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Category archives for: Gold History

Gold Trades Flat On China Economic Data And Euro Zone Summit; Conflict-Free Gold Standard Announced @GOLDCOUNCIL

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Gold traded flat on Thursday as investor’s focused on the European Union summit and China’s economic slow down for a 7th quarter. “In the short term, the $1,730 support level will continue to feel a lot of pressure as investors focus on the euro zone summit,” said Chen Min, an analyst at Jinrui Futures in [...]

World’s 1st Yuan-denominated Gold ETF Makes HKSE Debut

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The world’s first yuan-denominated gold exchange-traded fund (ETF) made a weak debut on the Hong Kong stock exchange on Tuesday, but analysts said demand would likely pick up as investors became more familiar with the product. The Hang Seng RMB Gold ETF (83168.HK: Quote, Profile,Research, Stock Buzz), launched by Hang Seng Bank Ltd (0011.HK:Quote, Profile, Research, Stock Buzz), is intended to [...]

“This Diwali, Don’t Just Spend. Invest” – Campaign

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October 26th 2011, Diwali, was the beginning of the New Year, is the most important holiday in India and for millions of Indians around the world. Known as the “Festival of Lights”, it marks four days of family celebration on a grand scale with the illumination of homes with lights and the skies with firecrackers, [...]

Venezuela To Pull Gold Reserves Out Of US, Europe

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Venezuela will remove its international gold reserves from the US and Europe and place them in countries with ‘solid’ economies like China, Russia and Brazil, President Hugo Chavez said. ‘It’s a healthy move for the country to bring that gold … actually I think we’ve waited a long time; the economies of Europe and the [...]

Montreal Company Raided From $1.8 Billion In Sale’s ‘Gold Tax Scam’

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MONTREAL – A Montreal company that denies any wrongdoing in an alleged gold-refining tax scam said Friday it was shocked by an early-morning raid this week that came after several months of negotiations with Quebec’s tax department. Kitco Metals Inc. said it was negotiating with Revenu Quebec about its opposition to the tax assessment when [...]

Libya’s Estimated Trove Of 143 Tons Of Gold Reserve’s

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LIBYA — Abdalgader Albagrmi’s office sits above a vault piled high with gold. It’s the dwindling pile of cash next to the bullion, however, that keeps the Libyan rebels’ deputy Central Bank chief up at night. As that pile shrinks, so too does the chance of funding and sustaining a revolution to oust one of [...]

$1bn In Gold Without Paying A Royalty, 1872 Mining Law,

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WASHINGTON- A U.S. law from the pick-and-shovel days of the Western frontier now threatens natural treasures including Grand Canyon National Park as mining claims on public lands proliferate, an environmental group said on Friday. The 1872 Mining Law, signed by President Ulysses S. Grant, allows mining companies — including foreign-owned ones — to take about [...]

SA Slips To Fifth Place As World Gold Output Rises

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TORONTO – South Africa, the top gold producer for more than a century until 2007, has now slipped to fifth position, according to data compiled by metals consultancy GFMS. China was the number-one gold producer in 2010, followed by Australia ,the US and then Russia, which just edged past South Africa, the group said in [...]

World Gold Council To Shut UAE Office As Part Of Review

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The World Gold Council (WGC) will shut its office in the UAE next week due to a strategic review of their operations, it said on Wednesday. “We recently carried out a strategic review of our operations and whilst there are significant opportunities in the UAE, we do not currently have the appropriate critical mass there [...]

China imports 200 tons of gold in 2011

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BEIJING: China seems to be taking a series of initiatives to boost its gold reserves. In the last two months of 2011, China has reportedly around 200 tons of gold in an attempt to increase the country’s bullion reserve holdings. China’s official gold reserve holdings are believed to be around 1150 tons. Last year, China [...]

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