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Deutsche Bank Resigns London Fix Seat Reuters – Deutsche Bank has resigned its seat on the London gold and silver fixes as part of a larger decision to end the majority of its commodities-related business. Deutsche Bank could find no buyer for its seat, perhaps due in part to a US lawsuit that accuses the […]
Korea Begins Spot Gold Trade Wall Street Journal – The South Korean stock exchange has started trading physical spot gold for the first time, hoping to increase tax revenue from the yellow metal. South Koreans trade about 110 tons of gold every year, of which about 70 tons, worth $3 billion, are traded on the […]
Gold Hits 16-Week HighBloomberg – In the last week of February, gold and silver hit a 16-week high, driven by concerns of weak US economic growth and Ukrainian political turmoil. The Chicago Federal Reserve’s measurement of US economic activity in January was nearly twice as bad as predicted, indicating below-trend growth. Meanwhile, the interim government of […]
The Silver Institute has released its February Silver News, jam-packed with stories on the latest developments in silver technology. This issue includes an interview with an industry insider about the recent American Eagle coin shortage, as well as articles about silver in hard drives, spark plugs, and the Gorilla Glass used on smartphones.
This week, the World Gold Council released its Gold Demand Trends report for the full year of 2013. Marcus Grubb, the Managing Director of Investment Strategy for the WGC, summarizes the report and reminds us that gold’s strong fundamentals will continue to drive long-term demand for the metal. Global investment in bars and coins in […]
World Gold Mints Slammed with DemandBloomberg – Increased global demand for gold coins has world mints struggling to produce enough and maintain supplies. Austria’s mint, which saw a 36% increase in Philharmonic coin sales in 2013, is operating 24 hours a day. Purchases from Australia’s Perth Mint rose 20% YoY from the beginning of 2014 to […]
In late December of last year, Peter Schiff and his brother Andrew released a new and expanded version of their illustrated economic fable How an Economy Grows and Why it Crashes. Since the debut of the original version of the book in 2010, people across the world have told them that the book’s simplicity, humor, […]
US Mint Silver Coin Sales Hit Yearly Record Bloomberg – By the second week of November, the US Mint’s American Eagle silver coin sales had reached 40.2 million ounces for 2013, a new annual record. The previous record was ~39.9 million ounces for all of 2011. Strong retail sales are attributed to lower silver prices […]
Enjoy the December 2013 edition of the Silver Institute’s Silver News. This issue includes articles on silver’s use in 3-D printing electrical componenets, testing for cystic fibrosis, and drone cloud seeding to control weather in California.
Dubai Plans Spot Gold Contract for 2014 Wall Street Journal – The Dubai Gold & Commodities Exchange (DGCX) is planning to launch the first Middle East spot gold contract in 2014. The new platform will simplify the process for trading smaller quantities of physical gold and, according to Chief Executive Gary Anderson, will “eliminate that […]
