Gold Hoarding, COVID-19, and the $2,000 Per Ounce Gold Mirage

The hair triggers are set. And this time, I’m not talking about guns. I’m talking about the gold hoarders. As a gold refiner, it is my privilege to talk to gold businesses every day. I’ve found that all over the country, people holding precious metals are waiting for “X” price before they sell. Lately, X… Read More »

Merger Brings Optimism Back to the Gold Market

All eyes in the precious metals industry are on the mega-merger  between mining giant Barrick Gold Corp. and rival Randgold Resources Ltd. The all-share deal, announced yesterday, will make Barrick into the world’s largest gold company by production when the deal closes in the first quarter of next year. Markets reacted positively to the news, with… Read More »

Weaker Dollar = Corporate Profits Rising = Bullish for GOLD

The Wall Street Journal printed a piece this morning recapping how the S&P 500 rose 14% in the first three months of the year with the second quarter earnings on pace to climb roughly 9%.   In the precious metals industry typically the declining dollar means bullish for GOLD.  In this morning’s piece various corporations comment… Read More »

Government ban on the export of gold and copper concentrates

Read an article today about “Golden Handcuffs” in the Economist.  Apparently this ban on exporting gold & copper concentrates went into effect back in March. It is a serious stand-off that is certain to affect the supply and demand of gold in the US. https://www.economist.com/news/business/21723427-row-raises-concerns-mining-firms-across-africa-tanzanias-firebrand-leader-takes-its

How illegal gold mining affects you

Over the past few months we have heard of precious metals refiners closing down over violations to the Dodd-Frank legislation.  Dodd-Frank as many of our readers know requires most larger companies to practice due diligence to ensure that any gold coming from certain countries is sourced properly. When refiners don’t comply with the legislation there… Read More »

Should you hold your gold?

We are constantly getting customer calls into the refinery asking for advice – “Should we sell our gold and other precious metals? How will the Presidential election effect the gold price? What will the actions of The Fed have on metals?” Many times what historically has happened just simply isn’t the case.