UAE Gold sales increase by 56% in Q3 2008 ...
UAE:
UAE gold sales increased by
56% in the third quarter of the year to reach AED4.3 billion
compared to AED2.8 billion in the same period of the previous
year ...
cont ...
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Video:
Max Keiser: COMEX Silver Raid Coming this December ...
Max Keiser, an international
financial reporter claims the COMEX is going to be raided this
December by international players who will demand massive
delivery of "real" Silver Bullion ...
cont ...
|
Perth Mint suspends orders amid overwhelming demand ...
With retail and wholesale
clients around the world stocking up on the precious metal, the
Perth Mint has been forced to suspend orders. Perth Mint sales
and marketing director Ron Currie said the unprecedented demand
had forced the Mint to cease orders until January, with staff
working seven days a week, 24-hour days, over three shifts to
meet orders ...
cont ...
|
Chris Powell of GATA says its time to let Gold run ...
United
States:
Chris Powell of GATA says
its time for Central Banks to get out of Gold's way... and let
the Gold price run ...
cont ...
|
Chinese Investors going for gold as a safe haven ...
China:
Demand for gold in China
rose 18 percent in the third quarter as consumers turned to the
precious metal as a safe haven for their cash, the World Gold
Council said yesterday. Demand rose to 109 tons in the third
quarter, the majority of which is attributed to a strong rise in
the Chinese mainland ...
cont ...
|
Chinese individual investors allowed to trade Au99.95-category
Gold ...
China:
Individual investors were
allowed to buy and sell Au99.95-category gold as of Friday at
the Shanghai Gold Exchange (SGE), the Shanghai Securities News
reported. In a notice issued on Thursday, the SGE said from
Friday it would allow individual traders to buy and sell
Au99.95, the type of gold used in the manufacturing of
ornamental items. It also said Chinese commercial banks were
free to decide the date to start individual gold investment
services ...
cont ...
|
China reported planning big shift of FX reserves into Gold ...
China:
The mainland is seriously
considering a plan to diversify more of its massive
foreign-exchange reserves into gold, a person familiar with the
situation told The Standard. Beijing is considering changing its
asset allocations during the financial tsunami in order to build
up gold reserves "in a big way ...
cont ...
|
Saudi Arabia buys $3.5bn of Gold in two weeks ...
Saudi
Arabia:
There has been an
unprecedented surge in Saudi gold purchases in the past two
weeks with over $3.5 billion being spent on the yellow metal,
reported Gulf News citing local industry sources ...
cont ...
|
Silver ETF for Dubai as they fly in bullion ...
Dubai:
The Dubai Multi Commodities
Center is understood to be putting the finishing touches to an
exchange traded fund for silver with a launch likely next month
as demand for silver has surged in the past six months. Local
bullion dealers are having to fly heavy silver bullion bars in
from around the globe to meet demand as traditional sources
closer to Dubai have been exhausted ...
cont ...
|
Pure Gold Jewellers launches new diamond collection Trillium ...
Dubai:
Pure Gold Jewellers, an
award winning jewellery retailer launched its newest diamond
collection called 'Trillium' during the Dubai International
Jewellery Week. Presented in 18K white and yellow gold, every
piece in the collection is set with the finest cut diamonds in
scintillating trilogy setting ...
cont ...
|
Gold demand rises strongly in Saudi Arabia ...
Saudi
Arabia:
There has been an
unprecedented demand for gold in the Saudi market recently, with
over 13 billion Saudi riyals (Dh12.75 billion) being spent on
the yellow metal during the last two weeks ...
cont ...
|
South Africa's gold production drops 17.7 percent ...
South Africa's gold
production dropped 17.7 percent by volume in September compared
to one year ago, the national statistics agency said Thursday.
Total mining production for the month was down 3.5 percent
year-on-yaer, Statistics South Africa said ...
cont ...
|
RBC sees gold going higher next year ...
