Mineweb — Russia and Kazakhstan expanded their gold reserves for a seventh straight month in April, buying the metal to diversify assets even as prices slumped the most in three decades. Russian holdings, the seventh-largest by country, climbed 8.4 metric tons to 990 tons, taking gains this year to 3.4…
The results are finally out and 2012 proved to be another record year for the continued squeeze in the top 5 gold miners. Not only did gold production decline 1.3 million ounces from the top 5 year-over-year, their average yield dropped another 6%. As gold yields continue to decline, it…
SINGAPORE (Reuters) – Premiums for gold bars hit a record high in Asia on Wednesday as lower spot prices lured more buyers, mainly in China, the world’s second biggest consumer of the precious metal, amid tight physical supplies. KILO BARS SCARCE IN SINGAPORE “Currently, there are no kilo bars in the…
Martin Armstrong stated in his blog Post that the reason for the “flash crash” in silver Sunday night, May 19, was due to the lack of bids. He goes on further to say “Despite the gold/silver promoters, there is no expansion of buyers for the precious metals. It has been the…
(Mineweb) Higher gold imports have been curtailing the government’s efforts to stem the yawning gap in the country’s current account deficit. However, jewellers in the country are already facing the music, given the extremely perilous situation with low gold stocks and correspondingly high premiums of around $40 per ounce or…
(BANGKOK: Many traders put $300,000 at a time on the counters of the hundreds of gold shops here in the city). We want to hear what is going on in your area of the world… whether it’s about precious metal availability or premiums, inflation, political events, important local news, employment/job…