Archive for March 2020
Coronavirus stimulus just pushed Fed’s balance sheet past $5 trillion for the first time ever
The Federal Reserve balance sheet is now at $5.3 trillion, up 12.4% over just the last week. The central bank is greatly increasing the amount of Treasurys and other assets it owns in an effort to keep markets and the economy afloat during the financial crisis. Proportionately, the biggest increase in the holdings came in…
Read MoreCoronavirus hyperinflation risk looms, buy gold: Peter Schiff
The extreme measures taken by the U.S. government and the Federal Reserve to combat the COVID-19 pandemic could push the U.S. into an episode of hyperinflation and boost gold, according to Peter Schiff. The White House and the Senate reached a $2 trillion deal early Wednesday on the third phase of a relief package that extends cash to the individuals,…
Read MoreGold-buying app sees 718% spike in volume as coronavirus volatility drives investors to havens
‘Sales are going through the roof,’ says CEO of gold app Glint CEO Jason Cozens is the founder of Glint Pay Services. Supplied by the Glint Gold-buying apps, which allow customers to buy and use the precious metal for everyday spending, are seeing record volumes as investors flock to the safe-haven commodity amid violent market…
Read MoreGoldman Sachs says it is time to buy gold — the ‘currency of last resort’
The current coronavirus-induced economic and financial market turmoil is seemingly the perfect environment for gold. “We have long argued that gold is the currency of last resort, acting as a hedge against currency debasement when policy makers act to accommodate shocks such as the one being experienced now,” said analysts at Goldman Sachs led by…
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