Tag Archives: Gold

Russia-China real gold standard spells death for US dollar

The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. When this happens, the global economy will be significantly reshaped, and the West will lose its dominance, predicts a precious metals expert. In 2016, 24,338 tons of physical gold were traded, which was 43 percent more than in 2015, according to Claudio Grass, of Precious ...

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‘Gold price will explode & dollar get wiped out’ – warns investor Peter Schiff

Peter Schiff was among the few economists who correctly predicted the financial crisis in 2008. Ten years later, he sees another crisis emerging: a crisis that can crash the stock market and wipe out the US dollar. “I predicted a lot more than just the stock market going down back then. I predicted the financial crisis, but more importantly, I ...

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Russia & China could set international gold price based on physical gold trading

Published time: 3 Dec, 2017 01:45 Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold. Gold pricing benchmarks from such a system would be based on physical gold transactions, ...

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Russia continues stocking up on gold under Putin’s strategy

Published time: 2 Dec, 2017 06:34 The Central Bank of Russia (CBR) is increasing the country’s gold reserves to meet a goal set by President Vladimir Putin to make Russia less vulnerable to geopolitical risks. As of November, Russia had 1,801 tons of gold accounting for 17.3 percent of all reserves. Russia is the sixth largest gold owner after the ...

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Gold 2.0 or bubble? The hopes and fears of bitcoin's rapid rise (RT DEBATE)

Bitcoin has grown 10-fold in a year, and debate is as hot as ever whether the world’s top cryptocurrency is a bubble waiting to burst. RT’s Max Keiser and economics professor Steve Keen debate how soon the meteoric rise will have to stop. On Wednesday, bitcoin broke through the $ 10,000 milestone, defying skeptics and fiat currency fans that have ...

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Gold eases back from multi-week high as new Fed chair & US tax in focus

Published time: 28 Nov, 2017 20:28 The price of gold edged lower on Tuesday but held close to the six-week high hit in the previous session. Investors are anticipating the confirmation hearing of US Federal Reserve chair nominee Jerome Powell and a possible Senate vote on US tax reforms. Spot gold was down 0.13 percent at $ 1,296.20 per ounce, ...

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BRICS consider setting up gold trading system

Published time: 26 Nov, 2017 06:45 Brazil, Russia, India, China and South Africa (BRICS) are discussing the possibility of establishing a separate gold trading system, according to the First Deputy Chairman of Russia’s Central Bank Sergey Shvetsov. Read more “The traditional (trade) system based in London and partially in Swiss cities is becoming less relevant as new trade hubs are ...

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Paralympic gold medalist Oscar Pistorius' prison sentence extended to 13 years

Published time: 24 Nov, 2017 12:23 Former South African track and field athlete Oscar Pistorius has been sentenced to 13 years and five months in jail following a decision by South Africa’s Supreme Court of Appeal (SCA), which more than doubled his original term. On Friday, the SCA upheld an appeal by prosecutors who challenged Pistorius’ initial six-year sentence for ...

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Money ‘tsunami’ may spur quadrupling of gold prices to over $5,000 – expert

Published time: 22 Nov, 2017 09:57 A prolonged period of cheap money and the shift of investor focus to gold as a haven from geopolitical and financial risk could boost the price of the precious metal to over $ 5,000 an ounce in five years, suggests McEwen Mining CEO, Rob McEwen. Read more If that happens, “there is going to ...

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World's top jeweler reveals growing appetite for gold in China

Published time: 21 Nov, 2017 13:25 Increasing demand from Chinese consumers for gold products has significantly lifted first-half profits of Chow Tai Fook, the world’s leading jewelry retailer. The Hong Kong jeweler has reported a 46 percent rise for the six months through September with net profit up to HK$ 1.78 billion ($ 227.89 million), up from HK$ 1.22 billion ...

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