Slovakia’s former premier told parliament it should force the central bank to repatriate the nation’s gold, which is stored in the U.K. He said history has shown that allies “can hardly” be trusted.
Ex-Premier Robert Fico now chairs the biggest party in Slovakia. He seeks a special parliamentary session on the issue, claiming the gold isn’t safe in the U.K. because of Brexit and a possible global economic crisis. Read More
Poland repatriated approximately 100 tons of gold from the Bank of England to demonstrate the strength of the nation’s $586 billion economy, according to central bank Governor Adam Glapinski.
The institution also brought 126 tons home in 2018 and 2019, increasing its gold reserves to 228.6 tons. The country is now the 22nd largest bullion holder in the world and holds the biggest reserves of the metal in the European Union’s east, according to the central bank. Read More
Goldman Sachs has a bullish outlook on gold. Analysts at the investment bank see prices pushing to $1,600 an ounce next year. The price of gold currently sits at $1459.62. That is a nearly 10% gain from present day prices. December gold futures are trading at about $1,456.70 an ounce. Read More
Last month, Infinigold announced the launch of a digital token, The Perth Mint Gold Token, backed by gold stored in the vaults of Australia’s Perth Mint, a world-leading precious metal refinery. We spoke with Andreas Ruf, the CEO of Infinigold, about working with Perth Mint to launch the token. Read More
Spot gold hit a six-year high late last week. It is the first time since April 2013 prices soared so high – peaking at a value of $1,5334.31 an ounce. Due to this price bump, US gold futures rose by roughly 1.3% to $1,537 an ounce. Despite the positive momentum, these high levels could not be sustained over the weekend.
Several factors drive the current and future value of gold and silver. Weakness in the Argentine Peso, civil unrest in Hong Kong, and the US-China trade war has forced investors to seek safehaven. Read More
Top Federal Reserve policymakers might cut interset rates if trade tensions continue to get worse.
Fed Chair Jerome Powell and his No. 2, Richard Clarida are watching disputes between the US and its trading partners. The next meeting of the Federal Open Market Committee takes place June 18-19, with Clarida noting that the Fed “can’t be handcuffed” by market pricing. Read More
(Gold Silver Bitcoin) President Trump warned last week of a “major, major conflict with North Korea”. He said he’d rather do things diplomatically, though it’d prove “very difficult.”
Trump has made no secret about tensions between North Korea and the US. “There is a chance that we could end up having a major, major conflict with North Korea. Absolutely,” the president said. “We’d love to solve things diplomatically, but it’s very difficult.”
Trump noted that he was confident in Chinese President Xi Jinping and his attempts to influence the North. The pair met in Florida earlier this month to discuss the situation in the Korean Peninsula.
“I believe he is trying very hard. He certainly doesn’t want to see turmoil and death,” Trump told Reuters. “He doesn’t want to see it. He is a good man. He is a very good man and I got to know him very well. With that being said, he loves China and he loves the people of China. I know he would like to be able to do something, perhaps it’s possible that he can’t.”
White House officials on Wednesday describe North Korea as an “urgent” threat to national security and a “top foreign policy priority.”
Military action by the US would likely snowball into a massive strike from the North on South Korea. North Korea could also attack Japan.
“My problem is that I have established a very good personal relationship with President Xi,” the president said. “I really feel that he is doing everything in his power to help us with a big situation. So I wouldn’t want to be causing difficulty right now for him. So I would certainly want to speak to him first.”
Russia blocked a Security Council statement proposed by the U.S. on Wednesday to condemn North Korea’s missile tests. China supported the measure.
“Russia is slowing this down, and it is not clear why,” the diplomat told CBS News. “The U.S. wanted to get the message out.” North Korea’s failed missile test launch on Sunday added to geopolitical tensions escalating between President Donald Trump and Pyongyang.
By Wednesday, the world learned that military aircraft headed for Australia were not on their way to North Korea, as President Trump had intonated.
U.S. Vice President Mike Pence said Wednesday that Washington would work with its allies and China but that United States would meet any attack with an “overwhelming response”.
The first of 1250 US Marines have begun to make landfall “stand ready to fight” against North Korea.
“I think that the commitment that we’ve taken to put a task force here with a conversation to get larger over the years says that we do think this is an important region,” Lieut. Colonel Middleton said.
“We are seeing once again a little bit of a flight to safety as a result of the news over the weekend of North Korea’s attempted missile test. That’s resulting in a little bit of a weakness in the U.S. dollar,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.
The U.S. military intercepted two Russian bombers in international airspace off Alaska’s coast. A pair of F-22 Raptor aircraft intercepted the Russian TU-95 Bear bombers on Monday, according to Navy Commander Gary Ross, a Pentagon spokesman said. He called the intercept “safe and professional.”
On Tuesday, at an annual military parade in Tehran, Iran put on display new S-300 air defense missile system, as well as other weapons seen under banners calling for “Death to Israel” in Persian.
