Tuesday, September 19 2017
By GCRU Gold News on Tuesday, September 19 2017, 04:05
A big spike in gold imports from countries with which India has trade agreements has caused alarm in the government, which now plans to exclude the yellow metal from such agreements in the future. “Provisions of trade agreements have been abused to import gold at zero or lower duty,” a government official said. The surge in gold imports has worsened the country’s current account deficit.
By GCRU Gold News on Tuesday, September 19 2017, 04:01
The Turkish Treasury will issue two types of bonds to attract 2,200 tons of gold stashed under mattresses into the economy, which has a market value of around 300 billion Turkish Liras, Deputy Prime Minister Mehmet Şimşek has said.
Monday, September 18 2017
By GCRU Gold News on Monday, September 18 2017, 07:25
Sunday, September 17 2017
By GCRU Gold News on Sunday, September 17 2017, 23:02
The country's gold imports recorded a three-fold jump to USD 15.24 billion during the April-August period of the current fiscal, commerce ministry data showed.
By GCRU Gold News on Sunday, September 17 2017, 22:58
It wasn’t supposed to pan out this way. Goldbugs have been luridly prophesizing the withdrawal of confidence from the monetary system, a monetary system whose basic premise was “trust me”, since France cashed out its U.S. dollars for gold back in the sixties. In fits and starts we’ve been right; that gold is no longer $35/oz speaks to as much. But now there is bitcoin and we all look like schmucks. When the tide went out, it was we who were supposed to get the yellow Porsche. But no the dudes eating our lunch were born twenty years after Nixon closed the gold window, wear headphones and sound more puritanical than we ever did.
Saturday, September 16 2017
By GCRU Gold News on Saturday, September 16 2017, 23:26
Disclosures in the August statement of account published by the Bank for International Settlements indicate that during August the bank increased substantially its use of gold swaps.
An estimated 130 tonnes of new gold swaps were made last month, worth about $5.9 billion at the month-end gold price, and the total level of gold swaps at the end of August was close to 500 tonnes.
As this table shows, the use of gold swaps by the BIS fell considerably from 2013 to zero in March 2016. In the financial year ending in March 2017 a new year-end peak of 438 tonnes was reported.
By GCRU Gold News on Saturday, September 16 2017, 07:03
By GCRU Gold News on Saturday, September 16 2017, 07:01
Thursday, September 14 2017
By GCRU Gold News on Thursday, September 14 2017, 08:05
Massive churning of gold within the SGE over 290 tonnes so far this month.
This is gold changing hands within the SGE - not withdrawals.
We will have to wait till Sept withdrawals are released before we see the numbers.
By GCRU Gold News on Thursday, September 14 2017, 00:19
A former trader at UBS Group AG was charged with conspiracy and fraud over his suspected role in manipulating the price of precious metals.
Andre Flotron, who worked at the bank in Switzerland and Stamford, Connecticut, is the second person publicly charged in the U.S. investigation into the fixing of gold, silver, platinum and palladium prices. Flotron, a Swiss citizen, was arrested while visiting his girlfriend in New Jersey. He was charged with conspiracy, wire fraud, commodities fraud and spoofing. He faces as many as 25 years in prison on the most serious charge.
Wednesday, September 13 2017
By GCRU Gold News on Wednesday, September 13 2017, 00:39
Turkey imports 23.5 tonnes of gold in August.
Tuesday, September 12 2017
By GCRU Gold News on Tuesday, September 12 2017, 02:07
Gold, silver and platinum prices have been rebounding over the past six months for what appears to be one major reason: investors losing faith in the Federal Reserve (Fed) to continue raising interest rates in the current tightening cycle, as reflected in Fed Funds Futures.
Saturday, September 9 2017
By GCRU Gold News on Saturday, September 9 2017, 06:57
By GCRU Gold News on Saturday, September 9 2017, 06:52
Friday, September 8 2017
By GCRU Gold News on Friday, September 8 2017, 22:25
CME raises silver margins by 9.3%
By GCRU Gold News on Friday, September 8 2017, 21:57
Gold has pulled in traders like never before on its way to the highest price in a year. Volume on the Comex in New York, the largest bullion futures exchange, hit a record in August as North Korean tensions and a weaker dollar boosted demand for the metal. Some 6.55 million contracts
worth almost $900 billion now changed hands last month, more than when Donald Trump was elected U.S. president or during substantial price spikes and slumps.
By GCRU Gold News on Friday, September 8 2017, 06:43
Now I must ponder/wonder how those people who sold million/billions short when gold was breaking out.??
It happened twice where it looked like abject manipulation on Aug 18th & Aug 25th - both Fridays - both at similar times of the day.
I must ask them or the entities they represented (as no sane trader or poor person would be worth asking)
Did you get value for your money when you blew it away?
By GCRU Gold News on Friday, September 8 2017, 03:39
Silk Road demand of 256 tonnes during July - 13 tonnes under total world mine production.
By GCRU Gold News on Friday, September 8 2017, 03:32
SGE Withdrawals of 161.4 tonnes for August
By GCRU Gold News on Friday, September 8 2017, 03:06