RBC Capital Markets
predicted gold should rally through $900/ounce in the first half
of 2009 at the firm’s annual gold conference being held in
London on Thursday ...
cont ...
|
Commodities to Be `Under Pressure', Morgan Stanley's Roach Says ...
Energy, base metals and
industrial materials will stay under ``broad-based pressure'' as
world economic growth slows, said Stephen Roach, chairman of
Morgan Stanley Asia Ltd .... the supply-demand balance, which
was viewed as a permanent justification for higher highs in the
super cycle of commodities, has unraveled ...
cont ...
|
Gold sales may rise up to 25% this marriage season ...
India:
The season (marriage) has
just begun and it is too early to say much, but there is
tremendous potential for business.... with the beginning of
marriage season and declining prices, gold is likely to glitter
more than usual in the days ahead as traders feel that sales of
gold jewelleries may go up by as much as 25% ...
cont ...
|
Jim Rogers says buy Silver ...
Legendary global investor
Jim Rogers believes the recent dollar gains are temporary and
are not based on fundamentals.... “Silver will do better than
gold,” Rogers recently said. “It’s been beaten down horribly. If
you put a gun to my head and said you have to buy one, I would
buy silver rather than gold.” ...
cont ...
|
Gold worth millions smuggled to Dubai ...
Dubai:
Gold worth millions of
rupees along with foreign exchange has been smuggled abroad,
according to fresh reports on Tuesday.... the gold and foreign
exchange mostly used to buy real estate in Dubai ...
cont ...
|
Rivoli Jewellery brings travelling exhibition of rare jewels to
Dubai ...
Dubai:
After being exhibited in
London, Paris, and Geneva, a collection of very rare jewels have
now arrived in Dubai.... these exquisite pieces are being
displayed at a special exhibition - Rivoli's Rare Jewels -
hosted by Rivoli Jewellery ...
cont ...
|
UAE made jewellery to glitter in China ...
UAE:
UAE jewellers are planning
an aggressive expansion into China which they believe will
continue to boom despite the worldwide economic turmoil....
China is an emerging retail market for diamonds and jewellery
with growth fuelled by the economic growth ...
cont ...
|
A black
market in silver, right out in the open ...
"What we have is what's
shaping up to be a state-set price of $10 for 1 troy ounce of
triple-fine.... this price, like Hugo Chavez's milk price, tells
the cattle that the U.S. dollar is OK. The reality is a pile of
Munichers and Londoners swarming around to buy whatever silver
they can at $15 an ounce while they still can ...
cont ...
|
Shandong Gold Mining to Buy 70% of Chifeng Gold Mining Firm ...
Chinese gold producer
Shandong Gold Mining Co., Ltd. said that it pland to buy a at
least 70% stake in Chifeng Chaihulanzi Gold Mining Co ...
cont ...
|
Bullion still shows its mettle as haven and inflation hedge ...
The price of gold has not
fallen as sharply as that of crude oil and other cyclical
commodities during the global financial crisis, and bullion
should strengthen relative to other commodities as economic
troubles deepen ...
cont ...
|
Dubai Gold & Commodity Exchange volume up 40% ...
Dubai:
Dubai Gold & Commodity
Exchange (DGCX) today announced a 40% growth in year-to-date
volume, reaching 1,070,914 contracts, valued at $54.1bn ...
cont ...
|
Gold
seen outperforming Oil as recession brews ...
New York:
The price of gold has not
fallen as sharply as the price of crude oil and other cyclical
commodities during the global financial crisis, and bullion
should strengthen relative to other commodities as economic
troubles deepen ...
cont ...
|
High demand reduces Gold inventory ...
Qatar:
While demand for gold in the
local market has shot up following a dip in prices, traders are
being hit by a shortage of pure gold in Dubai. Several jewellers
in Qatar said their sales had gone up 50% over the past two
weeks ...
cont ...
|
13,000 tons of Gold rest in India ...
