Tag - Gold

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Friday, March 16 2018

Russian Plane Loses 3 Tons Of Gold On Takeoff

In the west there is "helicopter money." In Russia, they do "airplane gold."

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Friday, March 2 2018

Texas Endowment to Review $1 Billion Gold Position, New CEO Says

“We’re in no rush to sell but it may not be a long-term strategic hold,”

Richard Hall, the former head of private equity at Harvard University endowment and now Utimco’s new deputy chief investment officer, said Utimco invested in gold after the credit crisis, when it was seen as a hedge against a collapse in the value of currencies. “Those systemic risks are not as prevalent,” Hall said.

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Wednesday, February 28 2018

CPM Gold Outlook 2018

From Fear to Greed: The changing character of gold investment demand.

Crypto-currencies are not the big distraction for investors from gold

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World's Oldest Gold Trader Fails To Find A Buyer

And so the chapter on the world's oldest gold traders comes to a close: ScotiaMocatta traces its origins to 1671 and is one of a dozen firms behind the London gold fix. It’s also part of a group of nine banks that sets the silver price in London. And, in light of the ongoing scandal that may have permanently tainted Scotia, preventing it from winning new warehousing business, the fabled history of one of the most venerable precious metal traders is likely to come to an end in the very near future.

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Scotiabank pulls plug on sale of metals business

Canadian lender Bank of Nova Scotia said on Tuesday it would keep its ScotiaMocatta metals trading business, ending months of speculation that it could be sold, and the bank also reported earnings that beat market expectations.

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Wednesday, February 14 2018

Idaho votes not to tax income from silver and gold sales

The Idaho State House today overwhelming approved a bill which excludes gains or losses on the sale of precious metals, coins, and bullion from an Idaho taxpayer's taxable income.

Utah and Arizona already have similar measures to remove income taxes from the monetary metals. Legislators in Wyoming, Kansas, Tennessee, and Alabama are working to exempt precious metals from sales and use taxes – just like Idaho and over 35 other states have already done.

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Tuesday, February 6 2018

Gold Demand Trends Full Year 2017

Gold demand rallied in the closing months of 2017, gaining 6% year-on-year (y-o-y) to 1,095.8 tonnes (t) in Q4. But it was too little, too late: full year demand fell by 7% to 4,071.7t. ETF inflows, although positive, lagged behind 2016’s stellar growth. Central banks added 371.4t to global official gold reserves, 5% down on 2016’s net purchases. Bar and coin demand fell 2% on a sharp drop in US retail investment. India and China led a 4% recovery in jewellery, although demand remains below historical averages. Increased use of gold in smartphones and vehicles sparked the first year of growth in technology demand since 2010.

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Thursday, February 1 2018

What's Happening (or Not) at the LBMA

This article is in 3 parts and covers a) upcoming trade reporting in the London gold market which is being led by the London Bullion Market Association (LBMA), b) the recent publication by the LBMA of a Guide to the London OTC precious metals markets, and c) an update on monthly vault reporting which the LBMA and the Bank of England launched in 2017.

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Thursday, January 25 2018

Confiscation of Gold by the Federal Government: A Lesson

It’s a prudent idea to protect yourself against the government’s perpetual urge to depreciate its currency. But if pushing comes to shoving, how do you protect yourself against the government’s confiscating the assets you so prudently acquired—and its being willing to put you in prison if you try to keep them? What governments, even democratic ones, are willing to do when under sufficient pressure, is a lesson Bitcoin holders and everybody else can usefully consider.

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Wednesday, January 24 2018

Gold as a Strategic Asset

Our analysis shows that adding 2%, 5% or 10% in gold over the past decade to the average pension fund portfolio would have both increased returns and reduced volatility, resulting in higher risk-adjusted returns.

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Monday, January 22 2018

World Gold Council investigates standard for gold kilobars

The World Gold Council (WGC) is studying the creation of a global standard for gold kilobars so they can be deployed as collateral in futures markets and potentially encourage demand, sources close to the matter said.

Kilobars 1 kilogram gold bars dominate Asian trade but a lack of transparency about their origin and the absence of a global standard hinders their use on exchanges elsewhere.

Clearing houses, some of which allow bullion to be used as collateral on futures markets, might accept such bars if they all met a set of internationally recognized criteria.

