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Gold Fields Minerals Services (GFMS), the London-based metals consultancy, says that the sale of scrap gold in India and the Middle East this year is down compared with prior years. India and the Middle East are “price-sensitive” regions where gold sales usually increase with gold price increases. However, this year the average quarterly volume of
In my last post, I noted that Jessica Cross, CEO of Virtual Metals, had forecasted $900 gold in 2008. Now, Citigroup (Citibank) sees the possibility of $1,000 gold if the US economy goes recessionary. If we do see a recession, Citigroup ranks gold as the best likely performer, followed by copper, aluminum and zinc, with
Resourceinvestor.com has posted an interview with Jessica Cross, CEO of Virtual Metals, who says “we’re going to be very surprised if we don’t see $900 an ounce in 2008.” Obviously, $900 gold within twelve months would be another major move. If we do see $900 in 2008, then we have to be ready to accept,
The most often given reason for buying gold and silver by new investors is concern about the dollar. And, rightfully so. The dollar is in a precipitous decline in the foreign exchange markets, brought on by decades of deficit spending by our federal government. The fedgov’s deficit spending really got started after President Nixon “closed
Last week premiums on Silver Eagles jumped as word spread that the U.S. Mint had run out and would ship no more this year. However, at the start of this week, the Mint revealed that it would produce more Silver Eagles before year-end. The Mint gave no indication of how many Silver Eagles will be
The U.S. Mint recently announced that it would ship no more 1-oz Gold Eagles until January 2008. This policy has become the norm for the Mint toward year-end when it shuts down production of current-year coins to prepare for minting the ensuing year’s coins. The announcement resulted in an immediate jump in the premiums on
I’ve written before that most CMIGS’ clients know more about the machinations at the Fed than the presidential candidates. That’s not exactly true, however. I would not say that most clients, nor I, know more about the workings of the Fed than GOP candidate Ron Paul. Ron Paul has studied Austrian Economics, which is adamantly
Tourists to the Taj Mahal and other famous landmarks in India will no longer accept dollars for entrance fees. Indian officials blame the dollar’s decline in foreign exchange markets as the reason. In India, the rupee, a currency rarely accepted outside India, is now preferred to the world’s primary reserve currency. This is further evidence
The World Gold Council (WGC), an international organization supported primarily by the gold mining industry, has the goal of increasing public awareness of gold and the demand for gold. In October 2002, James E. Burton was appointed head of the World Gold Council (WGC). Despite not having experience in the gold industry, Burton engineered several
Philip Klapwijk, executive chairman of Gold Fields Minerals Services, a major consultancy based in London, gives his thoughts on the gold market in an interview with resourceinvestor.com. Mr. Klapwijk is not especially concerned with gold’s recent price drop, having thought that gold had “run too far too fast.” He sees not only the chance of
