Following in the footsteps of Utah, Kansas and Texas, Oklahoma recently passed a law to allow gold as legal tender, which has led some to believe that the U.S. is slowly moving towards the gold standard. How would that work? And is it even realistic? How would you even use gold in place of the U.S. dollar? It's a fascinating topic with no right or wrong answers. In this Market Report, Will Hart and Jake Kennedy give their take on these questions. Pay special attention to the enlightening example that's taking place in Ukraine today.
In the face of an increasing number of sanctions from the U.S., Russia is becoming more and more defiant. They've already threatened the dollar's reserve currency status, but now an advisor to President Vladimir Putin has explicitly proposed an "anti-dollar alliance". Could this latest strategy to challenge the dollar's might actually succeed? We give you the facts right here.
Last week marked a wild ride on Wall Street and in foreign affairs. Stocks were all over the place, eventually ending the week slightly up. But with an even stranger (and tumultuous) week in foreign affairs, we can begin to truly appreciate gold's latest movements. We try to read some of the tea leaves here.
Each week, Your News to Know covers the latest, most interesting and relevant news about gold, precious metals and the overall economy. Stories this week include: the world's wealthy are snapping up gold, the U.S. Mint has its highest monthly sales of American Eagle bullion coins since January, and Apple will offer the new iPad in gold. Read to explore in depth.
Gold may or may not make you money, and it doesn't pay dividends. But when there's a currency crisis, gold has proven to protect your savings against losses. Such is the case right now in Russia, where the ruble has lost about half of its value. In this edition of the Market Report, Will Hart and Jake Kennedy explain exactly why gold is such a critical component of your portfolio for just this reason.
In a little less than five months, Russia considerably upped the ante and tripled their gold hoard. Is their stockpile purely political? Read further to find out what this will mean for the future of the shiny metal.