Ghana wants to use its gold to pay for oil and other essentials the country needs to function. And it is hard to blame them. However, by converting the Ghanaian Cedi‘s local currency into U.S. Dollars and then buying what they need, the country’s foreign currency reserves are being depleted. Furthermore, U.S. dollar strength or […]
Just days after the Fed hiked rates another 75 basis points sending gold and most hard assets lower, metals are on fire. Silver is up nearly 7%, crude oil over 4%, and gold over 3% – a massive move for the metal. Copper was another colossal winner, up over 8% on the day. So, why […]
Many will remember Friday, February 11th, as the day investors began to act about inflation differently. Gold and oil had huge gains today, while pretty much everything else that wasn’t a commodity went down. The NASDAQ and Bitcoin, which lost 2.78% and 3.2%, respectively, are two examples. Today investors stepped into Canada’s resource sector as […]