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Wednesday, April 19 2017

Russia's Largest Bank to Facilitate Direct Gold Trade Between Russia and India

Sberbank is looking to finance the direct import of gold to India,

Direct gold trade between India and Russia would be immensely beneficial to both countries.
“We are also exploring the possibility of entering the gold loans sector as well.”

India is the world’s second largest importer of gold. The country imported $35 billion worth of gold in 2015.

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Friday, April 14 2017

U.K. Royal Mint's Gold Sales Jump 20% Amid Political Turmoil

The U.K. Royal Mint’s gold sales jumped by a fifth in the first three months of the year, according to figures obtained under freedom of information legislation.

Following month-on-month declines in the first two months, March gold sales jumped 263 percent in volume-terms, according to the information sent by email. Gold sold and stored by the mint under its Signature Gold program, which allows the partial ownership of bars held in its vault, jumped 178 percent in March, compared with a year earlier.

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Thursday, April 13 2017

CME Group is launching a gold-trading platform inspired by bitcoin

Pretty soon, pension funds and other institutional traders will be able to buy and sell gold on a platform inspired by the digital currency bitcoin.

U.S. futures and options exchange CME Group announced on Tuesday that it is in the final stages of testing a venue for trading spot gold that’s based on the blockchain, the pioneering distributed-ledger technology that powers the bitcoin network.

CME built the platform in partnership with the U.K. Royal Mint, which has helped supply $1 billion in gold bullion to back transactions executed on the network. Blockchain companies AlphaPoint and BitGo helped develop the software and trading platform.

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Turkey to Confiscate Gold in New Clever Way – To Help Citizens Earn Money

The dwindling credit of Turkey and significant decline in its currency, has led to the new clever idea of confiscating gold with a smile. The Turkish Central Bank has come up with an idea of how to confiscate private gold while pretending they are helping you earn more money. Their objective is to make the private gold stocks of the citizens available to the financial system for themselves, but how to sell that to the people?.

The Turkish central bank is launching two new investment opportunities for physical gold, according to reports in the Daily Sabah . They are issuing a gold bond on one hand and on the other an instrument for the loan of gold and gold jewelry.

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Tuesday, April 11 2017

Man finds £2 million of gold in tank he bought for £30,000

A man who bought a tank on eBay for £30,000 got more than his money’s worth after he discovered £2 million of gold bars hidden in the fuel tank.

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Friday, April 7 2017

Tax shock could shake coins and bullion

Financial news yesterday said the Trump Administration was considering a value added tax as part of its tax reform.

That should scare all coin collectors.

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Thursday, April 6 2017

German and Swiss Precious Metals Refiners join forces as Heraeus acquires Argor-Heraeus

German precious metals group Heraeus Precious Metals (HPM), part of the Heraeus industrial group, has just announced the full acquisition of Swiss precious metals refining group Argor-Heraeus. Heraeus is headquartered in Hanau, just outside Frankfurt. Argor-Heraeus is headquartered in Mendrisio in the Swiss Canton of Ticino, beside the Italian border.

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Wednesday, April 5 2017

Why Islamic Finance Is Set to Transform the International Gold Market

According to data from the World Gold Council, the most popular Islamic assets have all underperformed when compared to gold, as have the major currencies that are traded in that region of the world. This suggests that Islamic investors will be looking to shift a substantial proportion of their assets into gold products in the hope of more lucrative returns.

Given that this new block of investors can now be unleashed on the gold market, if even a mere 1 percent of the overall value of Islamic investment is allocated to the yellow metal, it would be equivalent to approximately USD 65 billion or 1,700 tonnes of new global demand, nearly double China’s estimated total demand for gold in 2015. Furthermore, given that the global gold demand-supply balance indicates the existence of a small market surplus of less than 200 tonnes at present, the introduction of Islamic investors could dramatically tighten the market, resulting in a hugely bullish outcome for gold prices during the coming years.

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Turkey to introduce sovereign gold bonds, gold lease certificates

Deputy Prime Minister Mehmet Şimşek announced that they will add two new secure investment tools to the financial system; namely, gold-denominated bonds (sovereign gold bonds) and lease certificates (sukuk) denominated in gold in order to bring under-the-mattress gold into the economy.

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Tuesday, April 4 2017

Did Neutron Stars or Supernovas Forge the Universe’s Supply of Gold?

