http://www.ibtimes.com Latest News en http://www.ibtimes.com/indonesia-limit-freeport-mcmoran-unit-sale-local-investors-2159373?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Indonesia plans to restrict the sale of a 10.6 percent stake in the local unit of Freeport-McMoRan, the world's biggest publicly traded copper producer, to local investors, the Jakarta Globe reported. The Elizabeth, New Jersey, company is selling the stake in Freeport Indonesia as part of a deal with the government to extend its contract to operate a copper and gold mine in Papua province. http://www.ibtimes.com/indonesia-limit-freeport-mcmoran-unit-sale-local-investors-2159373 Tue, 27 Oct 2015 20:45:25 -0400 http://www.ibtimes.com/gold-industry-analysts-expect-price-rise-over-fear-currency-war-2064415?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution PANAJI, India -- Gold prices could rise above $1,200 an ounce in the next few months as fears of a currency war after the devaluation of the yuan make equity markets choppy, boosting the buying of physical gold and related exchange-traded funds, leading industry analysts said at a conference. The metal has already rebounded about 8 percent from July's 5 1/2-year low, fueled by minutes of the American Federal Reserve’s last policy meeting, which dented expectations for an imminent rise in U.S. interest rates. Spot prices hit a peak of $1,168.40 Friday. http://www.ibtimes.com/gold-industry-analysts-expect-price-rise-over-fear-currency-war-2064415 Sat, 22 Aug 2015 13:33:57 -0400 http://www.ibtimes.com/us-sending-eight-f-16-fighter-jets-egyptian-military-2032562?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution The United States will deliver eight F-16 fighter jets to Egypt in an effort to help the country fight extremism and to bolster security in the region, according to a statement on Thursday from the U.S. Embassy in Cairo. The aircraft are part of a $1.3 billion plan to upgrade Egypt's military amid increased extremist threats. http://www.ibtimes.com/us-sending-eight-f-16-fighter-jets-egyptian-military-2032562 Thu, 30 Jul 2015 17:20:45 -0400 http://www.ibtimes.com/gold-plunges-five-year-lows-after-early-asia-rout-2017075?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Gold prices plunged more than 4 percent to five-year lows on Monday as a sudden bout of selling across Shanghai and New York markets during the illiquid early Asian trading hours triggered a mini flash crash, deepening bullion's biggest rout in years. A wave of sell orders in a one-minute period shortly after the Shanghai Gold Exchange opened on Monday sent the most-active U.S. gold futures contract GCv1 down $48 to as low as $1,080 per ounce, its weakest since February 2010. http://www.ibtimes.com/gold-plunges-five-year-lows-after-early-asia-rout-2017075 Mon, 20 Jul 2015 21:02:07 -0400 http://www.ibtimes.com/texas-gold-returning-within-states-borders-officials-unsure-when-how-repository-will-1995922?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution A Texas bill is bringing the Lone Star State's gold back inside its borders, but the decision presents many logistical problems, the Associated Press reported Saturday. Signed into law earlier in June, the new law requires Texas' stockpile of gold bars, valued at an estimated $650 million, be transported back to Texas from the New York bank where it is being held.  http://www.ibtimes.com/texas-gold-returning-within-states-borders-officials-unsure-when-how-repository-will-1995922 Sat, 04 Jul 2015 17:42:12 -0400 http://www.ibtimes.com/child-laborers-work-ghanas-illegal-gold-mines-human-rights-watch-report-1960584?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution International corporations are sourcing gold from child laborers working in unlicensed mines in Ghana, finds a new report from Human Rights Watch. Most are between the ages of 15 and 17, but researchers interviewed one boy as young as 9. http://www.ibtimes.com/child-laborers-work-ghanas-illegal-gold-mines-human-rights-watch-report-1960584 Wed, 10 Jun 2015 11:36:11 -0400 http://www.ibtimes.com/passengers-los-angeles-international-airport-storm-tarmac-after-false-report-gunman-1818362?