Blog
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A Russian coin dealer’s lessons on gold ownership
- January 28, 2015
- Posted by: Orkan Ozkan
- Category: Coins
2 CommentsWhat can the recent crash of the Russian ruble teach us about gold ownership? Dmitriy Balkovskiy, a Russian coin dealer in Moscow, has some insight. On December 16, 2014, a day deemed the “Russian Black Tuesday”, the ruble dropped from 58 to 72 per U.S. dollar. In an article for Casey Research, Balkovskiy recalls some incidents he witnessed that
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How Turkey puts “under-the-pillow” gold to work
The people of Lydia, an ancient kingdom in modern-day western Turkey, were the first people to use gold and silver coins around 610-550 BCE. Today, Turkey is the fourth largest consumer of gold in the world and accounts for 6% of global consumer demand. The World Gold Council’s (WGC) latest report Turkey: gold in action examines
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Hedge funds most bullish on gold in two years
Data from the Commodity Futures Trading Commission released on Friday showed hedge funds increased their long positions on gold by 19.7% in the week of January 20, bringing them to a two-year high. Short positions fell, translating to a net 27% more long positions. The last time hedge funds had this many long positions in gold was December 2012, when
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This Week in Gold: Gold’s Comeback
- January 24, 2015
- Posted by: Orkan Ozkan
- Category: This Week in Gold
It was a busy news week for gold. The European Central Bank announced on Thursday that it will buy 60 billion euros worth of assets per month through September 2016 – a quantitative easing plan like the one the United States implemented from 2008-2014. In response, the euro tanked and gold rose back above $1,300/oz.
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Inflation gone wild: The 5 most extreme cases of hyperinflation
- January 23, 2015
- Posted by: Orkan Ozkan
- Category: Government
Would you believe that at one point in Hungary’s history, prices of goods could double in just 15 hours? Or that in 1923 Germany a loaf of bread cost 200 billion marks? Or that Zimbabwe’s former currency has been printed in denominations as high as 100 trillion? These are real-life historical examples of hyperinflation –
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Gold back above $1300 after ECB announces stimulus plan
- January 22, 2015
- Posted by: Orkan Ozkan
- Category: News
Gold finished above $1,300/oz. for the first time since August on Thursday after the European Central Bank (ECB) announced a quantitative easing program. The announcement drove investors toward gold as a store of value and a safe haven asset. The ECB will buy 60 billion euros worth of assets per month through September 2016. The euro
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Germany wants its gold back!
On January 16, 2013 Germany’s central bank, the Deutsche Bundesbank, announced it would bring its 374 tons of gold reserves stored with the Banque de France in Paris and its 300 tons stored with the U.S. Federal Reserve in New York back to Germany by 2020. By the end of 2013, the Bundesbank had only brought home a
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This Week in Gold: Biggest weekly gain in 18 months
- January 16, 2015
- Posted by: Orkan Ozkan
- Category: This Week in Gold
“Market chaos as Switzerland scraps cap against euro” “Switzerland Ambushes the Global Economy” “Why the World Is Freaking Out About Switzerland Today” “Tiny Switzerland has thrown a big wrench into global financial markets” “THE SWISS FRANC IS OUT OF CONTROL” These are just a few of the headlines from this week regarding the Swiss National
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SNB shocks markets; forecaster says “Gold should be over $2000/oz”
- January 15, 2015
- Posted by: Orkan Ozkan
- Category: Stocks
It’s been a momentous week for gold, and it’s not over yet. Spot gold jumped more than 2% on Thursday, extending gold’s now five-day rally – its longest rally in over six months. The move came after the Swiss National Bank (SNB) abandoned its national currency cap of 1.20 Swiss francs per euro, sending markets into a frenzy.
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Gold hits 12-week high as stock markets, currencies struggle
Gold reached a 12-week high on Tuesday as falling oil prices led to volatility in stock markets and currencies. Spot gold peaked around 4:00am EST at $1,243.60/oz., its highest price since mid-October. The price retreated after European stocks and the U.S. dollar recovered from early lows, but low oil prices have kept it elevated above $1,235/oz. Struggling
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