A cross history and folklore, the question of where Earth’s gold came from — and maybe how to get more of it — has invited fantastical explanation. The Inca believed gold fell from the sky as either the tears or the sweat of the sun god Inti. Aristotle held that gold was hardened water, transformed when the sun’s rays penetrated deep underground. Isaac Newton transcribed a recipe for making it with a philosopher’s stone. Rumpelstiltskin, of course, could spin it from straw.

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Thomson Reuters publishes GFMS Gold Survey 2017

Global mine production posted another annual increase and in so doing chalked-up another fresh all-time high to reach 3,222 tonnes. The rise, however, was modest and in our view these record breaking habits are close to an end. The growth rate has roughly halved every year for the last three years, partly as output from new mines has slowed and we expect production to contract in 2017. Highlights last year included an 8% rise in the United States elevating the country to a nine-year high and a 4% increase in Australia taking them to a 16-year high. The biggest losses originated in Mexico, Peru and Mongolia.

Scrap supply rose 8% in 2016 to 1,268 tonnes, aided by the rising gold price and a 50% surge in Indian volumes. Indian flows were at their highest for more than a decade as higher prices encouraged destocking from consumers, as did a lack of available credit from the domestic banking system.

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Thursday, March 30 2017

What sets the Gold Price - Is it the Paper Market or Physical Market?

BullionStar’s CEO Torgny Persson and precious metals analyst Ronan Manly are of the opinion that due to the structure of contemporary gold markets, it is primarily trading activity in the paper gold markets which sets the international price of gold.

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Wednesday, March 22 2017

The Natural Order of Money and Why Abstract Currencies Fail

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.

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Friday, March 17 2017

US Interest Rates vs Gold

Click link for chart

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Wednesday, March 15 2017

Idaho House of Representatives Votes Overwhelmingly to Remove Income Taxation from Precious Metals

By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars.

Bill sponsor Representative Mike Moyle (R) and the entire Republican caucus voted for the measure. If the Republican-controlled Idaho Senate follows suit and Governor Butch Otter (R) signs the bill, Idaho citizens will better be able to use gold and silver as a form of savings which protects against ongoing devaluation of America’s currency.

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Sunday, March 12 2017

Egon von Greyerz meets with Grant Williams

In this fascinating interview on RealVision TV, Grant Williams and Egon von Greyerz cover a very broad range of subjects from gold, wealth preservation to debt, interest rates, Brexit, the EU and much more.

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Friday, March 10 2017

What Drives the Price of Gold?

Last year, gold had its best first half of the year in decades, all in response to Fear Trade factors such as low to negative global government bonds and geopolitical risks, specifically Brexit and the upcoming U.S. election.

But the Love Trade failed to lift gold in the fourth quarter mainly because Indian Prime Minister Narendra Modi’s demonetization efforts to combat dark money and tax evasion left many low and middle-income Indians without the cash to purchase gold jewelry for weddings and investment purposes.

Investing, like life, is all about managing expectations. But if you don’t know what to look for, this can be difficult to do. That’s why we put together this video to help educate investors like you on what we believe are the top five drivers of gold.

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Thursday, March 9 2017

Sprott makes $3.1-billion US hostile bid for Calgary-based Central Fund of Canada

Toronto-based Sprott Inc. said Wednesday it's making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.

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Arizona Committee Passes Bill to Treat Gold and Silver as Money, Remove Capital Gains Taxes

Under current Arizona law, gold and silver are subject to capital gains tax when exchanged for Federal Reserve notes, or when used in barter transactions. If the purchasing power of the Federal Reserve note has decreased due to inflation, the metals’ nominal dollar value generally rises and that triggers a “gain.” In most cases, of course, the capital gain is purely fictional. But these “gains” are still taxed — thus unfairly punishing people using precious metals as money.

“We ought not to tax money, and that’s a good idea. It makes no sense to tax money,” said Paul. “Paper is not money, it’s a substitute for money and it’s fraud,” Paul continued, noting the importance of honesty money vs federal reserve notes.

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Friday, March 3 2017

Myths of Gold Confiscation

If we experience a debt crisis, as many economists believe is inevitable, many people believe that their holdings of gold and silver bullion will be confiscated, just as in 1933. This article reviews the probability of confiscation and compares it to other more likely measures to generate government solvency.

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