Posted: 28 May 2014 03:20 AM PDT

From:http://www.foxnews.com/us/2014/05/27/california-gold-fortune-found-by-couple-goes-for-sale/

Published May 27, 2014Associated Press

SAN FRANCISCO – A treasure trove of rare gold coins discovered by a California couple out walking their dog is set to go on sale.

One of the coins — an 1874 $20 double eagle — is scheduled to be auctioned at the Old San Francisco Mint on at 8:30 p.m. Tuesday.

Don Kagin, whose firm is handling the sale, says most of the remaining 1,400 coins will go on sale on Amazon.com and Kagins.com later in the evening.

Nearly all of the 1,427 coins, dating from 1847 to 1894, are in uncirculated, mint condition, and have been valued at $11 million.

The couple, whom Kagin declined to identify, found them last year buried under the shadow of a tree on their rural Northern California property.

Kagin says there have been numerous theories about the coins' origins, but none have panned out.

What makes their find particularly valuable, said David McCarthy, chief numismatist for Kagin Inc. of Tiburon, is that almost all of the coins are in near-perfect condition. That means that whoever put them into the ground likely socked them away as soon as they were put into circulation.

Because paper money was illegal in California until the 1870s, he added, it's extremely rare to find any coins from before that of such high quality.

"It wasn't really until the 1880s that you start seeing coins struck in California that were kept in real high grades of preservation," he said.

The coins, in $5, $10 and $20 denominations, were stored more or less in chronological order, McCarthy said, with the 1840s and 1850s pieces going into one canister until it was filed, then new coins going into the next one and the next one after that. The dates and the method indicated that whoever put them there was using the ground as their personal bank and that they weren't swooped up all at once in a robbery.

One of the largest previous finds of gold coins was $1 million worth uncovered by construction workers in Jackson, Tenn., in 1985. More than 400,000 silver dollars were found in the home of a Reno, Nev., man who died in 1974 and were later sold intact for $7.3 million.

Gold coins and ingots said to be worth as much as $130 million were recovered in the 1980s from the wreck of the SS Central America. But historians knew roughly where that gold was because the ship went down off the coast of North Carolina during a hurricane in 1857.

Source:http://www.foxnews.com/us/2014/05/27/california-gold-fortune-found-by-couple-goes-for-sale/

27 May 2014 - 上海金交所国际版获人行批准中国谋求黄金定价权

Posted: 28 May 2014 03:18 AM PDT

From:http://gold.hexun.com/2014-05-27/165176994.html

2014-05-27 15:11:00 来源：华尔街见闻

知情人士向路透社透露，中国已经与外资银行和黄金生产商接触，邀请他们加入上海一个全球性的黄金交易所。

作为全球最大的黄金生产和进口国，中国希望扩大在黄金定价方面的影响力。

上周，中国人民银行批准了上海黄金交易所(SGE)在自贸区推出一个全球性的交易平台（黄金国际板），此举可能挑战纽约和伦敦在黄金交易和定价方面的统治地位

。SGE是全球最大的实货黄金交易所，中国国内的银行、矿商和零售商在此买卖黄金。

中国开放黄金交易的计划踩在了基准金价的制定遭到操纵调查的时点上

。上周巴克莱银行因试图操纵有95年历史的伦敦金定盘价成为首家受罚的银行。

中国希望摆脱全球黄金定价中摆脱"跟随者"的角色。

3月初，SGE理事长许罗德曾表示中印对黄金需求旺盛，目前全球"西金东移"趋势非常明显，但是中国黄金市场一直是伦敦、纽约等地黄金市场的"影子市场"，中国金银市场吸纳能力占据全球一半以上，却没有价格发言权，黄金国际板用人民币定价而非美元定价，也是为了让中国在全球黄金定价中摆脱"跟随者"的角色。

许罗德当时所说的SGE将引入境外投资者参与交易，相关合约包括目前上海黄金交易所中的黄金合约以及迷你黄金合约也在一定程度上得到了证实。

路透援引两位消息人士称，SGE已经邀请汇丰、澳新银行、南非标准银行、渣打银行和加拿大丰业银行加入该交易平台。他们还表示，SGE可能也向外资经纪商和黄金生产商开放平台。

