Isis shows off currency with gold dinar coins

September 1, 2015 at 10:01


Isis has shown off its new currency - as part of the group's plan for "world domination". The militants currently brutalising parts of Iraq and Syria claim to have produced the gold dinar, with smaller denominations of silver dirhams and copper fulus, in a newly released propaganda video. Entitled "The Rise of the Khilafah and the Return of the Gold Dinar", the hour-long video claims that only gold is the true measure of wealth and America's reliance on bonds and oil are its "Achilles heel". Also containing exhortations on world economics, the video explains how its currency will break "America's capitalist financial system of enslavery", which is a "...

Did hedge funds stop the rally?

September 1, 2015 at 09:56


Gold is still well above a more than five-year closing low of $1,084 struck August 5 as China's economic woes and shock currency devaluation sent ripples through markets. But the safe haven buying amid the panic on markets did not materialize to the extent many bulls had hoped. One explanation why bullion did not attract money fleeing equities and bonds can be found in the positioning by hedge funds on the New York futures market. By Black Monday, speculators on the gold futures market were well positioned to go bearish on bullion again and stop the momentum of safe haven buyers In late July and early August in the run up to the wild swings on global markets, large s...

Chef creates $15 gold-infused chocolate with 22 carat flakes

August 28, 2015 at 10:36


A chef said he has created what is being dubbed the most extravagant milkshake in the UK - with each serving containing edible gold. The indulgent Mayor's Gold drink is drizzled with gold-infused syrup and topped off with 22 carat flakes. Luckman Ali, 24, who sells the creations at his Tuchez Ice Cream Parlour in Oldham, Greater Manchester, England, said each shake contains around two teaspoons of gold flakes. The concoction is made up of a crushed Whisper gold chocolate bar, white chocolate Lion bars and Hershey's chocolates added to vanilla ice cream - followed by the plush toppings. 'On top of the milkshake we put whipped cream and then sprinkle with 22 carat gold ...

China tank will help Gold

August 28, 2015 at 10:30


Gold prices usually bottom out in August before the Indian religious festival season causes demand to pick up. But unless you have not been reading the newspapers recently, you will be aware that gold’s rise has been because of rather more than that this year. Global stock markets are tanking, led by China, and many currencies are devaluing against the US dollar – again led by China, whose sudden decision to devalue really put the cat among the pigeons. This was also a boost for gold as a haven asset and currency independent of any central bank. Where do people invest their money when they lack confidence in governments and central banks? There are few alternatives. I...

Gold still the ultimate hard currency

August 27, 2015 at 11:40


While gold hasn’t been rising in tough periods as many investors would expect, it does appear that investors have been buying into the commodity this month, following a positive 3.35 per cent return from the S&P GSCI Gold Spot index. The obvious guess as to why this is the case is the global volatility we have experienced in recent months. This came to a head on Monday, when the FTSE 100 had £74bn wiped off its value, the Dow Jones ended the day down 558 points and the Shanghai Composite dropped by 8.5 per cent. In the past, gold has been seen as a safe haven because it is hard currency that is stored in vaults and cannot be printed. However, since the fall from...

Silver Coin Buyers See the Bargains

August 27, 2015 at 11:18


Buyers of silver coins in the U.S. are seeing bargains at a time when investors are dumping precious metals. Prices tumbled into Thursday to a six-year low. Investors have been selling silver amid a rout across commodities and ignoring the precious metal’s haven appeal. While options contracts show that traders are bracing for more declines, the rout is only increasing the allure of silver coins for retail buyers. Sales at the U.S. Mint, the world’s largest, are on pace to a reach a record this year, according to an e-mailed statement. Coin purchases are up about 13 percent this year through Aug. 24. Surging demand prompted the Mint to suspend sales last month for m...

Silver set up to $64?

August 26, 2015 at 10:30


We have said many times that the outlook for silver is bright. The grey metal, unlike gold, is not only an investment vehicle, but also an industrial metal that has growing demand from electronics manufacturers and solar panel producers. This time, let’s look at one of the most important ratios in precious metals—the gold to silver price ratio. You see, for the most part, precious metals prices move in the same manner: when gold goes up, so does silver, and vice versa. However, despite going in the same directions, the magnitude of the moves in gold and silver prices could differ. We use the gold to silver price ratio to track the divergence of the two metals prices. A...