Mainland China Imports over 100,000 kg of gold From Hong Kong in April

China Gold Year of Dragon

The flow of gold into China hit a record level of 102,525 kg in April according to reports issued from the Hong Kong government. That is the second highest monthly import totals on record. The all-time record is 102,525 kg imported in November, 2011. Also in April, the Chinese export of gold into Hong Kong [...]

Bank of America Analyst Macneil Curry says Gold Prices Could Reach $7000

World Gold Prices

A Bank of America analyst predicted that the price of gold will hit $7,000 per ounce before it comes crashing to earth. Analyst MacNeil Curry explained his reasoning at the Market Technicians Association meeting in April by outlining how a long climb up by a commodity usually ends with a massive speculative blowup at the end. When [...]

The Billionaires’ Club Wants To Go To Space

Asteroid in Space

A few of the richest men on the planet have recently decided that they want to go play in space. Specifically, they want to start mining near-Earth asteroids for gold, other precious metals, and other more mundane but equally valuable resources. That sounds like a fantastic idea. While on the surface it’s a purely money-driven [...]

Gold Traders Watch as Fed Speeches Impact Price of Gold

Gold investment

Eighteen months ago, speculators listened to speeches from the Fed hinting at Qualitative Easing, round two. Gold rose steadily for four months as a result. Just over six months ago, Bernanke announced the rate lock for the next two years, pushing gold to record breaking heights, topping out at just over $1,920 per troy ounce. [...]

India Increases Customs Duty on Gold

India Gold

The strike by Indian jewelers continued to roil the gold market as the work stoppage by gem and jewelry companies rolled into its fourth day. Gold artisans and small businesses across the Indian continent are protesting the increase in the excise duty on imported gold and an additional one percent excise duty hike on unbranded [...]

Dubai Based Bank offers Gold Investment Account

Dubai Marina, United Arab Emriates

A new Gold Investment Account (GIA) launched by Emirates NBD in Dubai offers customers the opportunity to buy the precious metal electronically. This GIA is the first of its kind in the region. It allows customers to own the yellow metal without needing to move or store the physical. Customers with a savings account in [...]

Gold Rate Climbs on Greek Bailout

Bailout

The recent bailout on Tuesday, another in a long series of cash infusions by the European powers into the sinking ship that is Greek public debt, had a curious and different effect on the markets than similar bailouts have in the past. Rather than causing euro currency markets to go up and stocks to rise, [...]

Rising Gold and Oil Prices Push Canada’s Dollar Higher

Canada Flag

Near the end of July 2011, the Canadian dollar (FX symbol CAD) made its low for the year versus the U.S. dollar (FX symbol USD), at just a little better than $0.94 per USD. The high for 2011 came in early October, when each Canadian dollar would be the equivalent of just under $1.07 USD. [...]

Singapore Seeks to Attract Gold Traders by Dropping Taxes on Precious Metals

Singapore

The trading of gold has become so prevalent lately that countries are doing everything they can to attract investors, and Singapore is no exception. Though they are currently doing well with regards to the global view of them as a safe place for investment, they are having trouble competing with some of their neighbors. In [...]

Presidential Contender Ron Paul Speaks Out for a Return to the Gold Standard

Republican pic

Republican presidential contender Ron Paul has always been a very vocal person when it comes to expressing his beliefs. He has a reputation for addressing issues directly, whether his views are popular or otherwise and often goes against the majority of public opinion. One issue where Paul is speaking against the grain once again is [...]