Author Archive

India amends gold tax laws

The Finance Ministry in India has proposed wide-ranging amendments to tax laws for gold ETFs and gold funds that fall under the non-equity mutual funds. As per the new law, gold ETFs and gold funds will be

Gold gains to come?

Today’s AM fix was USD 1,305.00, EUR 971.20 and GBP 768.55 per ounce. Friday’s AM fix was USD 1,292.50, EUR 961.18 and GBP 761.64 per ounce. Gold climbed $15.00 or 1.16% Friday to $1,307.40/oz and silver shot

Mumbai airport has record gold seizures

The latest statistics released by the Air Intelligence Unit of India Customs suggests that the quantity of smuggled gold seized at Mumbai International Airport during the first half of the year is the highest in the past

Is Bitcoin a bubble?

We still support long, speculative positions, stop-loss at $550. Bitcoin is still perceived by financial professionals as a possible bubble, a poll by Bloomberg has shown: Bitcoins, which lost 45% of their value after skyrocketing to more

Indian gold import duty unchanged

The maiden Budget presented by the newly elected government in India disappointed the gold industry in the country. Contrary to expectations by the industry participants, the Indian Finance Minister decided to keep the import duty on gold

Further declines or rebound for crude?

On Wednesday, crude oil lost 1.48% as the reported resumption of Libyan crude production and the EIA weekly report on U.S. inventories weighed on the price. As a result, light crude hit its lowest level since June 5 and

Saudis take up defense

Saudi Arabia is a target for both sides in Iraq’s deepening conflict, one reason it has ramped up security levels to confront a threat that’s more immediate than the Arab Spring revolts three years ago. The world’s

How close is the US to energy independence?

It has been more than a year since Citigroup Inc. published “Energy 2020: Independence Day,” outlining the impacts of progress toward North American energy self-sufficiency. For this special 4th of July edition of The Energy Report, we reached

Gold bulls weary

Gold held near a three-month high as investors weighed a weaker dollar against speculation the metal’s advance will spur traders to sell. The dollar was little changed near a seven-week low against a basket of 10 major

Geopolitical tensions placing pressure on gold and silver

The gold price looks set to post its second consecutive quarterly gain later today. It is currently hanging around its two-month high of $1,325.90. Silver is also ready to post its second-quarterly gain but has extended a drop in