the central bank is in no hurry to expand its stimulus toolkit. Traders are speculating that the rate-setting committee may graduate to a yield curve control regime. This would indicate setting a cap on a bond yield of some target maturity and committing to defend it in the open market. Fed Chair Powell and the board as a whole are seemingly of another mind, opting to lean on forward guidance and… READ MORE
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Investor Focus
Warren Buffet’s History with Silver
Did you know Warren Buffet, leader of Berkshire Hathaway, made a big bet on silver in the late 1990s? Over on the Guru Focus blog, Stepan Lavrouk does a deep dive into Buffet’s history with silver trading. The Oracle of Omaha has publicly made claims that he avoided precious metals because “they don’t pay a dividend.” But that was definitely not the case during the second Clinton Administration. To understand why Buffett went out of his way to invest in silver, we need to look… READ MORE ([link removed])
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