G-Coin®’s Post

For inquiry on Gold, Silver or Rare Coins, Call: 888-751-1933, ext. 4538 The Kobeissi Letter JUST IN: A typical gold bar now costs a record $1 million to buy. Over the past year, the value of a #gold bar weighing '400' ounces has surged by 32%. At the same time, spot gold prices closed yesterday above $2,500 per ounce and posted a new all-time high. In the first half of this year, central banks bought a net of 483 tons of gold, an equivalent of nearly 40,000 bars. Gold markets continue to trade like we are in a crisis.

Glittering Gold Gold recently surpassed $2,500/oz and has been rising rapidly since 10/22, when it traded at $1,650/oz. A major reason, central bank buying. From 1970-1988, cumulative net central bank gold purchases were roughly zero. From 1989-2009, banks were net sellers every year. Since 2010, they have been net buyers every year. Moreover, through 2020 net purchases averaged about 600 tons/year. Since then, they’ve averaged 2000 tons/year, a huge increase in demand. (Isenberg)

It is estimated that only 212,582 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950. And since gold is virtually indestructible, this means that almost all of this metal is still around in one form or another. If every single ounce of this gold were placed next to each other, the resulting cube of pure gold would only measure around 22 metres on each side. Total above-ground stocks (end-2023): 212,582 tonnes Jewellery ~96,487t, 45% Bars and coins (including gold backed ETFs) ~47,454t, 22% Central banks ~36,699t, 17% Other ~31,943t, 15% Proven reserves ~59,000t #goldmining #yearofgold #bostonresourcing

According to the #WorldGoldCouncil, around 212,582 tonnes of gold has been mined throughout history, of which around two-thirds have been mined since 1950. Almost all of that gold is still around because the metal is virtually indestructible. If every single ounce of this gold were placed next to each other, the resulting cube of pure gold would only measure around 22 metres (73 feet) on each side. 45.4% of that gold is currently jewelry, 22.3% is in bars, coins, and gold backed ETFs, 17.3% is held in central banks, and 15.0% is in other forms. Check out the World Gold Council’s website for insights on the gold market: https://lnkd.in/dDSJ3gmr

gold is gold, always buy gold for golden returns, its going up since last 5k years (ignore those active n passive fund managers voices, they are there to market their funds to increase the AUM's for a better pay & lifestyle diverting your investing from gold to funds which cant beat benchmarks) - Gold is 69 today, couple of weeks back was 65, a month back 62, few month back 59, from 55, 52, and few years back was 40. Gold is liquid and will never fail you when you need hard cash to sell. There will be ups n downs, but gold is gold (and so is silver - always buy gifts in silver, its on of the best form of gifting - gift in silver - very affordable with a resale value) #gold #silver #investment #jewelry #jewellery #india #calcutta

🕯🕯 Gold tested a resistance level at around $2,670 on Monday but recoiled. A break of $2,673, however, would bring bullish confirmation and probably lead to a continuation up to the $2,685 all-time high. A break above that would indicate a continuation to the next target at $2,700 – a round number and psychological level. 🔴 It would require a break below $2,650 to flip the uptrend and turn the short and medium-term outlooks bearish. ✨ Gold is finding support, however, from expected continued robust demand from global central banks. The precious metal has enjoyed an increase in demand from this sector over recent years as central banks hoard Gold for its safety, liquidity and as a hedge against currency devaluation.

Official world #gold reserves have reached 1,170 million fine troy ounces, the most since the 1970s. Over the last 13 years, world central banks' gold holdings are up roughly 21%. Global gold reserves are now even higher than just before President Nixon broke the US Dollar's link to gold in 1971. In 2022 and 2023 alone, world central banks bought 1081 and 1037 tons of gold, respectively. Meanwhile

gold already taken off from the runway or is it still there? Gold is unstoppable since October 2023. Technically in over bought trajectory. However, price action suggest strong buying momentum is likely to stay for longer time frame. Despite strong dollar, the yellow metal shines bright!! It has broken a longer time consolidation and in a mood to take out all the higher levels. Central banks buying globally and geo-political concerns supporting the upsurge. For short-term $2,320 emerges as a support zone and upside open for $2,450-$2,550. #gold#trading#analysis#Forex

🪙 Top news in the world of #gold! 💰 Official world gold reserves have reached 1,170 million fine troy ounces, the highest since the 1970s. Over the last 13 years, central banks have increased their gold holdings by 21%. 📈 Global gold reserves are now higher than just before the US Dollar was decoupled from gold in 1971. In 2022 and 2023, central banks bought 1081 and 1037 tons of gold, respectively. 🌏 #Gold is up 15% year to date and 85% over the last 5 years. 💰 Source: The Kobeissi Letter #GoldReserves #CentralBanks #Investment #Finance #EconomicTrends