另一名取得SGE资料的消息人士告诉路透，上海交易所将推出三种人民币计价现货黄金期约，分别为100克、1千克及12.5千克。

根据中国黄金协会的数据，2013年中国黄金消费量首次突破1000吨，达到1176.40吨，同比激增41.36%，超越印度成为全球最大的黄金消费国。同时，2013年中国黄金产量达到428.163吨，连续七年位居世界第一。

上海自贸区"粮仓"已备，只待"弹药"。早在去年11月，全球四大贵金属运输和存储企业之一玛卡米亚（Malca-Amit Global）就将一个可容纳2000吨黄金的金库落户上海自由贸易区，其容量相当于2013年中国黄金预估消费量的2倍。

Source:http://gold.hexun.com/2014-05-27/165176994.html

27 May 2014 - Faber On Gold: “I Buy More Every Month”

Posted: 28 May 2014 03:16 AM PDT

From:http://news.goldseek.com/GoldSeek/1401088942.php

Posted Monday, 26 May 2014

U.S. & UK markets are closed today for a national holiday.

Friday's AM fix was USD 1,292.00, EUR 948.61 and GBP 767.18 per ounce.

Gold fell$1.60 or 0.1% Friday to $1,291.70/oz. Silver slipped $0.18 or 0.5% to $19.388/oz. Gold was flat for the week while silver gained 0.5% for the week. Palladium gained 0.6% last week and platinum climbed nearly 2%.

Gold remains in lock down in the unusually tight range seen in recent days between $1,284/oz and $1,306/oz. Overnight, gold in Singapore traded in a very narrow $3 range between $1,291/oz and $1,294/oz and gold remained around the $1,292/oz level in morning trading in London.

The gold market continues to digest the news Friday, that the U.K.'s Financial Conduct Authority fined Barclays £26 million ($43.9 million) after one of its traders manipulated the London gold fix global price benchmark.

The fact that this was done over a long period of time and even on the day after Barclays was fined £290 million for manipulating Libor suggests that there may be more to this manipulation and may be other skeletons in the gold rigging closet.

"The Barclays incident is likely just the tip of the iceberg in respect of today's gold market," said Brien Lundin, editor of Gold Newsletter told Dow Jones Marketwatch.

The London Bullion Market Association (LBMA) has extended by one week the deadline for a consultation on the future of the daily silver fixing mechanism to give the industry more time to respond.

IMF data on Friday confirmed that Russia increased its gold holdings by a hefty 27.7 tonnes in April taking its total to 1,068 tonnes, while Turkey raised its bullion reserve by 13 tonnes to 497 tonnes. Kazakhstan raised its holdings by 2.7 tonnes to 151 tonnes.

Eurosceptic nationalists saw stunning victories in European Parliament elections in France and Britain on Sunday as critics of the European Union more than doubled their seats in a continent-wide protest vote against austerity, unemployment and the centralisation of power in the EU. Some political analysts have called the elections a political "earthquake".

Marc Faber told Bloomberg in an interview that he will "never sell his gold" and that "I buy more every month."

Faber, managing director and founder of Marc Faber Ltd., discussed the state of the Chinese economy, the outlook for the U.S. stock market, gold and bitcoin with Trish Regan on Bloomberg Television's "Street Smart."

"The momentum sell-off has caused internal market damage" and "every asset in the world is over-inflated right now…" Faber warns.

China worries him the most and he warns that Chinese growth figures are a fallacy.

"If one analyzes the data carefully" it is clear that "China is growing at most 4%." Given the"gigantic credit bubble" the outlook is not hopeful as the sharp deceleration in growth is likely to continue. Faber also has strong words for Western nations treatment of the rest of the world and "the US will have to back off.. because China is so important."

"I like the concept of Bitcoin"... "Bitcoin has its merits since you may not be able to carry gold across borders," Faber said.

"People think they know what the future holds… and what Central banks are up to.. they don't… I will never sell my gold and I buy more every month… I would not be short gold," Faber said.

Faber adopts the prudent strategy of dollar cost averaging or gradually accumulating a position over time rather than investing a large lump sum at once.

Our recent extensive interview with Faber on gold, silver and investment risks and opportunities today can be watched here.

Source:http://news.goldseek.com/GoldSeek/1401088942.php

28 May 2014 - California gold fortune found by couple goes for sale

28 May 2014 - California gold fortune found by couple goes for sale

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