Austrian Mint’s Vienna Philharmonic 20 Ounce Gold Coin celebrates a 20 Year Success Story

Twenty years ago in 1989 the Austrian State Mint passed from the Treasury into the ownership of the central bank. The mint was given the freedom to produce and sell products in accordance with the demands of the modern numismatic and investment markets. One of the very first innovations introduced by the new CEO, Paul [...]

New thinking needed on Eskom electricity tariff – Harmony

South Africa needed to apply its mind to solving the electricity price issue to avoid widespread knock-on effects that would seriously stunt economic growth and spark a new round of wage demands, Harmony Gold CEO Graham Briggs said on Friday. The head of South Africa’s third-largest gold-mining company said that increasing the electricity tariffs by [...]

Rio Tinto doubles 2010 capex to at least $5bn

Global diversified miner Rio Tinto has doubled its planned capital expenditure (capex) for 2010 from the previously anticipated $2,5-billion to between $5-billion and $6-billion. The miner had previously expected to reduce its capex to a sustaining level of $2,5-billion, but said on Friday that it would now spend at least $5-billion in capex in 2010, [...]

Spectrum Numismatics International, Inc. Names New Senior Numismatist

IRVINE, Calif. – Spectrum Numismatics International, Inc., one of the world’s largest rare coin and currency dealers, announced today that it has hired Richard Melamed as their Senior Numismatist.   "Richard Melamed is one of the most respected numismatists in the industry.  During his 36-year career, Melamed has done everything from running his own coin [...]

Chinese gold jewellery sales predicted to soar

Sales of gold jewellery will see double-digit growth in China by the end of 2009, it has been predicted. Speaking to Bloomberg, Hong Kong Resources Holdings chairman Kennedy Wong said his company had recorded a 16 per cent rise in gold and other jewellery in China in the first nine months of the year.The news [...]

Mining ‘wall of debt’ severely constraining global supply growth prospects

The severe debt position faced by the world’s biggest mining companies will have an adverse impact on future supply growth and hence could lead to sharply higher commodity prices. Read more….

Weekly Market Recap 10/23/09

ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday that gold prices could rise to a high of $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth, as reported to Reuters. The unemployment rate has been increasing at an alarming rate, yet the [...]

Chinese Citizens Significantly Increasing Gold and Silver Ownership

Mark O’Byrne submits: Gold Gold closed Friday night trading at $1,058.70/oz. In euro and GBP terms gold is trading at €704.55/oz and £642/oz. Gold looks set for its fourth week of gains (if it can remain above $1,053/oz) and this would be bullish technically. While fears about the Chinese economy may have led to some [...]

The Golden Road Out of Financial Crisis

The Daily Reckoning “Who goes borrowing, goes sorrowing.” – Ben Franklin Today’s reckoning is going to be short. We’re on the road again…this time to Ireland where our Family office is headquartered. The quote above comes from one of America’s founding fathers. But it was recalled to us neither by America’s president, nor America’s secretary [...]

Brand Disloyalty

The Daily Reckoning The US dollar is a sort of monetary brand. And like any other brand, it can fall out of favor. Even iconic brands can rapidly lose their “must-have” caché. Sometimes, a brand can disappear entirely, as did Pan American Airways or “Members Only” jackets. But there is always something else waiting to [...]

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