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Multiple Texas Bills Look to Challenge Fiat Currency
ByDeanTwo Texas bills filed by state Rep. Mark Dorazio, HB1049 and HB1056, propose creating gold and silver-backed transactional currencies as legal tender in the state. These bills would require the Texas Comptroller to issue these currencies through the Texas Bullion Depository, ensuring full backing by gold and silver. The bills aim to offer an alternative…
Silver Price Analysis: XAG/USD seems poised to retest multi-month high, north of $24.00
BySirhcSource: By Haresh Menghani Silver catches fresh bids on Tuesday and rallies to the $24.00 neighbourhood. The technical setup favours bulls and supports prospects for additional gains. A break below the $22.80 confluence is needed to negate the positive outlook. Silver gains strong positive traction on Tuesday and rallies to a fresh daily high, back closer…
New applications for platinum as a catalyst – a use discovered over two centuries ago – are still being discovered
BySirhcIn the early decades of the nineteenth century scientist Sir Humphry Davy stumbled upon the phenomenon of heterogeneous catalytic oxidation when working on the development of the first-ever miner’s safety lamp. By inserting a platinum wire near the ignited wick of the lamp, Davy found it would catalyse the continued oxidation of coal gas. This…
Gold pullback extends to start the session, silver also down by 9% on the day now
BySirhcThe pullback is getting violent Gold has fallen to a low of $1,907 on the day as the sharp fall continues following futures touching over $2,000 earlier in the day. Meanwhile, silver is tailing off to a low of $22.32 or down by 9% after having touched just above $26 in Asian trading earlier. As…
Morgan Stanley Ousts FX Traders as It Probes Concealed Loss
BySirhcBy Stefania Spezzati, Donal Griffin, and Viren VaghelaNovember 28, 2019, 10:36 AM CST Updated on November 29, 2019, 2:35 AM CST Morgan Stanley fired or placed on leave at least four traders over an alleged mismarking of securities that concealed losses of between $100 million and $140 million, according to people with knowledge of the matter. The firm is investigating the suspected mismarking, which…
How China & Russia’s De-Dollarization Could Boost Record Gold Rally
BySirhcChina and Russia are ditching the U.S. dollar at a faster pace. In the process, they are fueling the record rally in gold. In U.S. dollar terms, the price of gold has hit a new record high at $2,055. Strategists and politicians fear that the U.S. dollar is at risk due to various macro factors….