Here’s why today’s gold price is going down…
Illegal gold mining is a growing problem that’s costing countries millions.
“Countries are losing significant funds,” United Nations Interregional Crime and Justice Research Institute (UNICRI) director Jonathan Lucas said to The Wall Street Journal this week.
Today’s gold prices fell to levels not seen since mid-June.
There’s a reason behind gold prices’ narrow trading range of late.
Gold mining stocks have benefitted from gold prices’ 6.24% rise in 2014 – with some rising as much as 13 times the gain in physical gold.
Gold prices today (Wednesday) were up a whopping $18.70 an ounce (up 1.43%) as of 12:30 p.m. EDT. Spot gold traded at $1,307.30 an ounce after closing at $1,288.60 an ounce in the previous session.
Gold market news, July 30, 2014: On July 25, South Africa’s Rand Refinery – the biggest processing facility for gold in Africa and one of the biggest worldwide – announced it will receive a shareholder loan to make up for “lost” 87,000 ounces (2.7 tons) of physical gold in its inventory. The press release describes what amounts to a $112 million loss at current gold prices, making this one of the strangest stories to hit the gold market in 2014.
The post Strangest Gold Market News of 2014: Top Refinery Loses 2.7 Tons of Gold appeared first on Money Morning – Only the News You Can Profit From.
Watch for the gold spot price – the price of gold for immediate delivery – to make dramatic moves as the Federal Open Market Committee (FOMC) meets this week.
This morning (Thursday), General Motors Co. (NYSE: GM) reported second-quarter earnings. The market didn’t like what it saw
Google Inc. (Nasdaq: GOOG, GOOGL) reported second quarter 2014 earnings after the bell on Thursday – and the reaction of Google stock reflected happy investors.
