By Filip Karinja Nick Holland, CEO of South African based gold miner Gold Fields, stunned the audience with his speech at the Australasian Institute of Mining and Metallurgy conference in Brisbane on Monday. Holland stated that the gold mining industry is not spending enough to sustain itself into the future, with slowed …
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Gold continues to shine in 2016 as economic system begins to fall apart
From Filip Karinja, for Birch Gold Group Since the beginning of the year, gold has been on a tear. Not only has it outperformed many other investment classes, but just this week, it breached $1,300 per ounce. That price is over 20% higher from where it began 2016. On the technical charts, gold …
Read More »The super-rich are putting their money into this asset
The super-rich are looking to protect their wealth through buying record numbers of “Italian job” style gold bars, according to bullion experts. The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob …
Read More »Russia is dumping US dollars and hoarding gold
Vladimir Putin’s quest to break Russia’s reliance on the U.S. dollar has set off a literal gold rush. Within the span of a decade, the country quadrupled its bullion reserves, and 2018 marked the most ambitious year yet. And the pace is keeping up so far this year. Data from …
Read More »US military accused of stealing 50 tons of gold form Syria
The U.S. Army is transferring tons of gold from Daesh-held areas in Syria to the U.S., multiple reports said. According to a source who spoke to Kurdish Bas News Agency, the U.S. forces transferred about 50 tons of gold from areas seized from Daesh terrorists in eastern Syria’s Deir el-Zour …
Read More »Switzerland chooses gold over paper wealth backed by US dollar
Another country is betting on physical gold. Switzerland’s pension fund has boosted its investments in bullion, switching from the paper-backed securities in US dollars. “The Swiss government Pension System decided to change from paper gold in the amount of 700 million CHF into physical gold and store it in Switzerland. …
Read More »China claims gold reserves at end of 2016 a massive 12,100 tonnes
China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association. China has been the world’s biggest gold producer for 10 years and the largest consumer of the metal for four years, it …
Read More »Turkey to scam its citizens of gold in new clever way – ‘to help them earn money’
The dwindling credit of Turkey and significant decline in its currency, has led to the new clever idea of confiscating gold with a smile. The Turkish Central Bank has come up with an idea of how to confiscate private gold while pretending they are helping you earn more money. Their …
Read More »Trump’s missiles blow investors into safe havens
Even before missiles flew out of America’s warships to bomb Syrian military bases, gold was slowly increasing in value in anticipation of the Trump-Xi summit. After the bombs landed, gold has hit a 5 month peak as investors look for safe havens. Other safe havens such as the Japanese Yen …
Read More »China discovers gold deposit with mine life of 40 years, worth $22 billion
The biggest ever gold deposit of an estimated 380 tons has been discovered in China, announced Shandong Gold Group during a news conference in Beijing on Tuesday. According to local media reports, the Xiling gold seam in eastern China is more than 2,000 meters long and 67 meters wide. At …
Read More »China’s plan to dominate the global gold market
Status as one of the world’s biggest bullion importers, participation in the gold fix at the London exchange and a plan to establish a jewelry gold investment center in Shanghai has turned China into one of the leading players in the global gold market in 2016. Gold entered the New …
Read More »Billionaires move gold into underground bunkers in Swiss Alps
Seeking to avoid increased tax authorities’ scrutiny and apparently doubting the security of banks, it seems that some billionaires opt to store their assets in gold bullion in underground bunkers hidden deep in the Swiss Alps. The Foreign Account Tax Compliance Act (FATCA), a US federal law, has come into effect, …
Read More »Russia to buy 200 tons of gold in 2016
Russia plans to stock up on about 200 tons of gold this year, nearly matching the 208 tons it purchased in 2015. That’s according to Anton Navoi, the deputy head of the statistics department at the Russian Central Bank. Navoi explained that it’s profitable for the state to buy the …
Read More »Mining company to pay dividends in physical gold
By Filip Karinja In a world first, shareholders of ASX listed Resolute Mining (ASX:RSG) can receive dividend payments in the form of gold bullion. The gold miner announced it would resume dividend payments for the 2016 financial year at $0.017 per share under the new gold sales-linked dividend policy. The dividend payments …
Read More »China is set to make waves in the gold market
From Filip Karinja, for Birch Gold Group With the recent launch of its yuan gold fix, China is making waves in precious metals markets. Traditionally, gold fixing was done at the London Bullion Market Association (LBMA). But finding themselves on the outside looking in, with gold prices dictated solely by the west, China …
Read More »5 trends that show China is about to redefine the gold market
Apple spent about five years developing the iPhone, which has changed the smartphone market forever. Until the release, however, nobody could imagine what impact the iPhone would have on the market. And most consumers didn’t know about it at all. The same thing is happening with China and gold right …
Read More »Russia becomes world’s largest gold buyer
Russia’s central bank is now the world’s top gold buyer after adding 356,000 ounces of the precious metals to its reserves in February, data from the International Monetary Fund (IMF) quoted by local paper Vedomosti (in Russian) shows. According to the report, the country — which has been hoarding bullion as of late — increased …
Read More »Canada has sold all of its gold
One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total …
Read More »Canada sells off its remaining gold reserves
Canada is selling off most of its remaining gold reserves, mainly by selling gold coins, figures from the Bank of Canada and Finance Department show. The country held just $19 million US worth of gold as of last Monday. Through most of 2015, the country’s gold reserves stood at more than …
Read More »Premiums for silver coins rise to over 50%
Courtesy of Sharelynx’ Nick Laird who tracks precious metal premium by vendor, we continue our recent series showing the discrepancy between paper and physical metals, in this case silver. As Nick notes, APMEX price premiums are a lot higher than the Monex. And as can be seen in the charts below, premiums …
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