Friday, May 24th 05:56 PM

Paper Gold must cease to function : Jim Sinclair

Physical gold is going to replace the paper gold of the futures market to set the price of the yellow metal. ..Continue

Gold: An investment right for the wrong reasons

  • Gold is hardly immune to manipulation, either. When the U.S. was on the gold standard, the government set the price of gold. It also manipulated the price of gold by selling gold from its own holdings, or by buying gold on the open market.

Burma Gold prices remain highly volatile

  • Analysts said global gold price has significantly dropped but Burma's has not in the recent days.

Unravelling the mystery of India's Golden temples

  • A view of the Padmanabhaswamy temple considered to be richest in India with a collection of gold, silver, diamond studded crowns, gold barrels and coins worth over Rs 1 lakh crore.
  • Most of the ancient temples that exist today have gone through lot of changes and improvisations at different points of time. The Golden Temple in Amritsar in Punjab was built by the fifth Sikh Guru, Guru Arjan in the sixteenth century. However, in the 19th century, Maharaja Ranjit Singh made changes to the upper structure covering it with gold that now gives it the English name to the Harmandir Sahib.

South Africa Gold holdings dip to $5.9 billion

  • South Africa's gold and foreign currency reserves rose 0.6 percent to $50 billion in April and gold holdings fell 8.3 percent from a month earlier to $5.9 billion.

140 tons of smuggled Gold to reach India this year

  • After gold trade was liberalised and nominated agencies were allowed to import gold, smuggling of the commodity had declined for about 14 years.

Gold heads for weekly, monthly gain

  • Gold for immediate delivery was seen trading at $1393.64 an ounce at 12.00 noon Singapore time while US gold for June delivery was seen at $1392.51 an ounce on the comex division.

Bullion rallies despite losing US Fed prop as stock markets sink on weak China data

  • Gold prices rose Thursday morning to breach $1390 per ounce once again, recovering two-thirds of Wednesday's plunge from that 1-week high – made as US Federal Reserve chairman Ben Bernanke was testifying to the Senate on the likely direction of Dollar interest rates and quantitative easing.

India Gold margins dip on fresh arrivals

  • Analysts said premiums on physical gold eased due to some supply from bullion importing agencies.

SBV shrugs off calls for Gold exchange

  • State Bank of Vietnam said it has the right and the power to maintain the high prices for gold bidding sessions because of the monopoly mechanism, under which the seller can define the prices.
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