Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Half the Gold Reserves

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Almost half of the global gold reserves are controlled by just 10 countries and institutions, according to a new study. The study reveals that the U.S. is far ahead of other countries in terms of gold reserves, even well above countries like Russia, whose central bank has been a buyer of gold for quite some time.

Buy Shares reports 49.37% of global gold reserves are held by nine countries and the International Monetary Fund. Total global gold reserves amount to about 1.85 billion ounces, and the top 10 countries and institutions are holding about 913.29 million ounces.

The U.S. is in first place with 286.87 million ounces, amounting to 15.5% of global gold reserves. Germany is in second place with 188.63 million ounces of the yellow metal, or 6.4% of the total supply.

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Gold Sector Correction is Maturing

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The HUI Gold Bugs index has over the last 2 decades (encompassing both bull and bear markets) tended to bottom in July per stockcharts.com‘s data for the index. A seasonal average is not a directive, but it is a (+/-) guide to be factored. Last year gold stocks bottomed in May as we caught what would be a violent upswing. This year I expect the low to be in June or July.

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