Gold Mining – DIGIT INFO

Peter Schiff Expects Gold Mining to Be Best-Performing Sector This Decade — Foresees ‘Major Bull Market’

DIGIT — Tue, 20 Aug 2024 23:30:47 +0000

Economist and gold advocate Peter Schiff predicts that “precious metals mining will be the best-performing sector” this decade. He highlighted that “gold mining stocks are a steal” and anticipates “a major bull market.” Additionally, Schiff cautioned that the Federal Reserve risks making a policy mistake by cutting interest rates too soon. ‘The Stage Is Set […]

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Gold Production Struggles Despite 2024 Q1 Surge

DIGIT — Tue, 11 Jun 2024 03:31:16 +0000

The gold mining industry struggles to sustain production growth due to declining new deposits, reports the World Gold Council (WGC). Despite a 4% increase in first-quarter production in 2024, overall growth has plateaued since 2016. In 2023, mine production rose by only 0.5%, following 1.35% in 2022 and 2.7% in 2021, with a decline of […]

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Economist Peter Schiff Says Gold Price Not Rising Fast Enough, Condemns Civil Ruling Against Donald Trump

DIGIT — Tue, 27 Feb 2024 05:45:31 +0000

Peter Schiff, a U.S. economist and gold advocate, has attributed the lacklustre performance of gold mining companies to the rising inflation rate, which contrasts with a largely static gold price. Schiff maintains that the U.S. inflation rate would have been even higher if the U.S. Federal Reserve had not increased interest rates. The economist also […]

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TD Securities Analyst Says Gold Sell-off May Not Be Over — Carry and Opportunity Cost Could ‘Drive Capital Away’

DIGIT — Mon, 26 Sep 2022 14:30:34 +0000

Precious metals markets continue to flounder this week as gold’s value per troy ounce has slid by 6.53% in value against the U.S. dollar during the last month, while silver has shed 2.34% in 30 days. Amid the raging inflation worldwide and the hawkish central banks, gold and silver prices have struggled in 2022 and […]

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Report: Sudan Rejects Russian Illicit Gold Smuggling Allegations

DIGIT — Mon, 14 Mar 2022 09:30:47 +0000

Sudan has denied claims Russian entities have smuggled hundreds of tonnes of illicit gold from its territory. Officials have called the allegations fake news and suggested that Sudan is in fact looking to revive its economy through gold mining. The Rise in Russia’s Gold Holdings The Sudanese Ambassador to Russia Onor Ahmed Onor recently dismissed […]

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SEC Charges Australian ‘Man Behind the Machine’ in $41M Crypto Fraud Scheme

DIGIT — Sun, 09 Jan 2022 04:30:56 +0000

The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and his companies made “materially false and misleading statements in connection with an unregistered offer and sale of digital asset securities.” ‘Man Behind the […]

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Comparing the True Costs of Gold Mining in Africa With Those of Bitcoin Mining

DIGIT — Mon, 24 May 2021 09:00:55 +0000

When billionaire Elon Musk announced that Tesla would no longer accept bitcoin as payment for its electric vehicles, the price of the crypto asset tanked. In justifying this decision, Musk cited bitcoin mining’s inefficient use of electricity as well as its impact on the environment. In fact, before Musk waded into this debate, many opponents […]

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The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

DIGIT — Sat, 13 Mar 2021 03:00:59 +0000

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, […]

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