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London Gold Market Report
from Adrian Ash
BullionVault
Fri 15 Feb, 08:10 EST
Dollar Rally & Soros Sales See Gold Hit 6-Month Low as G20 Denies “Currency War”
GOLD PRICES fell again Friday morning in London, trading at a 6-month low beneath $1627 per ounce as the US Dollar continued to rise on the currency market.
Gold for Sterling investors touched a 2-week low beneath £1050, and Euro-gold held above Tuesday’s 8-month low at €1220 per [...]
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% [...]
by GoldCore Gold Bullion
Today’s AM fix was USD 1,734.75, EUR 1,345.39, and GBP 1,088.37 per ounce.
Yesterday’s AM fix was USD 1,729.75, EUR 1,344.23, and GBP 1,084.35 per ounce.
Silver is trading at $33.43/oz, €26.02/oz and £21.07/oz. Platinum is trading at $1,583.00/oz, palladium at $654.70/oz and rhodium at $1,040/oz.
Cross Currency Table – (Bloomberg)
Yesterday New York was closed for the American holiday of Thanksgiving. Today trading finishes at noon. With very little data [...]
London Gold Market Report
from Ben Traynor
BullionVault
Tuesday 13 November 2012, 07:30 EST
Euro Spikes from 2-Month Low Following Greek Bailout Story, Gold Deposits “Getting Harder to Find” says Barrick
PRICE FOR gold bullion on the wholesale market rose to $1730 an ounce this morning in London, after drifting lower overnight, as the Euro jumped half-a-cent against the Dollar following a report that the German government is considering a plan to speed up the payment [...]
http://gizadeathstar.com/2012/11/the-list-has-grown-switzerland-the-netherlands-and-ecuador-join-germany-in-calls-for-audits-of-their-gold/#ixzz2BpaCHvE6
“The calls for full audits, and in some cases, repatriation, of foreign gold reserves being held by the New York Federal Reserve are growing, as now Switzerland, the Netherlands, and Ecuador have joined Germany in those calls and in Ecuador’s case, repatriation, of its gold:
German Calls for Gold Repatriation Intensify As Fed Refuses to Allow Inspection
Obviously, the Fed’s refusal to comply “in the interest of security” is a complete fabrication [...]
The Physical Gold story is growing !!
HANOI–The State Bank of Vietnam, the country’s central bank, may allow local banks to buy up to 20 metric tons of gold over the next two months to improve their liquidity ahead of a ban soon on their use of gold as a means of boosting their operating capital, a senior central bank official said in a statement issued Friday.
Banks have bought more than [...]
The deadline when local commercial banks will be prohibited from mobilizing gold deposits is now just a month and a half away, but the question of how the State Bank of Vietnam will deal with the massive amount of public gold reserves after the ban comes into effect remains unanswered.
On April 29, 2011 the central bank halted gold mobilization at banks, but lifted the ban a year later, ruling that [...]
By ELEAZAR DAVID MELÉNDEZ
The world’s major miners are not discovering enough gold deposits to make up for all the extraction they have engaged in over the past decade and a half, a fact that suggests the scarcity of the precious yellow metal could grow in coming decades.
That’s according to a new report by Canada-based Metals Economics Group, which found that the estimated 289.8 million ounces added to the on-the-ground reserves of [...]
by GoldCore
Today’s AM fix was USD 1,589.25, EUR 1,271.40, and GBP 1,025.65 per ounce.
Yesterday’s AM fix was USD 1,593.00, EUR 1,264.79, and GBP 1,023.45 per ounce.
Silver is trading at $28.67/oz, €22.92/oz and £18.52/oz. Platinum is trading at $1,448.00/oz, palladium at $618.00/oz and rhodium at $1,200/oz.
Gold 1 Month Chart – (Bloomberg)
Gold climbed $5.60 or 0.35% yesterday in New York and closed at $1,600.20/oz despite stock markets giving up early gains on [...]
From FT:
Global gold production may have hit a record last year, but that doesn’t mean the stuff is getting easier to find. Clarus Securities analyst Laurie Curtis wrote that the growing difficulties in finding gold suggest that high-grade deposits will command a stronger premium over time.
Citing data from the Society of Economic Geologists, Mr. Curtis noted that the number of deposits and total ounces found peaked in [...]
Silver promises to become the nextbig buzzword among investors in 2011 and beyond, according to one of the investment industry’s most prescient and successful experts on precious metals.
Eric Sprott is the founder of the Toronto-based investment firm, Sprott Asset Management LP. His renowned hedge fund, Sprott Hedge Fund LP, is heavily weighted in precious metals and has generated an estimated 23% annualized return over the [...]
http://uk.reuters.com/article/idUKWLB199…
Quote:
The Soviet Union’s largest gold mine was located at Makmal in Kyrgyzstan, and in the Soviet period Kyrgyzstan’s 170 proven deposits put it in third place behind only Russia and Uzbekistan in gold production in the union. Two more promising deposits, at Kumtor and Jerui, have been discovered. Kumtor, said to be the seventh-largest gold deposit in the world with an estimated value of US$5.5 billion, is being explored by [...]
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