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 Set to Join the “All-Time Highs Club” — Bloomberg Intelligence

Gold is poised to join the “all-time-highs” club in the upcoming decade. No, this isn’t the musing of some gold-bug. It’s analysis from a pretty mainstream source — Bloomberg Intelligence. Stocks have set new records over the last several weeks and the dollar hit 2-year highs this fall. But writing in the commodity outlook, Bloomberg

Serbia, Slovakia Join Sudden Eastern European Gold Repatriation Push

The gold rush continues…

Just a few short days after Poland’s government touted its economic might after completing the repatriation of 100 tons of the barbarous relic; and with Hungary’s anti-immigrant Prime Minister Viktor Orban also ramping up holdings of the safe-haven asset to boost the security of his reserves, more Eastern European nationalist leaders are demanding their country’s gold back on home soil.

As Bloomberg reports, former Slovak Premier Robert Fico, whose odds of returning to power are rising quickly, urged parliament to compel the central bank into repatriating the nation’s gold stocks, which are currently stored in the U.K..

Zijin Mining to buy Canada’s Continental Gold in $1 billion deal

Zijin Mining, China’s No.1 gold producer, is buying Canadian miner Continental Gold (TSX: CNL) for almost C$1.4 billion ($1bn), in a move aimed at increasing the company’s bullion reserves and boosting cash flow as well as profit.

The mining giant is offering C$5.50 a share in cash, a
premium to Friday’s close price of C$4.87. The friendly deal will give it
access to Continental’s main asset — the Buriticá gold project in Colombia — which
is expected to begin production next year.

How Inflation, Prudence, And Fundamentals Are Setting Up Gold To Soar

International Man: Governments around the world, including the United States, are printing trillions of currency units. This will continue to significantly devalue these paper currencies and create inflation.

Doug Casey recently said:

With all the money that’s been created by governments and central banks, the chances are excellent we’re going to have a gigantic bull market. Maybe the last one, since I expect the world is going back to using gold as money—at which point we’ll have a stable gold price.

Afghanistan cancels contract to US gold, copper miner

Afghanistan’s news agency Khaama Press informed this weekend that President Mohammad Ashraf Ghani cancelled the contracts held by the Turkish Afghan Mining Company TAMC and the Afghan Gold and Mineral Company AGMC, which allowed them to exploit the Badakhshan gold mine and the Balkhab copper mine in the northern Sar-e-Pul province.

Both TAMC and AGMC are JVs formed by US-based Central Asian Resources Limited, better known as CENTAR.

According to the news report, the country’s economic council, which is chaired by the president, made the decision arguing the companies have not fulfilled their contractual commitments.

Global Snapshot: Gold and silver exploration projects to watch

With the rise in the price of gold over the past year, precious metals exploration has picked up steam worldwide. Below we feature eight companies across the exploration, development and production spectrum that maintain a focus on discovery.

Compass Gold

Compass Gold (TSXV: CVB; US-OTC: COGDF) is focused on the Farabakoura gold discovery in southern Mali. The company wholly owns the 850-sq.-km Sikasso project consisting of nine permits within the Birimian gold belt.

European Central Banks Are Slowly Preparing For Plan B: Gold

Written by Jan Nieuwenhuijs of Voima,

It was long believed in the gold space that Western central banks are against gold, but things have changed, for quite some years now. Instead of discouraging people from buying gold, or convincing them that gold is an irrelevant asset, many of these central banks are increasingly honest about the true properties of this monetary metal. Stating that gold is the ultimate store of value, that it preserves its purchasing power through time and is a global means of payment.

South Carolina Legal Tender Act Would Treat Gold and Silver as Money

South Carolina Legal Tender Act Would Treat Gold and Silver as Money By Michael Maharrey for Libertarian Institute A bill prefiled in the South Carolina House would make gold and silver coins legal tender in the state. Passage of this…
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