Anyone with even a passing interest in US official gold reserves will probably recall that the US Treasury claims to hold its gold (8,133.5 tonnes) over four locations in continental United States, namely at three US Mint facilities in Fort Knox (Kentucky), West Point (upstate New York), Denver (Colorado), and at the New York […]
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There are many precious metals refineries throughout the world, some local to their domestic markets, and some international, even global in scale. Many, but by no means all, of these refineries are on the Good Delivery Lists of gold and/or silver. These lists are maintained by the London Bullion Market Association (LBMA) and they […]
Gold and silver prices plummeted in May. U.S. Mint bullion coin sales, however, were exceptional for the month. Gold for August delivery edged up 80 cents, or less than 0.1%, to settle at $1, 217.50 an ounce on the Comex division of the New York Mercantile Exchange. Elsewhere in bullion trading, silver for July […]
Within the last 2 months, there have been aseries of developments in the London Gold Market, each of which has involved Chinese-controlled banking group ICBC Standard Bank Plc. Therefore, within a period of approximately 6 weeks, ICBC Standard has positioned itself front and centre of the closely protected London bullion trading, clearing and vaulting […]
What does one hundred trillion dollars buy you? How about a mansion in every country, an airplane at every airport and a private island in every ocean? How about 3 eggs? When Zimbabwe issued its infamous 100 000 000 000 000 dollar bill, it could buy 3 eggs on the day it was issued. […]
The value of an ounce of gold has decreased by more than $52.30 an ounce in the last week, and today the U.S. Mint lowered prices on its gold collector coins. Gold’s current value is $1,220.60 per ounce, according to the London Bullion Market Association; this iswell below the minimum for the previouspricing bracket, […]