Tag Archives: Gold

Gold to prove crucial hedge against next financial crisis – analyst

While unsteady financial markets are bouncing up and down due to trade and geopolitical conflicts as well as political uncertainty, some investors turn to less risky assets, principally to gold. According to the recent report by the London-based consultancy Rosa & Roubini Associates, the latest developments in Italy could easily trigger another global financial crisis. Brunello Rosa, economics expert and ...

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Venezuela will refine gold in Turkey to protect reserves from US sanctions

The Central Bank of Venezuela will start refining gold in Turkey to avoid US sanctions –  penalties that deter the country from carrying out banking operations in Switzerland, according to the Venezuelan mining minister. “This is an agreement established with Turkey and the Venezuelan central bank,” Victor Cano told journalists. “It’s being done by allied countries because imagine what would ...

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How much gold is in the FIFA World Cup Trophy?

Arguably the most coveted prize in sport, the FIFA World Cup Trophy could not have been made from anything but gold. But RT wanted to find out just how much gold the trophy contains. After the French national team’s victory in the 2018 final in Russia, RT talked to precious metals experts at BullionStar, who took a closer look at ...

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World running out of gold & there’s no substitute, experts warn

People responsible for supplying the world with gold are sounding the alarm, saying discoveries of the precious metal are shrinking and there’s no reasonable substitute. Mining companies are no longer finding new deposits of gold to replace their aging mines. South Africa’s 140-year-old gold industry – which was once the world’s largest – is currently facing a major crisis. The ...

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75% of South African gold mines unprofitable – mineral council

South Africa’s 140-year-old gold industry – which was once the world’s largest – is now facing a major crisis. The country’s mineral council says 75 percent of gold mines are unprofitable or barely making money. The announcement comes as the sector enters wage talks with its employees. Around 200 employer and employee representatives are set to start the negotiations on ...

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Russia ramps up yuan & gold share in its reserves

The Central Bank of Russia has boosted the share of Chinese currency and gold bullion in its reserves, diversifying from traditional holdings of foreign exchange assets like the US dollar. Read more The yuan’s share jumped to 2.8 percent in the last quarter of 2017 from one percent in the third quarter of last year, according to the Bank of ...

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Switzerland chooses gold bullion over paper wealth backed by US dollar

Another country is betting on physical gold. Switzerland’s pension fund has boosted its investments in bullion, switching from the paper-backed securities in US dollars. Read more “The Swiss government Pension System decided to change from paper gold in the amount of 700 million CHF into physical gold and store it in Switzerland. The 700 million only stands for 2 percent ...

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Currency war can end global US dollar dominance & those who own gold have power

The world is facing a currency war and the only hedge against the crash of the US dollar is real gold, a precious metal analyst has told RT. With geopolitical power shifting from West to East, US dominance may be ending. Read more One such sign is the recent repatriation of gold from the United States. Countries such as Turkey, ...

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Rolling in it: 24-karat gold leaf super-joint most expensive ever crafted (VIDEO)

Even a seasoned cannabis smoker would struggle to meet the challenge presented by the world’s most expensive joint. The elephant tusk-shaped rollup – valued at $ 24,000 – recently went up for auction at a dispensary in Los Angeles. READ MORE: Highly suspicious: Marijuana crop uncovered at offices of Japanese lawmakers The brainchild of Stone Road Farms, a cannabis start-up ...

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Russia gets rid of US Treasury securities and buys gold

US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds. The political standoff started in 2014, shortly after the conflict in Ukraine and the referendum in Crimea in favor of joining Russia. Several rounds of US sanctions ...

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