Countries like Nigeria are making headlines by bringing their gold reserves back home from places like the United States and the United Kingdom. This move is seen as a way to protect their wealth and strengthen their economies amidst global uncertainties. Economic concerns, including inflation and geopolitical tensions, have prompted
According to multiple sources, Syrian rebels, mainly affiliated with the Syrian National Army, have been recruited as mercenaries to provide security at factories and gold mines in African nations, reportedly under the direction of Turkey. Several opposition sources informed Middle East Eye this week that Syrian rebels had been hired
Recently, Bloomberg reported that you can now buy gold bars from vending machines in a GS Retail Co. convenience store in the Gangnam neighborhood of South Korea. Costco was the first to start selling gold bars—and running out of them. In South Korea, vending machines currently sell them. In one
According to the Times of India, India’s central bank, the RBI, has moved 100 tons of gold from the UK to domestic vaults because the stock was increasing abroad. A little over 100 metric tons of gold have been transferred by India’s central bank from the United Kingdom to its
After Utah, Wisconsin, Nebraska, and Kentucky, Alabama became the fifth state to have passed legislation supporting sound money by abolishing income taxes on gold and silver. Today, Alabama took a significant step toward promoting sound money concepts when Governor Kay Ivey signed a law eliminating all income taxes on capital
When asked about the potential reliability of cryptocurrencies compared to gold, Paul Goncharoff, chief manager of Goncharoff LLC, expressed uncertainty about whether Bitcoin will become as stable as gold. This month, the prices of Bitcoin (BTC) and gold have both reached all-time highs. The value of an ounce of gold
Putin’s gold strategy, implemented in early 2022 by tying the value of the ruble to gold, has successfully countered sanctions, aided by Russia’s status as the world’s second-largest producer of gold. Russia is the target of more than 16,000 sanctions. Nonetheless, the Russian economy and military apparatus expanded by 3.6%
Based on data from several sources, the countries with the largest gold reserves are the USA, Germany, and Italy. As a hedge and a store of value, gold continues to be significant in times of economic uncertainty. 2023 saw the metal set a new record in December, demonstrating its significance
The Polish central bank has purchased approximately 300 metric tonnes of gold in recent years in an effort to align its GDP-to-gold ratio with the average for the eurozone, as outlined in the secret EU plan. For those unaware, the European Union’s (EU) ultimate goal is for every nation to