India:
India is the world's largest
consumer of gold. Do you know how many tons of gold rest in
India? Or how the gold economy helps India? ... It is believed
that at least 13,000 tons of gold rest in India – or
approximately nine per cent of the world’s cumulative mine
production ...
cont ...
|
Riyadh police arrest Gold thief ...
Riyadh:
Police arrested a
middle-aged Saudi man who robbed 15 kilograms of gold from a
jewelry salesman in the Naseem district of Riyadh on Saturday,
press reports said yesterday. Officers tracked the suspect to
his home in the district and retrieved some of the loot from his
car ...
cont ...
|
Jim Rogers chooses Silver over Gold to beat inflation ...
Legendary investor Jim
Rogers, whose conversion to commodities as an investment class
back in 1999 preceded the end of the 20-year bear market by a
couple of months, is backing silver over gold as an asset class
to beat inflation ...
cont ...
|
Going for Gold to protect assets ...
Gulf News:
As the US and other European
economies flirt with recession, investors, banks and savers have
turned to gold to protect their assets. Rolf Schneebeli,
economic adviser for ARY gold firm and former head of the World
Gold Council, tells Gulf News why gold is considered a safe
haven ...
cont ...
|
Bahrain Saudi Arabia Running Out Of Gold ...
Bahrain:
A massive rush at jewellery
shops has led to a shortage of gold at some outlets, prompting
some shopkeepers to overcharge customers, reports Gulf News ...
cont ...
|
The Delivery Process For COMEX Gold and Silver ...
United
States:
Instructions on how to buy
cheap Gold and Silver from the COMEX ...
cont ...
|
An Upcoming COMEX Gold Default ...
United
States:
The COMEX has been
under-pricing its Paper Gold compared to the price of Real Gold ...
cont ...
|
Run on gold in Dubai as investors shun stocks and property ...
Dubai:
The famous Dubai gold souk
is running very low on gold during the Indian Festival of
Lights, Diwali as investors shun local the local stock market to
buy gold at low prices. The sudden halt to the local real estate
boom has also left investors short of options ...
cont ...
|
NYMEX no longer an accurate representation of the real price of
physical bullion ...
New York:
The
spot price of gold as quoted by NYMEX is no longer an accurate
representation of the real price at which physical gold bullion
is being traded. It is, in fact, a lie. The fact that bullion
dealers are paying and charging premiums to the spot price for
gold is clear evidence that the spot price published each day is
no longer an accurate representation of the price of gold ...
cont ...
|
US Dollar Rally Exhaustion Alert ...
Canada:
Bob Hoye sounds a US Dollar
rally exhaustion alert ...
cont ...
|
When Gold is Savaged, How do I Choose a Gold Stock? ...
United
States:
This essay looks at the
long-term criteria for selecting gold shares. The mind set for
the successful long-term gold equity owner has to recognize that
gold shines in uncertainty and doubts about the future ...
cont ...
|
Gold sales shoot up phenomenally in this festive season ...
New Delhi:
Gold sales have picked up
phenomenally after a fall in its prices to 12,000-level
following consistent steep fall in equity markets which has
boosted the demand for the metal as a safe investment option. As
per the All-India Gems and Jewellery Trade Federation (GJF)
study, about 50 tonnes of the metal has been consumed during
1-20 October against over 80 tonnes sold in whole of
October-December quarter last year ...
cont ...
|
Recapitalizing the Banks is Not Enough ...
United
States:
The infusions of equity in a
score or so of major banks in the U.S., UK, and EMU will help
prevent a deep and prolonged world-wide recession. So will the
Fed's new Money Market Investor Funding facility, which supports
unsecured short term borrowing by top-rated financial
institutions. But these steps won't help most banks to get back
to their main job -- lending to households and businesses ...
cont ...
|
Bangkok Gold outlets stop weekend bar trade due to Gold
shortages & volatility ...
