Gold Standard.
The gold standard was a commitment by participating countries to fix the prices of their domestic currencies in terms of a specified amount of gold. National money and other forms of money (bank deposits and notes) were freely converted into gold at the fixed price.…Read More
Huge gold-encrusted rocks unearthed in Australia.
Miners in Western Australia say they have discovered two huge gold-encrusted rocks that are each estimated to be worth millions of dollars. The largest specimen, weighing 95kg (210lb), was found to contain more than 2,400 ounces of gold, Canadian miner RNC Minerals said. The company…Read More
Saudi Arabia invests in gold mining.
Saudi Arabian Mining Co. plans to invest in the mining industry several billion dollars. Thus, the Arabs intend to increase gold production to 1 million ounces over the next five years. There are also rumors that Saudi Arabia intends to gradually distance itself from the…Read More
Gold exports from USA for 2018.
Net exports of gold from the United States in January 2019 doubled. At the end of 2018, total exports of American gold to other countries amounted to 474 tons. According to the US Geological Survey (USGS), in January of this year, the States sent 31.4…Read More
BoAML: gold and dedollarization of central banks.
American investment bank Bank of America Merrill Lynch (BoAML) recently published a review in which he analyzed the current role of the US dollar and gold in the global economy. The bank’s survey says that the US dollar still remains the leading world currency, but…Read More