Dubai can’t shake off the stain of smuggled African gold
The U.N. has found a discrepancy of at least $4 billion between the United Arab Emirates’ declared gold imports from Africa and what African countries say they exported to the UAE.
Gold is a hedge against bad government decisions
The job of the government and the central bank are simply to create the conditions necessary for people to prosper. They are not doing a very good job at it, judging by the price of gold.
India says it has discovered gold fields in north which could yield over 3,000 tons of ore
India, the world's second-biggest gold consumer, has discovered gold fields with reserves of over 3,000 tons in its most populous northern state, a government official said on Saturday. India mines between 2-3 tons of gold annually, relying on expensive imports to fulfill nearly all of ...
Stocks tumble with oil; yen climbs with Treasuries as fears over coronavirus deepen
Stocks and crude oil prices tumbled, and havens including the yen, gold and Treasuries jumped, as fears deepened about the rising impact of the deadly coronavirus. With no sign of the disease's containment, traders rushed out of risk assets. Contracts on the S&P 500 index ...
The gold standard: Ginza Tanaka is the pinnacle of Japanese metalwork
Ginza Tanaka is determined to carry on the techniques developed by earlier artisans and pass the skills to future generations, offering flawless works made of the highest-quality metals.
Precious metals retailer Tanaka Kikinzoku Kogyo K.K. said Wednesday that it has made a board game using pure gold that is valued at some ¥150 million. The Jinsei Game (The Game of Life) board game uses some 12.4 kilograms of pure gold and weighs some ...
Consumers look for ways to blunt impact of consumption tax hike
Japan's consumption tax on goods and services has arguably been unpopular from the get-go. Introduced at 3 percent in 1989 as a means of improving public finances, the rate was raised to 5 percent in 1997, 8 percent in 2014 and, from Oct. 1 ...
One-stop bourse handling stocks and commodities to launch in Japan in summer 2020
Japan Exchange Group Inc. (JPX) and Tokyo Commodity Exchange Inc. said Tuesday they have agreed on a merger to launch the country's first all-in-one exchange that can handle both stocks and commodity futures. The bourses hope that the new exchange, to be introduced in summer ...
More than 40 million people work in artisanal mining, digging precious ore by hand: report
More than 40 million people around the world work in artisanal and small-scale mining where minerals including gold, diamonds and cobalt are dug up often by hand, a report by the World Bank and development organization Pact said on Wednesday. Increasing demand for metals and ...
Gold tub at Japanese resort recognized by Guinness as world's heaviest
An 18-carat gold bathtub weighing 154.2 kilograms at a Japanese hot spring resort has been recognized by Guinness World Records as the heaviest on the planet, the resort's operator said. The tub worth ¥800 million measures 1.3 meters in diameter, large enough to allow two ...
Venezuela removed 8 tons of central bank gold last week: legislator
At least 8 tons of gold were removed from the Venezuelan central bank's vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of President Nicolas Maduro's desperation to raise hard currency amid tightening sanctions. The gold was removed ...
Two Israeli Tokyo residents arrested over bid to smuggle 220 kg of gold bars into Japan by airmail
The police believe the men belong to a group suspected of similarly smuggling a total of some 4 tons of gold since March 2017, and selling it in Japan.
