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Russia’s new gold exchange severs London ties, challenging Western price control and signaling a seismic power shift in the global precious metals and financial order. In a transformative move shaking the bedrock of the international precious metals market, Russia is preparing to launch its own gold trading platform, decisively severing ties with the London Stock Exchange and the London Bullion Market Association (LBMA). This bold initiative signals not only a dramatic assertion of financial sovereignty, but a direct challenge to three centuries of Western dominance over global gold pricing. London: The Historical Epicenter of Gold Power To grasp the gravity...

His expedition found a “mountain of gold” at the bottom of the Atlantic. But he might never see a cent of the lost fortune. It was late in the summer of 1988 when Tommy Thompson finally located a big rusty paddle wheel buried in ocean floor sediment. Now he was banking on an even bigger discovery: a cache of 19th-century gold worth as much as half a billion dollars. On September 11, Thompson and a crew of explorers hunkered down aboard the Arctic Discoverer, a retrofitted Canadian icebreaking ship about 160 miles east of South Carolina. There they deployed an...

A Sudden Dislocation in the Silver Market July opened with an alarm bell. The Exchange for Physical (EFP) premium for silver, which reflects the cost of converting COMEX futures into deliverable metal, surged from near-zero levels to between 60 and 80 cents per ounce. This kind of move does not occur in isolation. At the same time, spot silver jumped more than two dollars, pushing beyond $38 per ounce. These changes appeared within a 48-hour window. Us Metal War Silver Becomes Strategic As Premiums Explode 01 The market had not been showing extreme activity beforehand. There was no retail panic....

Remember the cycles of the mining industry. For multiple reasons, the price of extracted ore tends to fall, particularly due to competition. Thus, as a mine is operated, the metal content generally decreases, reducing its profitability until the company decides to close it. There are therefore periods during which the extraction of a particular metal is no longer profitable, leading to a sharp drop in production, and then, gradually, a shortage. For precious metals, to mask the erosion of the purchasing power of currencies, prices were long tightly regulated, first by specialized administrations, then by groups of central banks, such...

Could a gold revaluation be on Trump’s mind? Below, we consider the options facing a debt-sick America. A Bug Racing for a Windshield As we’ve been warning for years, the US and USD are a bug rapidly seeking a debt-hard windshield. The trend and speed of this collision (and debt trap) are becoming increasingly more obvious with each passing day and headline. In simplest terms, as US debt levels soar moon-bound, trust and interest in its IOUs (and the currency/dollar backing those IOUs) are sinking toward the ocean floor. The evidence of such otherwise “dramatic” statements is literally everywhere. Hard...

2.10 Gold Certificate Account (110-025) The Secretary of the Treasury is authorized to issue gold certificates to the Reserve Banks to monetize gold held by the U.S. Department of the Treasury (Treasury). At any time, Treasury may reacquire the gold certificates by demonetizing the gold. Treasury maintains an account with the Board of Governors entitled "Gold certificate fund—Board of Governors of the FR System." When the Treasury monetizes gold, it credits this account in return for deposit credit at the Federal Reserve Bank of New York (FRBNY). When demonetizing gold, Treasury decreases the account and authorizes the FRBNY to charge...

The cube would probably look a little something like this. Image credit: Clark Ukidu / Shutterstock Hearing stories of the largest gold nugget ever found, or the recent 2.6 kilogram (5.7 pound) discovery by an amateur aussie gold hunter, you might be fooled into thinking we’ve discovered a massive amount of gold on Earth. Well, it might come as a surprise to learn that all the gold discovered so far could fit inside a puny 23 by 23 meter (75 by 75 foot) cube – that’s about the length of a cricket pitch. Despite its relatively small size, this cube...

It’s been a spectacular 2025 for precious metals so far. Will it continue into H2? With fiat currencies losing credibility, the answer is a resounding YES In quiet trading during a week foreshortened by US Independence Day, gold has held up well, while silver has been squeezed higher. In European trading this morning, gold was $4,340, up $65 from last Friday’s close and silver at $36.80 was up 86 cents. Monday was the last trading session of the first half of this calendar year, and precious metals have beaten the socks off all other investment categories. Platinum is up 47%,...

The Shanghai Gold Exchange has expanded outside mainland China for the first time, with the rollout of two new contracts and a bullion vault in Hong Kong. The launch serves a number of purposes, from broadening the Shanghai bourse's international reach, to strengthening China's clout in commodity and currency markets and Hong Kong's status as a financial center. Trading will be conducted in yuan and settled by cash or physical delivery, including to the new vault operated by Bank of China Ltd.'s Hong Kong unit, the SGE said in a statement. The two contracts covering different purity levels will debut...

