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Friday, November 22, 2024

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Indian Gold Demand Strong During Diwali, Despite Record High Prices

(Mike Maharrey, Money Metals News Service) Indian gold demand held up during the Diwali season despite surging prices, as festival buying was boosted by strong investment demand. Diwali is the Hindu festival of lights. It is considered an auspicious time to buy gold, and many Indian couples choose to get...

NYT Details Stunning Harris Campaign Expenditures: $100M Per Week

(Ken Silva, Headline USA) In the wake of Vice President Kamala Harris’s failed 2024 presidential election run, numerous observers expressed bewilderment at how her campaign could have spent a reported $1 billion in about 15 weeks. But it turns out, that $1 billion estimate was incorrect. The Harris campaign actually...

Biden Admin. Kicks Off FY2025 w/ Yet Another Big Budget Deficit

(Mike Maharrey, Money Metals News Service) After running the third-largest budget deficit in history in fiscal 2024, the Biden administration kicked off fiscal 2025 in a similar manner. The federal government ran a $257.45 billion budget shortfall to start the new fiscal year, with revenue down and spending up, according to the latest...

Gold-Backed or Bust: Judy Shelton’s Plan to Tame the Fed and Restore the Dollar

(Paul D. Mueller, Money Metals News Service) Judy Shelton has spent her career advocating for sound money. Her latest book, Good as Gold: How to Unleash the Power of Sound Money, makes an up-to-date case for reinstituting a gold standard. Her intriguing conclusion is that the dollar can be reconnected to...

Industrial Silver Demand on Pace to Set a New Record

(Mike Maharrey, Money Metals News Service) Industrial demand for silver is on track for a new record high in 2024, and the silver market is on pace for its fourth consecutive annual supply deficit.  According to the latest projections by Metals Focus for the Silver Institute, record industrial offtake, along...

Gold, Silver, and Laughs: Mike Maharrey Answers Your Precious Metals and Fun Questions!

(Money Metals News Service) In this unique “Ask Mike Anything” edition of the Money Metals Midweek Memo podcast, host Mike Maharrey tackled a wide range of audience questions on critical topics surrounding sound money, precious metals, inflation, and broader economic dynamics. Here’s a comprehensive summary of each question asked and...

CNN to Lay Off Hundreds of Employees after Denying Top Stars Raises: REPORT

(Julianna Frieman, Headline USA) CNN is poised to lay off hundreds of employees in a post-election purge, Puck News first reported on Friday. This comes as former Fox News host turned CNN anchor Chris Wallace announced Monday his departure from the network. Senior CNN talent, including Jake Tapper and Wolf Blitzer were...

Here’s What’s Going on With Gold & Silver

(Jesse Colombo, Money Metals News Service) Gold fell 2.42% today in continuation of last week’s price action. Gold is experiencing a normal pullback after its whopping 50% rise this year. I'm not worried one bit. I'm now watching $2,600 in COMEX futures and the uptrend line as key support levels....

Gold Demand in Tech and Industry Up in Q3

(Mike Maharrey, Money Metals Exchange) Gold is fundamentally money, but there is demand for the yellow metal in industry and technology.  Industrial and tech demand accounted for 83 tons of gold in the third quarter, a 7 percent year-on-year increase. It was a 2-ton increase quarter to quarter. So far, in...

California’s New Gas, Diesel Fees to Boost Prices Nearly $0.50 a Gallon

(Kenneth Schrupp, The Center Square) Despite a rising tide of Democratic opposition and the majority of California counties voting for president-elect Donald Trump, California regulators voted to pass an estimated $105 billion in EV charging credits and $8 billion of hydrogen credits largely paid for by fees on gasoline...

India Brings More Gold Home for Safe Keeping

(Mike Maharrey, Money Metals News Service) India has brought more of its gold home. Last spring, the Reserve Bank of India repatriated 100 tons of gold, moving it from the UK to vaults within India's borders. According to a report by the New Indian Express, the RBI recently moved another 102 tons...

The Metals Get Mauled

(Brien Lundin, Money Metals News Service) A clear-cut win by Trump negates the risk of political turmoil and sends gold and silver plunging. But this bull market was never built on geopolitical risk — it’s a decades-long trend of ever-easier money and ever-greater debt that has sent gold to record heights. The markets...
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