Gold news from around the world from one of the oldest bullion houses in the UK.
Gold Price Not Responding To Economic Turmoil
Many analysts remain baffled as to why gold prices have not responded to the Greece bailout situation, the US interest rates increasing, and the falling Shanghai Index.
Historically, gold generally does well when there are periods of economic uncertainty. During the banking crises recently many people invested in gold; the precious metal was seen as a safe haven.
Gold Investments’ Oliver Temple writing previously believes that investors are holding back and in particular waiting to see how the situation in Greece develops.
See Oliver Temple’s gold news expert analysis on the precious metal’s prices here.
India’s Sovereign Gold Bond Scheme Welcomed By World Gold Council
The World Gold Council (WGC) has welcomed the Indian Government’s proposal on issuing sovereign gold bonds. The aim of the proposed scheme is to reduce demand for physical gold in the country.
WGC India Managing Director – Somasundaram PR – said the bonds could be used for investments as well as collateral for loans. Somasundaram added that the bonds would also give consumers greater choice.
Savers will be able to trade or sell the new bonds on commodity exchanges.
China Biggest Buyers Of Gold Jewellery
Chinese consumers are still the biggest buyers of gold jewellery, followed by India, according to a new report by the World Gold Council.
In the first quarter of 2015, China acquired 213.2 tonnes gold jewellery. India consumers bought 150.8 tonnes. Iran bought the least amount of gold jewellery during this period, purchasing 9.8 tonnes.
Gold Coins Worth 45,000 Euros Discovered
An historical collection of gold coins – worth an estimated 45,000 euros – has been found in Germany by an amateur archaeologist.
A total of 10 coins were initially discovered by Florian Bautsch in a hollow under a tree near Lueneburg, in the north of the country. Another 207 coins were then excavated by professionals.
Experts believe the coins were probably buried during or shortly after World War Two.
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