Tag Archives: gold

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

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 …

Read More »

Gold ‘should be $US1,700 an ounce’ – Deutsche Bank

Gold Deutsche Bank

Gold has seen a sell-off in recent days, heading for the longest run of declines since May, trading at $US1319 an ounce. Federal Reserve chairwoman Janet Yellen’s speech at Jackson Hole over the weekend contributed to gold’s latest decline. Yellen said the case for a US rate increase has strengthened, …

Read More »

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 …

Read More »

Global economy at crossroads: time to hoard cash or gold?

Cash gold

From Filip Karinja, for Birch Gold Group The global economy is at a crossroads according to Mohamed El-Erian, chief economic adviser at Allianz Global Investors. The former Pacific Investment Management Company chief executive blamed central bank asset purchases (QE) for creating a distortion between the price of assets and their fundamentals. …

Read More »

Why are the world’s wealthiest people buying gold?

George Soros gold elite world's wealthiest people

By Filip Karinja Seen as a wealth preservation asset during hard economic times and used as a monetary metal for thousands of years, gold is once again on the radar for the world’s elite. Gold is seen as a low risk safety asset and investors tend to shift their portfolio …

Read More »

Former IMF head and bond king both recommend gold over stocks and bonds

Bill Gross Pimco bond king

From Filip Karinja, for Birch Gold Group Kenneth Rogoff, former chief economist for the International Monetary Fund (IMF), Kenneth Rogoff, recently penned a piece in which he recommended that emerging markets diversify their foreign exchange holdings away from the bonds of developed countries and into gold. One of Rogoff’s main reasons for the …

Read More »

US debt dumped as central banks and billionaires buy gold

Gold central banks billionaire debt

From Filip Karinja, for Birch Gold Group Central banks have been dumping U.S. debt at an unprecedented rate. Last year, foreign central banks sold an astonishing $225 billion in U.S. treasury bonds. And now, just a few months into 2016, the rate of selling has increased, with central banks having already sold $123 …

Read More »