Gold News

Hand picked GOLD NEWS from around the web. Get the latest and greatest gold news from one source! All economic news effecting the price of gold.


Gold has been a prized commodity since its discovery thousands of years ago for its beautiful appearance and variety of uses. Here are just 25 of the most surprising facts about the yellow metal.


“There’s No Gold” – COMEX Report Exposes Conditions Behind Physical Crunch

“There’s No Gold” – COMEX Report Exposes Conditions Behind Physical Crunch

Early this week, we were among the first to report on the “break down” in precious metals markets.

While the demand for gold has been soaring as a safe haven asset amid the multiple global crises we are currently facing, forced paper gold liquidation (as leveraged funds scramble to cover margin calls) and unprecedented logistical disruptions created a frantic hunt for actual bars of gold.


London Sources: Gold Traders Are Paid NOT to Take Physical Delivery

What the heck are those mysterious “exchange for physicals,” the mechanisms by which contracts to buy gold on the New York Commodities Exchange are neither fulfilled by delivery on the Comex nor settled for cash there but transported for supposed delivery elsewhere?

The mechanism long has been incorporated by the Comex trading system but was described as an “emergency” procedure undertaken upon agreement by buyer and seller – except that the use of this “emergency” procedure has exploded in the last year, involving tens of thousands of contracts and, nominally, hundreds of tonnes of gold.


Gold traders are paid not to redeem Comex EFPs, London sources say

Dear Friend of GATA and Gold:
What the heck are those mysterious “exchange for physicals,” the mechanisms by which contracts to buy gold on the New York Commodities Exchange are neither fulfilled by delivery on the Comex nor settled for cash there but transported for supposed delivery elsewhere?

The mechanism long has been incorporated by the Comex trading system but was described as an “emergency” procedure undertaken upon agreement by buyer and seller – except that the use of this “emergency” procedure has exploded in the last year, involving tens of thousands of contracts and, nominally, hundreds of tonnes of gold.


It’s Going to Be a Rush to Gold; The Dollar Is Cooked

On Wednesday, Congress finally agreed on a government stimulus/bailout plan to battle the economic impacts of coronavirus to the tune of over $2 trillion. Meanwhile, the Federal Reserve has committed to monetize the debt with QE to infinity. Practically speaking, we’re talking about trillions of dollars being injected into the US economy –


Barrick unveils 10-year plan to become world’s most valued gold miner

Barrick Gold (TSX: ABX) (NYSE: GOLD), the world’s second largest gold miner, has unveiled a 10-year production plan aimed at becoming the most valued bullion company.

The strategy, outlined in its first annual report since its merger with Randgold Resources, includes boosting Barrick’s production to about 5 million ounces of gold a year, with the bulk coming from its North American operations.

President and chief executive officer, Mark Bristow, said Nevada Gold Mines — its recent joint venture with Newmont (NYSE: NEM) — would be the “value foundation” of its business moving forward.


Gold price rockets more than $100 to seven-year high

The gold price rallied again in spectacular fashion on Tuesday, as panicked investors scramble for hard assets on the back covid-19 closures of mines and refineries and unprecedented monetary action by the US central bank.

On the Comex market in New York, gold for delivery in April, the most active contract, closed the session at $1,660 an ounce, up $93 an ounce compared to Monday’s close. Earlier in the day the metal rocketed by as much as $131 an ounce, or 8.4%