Wednesday, September 30th 03:45 PM

China's gold reserves stood at 54.45 million fine troy ounces at the end of August, up from 53.93 million at the end of July...Continue

US Mint Gold-bullion coins sales hit 110,000 Oz so far in September

  • Total U.S. Mint sales gold-bullion coins have already hit 110,000 ounces this month, topping the total from August that Barclays said it was a strong month. The sales of U.S. coins have continued the strong run since July.

China National Gold Group Corporation becomes a member of the World Gold Council

  • The World Gold Council and China National Gold Group Corporation (China Gold) have announced that China Gold has now become a member of the World Gold Council and joined the Board. China Gold is currently the only Chinese gold mining company member of the World Gold Council.

India, China Gold demand may drive Gold Prices in coming months

  • German Bank, Commerzbank looks for Chinese and Indian demand to support gold in the coming months. Indian gold demand traditionally peaks in the fourth quarter since the festival season begins at the end of September and the wedding season starts in November. Increased gold demand in India and China should lend support to the gold price.

Russia raises Gold holdings to 42.4 mn oz in Aug

  • The amount bought was about the same as the 30.5 tons that Russia purchased in March, then the highest amount in six months.

How Fed decision influence Gold?

  • Commerzbank economists believe that these are more likely to start in December than in October because a whole series of additional economic data, labor market reports in particular, will then be available to enable a better appraisal of the situation.

Azerbaijan's Gold output up 30% in Jan-Aug

  • Azerbaijan's silver production during the first eight months of 2015 totalled 62.8 kilograms, down 70.2% from a year earlier.

India Gold imports surge 140% to $4.95 bn in August

  • The growth in gold imports has pushed the country's trade deficit to $12.47 billion in August.

US Gold production declines 4% y/y to 17,000 kg in June

  • Production of gold by United States mines was about 17,000 kilograms (kg) in June, a 10% increase compared with May production and a 4% decrease compared with that of June 2014, as per the latest figures from U.S. Geological Survey.

India cuts import tariff on Gold, Silver

  • In the first fortnight of this month, the tariff value on imported gold was $369 per 10 grams and on silver it was $471 per kg.
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