PBOC halts gold buying spree, prices drop over $50/oz By Investing.com – Investing.com
Investing.com — The People’s Bank of China (PBOC) reported no change in its gold reserves in May in data released Friday, bringing to an end a year-and-a-half-long gold-buying frenzy. The rally that saw gold prices reach new record highs was dependent on central bank purchases, particularly from China, which caused the price of gold to […]
NJ businessman Jose Uribe testifies that he bribed ‘Gold Bar Bob’ Menendez with a Mercedes-Benz
A New Jersey businessman testified Friday that he bribed Sen. Bob Menendez, telling jurors in the state Democrat’s federal corruption trial that he offered the lawmaker’s wife a Mercedes-Benz to drop a criminal investigation. “She agreed to the terms” Jose Uribe He spoke to the U.S. District Court in Manhattan. In March 2019, Nadine Menendez […]
Gold Prices Rise as the Dollar Slowly Dies
The money supply is rising again, and persistent price inflation is not a surprise. Price inflation occurs when the amount of currency increases significantly above private sector demand. For investors, the worst decision in this environment of monetary destruction is to invest in sovereign bonds and keep cash. The government’s destruction of the purchasing power of the […]
Son of ‘Gold Bar’ Bob Menendez survives tough NJ Democratic primary despite father’s trial
Rep. Robert Menendez Jr. still has his hands in gold. Menendez Jr. overcame the pressures of his last name to win a tough primary against Hoboken Mayor Ravi Barra in the Garden State’s 8th Congressional District and secure the Democratic nomination for a second term in Congress on Tuesday. Rep. Rob Menendez handily won the […]
Democrat Andy Kim wins NJ Senate primary in race to replace ‘Gold Bar’ Bob Menendez
Rep. Andy Kim (D-N.J.) won the New Jersey Democratic Senate primary on Tuesday and will advance to the general election to unseat Sen. Bob Menendez (D-N.J.), who was indicted in November. Kim defeated his Democratic opponent and won with 82% of the vote. “Just saw the news,” Kim wrote to X after the Associated Press […]
A bullet-riddled gold wall, fountain of a man urinating comprise artist Cattelan’s latest piece
Italian artist Maurizio Cattelan’s latest installation, “Sunday,” is on view at the Gagosian Gallery in New York City. The work of art is a 17-foot-tall, 68-foot-wide wall made of 64 stainless steel sheets plated with 24-karat gold and scarred by 20,000 bullets. Visitors have described the piece as a shocking critique of American gun culture, […]
Snap up gold ETF ahead of potential interest rate cuts as deficits persist, market pro says – CNBC
According to Larry Tentarelli, chief technical strategist and founder of Blue Chip Daily Trend Report, gold is a smart investment idea as government budget deficits grow, and interest rate cuts are likely to be an additional tailwind. Gold has risen as a safe haven, in part due to the widening of the U.S. government’s budget […]
‘Gold Bars Bobby’ Menendez to File as Independent in Bid to Keep Senate Seat
Sen. Bob Menendez (D-NJ), who is facing federal corruption charges, will run for a fourth term as an independent in the U.S. Senate, according to the New Jersey Globe. The longtime Democratic Party official from the Garden State is set to announce his candidacy today after gathering enough signatures to qualify as an independent candidate. […]
Gold Prices Forecast: Will Fed's Caution Continue to Cap Gains, Weaken Prices? – FX Empire
U.S. Inflation Reporting and the Impact of Federal Reserve Policy The personal consumption expenditures (PCE) price index, released on Friday, rose 0.3% in April, as expected, and 2.7% annually. Though it met expectations, the data showed inflation still running above the Federal Reserve’s 2% target. Fed officials have repeatedly said they need several months of […]
Bitcoin to be worth 100 oz of gold, says veteran trader Peter Brandt – Cointelegraph
Veteran trader Peter Brandt recently released his Bitcoin (BTC) price prediction, claiming that the decentralized digital asset will surge 230% against gold. Brandt argued that the gold-to-BTC ratio will fluctuate over the next 12-18 months, eventually reaching a new high of 100 ounces of gold per BTC. sauce: Peter Brant While it remains to be […]