Tag Archives: gold

Russia is dumping US dollars and hoarding gold

Russia gold hoarding US dollar

Vladimir Putin’s quest to break Russia’s reliance on the U.S. dollar has set off a literal gold rush. Within the span of a decade, the country quadrupled its bullion reserves, and 2018 marked the most ambitious year yet. And the pace is keeping up so far this year. Data from …

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US military accused of stealing 50 tons of gold form Syria

US military steal 50 tons gold Syria

The U.S. Army is transferring tons of gold from Daesh-held areas in Syria to the U.S., multiple reports said. According to a source who spoke to Kurdish Bas News Agency, the U.S. forces transferred about 50 tons of gold from areas seized from Daesh terrorists in eastern Syria’s Deir el-Zour …

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Switzerland chooses gold over paper wealth backed by US dollar

Switzerland gold paper wealth backed US dollar

Another country is betting on physical gold. Switzerland’s pension fund has boosted its investments in bullion, switching from the paper-backed securities in US dollars. “The Swiss government Pension System decided to change from paper gold in the amount of 700 million CHF into physical gold and store it in Switzerland. …

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China claims gold reserves at end of 2016 a massive 12,100 tonnes

Chinese gold reserves 2016

China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association. China has been the world’s biggest gold producer for 10 years and the largest consumer of the metal for four years, it …

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Market manipulation: $4 billion of gold futures ahead of Comey testimony

Just minutes ahead of James Comey’s testimony that many hoped would lead to Trump impeachment, it appears someone decided it was an opportune time to dump $4 billion notional gold futures, seemingly confident this will not be a “constitutional crisis.” Over 30,000 contracts suddenly flushed ahead of Comey… This move …

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Maduro planning to swap Venezuela’s gold for dollars

Nicolas Maduro Venezuela gold dollars

It was almost exactly two years ago when a cash-strapped Venezuela quietly conducted its first, little-noticed gold-for-cash swap with Citigroup, as part of which Nicolas Maduro converted part of his nation’s gold reserves into at least $1 billion in cash courtesy of the US bank. As Reuters reported then, the …

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Trump’s missiles blow investors into safe havens

Investors safe havens Trump

Even before missiles flew out of America’s warships to bomb Syrian military bases, gold was slowly increasing in value in anticipation of the Trump-Xi summit. After the bombs landed, gold has hit a 5 month peak as investors look for safe havens. Other safe havens such as the Japanese Yen …

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