Search Results for: gold

Gold Fields CEO: we are facing a global gold shortage

Gold Fields CEO Nick Holland

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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China’s plan to dominate the global gold market

China dominate 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 …

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Russia to buy 200 tons of gold in 2016

russia-buy-200-tons-gold-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 …

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Canada sells off its remaining gold reserves

Canada selling 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 …

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Mining company to pay dividends in physical gold

dividends gold Resolute mining

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 …

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Canada has sold all of its gold

Empty gold vault

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 …

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Billionaires move gold into underground bunkers in Swiss Alps

swiss-alps-gold-billionaires

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, …

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Russia becomes world’s largest gold buyer

Russia gold bars

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 …

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China is set to make waves in the gold market

Gold market China

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 …

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Germany joins China and Russia’s flight to gold

Gold bars

From Filip Karinja, for Birch Gold Group Germans are now rushing into gold. In search of a safe haven from a possible Greek debt default and the ultra-loose monetary policy of the European Central Bank (ECB) that makes even Ben Bernanke look fiscally conservative, Germans have significantly picked up their purchasing since …

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Russia rapidly increases its gold reserves

Gold reserves Russia

Russia’s appetite for gold accelerated last month, with the country adding the most to its reserves since at least March. The nation increased holdings to 42.4 million ounces from 41.4 million ounces in July, the central bank said on its website Friday. The amount bought was about the same as the 30.5 …

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Ukraine admits its gold is almost all gone

Ukrainian flag

Editor’s note: The mystery surrounding Ukraine’s gold only deepens since we first reported on the gold in Ukraine situation back in March 2014 – Ukraine’s gold reserves sent to NY Federal Reserve Back in March, at a time when the IMF reported that Ukraine‘s official gold holdings as of the end of …

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Russia is stockpiling gold bullion

Russia Putin gold

Lately Russia has been buying gold by the ton — 37 tons in September alone. Why? One obvious answer is that gold is now cheaper than it has been for quite a while and Russian President Vladimir Putin knows a bargain when he sees one. But Western countries have been …

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5 trends that show China is about to redefine the gold market

China 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 …

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Bitcoin is now officially more valuable than gold

Bitcoin gold

The price of bitcoin rallied to all-time highs on Friday, climbing above the price of one ounce of gold for the first time. The cryptocurrency was trading at $1,294, while a troy ounce of gold stood at $1,234. Bitcoin’s rally was attributed to high demand in China despite the country’s central …

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Germany accelerates gold repatriation as confidence in euro plunges

Germany gold repatriation euro

Berlin is bringing home its gold reserves stored in New York, London and Paris faster than scheduled, Germany’s central bank said Thursday. The move is linked to surging euroskepticism, as new governments in France and Italy may ditch the single currency. The German Bundesbank has already moved 583 tons of …

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Market manipulation: $4 billion of gold futures ahead of Comey testimony

Just minutes ahead of James Comey’s testimony that many hoped would lead to Trump impeachment, it appears someone decided it was an opportune time to dump $4 billion notional gold futures, seemingly confident this will not be a “constitutional crisis.” Over 30,000 contracts suddenly flushed ahead of Comey… This move …

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