Bangkok:
According to Panapong
Suttheewong, manager of the Gold Traders Association, the gold
outlets agreed yesterday to suspend trading of gold bars on
those days, citing gold's short supply and the precious metal's
frenetic price swings due to rampant price manipulations in the
market ...
cont ...
|
Dubai Gold & Commodities Exchg concludes largest ever physical
settlement ...
Dubai:
The Dubai Gold and
Commodities Exchange concludes its largest ever physical
settlement... the settlement involved the physical delivery of
908 kgs of Gold ...
cont ...
|
How to Buy Cheap Physical Gold and Silver from the COMEX ...
New York:
There is one source of cheap
physical precious metal that remains available for investors who
can act swiftly and decisively. That source is the very market
that has been mispricing the metals way too low. The COMEX,
division of NYMEX in New York ...
cont ...
|
Gold Climbs in N.Y. as Investors Seek Haven From Falling Shares ...
New York:
"You're seeing some people
buy gold because the panic about the stock market is setting
in," said Leonard Kaplan, president of Prospector Asset
Management in Evanston, Illinois. "Gold's rallied more than $30
off its lows for the day." ...
cont ...
|
Drop in Gold prices sparks Abu Dhabi Gold rush ...
Abu Dhabi/Dubai:
Thousands of people jammed
the town centre Thursday night and Friday afternoon as they
rushed to buy gold with prices plummetting to as low as Dh 80
for a gram of 22 carat gold... "The volume of sales increased
400 percent Thursday night ...
cont ...
|
Lower Gold Lights Up The Festival of Lights ...
Abu Dhabi:
Sliding
gold jewellery rates ahead of the Indian festival of lights,
Deepawali, are proving to be a boon for gold lovers and
investors... Gold shops in Dubai and Abu Dhabi have been
witnessed a rush of buyers in the morning hours as news of the
fall in gold prices spread across the country ...
cont ...
|
Silver Shortage: Yes, There is No Silver ...
United States:
As the price of silver
pulled back under $10 an ounce recently, I started loading up on
the white metal. Or, I should say, I tried to load up. While I
was easily able to buy silver coins with numismatic value, my
first attempts to buy silver bullion coins met with
frustration... on paper, Silver is cheap, but in the real
physical market, silver is getting very difficult to locate in
quantity ...
cont ...
|
Roubini Says Stay Away from "Risky" Assets ...
United States:
New York University
Professor Nouriel Roubini said curbs placed on U.S. futures
trading today shows his prediction that markets will be shut
down amid panic selling is coming true ...
cont ...
|
Jewel industry glitters in a gloomy financial market ...
Muscat:
The slump on global equity
and general economic sector has benefited the jewellery market,
said Tamjid Abdullah, deputy managing director of UAE-based
Damas. "The gold and related jewellery business is on the up as
it gives the best value for cash ...
cont ...
|
Roubini: Panic May Force Closure of US Stock Markets ...
London:
Hundreds of hedge funds will
fail and policy makers may need to shut financial markets for a
week or more as the crisis forces investors to dump assets, New
York University Professor Nouriel Roubini said... Roubini
predicted the current financial crisis back in 2006 ...
cont ...
|
SprottMoney Ltd. to retail Canadian Gold and Silver Maples ...
Toronto:
Sprott Asset Management in
Toronto, has established SprottMoney Ltd. to buy and sell
1-ounce Canadian gold and silver maple coins. The firm accepts
both Canadian and international orders ...
cont ...
|
The Silver Rush Is On ...
United States:
Investment demand for Silver
this year is running at a full 25% of world mine production and
over 20% of total production (including recycling) ...
cont ...
|
John
Embry warns of failure in December Gold futures ...
Canada:
Sprott Asset Management's
chief investment strategist, John Embry, went on Business News
Network in Canada this morning and, interviewed by Amanda
Lang... Embry speculated that long contract holders may call for
delivery of enough December Gold contracts as to prompt a claim
of force majeure when the exchange cannot delivery enough real
metal ...
cont ...
|