President Hassan Rouhani said at the ceremony that Iranian military was “avoiding tensions and encounters” but that it had to “remain vigilant in the face of plots hatched by the others and increase deterrent power.”
Gold has held firm in recent weeks, thanks to tensions surrounding North Korea other geopolitical uncertainty including the upcoming French presidential election. Still, it endured its worst gain in a month on Wednesday, falling 0.8 percent.
Poor U.S. economic data and a lack of confidence for the Trump administration on tax cuts have led to the expectation of faster inflation.
Economic turbulence, extended by President Trump, contributed to safe-haven bids for gold. Unrest in other parts of the world, like Syria and North Korea, also contributed to gold’s higher price.
Gold climbed on Friday, ensuring a monthly gain of more than 1%, as data showing weak U.S. economic growth weighed on the dollar.
The ICE U.S. Dollar Index, which helps measure the dollar, had fallen 0.1% and trading about 1.6% lower for the month.
Exchange-traded funds SPDR Gold Trust increased 0.2%, climing for the month 1.6%. iShares Silver Trust fell 0.2%, down 5.3% for the month. The VanEck Vectors Gold Miners ETF increased 2.5% Friday, its monthly loss 1.9%.
El Salvador will prohibit gold and other metal mining after lawmakers overwhelmingly voted on Wednesday for the ban. Environmental activists say the country is the first in the world to ban metal mining.
Related: How to Start Your Own Gold Dealer Website
El Salvador’s delicate environment was cited as being unable to sustain metal mining operations, and legislators from many parties approved the ban, supported by the popular Roman Catholic Church. Proponents said a ban would proect the country’s supply of clean water.
“Today in El Salvador, water won out over gold,” tweeted Johnny Wright Sol, a legislator from the center-right Arena party.
Around the world, some bans on cyanide use to extract gold from low-grade ore exist, and Costa Rica has a national ban on open-pit gold mining.
Researchers believe they have discovered a way to add gold and silver to nail polish to create a durable, tined and perhaps even antibacterial nail coloring, extending the precious metals’ ancient uses for fashion in the form of jewelry.
Related: World’s Second Largest Gold Coin Stolen From Berlin Museum
The research, published in the ACS’ journal Industrial & Engineering Chemistry Research, highlights how modern techniques depend on pigment powders and additives. Scientists, investigating nano-particles in polishes, discovered they can make nail polish more durable, in the case of silver nanoparticles, treating fungal toenail infections.
To break silver, gold and platinum alloy, they shot lasers into gold in short bursts for periods of fifteen minutes. They learned that this resulted in colored, transparent polishes with a metallic sheen. Researchers used laser ablation to create a master batch of metal nanoparticles in ethyl acetate, a polish thinner, which could then be added to individual bottles of polish.
(GoldSilverBitcoin) – 11 people were killed in accidents in two neighboring gold mines in central China’s Henan province on Friday.
The thick smoke engulfed a pit at the Qinling gold mine, run by the China National Gold Group in Lingbao City. Twelve workers and six management staff were trapped inside, as reported by Xinhua on Saturday.
Related: How to Start Your Own Gold Dealer Website
Seven bodies were retrieved by rescue workers on Friday night. Ten people were taken to hospital and are recovering. One failed to respond to treatment. Another body was retrieved on Saturday afternoon.
In a neighboring gold mine on Friday afternoon, a similar accident took place, reported by Xinhua based on reports by the provincial work safety administration.
Six workers were trapped and four had been rescued. The other two were found dead later in the evening.
“Industrial accidents are common in China,” reports Ryan Woo for Reuters. “Anger over lax standards is rising after 30 years of breakneck economic growth marred by incidents from mining disasters to factory fires. Earlier on Saturday, an operation platform collapsed at a power plant in southern China, killing nine people.”
A-Mark Precious Metals CEO Gregory N. Roberts sold 3,300 shares of the company’s stock on Thursday. Sold at $17.66, the overall sale totaled $58, 094.96. A-Mark Precious Metals Inc sales, which trade 0.35% during midday trading Thursday, reached $17.45.
Related: Spanish Government Limits Cash Withdrawal 1,000 Euros
Overall, 23,027 shares of the company traded hands, and the company’s 50 day moving average ended the day at $19.22. It’s 200-day moving average is $17.67. A-Mark Precious Metals Inc’s twelve month low of $14.02 and 12-month high of $22.00.
A-Mark’s market capitalization is $122.69 million. A-Mark’s net margin is 0.10%.
The Idaho House of Representatives voted by a 56-13 margin last week to cease Idaho taxation on precious metals, including gold and silver coins and bars.
Related: China and Russia are Stockpiling Gold
Bill Sponsor Representative Mike Moyle (R) and the entire Republican caucus voted in favor of the measure. Now the Republican-controlled Idaho Senate must also vote in favor of the bill and Governor Butch Otter (R) must sign the bill.
