Huge U.S. gold position liquidated by fund-WSJ

Jan 28 (Reuters) - Hedge fund SHK Asset Management liquidated a U.S. gold futures position this week valued at over $850 million, more than 10 percent of the main U.S. futures market, the Wall Street Journal reported on Friday. As a result of the move, which was made on Monday, the number of gold contracts on CME Group Inc.'s Comex division plunged by more than 81,000, to about 500,000, in their...

ECB Says Estonia’s Central Bank Joins Gold Agreement

Estonia signed an agreement that limits how much gold European central banks can sell until 2014, according to the European Central Bank. The five-year agreement announced August 2009 that was signed by the ECB and 18 other countries will remain unchanged over the period of the agreement, the ECB said in a statement on its website today. That agreement started Sept. 27, 2009 and limited gold sales...

Tunisian former president's wife 'fled country with £38 million in gold'

Tunisian protesters were goaded to new pinnacles of indignation on Monday as it emerged that the former president's wife, Leila Trabelsi, spirited 1.5 tonnes of the central bank's gold onto the aircraft that flew her and her family to Dubai. Intelligence officials in Paris told Le Monde, the French newspaper, that Mrs Trabelsi visited the bank last month, when protests were gathering...

You're insane if you don't own gold, investors told

 By Richard Evans 5:46PM GMT 11 Jan 2011Not owning gold during the current financial turmoil is "a form of insanity", according to an investment analyst at a leading City firm.  Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC: "I think not owning gold is a form of insanity. It may even show unhealthy...

India, Iran mull over gold-for-oil for now

NEW DELHI: India is determined to ensure steady crude oil supplies from Iran and is even considering settling payments with gold in the short term before the two countries agree on a mutually accepted currency and a bank to clear the transactions. "We have written a letter to NIOC ( National Iranian Oil Company )) asking it to suggest a...

India gold buying resurfaces as prices steady near 2-wk low

(Reuters) - India gold buying resurfaced on Wednesday afternoon as prices steadied near their lowest level in two weeks offsetting a weaker rupee even as the wedding season drew to a close in the world's largest consumer of the yellow metal, dealers said. "There is renewed enthusiasm in market after markets crashed by $40 yesterday,...

Gold hits another record high level of 45,800 per tola

KARACHI: Gold lovers have once again been burdened with a steep rise in the yellow metal rates as it hit another record-high level of Rs 45,800 per tola in the local bullion market following the trend in the international market in which it touched the highest-ever level of $1,420 an ounce, analysts said on Monday. The reasons for the increase in the gold rates in the international market are...

Buy some milk... and flog the family jewellery: Tesco enters gold exchange business by offering cash for gold

   3rd January 2011Buy some milk... and flog the  family jewellery: Tesco enters gold exchange business by offering cash for gold It is seen as the preserve of backstreet pawn shops and daytime TV adverts, but now selling your gold could become as commonplace as your weekly grocery shop. Tesco has added to its ever-increasing...