International Economic News
For the first time ever, the London Bullion Market Association (LBMA) will begin publishing more comprehensive data on the size of London's bullion market, where billions of dollars of gold are traded each day.
Amid persistently low gold prices, two of the world's best-known mining companies (Barrick Gold and Randgold Resources) are merging to form the largest gold-mining firm on the planet.
As the prices of gold and silver have continued to trend lower in a consolidation pattern during the third quarter, bullion buying around the world has rebounded as investors look for value.
South Africa, once home to the world's top-producing gold mines, has seen a virtual collapse of the industry. New gold mining projects around the world are on the decline, as well.
With the ascendancy of the Chinese economy, the country has embarked on a somewhat under-the-radar mission to undermine the supremacy of the dollar by pricing oil and gold contracts in yuan.
Turkey has joined several other countries that are seeking to repatriate their sovereign gold held by the Federal Reserve in the United States. Does this paint a bleak future for the dollar as the world's reserve currency?
While the global impact of reimposing economic sanctions on Iran remains unclear, one early indicator is a surge in the country's gold demand.
The beginning of the Akshaya Tritiya festival falls on April 18th (today) this year. As usual, the holiday will be accompanied by a surge in gold purchases
Venezuela will demonetize its currency, the bolivar, and replace it with a new "sovereign bolivar" because hyperinflation has made the former worthless.
Despite only a gradual increase in prices over the past two years or so, gold demand for investment purposes (i.e. coins and bars) is set to rise yet again.