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution About 20 travelers at Los Angeles International Airport fled through the emergency doors of Terminal 2 and out onto the tarmac Monday after someone in the gate area falsely spread news about an armed man on the loose, authorities said. According to LAX Police Sgt. Belinda Joseph, the “misinformed announcement” was the result of a police pursuit of an unarmed driver that ended outside Terminal 2. Police were responding to a 911 call around 9 a.m. Monday that reported a man attempting suicide on airport property. http://www.ibtimes.com/passengers-los-angeles-international-airport-storm-tarmac-after-false-report-gunman-1818362 Mon, 16 Feb 2015 21:40:24 -0500 http://www.ibtimes.com/swiss-voters-reject-gold-immigration-proposals-salvaging-eu-ties-1730975?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution ZURICH (Reuters) - Swiss voters overwhelmingly rejected proposals on Sunday to boost gold reserves and impose strict new curbs on immigration, averting a potential nightmare for policymakers struggling with a popular backlash against the country's open borders. The referendums are part of a recent flurry of initiatives under Switzerland's model of direct democracy that have threatened to undermine the non-EU member's reputation for stability. http://www.ibtimes.com/swiss-voters-reject-gold-immigration-proposals-salvaging-eu-ties-1730975 Sun, 30 Nov 2014 16:55:23 -0500 http://www.ibtimes.com/india-take-imminent-steps-curb-gold-imports-source-1725261?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution (Reuters) - India is likely to announce measures to curb gold imports as early as Tuesday, a senior finance ministry source said, as a surge in inbound shipments threatens to worsen the country's trade deficit. "We are working on it. The measures to slow gold imports are almost ready and may be announced today or tomorrow," said the source, who declined to be named because of the sensitivity of the matter. http://www.ibtimes.com/india-take-imminent-steps-curb-gold-imports-source-1725261 Tue, 18 Nov 2014 01:57:28 -0500 http://www.ibtimes.com/russian-central-bank-buys-domestic-gold-output-sanctions-bite-1721690?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution (Reuters) - Russia's central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said. Most Russian gold mine production is sold to domestic commercial banks, such as Sberbank or VTB, which can then sell the metal on to either the central bank or to foreign banks. http://www.ibtimes.com/russian-central-bank-buys-domestic-gold-output-sanctions-bite-1721690 Tue, 11 Nov 2014 02:04:28 -0500 http://www.ibtimes.com/gold-price-will-pass-1400-year-us-inflation-rises-usagold-analyst-says-1649076?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Gold prices will reach $1,400 an ounce, the highest price since last September, by the end of the year, according to USAGOLD Centennial Precious Metals Inc. http://www.ibtimes.com/gold-price-will-pass-1400-year-us-inflation-rises-usagold-analyst-says-1649076 Tue, 05 Aug 2014 09:09:09 -0400 http://www.ibtimes.com/cat-mouse-game-india-uncovers-new-gold-smuggling-route-1645672?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution (Reuters) - India is scrambling to crack down on a new gold smuggling tactic that it fears could accelerate a flood of illegal imports of the precious metal into the world's second-biggest buyer. India -- whose appetite for gold is only rivaled by China -- last year imposed a record 10 percent import duty and made it mandatory to export a fifth of all bullion imports, seeking to curb bullion demand that has blown out the trade deficit. http://www.ibtimes.com/cat-mouse-game-india-uncovers-new-gold-smuggling-route-1645672 Fri, 01 Aug 2014 00:56:08 -0400 http://www.ibtimes.com/gold-prices-headed-down-despite-ukraine-middle-east-conflicts-1644768?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Gold is always an appealing investment in times of trouble. And as the Middle East conflict intensifies and Russian-backed rebels continue their activities in Ukraine, the metal has had a great run in the past few months. But analysts say the popularity won’t last. On Thursday gold was trading at $1,287 per ounce, down from a high of $1,350 earlier in July.  http://www.ibtimes.com/gold-prices-headed-down-despite-ukraine-middle-east-conflicts-1644768 Thu, 31 Jul 2014 10:22:43 -0400 http://www.ibtimes.com/mh17-ukraine-crash-malaysian-air-shares-tumble-after-attack-asian-shares-gold-also-1632236?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Shares of Malaysian Airline System Berhad (KLSE:MAS) dropped to their lowest level in nine weeks after Flight MH17 was shot down in eastern Ukraine Thursday, killing all 298 people on board. http://www.ibtimes.com/mh17-ukraine-crash-malaysian-air-shares-tumble-after-attack-asian-shares-gold-also-1632236 Fri, 18 Jul 2014 02:18:27 -0400 http://www.ibtimes.com/barclays-fined-44m-gold-fixing-failures-trader-daniel-james-plunkett-banned-1589182?