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21.09.26 - 04:06
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As Chinese consumption of gold jewellery slumps 34%, sellers look to markets abroad: WGC (SCMP)
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Chinese gold jewellers are seeking opportunities in the Middle East and India with their advanced crafting technologies, as the industry struggles amid gold price volatility, the World Gold Council (WGC) says.
At the most recent Jewellery & Gem World Hong Kong fair, buyers from the two regions accounted for most of the visitors, said Wang Lixin, China CEO of the WGC, the international association for the gold industry, in a recent interview with the South China Morning Post.
The interest was......
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19.09.26 - 20:12
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Gold At $155,000 An Ounce (ZeroHedge)
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Gold At $155,000 An Ounce
Submitted by QTR's Fringe Finance
The fellas over at Zero Hedge put up a Tweet last week that floated a wild monetary thought experiment: they said Treasury Secretary Scott Bessent could theoretically “buy back” our roughly $40 trillion in U.S. government debt using cash from the Treasury General Account.
There would just be one small detail standing in the way…the government would first have to re-mark its gold reserves to somewhere around $155,000 per ounce.
If you're not familiar with the concept, it probably sounds outright insane. But the basic idea is actually simple, and once you follow it through to its logical conclusion, things get interesting pretty quickly.
The United States owns roughly 261.5 million ounces of gold, giving it the largest official reserves in the world. Yet the government still carries that gold at a statutory price of just $42.22 per ounce, even though gold trades at about 100x that price.
At $42.22, the government's entire gol...
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