Gold News
It is the last day of the month and it’s very possible that the gold price in Euros closes at all time monthly closing highs today. The previous all time monthly closing high in Euros was at the end of January this year, when the gold price closed out that month at €1327 – today [...]
On August 15, 1971, President Richard Nixon declared that the United States would no longer honour its promise to exchange US dollars held by foreign central banks for gold at a fixed price of $35 an ounce. The innocuous term ‘Nixon closed the gold window’ that is now widely used to describe this act does [...]
After Ron Paul told Ben Bernanke last week that “the Congress must audit you” it would appear that the rest of Congress agreed. This week Ron Paul’s tireless 30 year effort to get the Federal Reserve audited was rewarded when the Congress passed Paul’s simple one page bill. It passed easily 327 to 98, with [...]
The strength in the Euro gold price shows no signs of letting up. If the gold price in €s can end the week at these levels it will be the second highest ever weekly close for gold in that currency. The last time gold closed higher than this level was in the week that € [...]
Regular readers will not be surprised in the slightest by today’s news from the government funded Office for National Statistics that the UK’s GDP fell 0.7% in Q2 vs Q1 – that’s an annualized FALL of 2.8%. From the report: Key points The chained volume measure of GDP decreased by 0.7 per cent in Q2 [...]
The gold price has popped higher today in most major currencies. In terms of $ gold it is trying to get back above $1600. Gold $: (click for sharper image) In terms of € gold the price action is really starting to get interesting. First up € gold is now only 3% away from making [...]
Last week, the Deutsches Institut für Wirtschaftsforschung (DIW), or German Institute for Economic Research, an influential think tank, proposed an ingenious solution to the Euro Zone debt crisis. The German government should issue a Zwangsanleihe, a compulsory bond that every German with savings of €250,000 or more should be compelled to underwrite with 10 percent [...]
Goldgroup Mining Inc. (“Goldgroup” or the “company”) has released its final assay results from the Caballo Blanco endeavor in Veracruz, Mexico. The main tunnels assay results found 24.2 meters of 1.09 g/t and the crosscut tunnel found 19.35 meters of 1.48 g/t gold. The average sample taken from the drill holes surrounding the tunnel area [...]
The past 11 weeks have seen gold close on a Friday at a very similar level to the previous week’s close. Gold Weekly closes (week beginning): May 7th: $1578 May 14th: $1591 May 21st: $1571 May 28th: $1622 June 4th: $1591 June 11th: $1626 June 18th: $1572 June 25th: $1597 July 2nd: $1583 July 9th: [...]
A local drilling contractor based in South Africa may have developed an alternate gold mining process, dramatically increasing the efficiency of current mining practices. The method was discovered in 1974 but development of it lost traction and was eventually abandoned after failing to find investment. The decline in South African gold production has become an [...]
