Tag Archives: gold

Maduro planning to swap Venezuela’s gold for dollars

Nicolas Maduro Venezuela gold dollars

It was almost exactly two years ago when a cash-strapped Venezuela quietly conducted its first, little-noticed gold-for-cash swap with Citigroup, as part of which Nicolas Maduro converted part of his nation’s gold reserves into at least $1 billion in cash courtesy of the US bank. As Reuters reported then, the …

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Trump’s missiles blow investors into safe havens

Investors safe havens Trump

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 …

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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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Russia returns to precious metals market, buys tons of gold

Russia precious metals market buys tons of gold

In January, Russia continued to increase its gold reserves with a large purchase of more than one million troy ounces, Vesti.ru reports. In January, Russia increased its gold reserves by 37 metric tons, equivalent to more than a million troy ounces, Vesti.ru reported on Tuesday. As a whole, Russia’s foreign reserves grew by four percent …

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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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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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