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution UK's financial regulator, the Financial Conduct Authority, fined Barclays 26 million pounds ($43.8 million) for failings related to fixing London gold prices, and also banned and fined trader Daniel James Plunkett for inappropriate conduct. http://www.ibtimes.com/barclays-fined-44m-gold-fixing-failures-trader-daniel-james-plunkett-banned-1589182 Fri, 23 May 2014 07:19:18 -0400 http://www.ibtimes.com/indias-gold-imports-expected-rise-rbi-relaxes-importing-norms-1589083?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution India’s gold imports are most likely to increase after the Reserve Bank of India, or RBI, on Wednesday relaxed norms for importing gold for select trading companies. http://www.ibtimes.com/indias-gold-imports-expected-rise-rbi-relaxes-importing-norms-1589083 Fri, 23 May 2014 03:51:56 -0400 http://www.ibtimes.com/death-toll-climbs-12-colombia-gold-mine-collapse-1579925?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution More bodies have been pulled from a collapsed illegal gold mine in southwestern Colombia, bringing the number of confirmed deaths to 12, the Associated Press reported. Four miners are still missing but presumed dead. Rescue workers on Sunday dug through about 65 feet (about 20 meters) of heavy debris to reach victims of the rock fall that occurred Wednesday night in Santander de Quilichao, a rural town in southwestern Cauca province, according to reports. http://www.ibtimes.com/death-toll-climbs-12-colombia-gold-mine-collapse-1579925 Sun, 04 May 2014 20:44:40 -0400 http://www.ibtimes.com/fair-trade-gold-qa-south-america-toronto-infographic-1575323?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Canada’s Fair Trade Jewellery Company produced the above internal infographic in late 2013. It illustrates gold’s route from informal artisanal miners in South America to the company’s small North American clientele. http://www.ibtimes.com/fair-trade-gold-qa-south-america-toronto-infographic-1575323 Wed, 23 Apr 2014 13:58:27 -0400 http://www.ibtimes.com/chinas-gold-demand-stagnates-2014-year-after-gold-rush-fueled-grannies-1572034?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution China’s gold-loving grannies bought enough gold last year to see them through this year, and perhaps longer. Despite prices lower than this time a year ago, when the gold rush in the world’s second-largest economy began, demand is likely to remain level this year, the first time it has not increased since 2002. “We expect 2014 to be a year of consolidation,” a report from the World Gold Council, the trade group, said Tuesday. “The sudden price drop in 2013 meant some Chinese consumers brought forward jewelry and bar purchases, which may limit growth in demand in 2014.” http://www.ibtimes.com/chinas-gold-demand-stagnates-2014-year-after-gold-rush-fueled-grannies-1572034 Wed, 16 Apr 2014 05:42:24 -0400 http://www.ibtimes.com/japan-sales-tax-hike-boosts-popularity-gold-investors-rush-beat-implementation-tax-1565183?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Japanese shoppers have snapped up gold bars ahead of a controversial hike in the country’s sales tax, which takes effect Tuesday, a key part of Prime Minister Shinzo Abe’s economic “Abenomics” reforms. http://www.ibtimes.com/japan-sales-tax-hike-boosts-popularity-gold-investors-rush-beat-implementation-tax-1565183 Mon, 31 Mar 2014 12:16:32 -0400 http://www.ibtimes.com/chinese-gold-demand-could-rise-2014-surprise-call-though-indias-demand-may-have-1564447?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Demand for gold in China, which broke consumer records in 2013, could reach new heights in 2014, according to some analysts. http://www.ibtimes.com/chinese-gold-demand-could-rise-2014-surprise-call-though-indias-demand-may-have-1564447 Fri, 28 Mar 2014 11:38:50 -0400 http://www.ibtimes.com/why-did-gold-crash-april-2013-computerized-trading-one-explanation-1564394?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Gold’s 13 percent crash in April 2013, representing a sudden and steep decline of $200 per ounce over two momentous days, set the floor for gold’s poor performance in 2013, which saw its worst showing since 1981. http://www.ibtimes.com/why-did-gold-crash-april-2013-computerized-trading-one-explanation-1564394 Fri, 28 Mar 2014 11:02:30 -0400 http://www.ibtimes.com/gold-regains-allure-safe-haven-emerging-markets-1563868?