"Australia is actually very good at digging things out of the ground, putting them on a ship and sending them overseas and paying a lot of money to buy them back as a finished good."
"Some mines and metals will continue to perform well, while others may fall victim to the recession with mine closures, job losses and lost government revenues as a consequence."
"By 1935, he had secured work in 1935 at the Kinlochleven aluminium plant, the same place where his father was employed as an accountant, but he was soon recruited as a junior manager by the Glasgow shipbuilding and engineering conglomerate William Beardmore and Company."
"On Thursday, the Mint said that it ran out of stock amid record purchases of the American Silver Eagle bullion coins, which rose from 650,000 ounces sold in February to 2.32 million ounces with just 12 days into March."
"In 2017, it’s estimated that humans consumed 100.6B metric tons of material in total. Half of the total comprises sand, clay, gravel, and cement used for building, along with the other minerals mined to produce fertilizer. Coal, oil, and gas make up 15% of the total, while metal makes up 10%. The final quarter are plants and trees used for food and fuel."
"According to Citi’s analysts led by Aakash Doshi, this kind of outperformance is merely the beginning of a bull run for the ages. The team recently published their short- and long-term forecasts, revealing that the metal has enough momentum to breach $1,700 over the next six to 12 months. However, their expectations for gold over the 12-24 month periods are even more bullish, as the team expects gold to pass its all-time high and climb to $2,000 during that time."
After a 2018 that saw the official sector buy a record 651 tons of gold bullion, most analysts agree that the trend of voracious gold buying will continue in similar fashion over the next couple of years. According to a report by the World Gold Council, this year’s central bank purchases clocked in at 562 tons by the end of October, which could very well end up placing this year’s total figure above that of 2018.