HB 206, backed by the Sound Money Defense, Idaho Freedom Foundation, Money Metals Exchange and grassroots activists builds on Idaho’s sales tax exemption on precious metals to end income taxation on the sales of “precious metals bullion” and “monetized bullion.”
Representative Ron Nate (R), said from the House floor: “According to the U.S. Constitution, Article I, Section 10, there is only one thing that a state can declare as currency if they think that our federal currency is going out of whack and some might argue that they think our federal currency is going out of whack already. If we are not going to allow people to declare capital losses on their Federal Reserve Notes or their dollar holdings, it would also be unfair to tax people for their gold and silver holdings. Gold and silver is an alternative to holding Federal Reserve Notes and it is the ONLY alternative that the U.S. Constitution says that the state can allow as another currency. It’s unfair to tax it just as [it’s unfair] to tax losses on Federal Reserve Notes.”
Taxpayers who sell their precious metals might be on the hook for capital gain taxes. “Policies that discourage precious metals ownership reduce the likelihood that Gem State citizens will take prudent steps to insulate themselves from the inflation and financial turmoil caused by the Federal Reserve System,” said Stefan Gleason, director of the Sound Money Defense League. “Precious metals bullion is already exempt from Idaho’s sales tax. HB 206 removes the final disincentive in Idaho tax law that stands against ownership of the monetary metals.”
Utah and Oklahoma have enacted similar income tax measures. Arizona is considering similar legislation, and states like Tennessee, Maine, and Alabama seek to remove precious metals from the sales tax.
Image: Shutterstock
A Colorado man has people in the Northern part of the state rushing to find the cash and gold he stashes around the area per a treasure hunt he conducts on social media.
Related: Treasure Hunter Who Stole Gold Bars Arrested in Florida
The man, who wants to only go by Matt, started a Facebook page last month called ‘Northern Colorado Treasure Hunters.’
He now has 4,000 followers. That might have something to do with his giving away gold.
“Quite honestly, it was just an idea I had. I started the page and it went from there, just snow balled out of control. It’s been fun,” Matt said.
During the week, Matt stashes either cash or gold somewhere in northern Colorado. After snapping a photo, and posting it on social media, people then must look for clues in markings and landmarks to track down the prize. This has led to people getting outside in parks and fields trying to find the hidden treasures.
“We try to do it every time. I have their text alerts so as soon as it hits, I get it,” Courtney Beers said.
“It’s a fun thing to be able to do as a family, especially with the weather being so nice,” Rebecca Garcia said.
Matt hopes to attract business as sponsors so he can offer bigger prizes.
“I plan on doing it for a long time,” Matt said. “It gets people out and about. They have fun and it gives families something to do. And there is incentive at the end of the tunnel. That’s what I like about it. To watch everyone get hyped up about it and run around the parks.” The activities have indeed brought families together.
“It’s just something to do with the kids and they like looking for things, kind of like Easter,” Colton Phelps said.
“I think it’s awesome. I think it’s a lot of fun. Gives people an excuse to get out and go find stuff, see new places,” Cameron Espinoza said.
An artist hid five, £1,000 small gold objects around Scunthorpe, North Lincolnshire. If you find these valuable pieces? They’re yours…
It’s not as easy as just finding these objects and cashing in, however. You will have decode encrypted messages starting with five paintings at the local arts centre and the encrypted codes within.
“I like the idea that ancient objects that were once hidden beneath the earth and were discovered and displayed at the museum are now being rehidden,” said designer Luke Jerram. “I hope the public will enjoy visiting 20-21 Arts Centre and exploring the town and surrounding countryside.”
He added: “There’s a real mixture including one that could be solved by a child, others that could be deciphered by the average person and more challenging puzzles for mathematicians or code-breaking enthusiasts to try their hand at. One of the puzzles may take some months or even years to solve, if indeed it is ever cracked.”
Mathematician and professional code-setter Dan Fretwell encoded the artwork.
Code crackers lined up at the 20-21 Visual Arts Centre located in Church Square, United Kingdom.
“There is no way I could crack the most difficult one, I could certainly crack probably two or three of the paintings,” Jerram said to the BBC. “Some are really easy to decode, whereas the most complicated painting, it would take maybe a month for someone to perhaps work it out.”
Some of the codes could take months to decode. The five objects cast in gold are based upon items seen in the North Lincolnshire Museum.
The Treasured City exhibition runs through April 29.
Gold refineries in Switzerland sent a record amount of gold to Shanghai last December, and Russia is buying gold in droves as well, as the United States experiences a time of tumultuous politics and the european banking system is reported to be on the verge of collapse.
Figures released at the end of January by Federal Customs Administrations showed that Switzerland, a world leader in gold production, sent 158 tonnes of gold to China, a five time increase over November’s sum and nearly three times the volume in December 2015. Read More
