Offshore Capitalist

Category Archives: Gold

Top 20 Holders Of Gold

April 30, 2010 in Gold by Roy

World Official Gold Holdings March 2010
The World Gold Council publishes a monthly table of the gold reserves held by countries around the world.  Here’s the latest:

Additionally, the physically-backed SPDR Gold Shares ETF currently holds 1,159 tonnes, which places it as the world’s 6th largest holder, between France and China.

The top gold manager believes boom has years to run

April 25, 2010 in Gold by Roy

BlackRock gold guru Evy Hambro believes central banks will power the gold price forward for years to come.
Hambro says the supply and demand fundamentals of the precious metal are supportive of the current $1,150 price after some of the biggest central banks in the world became net buyers again.
Hambro manages around $30 billion in assets [...]

China Gold Demand May Double Within Decade, WGC Says

March 29, 2010 in Gold by Roy

March 29 Bloomberg — Gold consumption in China may double within the next 10 years, boosting prices as supplies fail to keep pace with booming demand from investors and the jewelry industry, the World Gold Council said.
“China has an insatiable appetite for gold, which looks likely to continue in an environment where domestic mine supply [...]

Gold Fundamentals Remain Strong – WGC

March 22, 2010 in Gold by Roy

London, United Kingdom: Suggestions of a gold price ‘bubble’ do not take account of gold’s market fundamentals, which remain robust, said World Gold Council. The gold price has been building steadily for nine consecutive years, ending 2009 25% higher than on 31 December 2008 at US$1087.50/oz. The PM gold fix in London on Monday 1 [...]

5 Year Gold Price Chart

December 6, 2009 in Charts, Gold by Roy

Five-year chart of gold price (GC.1) to 4-Dec-2009 (from FT.com).   To remind yourself what GC.1 is, read this.
Click the image to see full size.
via FT.com / Markets data / GC.1:CME: Performance for COMEX GOLD 1 FUTURES CHAIN Front Mon.

China Gold Consumption

December 6, 2009 in Gold by Roy

China, the world’s largest producer of gold is all set to overtake India in gold consumption. A new study from global metals consultancy GFMS says that China is all set to beat India in gold consumption.
Here are the details:
**Gold jewellery and investment demand in China in 2009 is expected to reach 432 tonnes, compared with [...]

Gold is not luring Warren Buffett

December 6, 2009 in Gold by Roy

NEW YORK Commodity Online: A gold boom is on and despite the ‘bubble talk’ on gold, every investor worth the name is running after the shining metal. From Jim Rogers to John Paulson, most investors or investing analysts have argued that gold is the best investment bet against rising inflation and declining US dollar value. [...]

Gold Demand Remains Robust As Economic Conditions Improve

November 21, 2009 in Gold by Roy

Total identifiable gold demand for the third quarter 2009 reached 800.3 tonnes, or US$24.7 billion in dollar terms, up 15% from the second quarter, as gold’s long-term store of value and wealth preservation qualities continued to attract investors and consumers. Jewellery and investment demand in non-western markets rebound from the very low levels seen in [...]

Royal Mint cashes in as gold market coins it

November 20, 2009 in Gold by Roy

The Royal Mint has dramatically ramped up production of gold coins as demand for the precious metal continues to surge.Production more than quad­rupled to 32,735.8 ounces – just over one tonne – in the third quarter, from 7,500.2 ounces in the same period last year.
The increase is even more striking considering that the third quarter [...]

Chinese demand for platinum ‘to hit record high’

November 18, 2009 in Other Precious Metals by Roy

Chinese demand for platinum jewellery is soaring towards a record annual high thanks to a sharp drop in the precious metal’s price, leading metals group Johnson Matthey forecast on Tuesday.
In a key report on platinum, Johnson Matthey said the metal would trade between 1,280 and 1,550 dollars an ounce during the next six months — [...]

Silver all set to outshine gold in 2010

November 17, 2009 in Other Precious Metals by Roy

Silver may yet outshine gold in 2010 as spot prices for the white metal respond to the prospect of a surge in industrial demand. With a little additional help from investment demand, silver may even rally into the $25 an ounce range.
So says Chintan Parikh, a commodity analyst at the CPM Group – a leading [...]

Harrods reports strong sales of gold with the 100 gram bar the most popular

November 17, 2009 in Gold by Roy

Gold hovered around the $1,100/oz mark as the week closed having reached an all-time high on Thursday on a weaker US dollar and the continued appetite from investors for the precious metal’s haven attributes.
Demand for gold continues to be strong with Harrods recently getting in on the act by selling gold bars and coins to [...]

Jim Rogers ‘rogered’ by Roubini

November 5, 2009 in Economics, Gold by Roy

LONDON (Commodity Online): A gold forecast by global commodities guru Jim Rogers has turned controversial. Nouriel Roubini, the global economist who predicted the economic crisis, says the gold forecast by Jim Rogers that the yellow metal will double to $2,000 or more an ounce is “utter nonsense.”
“Maybe, gold will touch $1,100 or so but $1,500 [...]

