News Archive

Is Cyprus Selling Its Gold For Financing?

Reuters reported yesterday that Cyprus would be selling its gold in order to finance part of the bailout that its receiving from the Troika. Earlier this morning, a spokesperson for the Central Bank of Cyprus revealed that no such talks had been “raised, discussed, or debated”. The initial plan reported by Reuters suggested that Cyprus

Chinese Gold Imports Surge In February

At a time when much of Europe and the United States seems to be losing interest in the precious metals, the Chinese are once again showing their love for gold with the news that gold imports from HK into the mainland jumped 89 percent from the previous month to total 97,106 kilograms. This figure stands

Dubai Looking To Become Global Gold Hub

Dubai is fast becoming one of the largest hubs for gold related activity, announcing today at a Precious Metals Conference that the value of gold traded through Dubai in 2012 was $70 billion compared to just $6 billion back in 2003. Those figures mean that over 20% of the world’gold imports/exports pass through the United

George Soros: Gold No Longer Safe Heaven

Institutional investing mogul George Soros was recently interviewed by the South China Morning Post in Hong Kong and was asked a series of questions relating to China, shadow banking, philanthropy, and gold. Soros suggested that the idea of gold being a safe-heaven had been ‘destroyed’ citing last year’s European crises, and gold prices not reflecting

ABN Amro Halts Physical Gold Delivery

One of Holland’s largest banks, ABN Amro, has recently released a statement announcing to its customers that it will no longer be delivering physical gold, or any precious metal to its clients. All of the clients’ gold will be translated to their bid price in fiat money as of the announcement. This sudden and perplexing

Turkish Gold Imports Keep Rising

Turkish gold imports rose to an 8 month high in March, up more than 5 times from the same period last year. Low gold prices contributed to the demand, as well as use in the payment for Iranian gas that we mentioned earlier. Out of the 18.26 tons imported, 14.6 tons went into gold coins

Vietnam’s War On Gold

The Vietnamese people at one point in time suffered from some of the highest inflation in all of Asia. Even though the country’s financial situation and its currency the Dong has stabilized since its 20% inflation rate in 2011, a 7% inflation rate still keeps the country’s citizens on their toes. Gold is naturally a

Turkey Still Exporting Gold To Iran

Seeking to hamper the progress behind Iran’s nuclear program, sanctions have been imposed in the West to choke the Iranian financial system. One country who’s been resilient on ending ties with Iran has been Turkey, who relies on their neighbor for natural gas. The United States has given nations dependent on Iran for natural resources

Insider Buying Of Gold Stocks Reaches Multi-Year Highs

According to INK Research, insider buying of gold stocks has risen to multi-year highs giving a strong signal that a bottom has been reached. Analysis of the S&P/TSX Venture Exchange, revealed that there are now seven precious metals stocks where insiders buying for everyone with selling – a doubling of the ratio from several months

Arizona Pushing To Make Gold Legal Tender

Unease is on the rise concerning the seemingly infinite printing of fiat dollars by the Federal Reserve. Lawmakers in Arizona are pushing a measure that would protect its citizens and businesses by allowing gold and silver to be treated as legal tender. Already the legislation has passed through the state Senate and the Arizona House