Australian Gold Kangaroo: The Bullion Coin Backed by an Act of Parliament

Perth Mint’s flagship bullion coin changes its reverse almost every year, which is the least interesting thing about it. At 99.99% purity with an uncapped mintage, the Australian Gold Kangaroo coin sits behind a guarantee written into Western Australian statute in 1987. Here is what that actually means for what you own.

Gold’s Speculative Crowd Hit a 60-Week High. Almost Nobody Bought.

Two metals rallied this week on the same headline. Underneath, the last CFTC positioning data, as of August 11, shows opposite structures. Gold’s short book has thinned to 64% of normal. Silver’s is still at 87%. Only one of these prices has a cushion under it.

Gold Hit a Three-Month High. Silver Hit a Two-Month High. One Story Connects Them.

Gold reached its best level since May and silver hit a two-month high, even as US growth data came in hot. Washington spent the week trying to force long-term interest rates down. That attempt failed, and the cost landed on the dollar instead. Five developments explain why both metals climbed.

The National Debt Hit $40 Trillion. Jefferies Just Turned Bullish on Gold.

The national debt crossed $40 trillion on August 18, five months after it crossed $39 trillion. Three days later Jefferies turned bullish on gold and named the fiscal arithmetic, not the Fed, as the reason. Here is the mechanism, and the one number almost nobody is quoting.