Russia Buys Over 81,000 Pounds of Gold in September

Russia added mightily to its national gold reserves, purchasing over 37 metric tons of gold bullion last month as the country continues to accumulate an impressive holding of the precious metal. The move is the largest that we have seen out of Russia since the country defaulted on its national debt in the late 1990’s. Russia now controls the worlds fifth largest gold reserves with 1150 metric tons of gold.

The purchase cost Russia an estimated $ 1.50 billion and added to a conspicuously increasing stockpile of gold.  Earlier this year, the country made additional purchases that now have Russia’s national gold reserves larger than China and Switzerland.

The latest buy in September has Russia on the verge of tripling its gold reserves in the last decade.  Russian president Vladimir Putin appears to be committed to stabilizing a Russian economy that is now under international pressure due to the Ukraine conflict.

With […]

By |October 31st, 2014|Categories: Gold News, Invest in Gold|Tags: |

India Jumps Back into the Gold Market

India firmly jumped back into the gold market as sales rose by over 400% in the month of September. Festival demand for gold jewelry spurred the increase in demand.  According to recent data, demand jumped from about 20 metric tons to nearly 100 metric tons last month. This rise in demand was all the more impressive considering that the Indian government raised import taxes on gold jewelry in September for the third time this year.

The rise in gold import taxes was offset by the seasonal demand in India, with the Dhanteras festival jumping into full swing just before the Diwali festival of lights which began on October 23. The Indian wedding season, as usual, kicked the demand for gold coins and jewelry into high gear.  The wave of buying should continue through the festival season ending in November and the Indian wedding season which runs through next May.

Seasonal and cultural […]

By |October 29th, 2014|Categories: Gold News, Invest in Gold|Tags: |

Buying Silver Survival Coins

Investors have a multitude of reasons for when and why they choose to buy certain investments, and those who buy silver coins and bullion have theirs as well. What differentiates these investors a bit, however, is how truly pragmatic the reasons for silver investment often are. Most silver investors are certainly looking for price appreciation of the underlying metal, but they tend to accumulate silver coins and bullion as a true inflation hedge and, perhaps more importantly, as an asset for barter if and when traditional economic and societal controls give way to chaos.

Silver as an investment gained a lot of traction in the 1970’s, as inflation grew at an alarming rate in response to the middle eastern oil embargo and the effect that rising oil prices had on the economy. With price inflation rocketing upward and interest rates peaking at 20% in 1981, many investors were seeking an […]

By |October 27th, 2014|Categories: Buy Silver Coins, Invest in Silver|Tags: |

The JFK Commemorative Half Dollar Gold Coin

The United States Mint has issued a John F. Kennedy gold coin to commemorate the fiftieth year of production of the Kennedy silver half dollar. The proof gold coin features the iconic Gilroy Roberts design of the J.F.K. Profile on the obverse and the American eagle on the reverse.

The J.F.K. gold half dollar contains three quarters of a troy ounce of pure gold, with the 99,99% fineness making it one of the highest quality gold coins available on the market today. The dates on the coin reflect the fifty years that the original J.F.K. half dollar coin has been in production, originally released the year after the tragic assassination of the President. The West Point mint has created a mirror-like finish on the gold coin, an appropriate choice for a nation which often reflects on the presidency of Kennedy and the sense of hope that his brief term gave to so […]

By |October 22nd, 2014|Categories: Buy Gold Coins, Gold News|Tags: |

Gold Demand on the Rise in China and India

Gold has seen a dramatic upswing in sales in China and India, as China ends its Golden Week extended holiday and India gears up for its own holiday season. Chinese consumers increased their gold purchases, reflected in the sales data of retailers as the country concluded its week of celebration of the National Day patriotic holiday. Gold prices jumped to a six dollar premium on the Shanghai Gold Exchange in response to the uptick in domestic gold demand, up sharply from the more common three dollar premium as compared to the benchmark XAU index traded on the NASDAQ.

Some provinces of China saw gold bullion and jewelry sales increase significantly as Golden Week certainly lived up to its name.

Demand from those looking to buy rare gold coins, gold bullion and jewelry has been increasing in India as well, the world’s second largest consumer of the yellow metal. With the Indian […]

By |October 20th, 2014|Categories: Gold News|Tags: |