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Saturday, January 20 2018

Gold Sales Spike During Crypto Market Crash, Highlighting Inverse Correlation

This week has been very volatile for Bitcoin and several industry insiders cited by Bloomberg believe that investors are looking for more stable assets in the meantime. Bitcoin, along with most other cryptocurrencies, experienced a crash of over 40% this Tuesday, Jan. 16 that lasted until Jan. 18, potentially causing a spike in gold investment.

Marburger told Bloomberg that gold coin sales increased fivefold on Jan. 16, the same time cryptocurrencies were crashing.

Tuesday was a hell of a crazy day,” Marburger said, adding that “emails and phones did not stand still with customers asking how they could turn their crypto into gold.”

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Thursday, January 18 2018

Confirming the Big Change In 2017

What determines the price of gold? It seems like it should be an easy question to answer, but gold more than perhaps any other asset often mystifies in its behavior. Part of the reason is mainstream, orthodox Economics and its practitioners who have waged an intentional war on the metal for more than a century and a half. Demonizing it has effectively meant a lack of fundamental study.

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Saturday, January 13 2018

Gold is getting top bank asset status in Canada

Basel III" rules for banking stability will be fully applied to Canadian banks by 2019 and give gold bullion the highest status as a risk-free asset.

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Thursday, January 11 2018

15 Greatest Gold Heists of All Time

Gold is valuable and extremely rare, and therefore the yellow metal is usually protected at all costs. However, there have been multiple occurrences in history where evildoers have breached security measures and bullion has fallen into the wrong hands.

Today we count down the stories of everyday henchmen, terrorist groups, and nation states that have all stolen large swaths of gold loot. This includes notable worldwide events such as the Spaniards’ metal extraction from the New World, famous and recent ISIS raids on banks in the Middle East, and two significant transfers of wealth in WWII that occurred through the use of force.

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Saturday, December 2 2017

Russia, China and BRICS: A New Gold Trading Network

It seems that slowly and surely, the major gold producing nations of Russia, China and other BRICS nations are becoming tired of the dominance of an international gold price which is determined in a synthetic trading environment which has very little to do with the physical gold market.

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Tuesday, November 28 2017

Goldmoney Announces Joint Venture Letter of Intent with Zhaojin Mining to Launch Goldmoney China

Goldmoney, a gold-based financial service and technology company, today announced that following several months of negotiations and planning, founders Roy Sebag and Josh Crumb have signed a non-binding Letter of Intent in Zhauyuan, Shandong Province, China at the headquarters of Zhaojin Mining, formalizing a joint venture framework whereby Goldmoney, Taojinyn, and Zhaojin will together jointly launch and operate a local version of Goldmoney in mainland China which will be named Goldmoney® China.

The primary function of the JV will be to maintain a local version of the Goldmoney website and mobile app, translated to Chinese with fully localized customer service and marketing operations.

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Monday, November 27 2017

Store Gold in Minced Meat? 26 Ways to Store Gold

There are many places to store gold and other precious metals in your home, with some places more secure and covert than others. Luckily, since physical gold has a high value-to-weight ratio, for most people, storing their gold bars and gold coins won’t take up too much space.

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Sunday, November 26 2017

BRICS countries mulling formation of single gold trade system

The regulator plans to take first steps towards formation of a single trade system with the People’s Republic of China in 2018

"The traditional (trade) system based in London and partially in Swiss cities is becoming less relevant as new trade hubs are emerging, first of all in India, China and South Africa. We are discussing the possibility to establish a single (system of) gold trade both within BRICS and at the level of bilateral contacts," he said, adding that this system may serve as a basis for further creation of new benchmarks.

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Thursday, November 23 2017

28 Reasons to Buy Physical Gold

Throughout human history, gold has constantly emerged as an unparalleled form of savings, investment and wealth preservation. Due to its unique characteristics and features, gold has inherent value and cannot be debased. When holding physical gold, there is no counterparty risk or default risk. Wealth in the form of gold can also be held and stored anonymously.

From its ability to retain its purchasing power over time, to its safe haven status in times of financial turmoil and uncertainty, to gold's ability to diversify investment risk, there are many and varied reasons to own physical gold in the form of investment grade gold bars and gold coins.

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