Further supporting our recent news items on China wanting to diversify out of the US dollar is this story from mineweb which reports that Chinese state-controlled organisations are being pressured to invest in non-Chinese entities along with commodities. Sovereign Wealth Fund analysts were reportedly working around the clock to put together oil and precious metals deals that […]
Category Archives: Latest Gold News
Short snippets of Gold and related news
Zimbabwe’s Central Bank Governor Gideon Gono has suggested reviving the Zim dollar by linking it to the gold reserves they hold in the country. “We can even print gold coins. The Zim dollar can then gain as it is anchored on gold. We need to think outside the box.” Wouldn’t that be Ironic? Not surprisingly […]
Following on from last months news item that China doesn’t trust the US Dollar, further evidence of the fact care of China Daily…. China has reduced it’s net holdings of US treasury debt by 3.1% to $776.4 billion during the month of June 2009. This is Chinas first reduction this year, but it’s the biggest […]
Central banks have just signed a new Central Bank Gold Sales Agreement that reduces the quota of gold bullion they can sell each year by 20%, down to 400 tonnes. However in the last 5 years central banks gold sales had only reached about 75% of the previous agreements limit anyway. It seems that Central banks […]
The UK royal mint has doubled it’s gold output over the last year due to surging gold investment demand. However gold production fell 41% in the second quarter compared to the prior quarter. This was while global stock markets surged higher. Could it be that everyone thinks it safe to get back in the water, hence the recent drop off in […]
Chris Puplava over at FinancialSense.com has recently published an article discussing possible strength of the gold market in the second half of 2009. We provide a link to the article here, and we summarize his arguments below, with our added comments highlighted in red. Over the last year Chris has developed two proprietary gold market […]
Germany recalls the 1920’s Weimar hyperinflation. The average German now has access to Gold coins and bars via vending machines in locations such as Frankfurt Airport. Click here for the full article…