Commodity Trade Mantra

Posts Tagged ‘Gold Refiners’

A Weak Dollar = Higher Inflation & Higher Gold Prices - So What does the Fed Want?

A weak dollar is the Fed’s only chance for more inflation. The way to get a weak dollar is to delay rate hikes indefinitely, and that’s what I believe the Fed will do. And a weak dollar means higher gold prices. Central banks are determined to get more inflation and will flip to easing policies if that’s what it takes. Get ready for an explosion to the upside in the dollar price of gold.

The Big Question now is - Where does Gold go from Here?

Gold has held its own despite higher interest rates and threats of more. That tells me we’re seeing a flight to quality, meaning people are losing confidence in central banks all over the world. They realize the banks are out of bullets. So gold has been moving up in what I would consider a challenging environment of higher rates. The question now is, where does gold go from here?

Surge in Smuggled Gold Hits Indian Gold Refiners, Gold Jewelers & Banks

Smuggled gold could account for over a third of demand this year in India – the world’s second-biggest buyer of gold – potentially costing the government over $1 billion in lost revenue. Gold refiners have less than a 1% margin. If smugglers offer 4 or 5% discounts, they have no choice but to close operations. All 32 refineries in the country have stopped buying dore until market conditions normalize.

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