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Gold, Silver, and Currencies

Young Research & Publishing has been providing research and insights on precious metals and currency markets to institutional investors, corporate financial officers, business owners, and individual investors for over four decades. Richard C. Young started Young Research & Publishing in the 70s to publish the authoritative Young's World Money Forecast, a 50-page monthly investment report on the precious metals and currency markets. Today, our research on gold, silver, and currencies is geared toward investors in or nearing retirement who are looking to preserve and protect wealth. 

Bitcoin: Understanding the Cryto-Currency

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Find out what you need to know about Bitcoin right here. This primer will get you started on understanding the digital crypto-currency. Who: Bitcoin was started by a cryptographer/developer calling himself Satoshi Nakamoto. Satoshi never revealed much about himself, and after getting the project off the ground, left in 2010. Since then a large group of developers has taken on the task of building the currency's infrastructure. What: Bitcoin is a digital currency, protected by cryptographic tools used to prevent rapid money expansion and counterfeiting. Bitcoin isn’t the first … [Read more...]

Dislocation in Emerging Market Currencies

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What has happened so far this month with the Turkish Lira is what currency dislocation looks like. The Fed’s taper chit-chat is like a butterfly flapping it’s wings in Argentina. In complex systems the butterfly effect matters. The Wall Street Journal's Peker, Candemir and Karakaya report here: ISTANBUL—Turkey's central bank resorted Thursday to direct currency sales for the first time in two years to prop up the lira, but the currency kept on spiraling to record lows amid a broad-based investor exodus from emerging markets. Policy makers in Ankara started selling dollars in the European … [Read more...]

Bitcoin Worth $524,000?

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Bitcoin is a speculative corner of the market. To get a better understanding of it read this article by Brian Wesbury in the WSJ: Right now, total cash and deposits in the U.S. banking system (the M2 money supply), is roughly $11 trillion. Assuming 21 million Bitcoins are mined and they become an accepted currency, each one could be worth as much as $524,000. This is a massive potential appreciation from their current level. However, the list of companies that accept Bitcoin as payment for actual transactions make up what I estimate to be less than one-hundredth of a percent of all … [Read more...]

Gold Update: The Yellow Metal is on the Move Worldwide

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China’s coming dominance of world gold markets is apparently, according to a report in Bloomberg, being fueled by “aunties.” Middle aged women who prefer to invest in something they can wear and transport, rather than property or stocks. This type of dual purpose investment in gold jewelry has been driving India’s world leadership of gold for years. But as we mentioned in August, China will soon overtake India as the world’s largest gold consumer. But part of the reason India has slowed its consumption is the result of draconian import rules the government has implemented to prop up the … [Read more...]

Approaching 100 Years of the Fed

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December 23rd is the 100th Anniversary of the Federal Reserve. The chart below is a measurement of the value of a 1913 dollar today. As you can see the value has dropped some 95.7%. If the Fed’s dual mandate includes preserving the value of the dollar, it’s not performing its job. In contrast, according to Oxford Economics, the value of gold has remained remarkably steady over the centuries. “In the 1830s the price of gold in 2010 dollars was around US$450 per troy ounce, with the real terms price much the same in 2005, more than a century and a half later.” So while the value of the … [Read more...]

Record Gold Demand in China Drives Prices Higher

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It turns out that among China’s 1.3 billion people, there are enough gold bugs to move the market. The newly affluent Chinese are driving a demand increase for the yellow metal. According to the South China Morning Post, China will overtake India this year as the world’s largest gold bullion consumer. The SCMP quotes Zhang Yongtao, vice-chairman of the China Gold Association, as saying, "We saw some frenzied buying following gold's rout in April and our preliminary estimate confirms that consumption reached about 137 tonnes, more than double a typical month. Chinese demand for gold will remain … [Read more...]

Gold as Good as it Ever Was

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It’s hard for many so-called “elite” economists to think about gold as an asset, probably because they’ve devoted so much of their careers to trying to justify fiat money systems. But N. Gregory Mankiw, a somewhat famous Harvard professor and the author of some very popular economics textbooks, grudgingly acknowledged the logic of holding gold in an investment portfolio. In a New York Times editorial, Mankiw wrote of the benefits of gold as a portfolio counterbalance. An important element of an investment portfolio is diversification, and here is where gold really shines — pun intended — … [Read more...]

How to Lose Money Fast

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Don’t waste your money with stop-losses. There’s no promise that you’ll like the bid you’re forced to take like the recent EUR/USD squeeze. FXstreet.com (Barcelona) - In what seems to have been an absurdly exaggerated move up, the EUR/USD is currently trading at 1.3137 after posting a fresh 2-week high at 1.3203. The catalyst on today's moves is a combination of a market overly long the USD, twilight liquidity on the transition from NY into Tokyo, and obviously, Fed Chairman throwing cold water on QE taper this September, saying that inflation, jobs signal more Fed stimulus is … [Read more...]

Escalating Currency Wars an Imminent Threat

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With the cabal of central bankers and finance ministers once again denying at the G-20 meetings last weekend that the world’s largest economies are engaged in clandestine currency wars we are reminded of the famous Groucho Marx quote, “Who you gonna believe, me or your lying eyes?” [expand title="Click here to read more."] It should be self-evident to even the casual observer that the world’s largest central banks are engaged in currency wars. Pick up the morning paper and you are bound to see evidence of this. From yesterday’s Financial Times: “But the central bank governor, Graeme … [Read more...]