Gold Vault Opens in China as Bullion Goes From West to East

A gold vault that can store 2,000 metric tons, double China’s projected consumption this year, opened in Shanghai this month as owner Malca-Amit Global Ltd. seeks to benefit from rising demand in Asia’s largest economy. The facility is the biggest for the Hong Kong-based company, and it can also store diamonds, jewelry and art, Joshua Rotbart, […]

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Gold and the evolution of the dollar

As more and more liquidity is pumped into the global financial system, so gold bugs have become increasingly vocal about the precious metals monetary properties and the importance of hard assets. And, for good reason, they argue, the metal has been used as a monetary asset for centuries.  But, while it remains a medium of […]

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Gold Bulls Persist on Dollar Drop as Stimulus Kept: Commodities

Gold analysts are bullish for a second week on speculation that prolonged U.S. stimulus and a weakening dollar will boost demand for the metal as a haven. Seventeen analysts surveyed by Bloomberg News expect prices to advance next week, nine are bearish and six neutral. The Bloomberg U.S. Dollar Index, a measure against 10 currencies, slid to […]

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Gold Futures Advance to Three-Week High on Stimulus Speculation

Gold futures rose to a three-week high on speculation that the Federal Reserve will maintain the pace of monetary stimulus to boost economic growth. Fed policy makers will delay reducing $85 billion in monthly bond purchases until March, according to the median estimate of 40 economists in a Bloomberg survey last week. The partial U.S. government 16-day […]

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Bullion banks “selling gold they don’t possess”. Squeeze alert!

The statement in the title relates to a frustrated comment in a recent King World News interview with John Hathaway, a renowned gold stocks analyst who manages the well-respected Tocqueville Gold Fund in the USA.  Now, this factoid will not be news to regular readers of Mineweb,  or to any avid follower of the gold market, and […]

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Gold Advances Most in a Week on U.S. Government Shutdown Concern

Gold advanced the most in a week as U.S. lawmakers struggled to reach an accord on raising the nation’s debt limit, increasing demand for the precious metal as a haven. With the U.S.’s borrowing authority set to lapse Oct. 17, Senate Majority Leader Harry Reid said yesterday that he had a “productive conversation” with Minority Leader Mitch McConnell, […]

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Moscow Exchange Plans Gold to Silver Trading to Broaden Appeal

“OAO Moscow Exchange will introduce trading of gold and silver as early as this month as part of plans to make metals more accessible to smaller banks by reducing transaction costs. The exchange will quote gold and silver in Russian rubles per gram, with minimum trades starting at 10 grams of gold and 100 grams […]

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Investors roll snake eyes in $2.4m Vegas precious metals scam

“Las Vegas may now be competing with Florida as a hot spot for precious metals scams, as the U.S. Commodity Futures Trade Commission announced Monday it has filed an injunctive enforcement action against three Nevada companies who reportedly took in $2.4 million in a precious metals trading swindle.”   Continue reading on mineweb.com

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Gold Bulls Raise Wagers Most in Month on Stimulus: Commodities

“Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year. The net-long position in bullion jumped 12 percent to 78,654 futures and options in the week ended Sept. 24, the most […]

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Thai Gold Buyer Doubles Imports After Bear Slump: Southeast Asia

“YLG Bullion International Co., Thailand’s biggest domestic gold importer, expects to more than double purchases this year after the bear market in prices spurred a surge in demand for physical metal. The company may import as much as 200 metric tons in 2013, from 92 tons last year, Chief Executive Officer Pawan Nawawattanasub said in […]

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