India buys half of IMF’s gold for sale

November 4, 2009 in Gold by Roy

MUMBAI/WASHINGTON, Nov 3 (Reuters) – The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India for $6.7 billion, quietly executing half of a long-planned bullion sale that has threatened to slow gold’s ascent.
The deal, which surprised traders who expected China to be the most likely buyer, will relieve the [...]

China won’t sell dollars to buy gold

October 27, 2009 in Currencies, Economics, Gold by Roy

DUBAI Commodity Online: China is on a gold buying spree these days to ensure that the country overtakes the United States in gold reserves.
China, which is “underweight” on gold holdings, will increase buying as the economy expands, said Jeffrey Rhodes, chief executive officer of INTL Commodities DMCC. China’s 1,054 tons of gold represents less than [...]

A Fund For Mining, Metals and Energy Natural Resources

October 20, 2009 in Energy, Funds, Gold, Metals, Mining by Roy

JP Morgan Natural Resources (a UK OEIC) is a highly respected fund managed by Ian Henderson, with colleague Stuart Connell.  With an overall Morningstar 4-Star rating, the fund’s objective is long term growth by investing primarily of shares in companies throughout the world engaged in the production and marketing of commodities.
As at today’s date, the [...]

Experts are agreed: gold price will go a lot higher

October 12, 2009 in Gold by Roy

The dramatic climb in the gold price so far is just the start, with plenty more money to be made as the precious metal climbs further, experts have said.
Despite soaring by around 17% in the last three months alone, to a peak of $1,061 per troy ounce last week, the price is widely expected to [...]

A fund to invest directly in Gold, Silver & Platinum

October 11, 2009 in Funds, Gold, Other Precious Metals by Roy

Castlestone Aliquot Precious Metals
“Aliquot Precious Metals gives investors direct exposure and entitled ownership of Gold Bullion, Silver and Platinum which is held by the Custodian (HSBC Bank USA) in London. Independently administered by Circle Investment Support Services, B.V. Precious Metals are a store of value. Their unique qualities allow them to perform an invaluable hedging [...]

A fund with a focus on gold equity

October 11, 2009 in Funds, Gold by Roy

Blackrock World Gold USD
The World Gold Fund seeks to maximise total return. The Fund invests globally at least 70% of its total assets in the equity securities of companies whose predominant economic activity is gold-mining. It may also invest in the equity securities of companies whose predominant economic activity is other precious metal or mineral [...]

United State Mint Suspends Production Of Non-Mandated Gold Coins To Meet Demand

October 10, 2009 in Gold by Roy

WASHINGTON – The United States Mint announced today that it will offer for sale 2009 one-ounce American Buffalo Proof Gold Coins and one-ounce American Eagle Platinum Proof Coins. The release dates for these products are tentatively October 29 and December 3, 2009, respectively. In addition, the agency will release the one-ounce 2009 American [...]

Gold Trackers In Europe

October 10, 2009 in ETFs, Gold by Roy

ETF, ETC, T-ETC, ETN Or Certificate?
Exchange-traded product names seem designed to confuse, particularly so when it comes to commodities.
The UCITS rules for collective investment schemes, which apply to European Union member states, require a minimum level of diversification. Therefore, within the EU, a legal entity tracking a single commodity cannot be set up as a [...]

The Price Of Gold

October 4, 2009 in Charts, Gold by Roy

Gold Futures Contracts
Like all physical commodities, the ‘price’ of gold must take into account the when and where delivery is required.  The price of a contract to deliver 1000 ounces of gold tomorrow will be different to the price to deliver it in a month, or two months.
For example COMEX (part of the CME Group [...]

Gold – Backgrounder

October 4, 2009 in Gold by Roy

Perhaps no other market in the world has the universal appeal of the gold market. For centuries, gold has been coveted for its unique blend of rarity, beauty, and near indestructibility. Nations have embraced gold as a store of wealth and a medium of international exchange; individuals have sought to possess gold as insurance against [...]

Gold is the world’s only safe currency

September 30, 2009 in Gold by Roy

Cheviot investment manager William Buckhurst explains why gold is an ultimate store of value and why it is the safest currency in the world.
Gold is traditionally seen as a safe haven that benefits during periods of financial dislocation, yet during 2008 it rose by only 6% in US dollar terms whereas other safe-haven assets such [...]

Fidelity EMEA fund manager talks up platinum as alternative hedge to gold

September 24, 2009 in Other Precious Metals by Roy

Investment house Fidelity has been talking up the merits of platinum as an alternative inflation hedge. The group’s EMEA Fund manager, Nick Price, said that an imbalance between supply and demand could make platinum a more attractive proposition to investors than gold and therefore a better inflation hedge.
Both platinum and gold are positively correlated to [...]

The IMF’s strictly limited gold sales approved

September 22, 2009 in Gold by Roy

On September 18, 2009, the Executive Board approved the sale of 403.3 metric tons of gold (12.97 million ounces), which amounts to one-eighth of the Fund’s total holdings of gold. In accordance with the priority of avoiding disruption of the gold market, the Executive Board adopted modalities for the gold sales consistent with guidelines it [...]

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