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The central bank has also put more curbs on lending against gold. Banks would no longer grant advances for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold exchange traded funds and units of gold mutual funds.
http://businesstoday.intoday.in/story/rbi-policy-gold-import-funding/1/194654.html
More here !
NEW DELHI: The Reserve Bank of India(RBI) has proposed that banks restrict the facility of advancing loan against gold coins to a maximum weight of 50 [...]
London Gold Market Report
from Ben Traynor, BullionVault
Wednesday 24 April 2013, 07:45 EST
Gold “Being Lifted by Physical Bar Demand” But Silver “Relatively Weak”
THE U.S. DOLLAR gold price drifted back down towards $1420 per ounce Wednesday morning in London, around 1.3% up on the week so far, amid ongoing reports of strong demand for physical gold bullion.
“The bounce in price-sensitive physical demand, especially in the emerging world, is impressive and has lifted prices,” says HSBC [...]
From Bloomberg:
Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as futures dropped the most in more than eight years. John Paulson maintained his holding.
Soros Fund Management LLC reduced its investment in the SPDR Gold Trust, the biggest fund backed by the metal, by 55 percent to 600,000 shares as of Dec. 31 from three months earlier, a U.S. Securities [...]
by GoldCore Gold Bullion
“Gold From The ATM” In Turkey As Gold Deposits Surge In Turkish Banks
Today’s AM fix was USD 1,747.25, EUR 1,347.56, and GBP 1,090.87 per ounce.
Friday’s AM fix was USD 1,734.75, EUR 1,345.39, and GBP 1,088.37 per ounce.
Gold rose $21.80 or 1.26% in New York on Friday and closed at $1,751.20. Silver hit a high of $34.16 and finished with a gain of 2.19%. Gold was up 2.28% [...]
rom an interview with The Gold Report:
Ongoing inflation pressures and China’s investments in the African gold supply chain point to a higher gold price, according to Matt Badiali of Stansberry & Associates. Bullion in all its forms belongs in every portfolio… And when it comes to equities, investors have their choice of business models — dividend-payers, prospect generators, and royalty companies. In this exclusive Gold Report interview, Badiali outlines companies whose equities should [...]
From Frank Holmes of U.S. Global Investors:
After a year of neglect from investors who favored bullion, gold equities need resuscitation. Going back to April of last year, gold stocks have been undervalued compared to bullion. I discussed this disconnect back in June 2011 and again in August.
This trend has been accelerating recently: At the end of March, the spread between the NYSE Arca Gold Miners Index and gold bullion was [...]
Richard Russell, long-time author of the Dow Theory Letters, continues to be bearish on the financial markets and the global economy.
Lately, the only things he’s bullish on is gold and…guns.
From King World News:
If the government does provide a large round of stimulus … (we) will see the end of fiat money and probably a new monetary system and a new governmental system. Europe and Asia will both go through chaos. Immigration [...]
Even if they’re not the cheapest coins to buy you could save a bundle when selling in the UK.
According to BullionByPost:
Manufacturer: Royal Mint
Weight (grams): 34.05
Pure gold content (grams): 31.10348
Fineness: 916.7
Dimensions: 32.60mm Diameter x 2.79mm Thick
Stock: In Stock
Brand new 2012 One Ounce Gold Britannia Coins.
Gold Britannias are the most popular one ounce gold coin for larger UK based private investors, as they are exempt from Capital Gains Tax (CGT).
A British bullion gold coin first introduced in 1987 with [...]
An Austin-based commemorative coin marketer has agreed to pay $5 million in restitution to customers to settle allegations of deceptive trade practices.
Under an agreement with the Texas attorney general’s office, U.S. Money Reserve Inc. — which does business as U.S. Rare Coin and Bullion Reserve — admitted no wrongdoing but agreed to change its sales practices.
In an investigation into the company’s marketing of commemorative gold coins, state officials said customers [...]
From Gold Core
‘Worst Ever’ OPEC Meeting Sees Oil Rise Sharply – Inflation Pressures, Growth and Sovereign Debt Concerns Support Bullion
Gold is marginally lower while silver is showing strength again today after yesterday’s ‘worst ever’ OPEC meeting ended in disarray and saw oil prices surge. Markets await today’s ECB rate decision and signs as to whether interest rates are set to rise sooner rather than later. Signs [...]
From GoldCore
COMEX Registered Silver Bullion Inventories Fall Sharp 38.5% in Two Weeks – Risk of COMEX Silver Default Remains
Spot gold and silver prices rose slightly again this morning after hitting a one-month high yesterday as equity markets internationally came under selling pressure. The Moody’s downgrade of Greece and worryingly poor US economic data again pushed investors to seek the safe haven of bullion. Gold reached [...]
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