Q.When FDR took the U.S. off the gold standard in 1933, did the action disrupt the basis of central banks issuing fiat currency on only about 3% of money backed by gold—wouldn't going off the gold standard merely extend and formalize the creation of monies out of nothing? Did the House of Morgan organizing the Business Plot to depose FDR on behalf of the House of Du Pont, coordinate its actions with the British Exchequer, the City of London, and the Rothschild interests? How did the change of Wall Street leadership from Morgan to Rockefeller proceed from the passage of...

They have found a giant gold deposit in China’s Hunan province with estimated reserves of 1,000 tons and a value exceeding US$80 billion!!!

Nadine Arslanian Menendez is requesting a new trial due to the “blatant violation of her Sixth Amendment right to counsel of her choice,” according to documents filed by her attorneys in federal court. Menendez, the wife and co-defendant of former U.S. Sen. Bob Menendez, was found guilty in April on 15 counts of bribery and fraud charges. Arslanian Menendez's attorneys are arguing that because of one of the superseding indictments during the ongoing case, prosecutors created a potential conflict between her and her attorney at the time, David Schertler. According to the filing, prosecutors said during hearings that they intended...

LONDON, June 17 (Reuters) - Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed. Gold demand from central banks has risen significantly over the past three years despite its price rally to consecutive records. It hit an all-time high of $3,500.05 an ounce in April, up 95% since February 2022 when Russia invaded Ukraine…. Seventy three central banks responded to WGC's survey, carried out between February 25 and May 20,...

BBC News reports that a metal detectorist recently retrieved a rare and unique gold coin from a field in Norwich. The artifact was analyzed by numismatist Adrian Marsden of the Norfolk Historic Environment Service, who believes it dates to between a.d. 640 and 660 and may be the oldest Anglo-Saxon coin ever found in East Anglia. It was minted at a transitional time in English history when Christianity was beginning eclipse pagan beliefs, which is reflected in the coin's iconography. One side of the thrymsa, a type of early Anglo-Saxon shilling, features a dancing man who seems to be holding...

Is gold calling out a broken global financial system? One Big…Lie? Earlier this year, I was asked to give my most “heretic” opinion about the global financial system. This was an unusual yet bold question, and after a brief pause, I answered that the entire system was…, well: “A lie.” This may seem like a sensational response in an industry sometimes prone to the sensational; however, if we look at stubborn facts, the answer is truer than it is extreme. When it comes to a financial system rotting from within, the Botox-like beauty of our ballooning S&P and centralized credit...

Disgraced former Sen. Bob Menendez (D-NJ) spent some of his final hours as a free man Monday running errands with a fellow convicted felon, his wife Nadine. The couple was spotted walking side by side into an Englewood Cliffs, NJ credit union hours before the ex-senator is expected to report to a Pennsylvania federal prison to begin serving an 11-year sentence for bribery and corruption. Menendez, 71, will do his time at the Federal Correctional Institution Schuylkill in Minersville, Pa. The medium security facility, which has an adjacent minimum security satellite camp, houses more than 1,200 inmates and is about...

Are we approaching a peak in the price of gold? According to several mainstream economists, we are indeed. But, they’re DEAD wrong and today I’ll show you why. See, their argument relies on the inflation-adjusted price of gold. In January of 1980, the price of gold reached a local peak near $850 per ounce. According to official U.S. inflation statistics, $850 in January of 1980 would be equivalent to $3,504 today. In the 45 years since then, gold has increased in value by nearly 300% to $3,346. That’s getting close to the “official” inflation-adjusted 1980 price of $3,504. So are...

Officials claim they used coins discovered inside a shipwreck off the coast of Colombia to prove the doomed vessel is the legendary San José that was carrying a $20 billion treasure when it sank. The Colombian government used an unmanned vehicle to inspect the wreckage of the 18th-century craft to prove it has found the lost Spanish galleon. The submersible carried out a non-intrusive investigation to document areas of the shipwreck that have yet to be photographed that contained coin-like objects, according to a study from Antiquity. Coins found in a hoard area in the ship’s stern were photographed and...

Whatever happened to the Donald Trump and Elon Musk visit to Fort Knox? You’ll recall the buzz from earlier this year. Trump and Musk loudly announced they were going to visit the U.S. bullion depository at Fort Knox, Kentucky to make sure the U.S. gold was actually there. The press was invited to tag along. Musk claimed that his DOGE team was ready to “audit” the gold bars to see that there were none missing. I had my own views on the announcement (described below) but I certainly agreed this would be the mother of all photo ops. For the...

A stunning gold Saxon sword pommel that was unearthed in a field in Leicestershire, England by an 81-year-old woman has sold at auction for $22,000 (£16k).The rare 7th-century artifact was found in 2021 while the long-time metal detector enthusiast was searching a field during a local gathering of detectives.They told her that there was nothing to be found in the field where she was searching, but she persevered and found the gold pommel seven inches beneath the ground...Weighing 20.5 grams, the pommel -- which the Leicester Museum declined to purchase -- would have been fixed to the end of the...