India is almost always one of the top two nations (along with China) in terms of gold demand on a year-to-year basis, but government intervention has played a major role in actively suppressing that demand over the past year or so.
For the most part, the world’s most valuable gold deposits have all been tapped already. They are currently being exploited, or development on a new project has already begun. Yet one of the planet’s traditional sources for gold mining, Egypt, has largely deterred large-scale gold mining due to burdensome government policies. Now, however, the Egyptian […]
The Chinese Lunar New Year begins on February 8th, reckoned in this calendar as the year 4714. It is also a time to welcome in the Year of the Rooster in the 12-year Lunar cycle. For those curious about their own birth year, the Year of Rooster arrived in 1921, 1933, 1945, 1957, 1969, 1981, 1993, […]
Like famous Las Vegas gamblers, economists are consistently sought after for their forecasts and predictions of the future. While it may be disingenuous to dismiss these views as “your guess is as good as theirs,” there have been a staggering amount of incorrect guesses on the part of the “professionals” over the last eight years. Analyst […]
For all of the hubbub over President Donald Trump’s alleged connections to Russia, one Russian company is putting aside partisan politics for an objective masterpiece: gold and silver Trump medallions.
The world’s financial elite, from finance ministers to central bankers to business leaders to high-ranking government officials, held their annual gathering in Davos, Switzerland this week. This year, the meeting of the World Economic Forum (WEF) from January 17th to January 20th was focused on how the changing political and economic landscape around the world […]
Customs officials in India may have a serious problem on their hands. Beyond the illicit trade of gold in the informal economy (i.e. the “black market”) and rampant gold smuggling in response to restrictive laws and duties related to the precious metal, the outright theft of gold from India’s customs agency now seems to be […]
In finance and investing, a “Black Swan” is a symbol for an unexpected event or factor that causes a sudden shock to markets. An unforeseen shift in political power, a war breaking out, or any number of troubling events could result in the market disruptions and dislocations that characterize a Black Swan. Investors (as a […]
Trading in Italy’s Monte dei Paschi di Siena bank was halted indefinitely by government regulators late Thursday, after shares fell 7.5%. Markets were reacting to news that the troubled bank’s last-ditch effort to remain solvent had fallen through. The nation’s third-largest bank, the 544 year-old Monte dei Paschi will now be nationalized by the Italian […]
Metallon Corp. is the largest gold miner in Zimbabwe. It operates the Redwing mine in the city of Mutare, which finally came back online last November after sitting idle for the previous eight years. The firm recently approved a noble initiative as Redwing boosts its output: allocating mining claims to small, artisanal miners in the […]
A great deal of news coverage has focused on the legislative war that the Indian government has engaged in against its domestic gold market, especially over the past two years. The unpopular effort seems to finally be having a noticeable impact, however, according to the latest data on gold smuggling from India’s Ministry of Finance.
In a storied history that spans more than an entire millennium, the Royal Mint—the official state mint of the United Kingdom—has actually never issued anything in platinum bullion before. That is all appearing to change in the near future now that the mint has partnered with the World Platinum Investment Council (WPIC) to bring platinum […]
Along with Russia, South Africa is one of the world’s main sources of Platinum Group Metals (PGMs)—namely, platinum and palladium. In terms of the proportion of the annual global supply of these metals that South African mining provides, the totals are 40% for palladium and a staggering 70% for platinum. Nonetheless, it’s been a trying several […]
India’s campaign to reduce the astronomical level of its gold imports has continued, and now one of the country’s biggest banks is getting into the act.
Last week, Germany’s Deutsche Bank (DB) finalized a $60 million settlement in a case that involved the manipulation of both gold prices and silver prices. The discovery process in that lawsuit has now revealed “smoking gun” evidence that the bank did not act alone in rigging the London fixes.
Due to remarkably consistent high volumes from year to year, India’s gold imports have the effect of a double-edged sword: the influx of gold puts tangible wealth in the hands of urban and rural dwellers alike yet makes the country’s current account deficit (CAD) balloon larger and become increasingly unmanageable.
The massive German lender Deutsche Bank (DB) has been struggling mightily this year, watching its stock price crater roughly 30% year-to-date. (In fact, DB has lost more than 50% of its value in the past five years.) The company has been plagued by one round of bad news after another in 2016, drawing negative attention […]
Over the last month, the Japanese yen has seen a sharp devaluation against the U.S. dollar. As we continue through the first week of December, Tokyo’s Nikkei 225 stock index has also taken a hit. Yes, this is largely due to the dollar being on a tear during the post-election “Trump Rally.” However, the eventual […]
It is often the case in the financial markets that investors and traders attempt to jump into a successful trade only to find they are too late to reap most of the gains. When the “hot money” (trades that are merely following a trend) flows into any particular bet on Wall St, the “smart money” […]
The West African nation Ghana is known as one of the top gold-producing countries in the world. From the most recent data, it ranks as #10 on the planet, and is second in the continent of Africa behind only South Africa. On an annual basis, the national gold output of Ghana is consistently above 90 […]