Gold

Swiss gold funds Indian black money

December 14, 2014 at 19:53

truthing

Amid concerns of bullion trade being used for routing of black money, Switzerland's gold exports to India have risen further and is faster than ever. The Swiss gold exports to India stood at over 2.8 billion Swiss francs in October, up from about 2.2 billion Swiss francs in the previous month, shows the latest data from the Swiss Customs Administration. This has taken the total Swiss gold exports to India since January this year to 14.2 billion Swiss francs, as per the data compiled by Switzerland's cross-border trade monitoring agency. This surge in gold shipments has made India the largest destination for the yellow metal exports from Switzerland. There are con...

3 Kerala companies have more gold in there vaults than Singapore, Sweden, Australia combined

December 14, 2014 at 19:48

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Three gold loan companies in Kerala have more precious metal in their vaults than the gold reserves of some of the richest nations. These companies jointly hold nearly 200 tons of gold jewellery, which is higher than the gold reserves of Singapore, Sweden or Australia. However, there is one Indian who holds more gold jewellery than these three companies - Alokesh Lahiri or popularly known as Bappi Da.India accounts for approximately 30% of the global demand for gold: 29% for Mr. Lahiri and 1% for the rest of the world. Gold and Bappi Lahiri have become synonyms in every Indian household. His friends celebrate his birthday on Dhanteras.When we asked about his passion for g...

Silver sales not stopping

December 11, 2014 at 12:55

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At The Gold Center Inc., a Springfield, Illinois-based precious-metals dealer, sales of U.S. coins made from the metal are poised to increase 30 percent this year, said Jim Hausman, the company’s president. The jump mirrors a national trend, with sales by the U.S Mint reaching an all-time high. “Some people want to buy as much silver as they can when they see a big move in prices like we saw over the last couple of months,” Hausman yesterday said in a telephone interview. Gains in physical purchases have helped New York silver futures to surge more than 20 percent since reaching a five-year low on Dec. 1. The price snap pushed the metal’s 60-day volatility to the highes...

Silver industrial demand to reach 680 million ounces by 2018

December 11, 2014 at 12:11

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Total silver industrial demand is forecast to grow 27 percent, adding an additional 142 million ounces of silver demand through 2018 compared with 2013 levels, according to a new report issued today by the Silver Institute. Half of this growth will be accounted for by the electrical and electronics sector, but additional demand will be due to growth in other industrial applications, as highlighted in the report entitled, "Glistening Particles of Industrial Silver." The unique properties of silver -- its excellent thermal and electrical conductivity, as well as its malleability, ductility and optical reflectivity -- make it indispensable in many industrial applications,...

Silver record sales

December 10, 2014 at 10:38

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The U.S Mint has sold a record number of silver coins this year as demand for the physical metal helped futures in New York recover more than 20 percent since falling to a five-year low early this month. Purchases of American Eagle silver coins reached 43.051 million ounces in 2014, data on the mint’s website shows. That tops last year’s 42.7 million ounces, the previous all-time high, according to an e-mailed statement yesterday. There are still enough supplies to keep selling 2014-dated coins through the week starting Dec. 15, the mint estimates. A surge in demand prompted the mint to suspend sales in November for more than a week because of a lack of inventory. When ...

Silver outperforms given time

December 10, 2014 at 10:35

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Silver’s price has risen nine-fold since 1970 and has out-performed gold since 2009: A landmark report by the Centre of Economics and Business Research (Cebr) reveals that silver has heavily outperformed most other asset classes since 2000. Daniel Marburger, director of CoinInvest.com whose sister company, Silver-to-go, sells silver bars and coins to investors throughout Europe, said: “As far as alternative investments are concerned, gold usually has the upper hand, primarily because of silver’s steep tax profile across Europe. Yet, despite fiscal barriers, silver has had a shift in recent years. Not only has its price risen to levels unseen since records began, but inve...

Mining reset still to come

December 8, 2014 at 16:19

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Gold and mining investors tend to believe in hard money and have an interest in Austrian Economics. They understand the moral, economic and structural harms that the fiat-currency system causes. They worry about the nature of fiat currency, which promises to pay nothing more than a similar currency bill of the same denomination. Despite their understanding of monetary economics, those who have been involved in gold mining have in the last decade participated in a worse debasement of their wealth using share-certificates than what central banks have done. When challenged, such investors often rationalize that gold that is not doing well and that it is likely manipulated. ...