Money Metals strives to provide readers and customers with the most up-to-date, high-quality news, commentary, and analysis relating to precious metals.
As a leading source for gold and silver news, we are proud to reach millions of readers annually with comprehensive insights into market trends, geopolitical developments, and legislative changes impacting precious metals.
In this wrap-up, we highlight last month’s Top Five most read articles at MoneyMetals.com/news...
1. Saudi Central Bank Caught Secretly Buying 160 Tonnes of Gold in Switzerland
Jan Nieuwenhuijs revealed that the Saudi Arabian Monetary Authority (SAMA) has secretly bought 160 tonnes of gold from Switzerland since 2022, contributing to rising global gold prices.
Previously, Saudi Arabia adjusted its gold imports based on price fluctuations, but now it consistently imports regardless of price increases.
This shift is part of a broader trend, with countries like China also increasing gold reserves as a hedge against U.S. dollar reliance. Saudi Arabia likely holds far more gold than it publicly discloses.
2. ROBBED! My Gold Was Stolen from My Home—What I Do Now Instead
Jeff Clark recounts his experience of having gold coins stolen from a supposedly secure safe in his home, despite taking precautions.
The theft left him feeling violated and prompted him to rethink his storage methods, highlighting the risks of common practices like home storage and bank safe deposit boxes.
Clark emphasizes the importance of using secure, non-bank depositories, such as the Money Metals Depository, which offers robust security and allows for easy buying and selling directly from storage.
3. Chicago Fed President Goolsbee Wants to Declare Pennies Nickels
Mike Maharrey found a ludicrous statement from Chicago Federal Reserve President Austan Goolsbee, who suggested that pennies could be declared worth five cents!
Maharrey criticizes this whimsical approach as indicative of the Fed's broader tendency to create money out of thin air through practices like quantitative easing, which leads to inflation and rising consumer prices.
He argues that such ideas reveal the Fed's preference for monetary expansion over sound economic principles, ultimately resulting in persistent inflation that harms everyday consumers.
4. Money Metals Opens Idaho-Based Gold Depository Larger Than Fort Knox
Money Metals announced the opening of its state-of-the-art 37,000-square-foot vault and fulfillment facility in Eagle, Idaho, significantly larger than the U.S. Bullion Depository at Fort Knox.
Further reinforcing Money Metals' place at the top of the industry, this $28 million high-security depository offers secure precious metals storage with cutting-edge technology and armed security, serving individuals, institutions, and governments worldwide.
Containing the largest Class 3 vaults in North America, Money Metals Depository can even be expanded further, pointing to the growing demand for physical gold and silver storage in the U.S.
5. Israel Considers Limiting Ownership of Gold and Silver, Eliminating Large-Denomination Notes in War on Cash
Mike Maharrey spotlighted Israel's extreme new ideas to eliminate cash, starting with the removal of the 200-shekel banknote and potentially restricting private ownership of gold and silver.
Prime Minister Netanyahu claims this move will combat illicit cash flows and boost tax revenue, but it also advances the broader global agenda of creating a cashless society.
Such policies, while presented as efforts to fight crime, ultimately enhance government control by eliminating private transactions and increasing surveillance over financial activity, posing a threat to individual privacy and financial autonomy.
