Gold News
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New York -
Following a report by Goldman Sachs and the news Cyprus would be selling a significant portion of its gold reserves, gold and silver dipped at the end of the Friday trading session. On Monday, it fell even more.
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Nicosia -
The island nation of Cyprus has confirmed that it will sell 400 million euros of gold reserves to finance its part of the bailout, according to an assessment released by the European Commission on Wednesday.
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Palm Beach -
At a time when gold and silver have been performing sluggishly, the general view on Wall Street has been to get out of gold. However, a large number of contrarian investors are still urging people to buy precious metals.
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What has been perhaps the most significant factor in the European Debt Crisis for the currencies markets has not been the actual event itself, but the reaction of global central bankers..
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After months of trying to sell his one ounce gold coin on the street, Mark Dice has finally cashed in his coin, proving to YouTube viewers that authentic gold really is worth a lot of money.
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Buenos Aires -
Over fears of the astronomical 26 percent inflation rate could hurt their wealth, savers in Argentina are turning to gold as a safe haven. It has been reported that Argentines are buying more gold than ever before.
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A small Japanese fishing port, devastated by the 2011 tsunami, has been receiving gold bars from an anonymous benefactor.
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Scientists have been examining a species of bacteria that has an affinity for gold. It is possible that the bacterium could be used to detect hidden gold.
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New York -
Speaking with a financial news outlet, famed investor and money guru Jim Rogers urged investors not to sell their gold and silver coins, even though gold is trading 12 percent below its record high of $1,900.
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Frankfurt -
Germany wants its gold back. Local newspapers are reporting that the Bundesbank, the central bank of Germany, is planning to deposit more gold reserves at home in Frankurt, while withdrawing many of its precious metal held in facilities around the world.
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