Sunday, March 26 2017
By GCRU Gold News on Sunday, March 26 2017, 11:35
Platinum is used as the catalyst in electrolysers that store electric energy as chemical compounds, and it also plays an important role in fuel cells, catalytic converters and many chemical processes used in industry.
A group of Aalto University researchers led by professors Tanja Kallio and Kari Laasonen has developed a manufacturing method for electrocatalysts that only uses one hundredth of the amount of platinum generally used in commercial products. Platinum is a very expensive metal and it is therefore one of the bottlenecks hindering the growth of renewable energy.
By GCRU Gold News on Sunday, March 26 2017, 11:12
By GCRU Gold News on Sunday, March 26 2017, 11:10
Friday, March 24 2017
By GCRU Gold News on Friday, March 24 2017, 22:32
The photos in this gallery were taken inside a Chinese coin counterfeiting operation. This counterfeiting ring is suspected of putting thousands of fake coins onto the world and U.S. coin markets every month.
By GCRU Gold News on Friday, March 24 2017, 08:20
A pair of 17-year-old boys carried out a scheme using fake gold bars to scam people out of more than $50,000, according to police.
Investigators said the Bend teens bought artificial gold bars online that looked like the real deal. They then sold the bars as authentic to people in central Oregon, according to police.
Investigators described the suspects as "sophisticated" in using multiple ways to conceal their identities and scheme.
The teens identified people interested in buying gold through Craigslist and then set up meetings to make the transactions.
By GCRU Gold News on Friday, March 24 2017, 02:03
If only it was that easy for the rest of the once dominant South African gold industry. After more than a century as the world’s top producer, the country has slipped to No. 7 over the past decade. Mines are deep, labor intensive and are being developed with mostly drill-and-blast methods little changed since the 1950s, which means costs have soared and output has dropped.
“South Africa is endowed with an unbelievable mineral resource,” said Neal Froneman, the chief executive officer of Sibanye Gold Ltd., the biggest producer of South African gold. “If we don’t have this shift to a new way of thinking about technology, we are going to sterilize resources. The industry will be dead by 2033 if we don’t change.”
By GCRU Gold News on Friday, March 24 2017, 01:11
Facing much difficulty in import of dore, the term for unrefined gold, India's only refinery with LBMA (London Bullion Market Association) accreditation, MMTC Pamp, has diverted its focus on domestic jewellery scrap collection, to meet its raw material needs.
A joint venture between government-owned MMTC and Switzerland-based Pamp SA, the world’s leading bullion refiner, it has set up 10 scrap collection centres across major cities. These have testing machines and other equipment needed for checking purity of gold content in used jewellery. With these, it has recovered three tonnes of gold through scrap jewellery so far this financial year.
By GCRU Gold News on Friday, March 24 2017, 01:02
Gold has staged an impressive rebound since the Federal Reserve raised interest rates last week and reiterated that the pace of increases will accelerate. But is a rally logical?
Wednesday, March 22 2017
By GCRU Gold News on Wednesday, March 22 2017, 11:35
Swiss gold imports/exports for February
By GCRU Gold News on Wednesday, March 22 2017, 01:05
Over 10,000 items from a gold and silver treasure dating back to the Ming Dynasty 300 years ago have been discovered at the bottom of a river in China.
The monumental trove, which had been sitting at the bottom of a river in southwest China’s Sichuan Province for over 300 years, was unearthed by archaeologists.
A large number of gold, silver, and bronze coins were among some of the items recovered at the junction of the Minjiang and Jinjiang rivers about 50 kilometers (31 miles) south of Chengdu, the archeologists said on Monday.
By GCRU Gold News on Wednesday, March 22 2017, 01:03
The correlation between gold prices and US nominal interest rates recently dropped to near record lows, which prompted some financial analysts and media sources to predict that further Fed interest hikes will inevitably lead to lower gold prices. However, proper analysis shows that gold prices move with real-interest rates, not nominal rates. And while nominal interest rates are likely to rise further, real-interest rates are not, because inflation expectations are moving higher as well. In fact, we believe that even if the economy allows the Fed to raise rates several percent higher, real-rates have likely peaked and thus gold prices troughed. Being already in the second longest economic expansion in US history, odds are that the economy will begin to slow long before the FED has raised rates to its 3% forecast, which means that the ensuing monetary easing will push real-interest rates into negative territory and gold prices higher again.
By GCRU Gold News on Wednesday, March 22 2017, 00:51
For precious metals, the “blockchain” is nature and natural law. Holding gold in your hands requires no reference to a block of bits or bytes to tell you what you own and requires no future exchangeability to establish its long-run value. It’s weight, its elemental classification, its ability to resist entropy, its cost in energy, are all endowed by nature. It’s utility as a commodity money, jewelry money, or its optional input value as a commodity in the production of goods is what sets the marginal demand through time. To its owner, gold is more valuable at rest than it is in an exchange.
Tuesday, March 21 2017
By GCRU Gold News on Tuesday, March 21 2017, 22:24
But while most investors focus on the potential for increasing demand, few consider if supplies will be able to meet that demand. And if supplies can’t keep up with demand, that should lead to much higher gold prices.
And according to the Thomson Reuters report, there are “few new projects and expansions expected to begin producing this year, and those in the near-term pipeline are generally fairly modest in scale, hence our view that global mine supply is set to continue a multiyear downtrend in 2017.”
By GCRU Gold News on Tuesday, March 21 2017, 22:22
Intercontinental Exchange has delayed the launch of clearing for London's benchmark gold price because not all participants in the auction will be ready, two sources involved in the process said on Tuesday.
The delay could weaken its bid to become the dominant exchange in London's $5 trillion-a-year bullion market, sources say.
By GCRU Gold News on Tuesday, March 21 2017, 01:08
As long as supply and demand for physical gold are in rough equilibrium, there is no catalyst for a sudden spike in gold prices, apart from the usual geopolitical flight to quality demand. But, as soon as demand begins to overwhelm supply, then it’s “game on” for significantly higher physical gold prices followed by the toppling of the inverted pyramid of paper gold contracts.
Monday, March 20 2017
By GCRU Gold News on Monday, March 20 2017, 23:28
Russia adds 300,000oz during February
Saturday, March 18 2017
By GCRU Gold News on Saturday, March 18 2017, 06:34
By GCRU Gold News on Saturday, March 18 2017, 06:32
By GCRU Gold News on Saturday, March 18 2017, 02:01
By GCRU Gold News on Saturday, March 18 2017, 01:58
Gold premiums rose in China this week as traders said supply of the precious metal was limited due to tightening import restrictions to stem currency outflows.
Premiums climbed to over $20 an ounce against the international benchmark from $15-$17 last week.