◆ The global economy was flashing danger signs long before the pandemic…
◆ For one thing, many countries were clamouring to get hold of as much gold as possible.
◆ For the past decade they have been buying new reserves and bringing it home from overseas storage to an extent never seen in modern times. Then just before the pandemic, there was a pause.
◆ Central banks added 650 tons to their reserves in 2019, the second highest shift in 50 years, after the 656 tons added in 2018. Before the 2007-09 financial crisis, central banks were net sellers of gold worldwide for decades.
◆ Leading the recent spree has been China, Russia, Turkey, Kazakhstan, and Uzbekistan.
◆ We have also seen a large effort by central banks to repatriate their gold from other countries, mostly from storage in New York and London…
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NEWS and COMMENTARY
Gold falls 0.4% in USD as potential Japan stimulus boosts risk appetite
Japan eyes fresh $930 BILLION stimulus
French government’s crisis measures have cost 450 billion euros – finance minister
Dollar on front foot as worries about Hong Kong stir risk aversion
Slump in consumption, exports push Germany into recession in first quarter
Russia Proposes Law That Criminalizes Buying Bitcoin With Cash, Face 7 Years in Jail
“Land Of The “Free”? Stashing Gold May Be Illegal Soon
GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)
22-May-20 1732.45 1733.55, 1421.99 1423.59 & 1588.83 1590.71
21-May-20 1732.80 1724.90, 1417.78 1410.45 & 1580.49 1571.04
19-May-20 1735.25 1737.95, 1416.14 1418.34 & 1584.11 1589.01
15-May-20 1734.85 1735.35, 1422.06 1427.67 & 1604.39 1602.60
14-May-20 1716.40 1731.60, 1403.67 1420.09 & 1587.84 1603.98
13-May-20 1699.85 1708.40, 1383.85 1394.74 & 1568.11 1573.09
12-May-20 1703.45 1702.40, 1381.84 1379.80 & 1574.50 1565.87
11-May-20 1698.80 1702.75, 1375.35 1378.55 & 1570.20 1571.81
07-May-20 1688.65 1704.05, 1366.29 1387.78 & 1565.21 1582.38
06-May-20 1698.90 1691.50, 1373.56 1366.73 & 1574.71 1564.13
05-May-20 1696.30 1699.55, 1363.83 1363.72 & 1566.36 1562.91
04-May-20 1703.70 1709.10, 1371.14 1374.63 & 1558.72 1563.83
01-May-20 1673.05 1686.25, 1332.08 1347.15 & 1523.14 1536.68
30-Apr-20 1716.75 1702.75, 1373.92 1361.69 & 1577.86 1568.91
29-Apr-20 1706.00 1703.35, 1371.97 1368.64 & 1569.69 1568.10
