Gold News

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AUGUST 13,2016 | LEAVE A COMMENT

Investing.com - Gold prices rose sharply in North American trade on Tuesday, reapproaching the strongest level since March 2014 as investors continued to push back expectations of a rate hike from the Federal Reserve in the next few months.

The dollar has been under heavy selling pressure in recent sessions amid waning expectations that the Federal Reserve will raise interest rates anytime soon after data showed the U.S. economy grew much slower than expected in the second quarter.

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AUGUST 13,2016 | LEAVE A COMMENT

foxnews.com - Diamond miners recently discovered a ship that went down 500 years ago after draining a man-made lagoon on Namibia’s coast. While shipwrecks are often found along Africa’s Skeleton Coast, this one just so happened to be loaded with $13,000,000 worth of gold coins.

It also answers a centuries–old mystery and is what some archaeologists are calling one of the most significant shipwrecks ever found. The wreck was first discovered along the coast near Oranjemund by geologists from the mining company De Beers in April 2008. One reason it took centuries to find is because it was underneath the ocean floor.

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AUGUST 13,2016 | LEAVE A COMMENT

cnbc.com - Fear is on the rise and so is the price of gold. Gold futures for August hit a three-week high Thursday, rising to $1,272.70 per ounce, just under a key resistance level of $1,275. The yellow metal is up about 20 percent year to date, and some high-profile investors

Investors believing they need to have gold in their portfolio as a hedge against the outcome of easy central bank policies and for other safety reasons are fueling a run in the metal. Some analysts say gold could easily climb above $1,300 an ounce.

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AUGUST 13,2016 | LEAVE A COMMENT

Germany’s Bundesbank released further detail on its gold holdings on Wednesday, saying it transferred 210 tonnes of gold back to the country last year from vaults in Paris and New York.Frankfurt is now the largest storage location for the country’s gold reserves after New York, it said in a statement, reports Henry Sanderson in the FT.

It also indicates a lack of trust between central banks and specifically with the Federal Reserve, whose gold reserves have not been audited in over 50 years and many have doubts about the integrity of those reserves. In these uncertain times, it is prudent to follow the advice of Dr. Marc Faber by becoming your own central bank. It is essential to own gold in allocated, segregated accounts in the safest vaults in the world, in the safest jurisdictions in the world.

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AUGUST 13,2016 | LEAVE A COMMENT

Here is some plain talk about how inflation works and how to protect yourself against it. Why is it important to know about it? Well, every paper currency that ever existed has failed, usually ending in massive inflation. Every single one. Without exception. And it has already started worldwide. It affects every paper currency.I’m not talking about the usual, regular increase in the price of groceries.

Or the fact that we can’t outwork inflation: it grows faster than we can earn money, hence our increasing debt levels and lowering of our standards of living.

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AUGUST 13,2016 | LEAVE A COMMENT

Johannesburg - South Africa’s biggest banks are expected to consider reducing staff numbers this year to control costs as rising interest rates, a slowing economy and weakening rand weigh on earnings, according to finance union Sasbo.

Last year was a “fairly sedate year in terms of restructuring, but we expect 2016 to be different,” Eugene Ebersohn, Johannesburg-based spokesman for labor group, said in an e-mailed response to questions. “Each bank will have to engage us first and we will have to try and mitigate the effect on our membership.”

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AUGUST 13,2016 | LEAVE A COMMENT

The world's top gold consumer China launched a yuan-denominated gold benchmark on Tuesday, as the country took an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market.

Efforts by China over the last few years to reform its domestic gold market in a bid to have a bigger say in the bullion industry is starting to pay off.As the world's top producer, importer and consumer of gold, China has balked at having to depend on a dollar price in international transactions, and believes its market weight should entitle it to set the price of gold.

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AUGUST 13,2016 | LEAVE A COMMENT

The admission that the economy is so weak that it needs more QE is going to destroy the narrative that the U.S. economy is in great shape and it’s no longer going to be the safe haven for capital around the world.

It’s going to prick the bubble in the dollar , and people are going to realize that we’ve never recovered from anything, the economy is sicker than ever, the Fed’s going to make it even sicker with more of its toxic monetary policy .

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AUGUST 13,2016 | LEAVE A COMMENT

Much of Germany's gold reserves are stored abroad, in vaults in the US, Britain and France. No one has actually seen the gold bars for a long time - which has prompted German federal auditors to call for look.

In times of crisis, gold is considered to be a safe haven.But as the financial crisis has engulfed the European single currency zone, that very haven has shifted into the focus of politicians and Germany's National Audit Office.

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AUGUST 13,2016 | LEAVE A COMMENT

We know that gold has a 5,000 year history as real money, which is all good, and paper money, which is merely a substitute for gold, has 150 year history, which is all bad. Every single paper currency has failed, without exception.

Bitcoin is just another gold substitute. So why are China and Russia stockpiling gold? In fact all the countries are buying as much gold as they can get their hands on now as the US dollar nears final collapse.

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