Gold was up this week for the second time in three days, with most of the gains occurring in India and China, the world's largest consumers of the precious metal.
Articles Tagged "china"
When the metals markets tumbled in mid-April, The Gold Report reached out to "the original investor bug" and author of The Dines Letter, James Dines, for perspective. He predicted a crash in commodity prices two years ago based on his analysis of a weak Chinese economy. Next, he says, will be a bond market bust once interest rates start to climb. This will lead to "a stampede to get out of bonds like a herd of elephants attempting to exit through a revolving door." How can investors protect themselves? That is Dinesism #38.
Gold fell sharply last month, but now investors are taking an interest in physical gold.
China may limit its gold holdings to 2 percent of its total foreign exchange reserves. The People’s Bank of China last made known changes to its gold reserves in 2009, announcing that it held 1,054 metric tons.
John Nyholt, a partner at PricewaterhouseCoopers, discussed mining merger and acquisition activity with Andrew Topf, INN senior editor, at PDAC 2013.
China Daily USA reported that in 2012, China produced 403.1 tons of gold, an 11.66-percent increase from the previous year.
Many are concerned about gold's role in the current risk-on environment. The WGC weighs in.
Reuters reported that Hong Kong exported a net amount of 557.478 tonnes of gold to mainland China, a 47-percent jump from the previous year and a new record.
A Russian gold company the size of Goldcorp could be formed now that Russian billionaire Mikhail Prokhorov has sold a stake in the country's biggest gold miner.
Aurizon has recommended that shareholders reject a $4.6-per-share hostile bid as "inadequate and opportunistic."