Billionaire hedge-fund managers John Paulson and Ray Dalio kept their faith in gold even as rising interest rates trim the metal’s gains.
It looks to be another boom year for gold.
The good news is that the stock market party may not be over. The bad news is that it might be time for last call.
Huffington Post Italia leaked a government proposal late Tuesday showing that populist parties had drafted plans to ask the European Central Bank for debt forgiveness of €250 billion ($300 billion).
The European Union is planning to switch payments to the euro for its oil purchases from Iran, eliminating US dollar transactions, a diplomatic source told RIA Novosti.
The geopolitical risk premium in oil has driven crude prices to nearly four-year highs and shows no signs of abating.
Net central bank purchases totalled 116.5t in Q1, 42% higher y-o-y and the highest Q1 total since 2014.
Thieves siphoned hundreds of millions of pesos out of Mexican banks, including No. 2 Banorte, by creating phantom orders that wired funds to bogus accounts and promptly withdrew the money, two sources close to the government’s investigation said.
The world’s first state-backed digital currency ‘el petro’ launched by Venezuela this year to circumvent US sanctions is reportedly getting help from a Russian bank.
Against growing crude prices gold is significantly cheap and presents a good buying opportunity, according to Leigh Goehring, managing partner at New York-based firm Goehring & Rozencwajg Associates.