Monday, January 22 2018
By GCRU Gold News on Monday, January 22 2018, 01:54
Gold demand in China firmed this week as retailers stocked up ahead of the Chinese New Year while price discounts widened in India, partly on expectations of a reduction in import duty in next month’s budget.
Saturday, January 20 2018
By GCRU Gold News on Saturday, January 20 2018, 05:36
By GCRU Gold News on Saturday, January 20 2018, 05:35
By GCRU Gold News on Saturday, January 20 2018, 02:10
Recently, Russian television network RT extensively quoted me in a series of articles about the US Government’s gold reserves. The RT articles, published on the RT.com website, were based on a series of questions RT put to me about various aspects of the official US gold reserves. These gold reserves are held by the US Treasury, mostly in the custody of the US Mint. The US Mint is a branch of the US Treasury.
By GCRU Gold News on Saturday, January 20 2018, 01:20
Every dog has its day, and right now platinum looks like it is heading for a test of technical resistance at $1026.50, the early September 2017 high. A move above that level would break the pattern of lower highs and could put the volatile precious metal in a position to test its 2016 peak at $1199.50 per ounce. Even though platinum has rallied more than gold, it remains at around a $325 discount to the yellow metal, and at over $105 per ounce below palladium. On a historical basis, even though platinum is well off its lows, it remains cheap compared to both gold and palladium.
By GCRU Gold News on Saturday, January 20 2018, 00:28
This week has been very volatile for Bitcoin and several industry insiders cited by Bloomberg believe that investors are looking for more stable assets in the meantime. Bitcoin, along with most other cryptocurrencies, experienced a crash of over 40% this Tuesday, Jan. 16 that lasted until Jan. 18, potentially causing a spike in gold investment.
Marburger told Bloomberg that gold coin sales increased fivefold on Jan. 16, the same time cryptocurrencies were crashing.
“Tuesday was a hell of a crazy day,” Marburger said, adding that “emails and phones did not stand still with customers asking how they could turn their crypto into gold.”
Friday, January 19 2018
By GCRU Gold News on Friday, January 19 2018, 22:54
Russia adds 300,000oz to it's reserves in December
By GCRU Gold News on Friday, January 19 2018, 00:45
The popular gold-based exchange traded product, “GLD”, is testing the Down trendline from its 2011 peak.
Thursday, January 18 2018
By GCRU Gold News on Thursday, January 18 2018, 23:59
Silver Market Balance
The silver market balance (total supply less total demand) is expected swing into a slight market deficit again this year with both supply and demand reaching above 1 billion ounces. Silver from above ground stocks will have to be drawn down in order to serve the shortfall. That will be a welcome development as above ground stocks rose 9% last year in the face of weak physical demand from the United States and Asia.
By GCRU Gold News on Thursday, January 18 2018, 23:42
“It is likely that cryptoassets such as Bitcoin will emerge as their own asset class and thus have the potential to develop into an interesting investment and diversification instrument. Bitcoin itself could over time assume a similar role as gold.”
“As an asset, however, Bitcoin and alternative blockchain-based tokens should not be neglected. The innovation makes it possible to represent digital property without the need for a central authority. This can lead to the creation of a new asset class that can mature into a valuable portfolio diversification instrument.”
By GCRU Gold News on Thursday, January 18 2018, 01:40
What determines the price of gold? It seems like it should be an easy question to answer, but gold more than perhaps any other asset often mystifies in its behavior. Part of the reason is mainstream, orthodox Economics and its practitioners who have waged an intentional war on the metal for more than a century and a half. Demonizing it has effectively meant a lack of fundamental study.
Wednesday, January 17 2018
By GCRU Gold News on Wednesday, January 17 2018, 23:45
Gold has become the secret ingredient in the criminal alchemy of Latin American narco-traffickers who make billions turning cocaine into clean cash by exporting the metal to Miami.
Tuesday, January 16 2018
By GCRU Gold News on Tuesday, January 16 2018, 23:25
India's gold imports rose by 71.52 per cent to $3.39 billion in December because of weak global prices and higher domestic demand.
According to the commerce ministry's data released today, silver imports too rose by 106 per cent to $197.26 million last month as against $95.84 million in December 2016.
By GCRU Gold News on Tuesday, January 16 2018, 10:45
GOLD : AVERAGE : $1358 HIGH : $1400 LOW : $1260
SILVER : AVERAGE : $18.08 HIGH : $19.10 LOW : $15.60
PLATINUM : AVERAGE : $884 HIGH : $1045 LOW : $815
PALLADIUM : AVERAGE : $1355 HIGH : $1500 LOW : $800
Saturday, January 13 2018
By GCRU Gold News on Saturday, January 13 2018, 05:33
By GCRU Gold News on Saturday, January 13 2018, 05:30
By GCRU Gold News on Saturday, January 13 2018, 01:03
Basel III" rules for banking stability will be fully applied to Canadian banks by 2019 and give gold bullion the highest status as a risk-free asset.
Thursday, January 11 2018
By GCRU Gold News on Thursday, January 11 2018, 03:03
Photos from main gold storage of Central Bank of Russia. Almost 1800 tons of gold is stored here. This is the main storage of gold in Russia. This makes Russia to be number six in the world by gold storage.
By GCRU Gold News on Thursday, January 11 2018, 00:38
Gold is valuable and extremely rare, and therefore the yellow metal is usually protected at all costs. However, there have been multiple occurrences in history where evildoers have breached security measures and bullion has fallen into the wrong hands.
Today we count down the stories of everyday henchmen, terrorist groups, and nation states that have all stolen large swaths of gold loot. This includes notable worldwide events such as the Spaniards’ metal extraction from the New World, famous and recent ISIS raids on banks in the Middle East, and two significant transfers of wealth in WWII that occurred through the use of force.
By GCRU Gold News on Thursday, January 11 2018, 00:36
Security logistics and precious metals vaulting company Brinks reported after hours, when it announced that it would incur an $11 million charge as a result of a theft of an international gold shipment in December.