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Archive for July, 2010
IMF’s proposed gold sales
Analysis is required for IMF’s proposed gold sales, and Resourceinvestor.com has done an excellent report on it.
Resourceinvestor.com report has mentioned that in the past proposals to sell gold by IMF were blocked by the US Congress. Congress because of its weighted voting power was a virtual veto on [...]
Northwestern Mutual Life buys gold to save assets
Bloomberg’s report on Northwestern Mutual’s gold buying is the hottest topic right now. The report titled “Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer by 2008 sales, has bought gold for the first time in 152 years to hedge against further asset declines” is the internet buzz right [...]
Price of gold to go up to $1000.00!
Jessica Cross, CEO of Virtual Metals, had forecasted $900 gold in 2008; and it did go up to there. Now, the Citigroup are forecasting the price of gold to be $1000 if the US economy goes recessionary. If the economy goes into a recession, Citigroup predicts gold as the [...]
Gold Jumps Up
Recently gold price has been going up. You should take advantage of this and strengthen your place in the market. Daily $1 silver price increase and $20 gold price increase are of interest to all precious metals investors. Investors wonder if these price increases are of significance in the long-term.
Saudi Arabia Gold Reserves Double
Saudi Arabia gold reserves have now gone up to 322.9 tons, twice more than the 143 tons it previously had. These figures were released by the World Gold Council, which tracks official gold bullion holdings, and confirmed by the Saudi central bank, Arabian Monetary Authority (SAMA).
US Mint releases fractional-ounce Gold Eagles
The US Mint is just now releasing the 2010-dated fractional-ounce Gold Eagles. The coins come in the ½-oz, the ¼-oz and the 1/10-oz sizes. The coins are ready for shipment this summer from June 21. The premiums are where they used to be during the normal times in past years, but [...]
IMF sells gold to India
The IMF has sold 200 tons of gold to India’s central Bank. This move wasn’t expected in the gold market, but it was widely known that the IMF would be selling gold soon.