The London Gold Fix

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In the London gold fix, a reference price for gold is set twice each business day by five market-making members of The London Gold Market Fixing company.

The fix, as it is known, is widely used as a reference and benchmark price for settling contracts on a given day by players in the gold market and for gold derivatives contracts…

The five-market making members are Société Générale, Scotiabank, HSBC, Deutsche Bank and Barclays. Deutsche Bank announced in 2013 that it was placing its seat on the panel up for sale…

Brief History

The London Gold Fixing company dates back almost one hundred years – the first recognizably modern gold fix was set (telephonically) on September 12, 1919 at 11:00 GMT. The price that day was £4.18s.9d. per fine ounce; the New York price of gold that day was $20.67 per ounce.

But the telephonic method was quickly dropped – the interested parties started to hold formal meetings at the offices of NM Rothschild in New Court, St Swithin’s Lane, London.

The original five founding members were N M Rothschild & Sons; Mocatta & Goldsmid; Samuel Montagu & Co; Pixley & Abell; and Sharps & Wilkins…MORE (bulliondesk.com)

Indian businessman wears $211,000 gold shirt on stroll in Mumbai

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Daily News Reporter NY DAILY NEWS August 7, 2014

Indian businessman Pankaj Parakh looks like a mint — though not exactly full of mirth — as he takes 45th birthday stroll in a 10-pound gold shirt in Mumbai on Wednesday.

The $211,000 shirt, which is spun from pure 18- to 22-karat gold, is intended to make an impression, not only on passersby, but to get him into the Guinness Book of World Records…

Pankaj Parakh had a small army of bodyguards with him as he went for his 45th birthday walk, to protect his 10-pound bling shirt. MORE (NY Daily News)

UK: Alston pupils unearth 4,000-year-old gold hair tress

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BBC 4 August 2014: A group of schoolboys has unearthed a rare 4,000-year-old ornament during a dig in Northumberland.

The children, from Alston Primary School in Cumbria, were taking part in an excavation at Kirkhaugh when they saw a glint of gold in the soil.

The object, which was found in a burial mound, is believed to be a decorated hair tress from about 2,300 BC…MORE (BBC)

Gold Kennedy coin a draw at Rosemont show

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Gold Kennedy coin a draw at Rosemont show Mitch Smith, Tribune August 5, 2014
Chicago-area coin buyers had dibs Tuesday on a new gold half dollar, with eager numismatists forming a three-block line in hopes of adding to their collections, organizers said.

The special half dollar, which depicts President John F. Kennedy and celebrates the coin’s 50th anniversary, was sold at the World’s Fair of Money in Rosemont. Though sales didn’t start until late Tuesday morning, event spokesman Donn Pearlman said collectors from California staked out the first spot in line at about 11 p.m. Monday…MORE (Chicago Tribune)

Dr. Paul Craig Roberts – The Entire U.S. Gold Hoard Is Now Gone

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Former Assistant Treasury Secretary Dr. Paul Craig RobertsToday (June 27, 2014) former US Treasury official, Dr. Paul Craig Roberts, told King World News that the entire United States gold hoard, including gold supposedly held at the Fed for other countries, is now gone.  This is very bad news for Germany and other countries which have trusted the Fed to safely store their gold.  Below is what Dr. Roberts had to say in this remarkable interview.

Eric King:  “Dr. Roberts, I know you’ve seen the report on Bloomberg about Germany (all the sudden) supposedly being happy with storing their gold at the New York Fed.  It seemed to be a propaganda piece.  What was your take when you saw that?”

Dr. Roberts:  “Clearly what that means is that the United States doesn’t have the gold and cannot deliver it — and has forced Germany to come to terms with that, and to stop asking for it since it can’t be delivered….MORE (KingWorldNews.com)
Full Audio Interview .MP3
Paul Craig Roberts Wikipedia

Tampa’s Odyssey Marine Exploration recovers booty worth millions from Atlantic shipwreck

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Associated Press July 17, 2014Odysseey Explorer strikes gold (Photo: DIscovery Channel)

CINCINNATI — Tampa’s Odyssey Marine Exploration has recovered thousands of gold and silver coins and more than 40 heavy gold bars easily worth millions of dollars, say unsealed court documents that provide the first detailed inventory of a treasure trove being resurrected from an 1857 shipwreck at the bottom of the Atlantic Ocean.

…The inventories, unsealed by a federal judge in Virginia late Wednesday, show that Odyssey has brought up 43 solid gold bars, 1,300 $20 double eagle gold coins and thousands more gold and silver coins… MORE (TampaBay.com)

Hong Kong Thieves Replace $72 Million in Gold Bars with Worthless Metal

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The South China Morning Post (SCMP) reported that Hong Kong police are investigating a shipment of one ton of gold bullion, worth about $72 million, from Africa to a mainland China businessman after part of the consignment was swapped for metal bars.

On June 5th, Mr. Zhao Jingjun, age 43, opened part of his shipment in front of his buyer in Hong Kong and discovered the gold had been switched for worthless metal. A senior police officer said it would be the city’s biggest heist in a decade if it was confirmed that all the gold had been stolen…MORE (Breitbart.com)

The vodka laced with drinkable gold

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…From a Hong Kong vodka distiller there is now – almost literally – gold that you drink.

Two of Royal Dragon Vodka’s three varieties are laced with shavings of “highest quality edible 23-carat gold leaf” that lazily waft in the clear liquid and pour into the glass to become part of your drink.

Yes, you drink gold.

The tiny flakes are surprisingly unobtrusive to the drinking experience, almost seeming to melt on the tongue with a lightly sweet flavour, and no hint of metallic aftertaste…MORE (SMH.au)
Royal Dragon Vodka

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