by Peter Schiff, Schiff Gold:
After setting a record through the first half of the year, central banks continued to gobble up gold in the third quarter.
Globally, central banks added a net 337 tons of gold in Q3, the second-highest third-quarter total on record behind 2022.
Through the first nine months of the year, central banks bought a net of 800 tons of gold. That’s 14% more than through the same period in 2022.
by Craig Hemke, Sprott Money:
What a crazy month this has been for gold prices. In a complete reversal from where prices began the month, we’re set to finish October on Tuesday with a big green candle on the monthly chart. What, if anything, does that signify? Let’s discuss that today.
The month of October began just four weeks ago, but it seems much longer than that. Geopolitical events and the worsening conflict in the Middle East have made October feel like the longest month of the year. Looking back, do you even recall how poorly COMEX gold was trading as the month began?
by Wolf Richter, Wolf Street:
Including $1.56 trillion in Q4 2023 & Q1 2024 combined. Government has gone nuts.
The US government is borrowing such huge amounts to fund its gigantic and reckless deficits that the whole world is paying attention. The Treasury Department’s Quarterly Refunding announcements are normally greeted with a global meh, but under the current tsunami of new issuance of debt, it has turned into a hot button.
by Jesse Coghlan, Coin Telegraph:
During a panel at the 2019 MIT Bitcoin Expo, Gensler called out the securities regulator for its “inconsistent” approach to spot Bitcoin ETF approvals.
Gary Gensler once criticized the United States securities regulator for its “inconsistent” approach to spot Bitcoin
The video clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a fireside chat with United States Securities and Exchange Commission Commissioner Hester Peirce.
by Mark E. Jeftovic, Bombthrower:
What we now call “The Cantillon Effect” was known far back as circa-1730, by at least one economist. It hasn’t been taken very seriously in modern times, especially here in the fiat age.
Named after its author, Richard Cantillon, in his “Essay on Economic Theory” (“Essai sur la Nature du Commerce en Général”) — it is his only surviving work and was published posthumously in 1755, more than 20 years after he was murdered by a former cook whom he had dismissed from his household. The disgruntled ex-employee, returned by night, robbed his home, then set it ablaze, with Cantillon — and the rest of his manuscripts, within.
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED UP $2.90 TO $1983.90 //SILVER WAS DOWN 14 CENTS TO $22.76//TODAY ENDS COMEX EXPIRY WITH THS COMING TUESDAY BEING OPTIONS EXPIRY FOR LONDON/LBMA/PLATINUM WAS DOWN $3.55 TO $905.35 WHILE PALLADIUM WAS UP $12.10 TO $1134.95//BEIJING FLOODING THE USA MARKET WITH SALES OF USA TREASURIES//ECB PAUSES ON ITS RATE HIKES AS EXPECTED//LAST NIGHT ISRAELI’S DID A MINOR EXCURSION INTO GAZA CLEARING OUT MAJOR PROBELMS LIKE BOMBS, BOOBY TRAPS AND ELIMINATING SOME HAMAS OPERATIVES//OTHER ISRAEL-HAMAS UPDATES//COVID 19 UPDATES//VACCINE UPDATES//DR PAUL ALEXANDER//SLAY NEWS //NEWS ADDICTS//EVOL NEWS//ANOTHER MASS SHOOTING IN THE USA (MAINE) WHERE 18 ARE CONFIRMED DEAD AND SHOOTER STILL AT LARGE
from Birch Gold Group:
This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold hits 5-month high, Middle Eastern gold trends, and there’s a rate hike cycle going on, remember?
It’s not the most accurate thing to say, perhaps, from a technical standpoint, as gold has seesawed across that level quite a bit over the last three years. But in that time, there were three spectacles that brought gold to $2,000 from various sideways trades. Those were the lockdowns, the Russia-Ukraine war and now the conflict between Israel and Hamas.
from SGT Report:
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by Michael Maharrey, Schiff Gold:
Are the Chinese selling US dollar-denominated assets to buy gold?
It sure looks that way.
Chinese investors sold $21.2 billion in US assets in August alone – primarily US Treasury bonds. Meanwhile, the Chinese government has been buying gold at a steady pace.
Writing at FXEmpire, analyst Vladimir Zernov said there are two dynamics driving the Chinese to sell US assets.
by Pam Martens and Russ Martens, Wall St On Parade:
The Dow Jones Industrial Average of 30 big-cap stocks closed out last year on Friday, December 30, 2022 at 33,147.25. After setting a year-to-date low of 31,819.14 on March 13 of this year during the banking crisis (a negligible decline of 4 percent year-to-date), the Dow climbed its way back to a year-to-date high of 35,630.68 on August 1. Since then, the Dow has been setting sharply lower lows – a sign of deterioration in its components. The Dow again went negative year-to-date last Friday, October 20, closing at 33,127.28.
