News Articles

On April 15, gold spot prices dropped more than 7% in the first two hours of trading in the U.S., expounding upon the 5% drop in price that took place on Friday. This crash of more than $200 per ounce over the past two trading days provides a warning sign, and a precursor to a major financial crash coming to the global economy . . . .

Cyprus has agreed to sell excess gold reserves to raise around 400 million euros and help finance its part of its bailout . . . .

In a final poll at the Second edition of the Dubai Precious Metals Conference 63 per cent of delegates thought gold was heading towards $3,000 by 2014 and 37 per cent voted for a tumble towards $1,000. The vote followed a lively discussion between the conference’s leading bulls and bears . . . .

Gold imports by India, the world’s largest bullion buyer, may increase 31 percent this quarter after prices dropped to a 10-month low and festivals and weddings spur sales of jewelry, a trade group said . . . .

At first blush Texas might not seem to share much in common with Germany. But in addition to being the largest states in their respective unions, Texas, like Germany, now wants to take physical possession of its physical gold reserves stored outside the state.

A few years back the Texas university system made headlines by making huge investments in gold, not shares in gold-backed ETF’s or mining companies, but actual gold, a billion dollars worth of it, in fact, which is now currently stored in New York . . . .

Concerned about the out-of-control Federal Reserve System and the increasingly unstable fiat dollar managed by the privately owned central bank, lawmakers in Arizona are following in Utah’s footsteps to come up with a potential alternative that protects citizens . . . .

In letters received by customers of the large Dutch bank ABN Amro over this past weekend, the bank announced a customer service policy change taking effect on Monday, April 1.

Currently, the bank has stored physical gold, silver, platinum, and palladium for their customers. Beginning next week, the bank will no longer allow customers to take physical delivery of the precious metals that they own and are stored at the bank . . . .

We all know the cliché: ‘Don’t mess with Texas.’ Well, a new piece of legislation is being proposed to send that message to Washington, when it comes to protecting Texas’ gold.

A lawmaker has proposed a bill to create a Texas Bullion Depository ...  If passed, the Texas bill would tell Washington to “shove off” under the 10^th amendment power given the states . . . .

Gold use in India, the world’s biggest buyer, may climb for the first time in three years as rising incomes and inflation boost investment demand, undermining efforts to narrow a record current-account deficit . . . .

Arizona lawmakers say the global economy is on the precipice of financial ruin and the U.S. dollar could soon be worth less than the paper used to make it.

These doomsayers are pushing forward legislation that would declare privately minted gold and silver coins legal tender, no different under state law than the U.S. dollar printed by the federal Department of Treasury . . . .