News Articles

Indians bought more gold in July than June despite a series of moves by the central bank to strangle supplies, and their insatiable appetite has forced neighbouring countries to take steps to curb their own imports  . . . .

Silver has suffered a miserable year so far, bludgeoned by gold’s unprecedented selling anomaly. The exceptional weakness in both metals was greatly exacerbated by futures speculators piling on short-side bets. But with silver shorts hitting record extremes, a super-bullish short squeeze now looms. Any rapid silver rally is likely to spook the highly-leveraged futures traders, sparking a massive stampede to cover . . . .

Is China moving rapidly towards holding enough gold to have the clout it needs to replace the dollar with the renminbi as the global reserve currency? Now either the Western bullion banks have misjudged the power that gold still retains in the global psyche and as a key financial instrument, or the Asian investors and governments, which are continuing to accumulate gold at a high rate, have got it wrong . . . .

Odyssey Marine Exploration (Nasdaq:OMEX) has recovered over 61 tons of silver bullion this month from a depth of nearly three miles. This recovery of bullion from a British cargo ship that sank in February 1941, consists of  almost 1.8 million troy ounces of silver bullion in total, and sets a new record for the deepest and largest precious metal recovery from a shipwreck . . . .

John Paulson was quick to mention that his firm’s struggling gold fund is only a modest 2% of his eponymous hedge fund firm’s total assets Wednesday, but even with the metal having an awful year the billionaire money manager still made the case to be bullish . . . .

Paulson’s firm reiterated its commitment to investing in bullion and stocks of gold producers for protection against currency debasement as central banks pump money into the global economy . . . .

A global Clearing Member of the London Bullion Market Association (LBMA) – and a market leader in global precious metal services – announced the establishment of one of the largest custodial and vaulting services for gold at the Singapore Freeport.

The vault has the capacity to store up to $8.7 billion worth of gold bullion in a state-of-the-art facility on behalf of Deutsche Bank’s clients . . . .

If you hold precious metals in your portfolio, there is a good chance you fear hyperinflation and the crash of fiat currencies. It is likely that your holdings in gold are your lifeline – your hope to get you through these times while holding on to your wealth.

But have you ever given any thought to the possibility of having this lifeline confiscated by the authorities . . . .

In new legislation which was enacted May 23rd, the French government decreed that it is forbidden to send all forms of currency - coins and cash and all forms of precious metals – coins, bars and jewelry by mail.

It was not announced by the government and not covered in the media. There were no communications and nobody in the government justified or explained this decision ... euro coins and notes and gold bullion coins and bars attract no tax in France and therefore this is more likely to be an attempt to discourage the ownership of gold bullion and cash outside of the banking system and is a form of capital control . . . .

The world’s largest gold trading market is conducted in Great Britain under the auspices of the London Bullion Market Association (LBMA) ... there are more than 100 ounces of LBMA contracts extant for each ounce of gold in London vaults to cover those contracts ... in other words, the world’s largest gold trading market operates to some degree as a Ponzi scheme, where there isn’t enough metal to fulfill outstanding contracts . . . .