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution This story has been corrected. Chantelle Schieven is an economist with Dundee Capital Markets, not Dundee Precious Metals as originally stated. Gold has profited from its reputation as a safe haven from turmoil in emerging markets and elsewhere early this year, particularly as tension over Ukraine and the Crimea region continues. http://www.ibtimes.com/gold-regains-allure-safe-haven-emerging-markets-1563868 Thu, 27 Mar 2014 13:12:05 -0400 http://www.ibtimes.com/german-gold-makes-it-way-back-home-fed-slowly-1563651?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution German gold held by the U.S. Federal Reserve in New York and in Paris is slowly but surely returning home, said a German central bank official in a Tuesday update in New York. Germany’s gold repatriation program, whereby the nation’s central bank is recalling 674 metric tons from vaults in New York and Paris, is progressing slowly. About 69 tons have returned to Frankfurt so far. http://www.ibtimes.com/german-gold-makes-it-way-back-home-fed-slowly-1563651 Wed, 26 Mar 2014 10:29:26 -0400 http://www.ibtimes.com/if-russia-central-bank-sold-gold-gold-market-could-shiver-1561333?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution If Russia’s central bank sold gold to raise cash ahead of Western sanctions, that could send shivers throughout the gold market. Societe Generale SA (EPA:GLE) analyst Michael Haigh flagged the potential risk in a research note earlier this week, but told IBTimes it was unlikely that Russia’s central bank would sell gold to recover from sanctions, to make up for lost oil revenue. http://www.ibtimes.com/if-russia-central-bank-sold-gold-gold-market-could-shiver-1561333 Thu, 13 Mar 2014 18:14:34 -0400 http://www.ibtimes.com/indian-gold-industry-plans-strike-1559543?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution India’s $41 billion gold industry plans a 24-hour strike next Monday, as government raids and import restrictions frustrate retailers in what used to be the world’s largest gold-consuming country. http://www.ibtimes.com/indian-gold-industry-plans-strike-1559543 Wed, 05 Mar 2014 13:19:30 -0500 http://www.ibtimes.com/facebook-vs-gold-mining-industry-one-could-buy-other-chart-1559506?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution This chart throws investor sentiment behind tech and gold mining industries into sharp relief. http://www.ibtimes.com/facebook-vs-gold-mining-industry-one-could-buy-other-chart-1559506 Wed, 05 Mar 2014 10:19:30 -0500 http://www.ibtimes.com/gold-sees-boost-ukraine-safe-haven-buying-ubs-1558925?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Fears over Ukraine’s political turmoil could help gold prices break free from a recent trading range capped at $1,360 per ounce, said UBS AG (VTX:UBSN) precious metals analysts in a note on Monday. Rising tensions in the Ukraine have “spurred safe-haven buying in a market which had been looking stale in recent days,” wrote analysts Joni Teves and Edel Tully in a note to clients. “Gold’s current safe-haven bid should help to overcome technical resistance, especially if the Ukrainian crisis escalates.” http://www.ibtimes.com/gold-sees-boost-ukraine-safe-haven-buying-ubs-1558925 Mon, 03 Mar 2014 08:21:15 -0500 http://www.ibtimes.com/turkish-consumers-take-gold-profits-after-strong-year-demand-2013-1558024?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Turkish consumers are taking advantage of gold’s recent rally to sell off the precious metal, even as trade statistics show a remarkable year for Turkish gold demand in 2013. “A lot of people are selling back the gold they purchased last year, having made quite a reasonable return on it,” Andrew Leyland, manager of precious metals demand at the Thomson Reuters GFMS metals consultancy, told International Business Times. http://www.ibtimes.com/turkish-consumers-take-gold-profits-after-strong-year-demand-2013-1558024 Wed, 26 Feb 2014 10:50:19 -0500 http://www.ibtimes.com/mining-gold-arctic-brave-new-world-1557487?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Canada’s Agnico-Eagle Mines Ltd. has struggled to mine gold in the world’s Arctic region, in the north of Canada, Alaska, Russia and Scandinavia, the Wall Street Journal reports. http://www.ibtimes.com/mining-gold-arctic-brave-new-world-1557487 Mon, 24 Feb 2014 11:27:31 -0500