http://www.invest.gold.org/news/ Investment value as a global currency and commodity. Global market knowledge. How and where to invest, analysis, supply and demand. en info@gold.org Copyright 2008 http://www.invest.gold.org/news/2008/07/24/story/9821/gold_incentive_from_indian_financial_supermarket http://www.invest.gold.org/news/2008/07/24/story/9821/gold_incentive_from_indian_financial_supermarket
Six centres will be built by ArthaMoney in Chennai city, followed by five more each in Delhi, Mumbai, Andhra Pradesh and Karnataka.

In order to promote the new stores, company managing director and chief executive officer Suresh Rangarajan said: "One customer will win a one sovereign gold coin every day in a lucky draw for 30 days from tomorrow."

Mr Rangarajan said ArthaMoney will provide services for real estate, loads, insurance, equity and mutual funds.

He added the company will try to attract 10,000 customers by the end of August 2008.

India Interacts said ArthaMoney is the country's first financial supermarket.

It has partnerships with Reliance General Insurance, New India Assurance, Shriram life insurance and Barclays Bank.

According to the Financial Express, the company is targeting itself at middle network people as opposed to high net-worth individuals.

]]> Thu, 24 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/21/story/9785/reach_compliance_guides_published_by_icmm_and_eurometaux http://www.invest.gold.org/news/2008/07/21/story/9785/reach_compliance_guides_published_by_icmm_and_eurometaux
The new chemical legislation, Reach, requires companies to pre-register substances and phase-in substances.

For this, businesses need to information authorities about their desire to either import substances to the European Economic Area (EAA) or manufacture substances within the area.

In addition, the leaflets will detail other key areas companies that produce alloys, metal compounds and metals need to cover for the process.

ICMM chief operating officer John Groom said: "There are advantages for industry in acting now to ensure that Reach obligations are met in a timely and efficient manner.

He added that companies who do not fall in line with Reach regulations risk interrupting trade within the EAA market.

December 1st 2008 is the deadline for organisations to complete the pre-registration.

Members of the ICMM include Rio Tinto and Mitsubish Materials.

For more information]]> Mon, 21 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/18/story/9781/shipwreck_coins_go_on_auction http://www.invest.gold.org/news/2008/07/18/story/9781/shipwreck_coins_go_on_auction
Stack's in Baltimore is to host the pre-American Numismatic Association convention auction.

At the auction will be treasure coins rescued from the SS New York shipwreck off the coast of Mexico.

A $5 gold coin piece which was produced by Christopher Bechtler and has been graded AU-58 by the Numismatic Guaranty corporation will go under the hammer.

The wreck will also provide international gold pieces from New Orleans, Britain and gold eight escudos from Latin America.

Of the pieces salvaged, they have each been graded A to C dependent on their condition after being submerged in salt water.

The Shipwrecks website said the vessel was salvaged after 161 in the Gulf of Mexico and carried onboard some of the earliest gold coins minted in the Southern Mints.

Among the treasures rescued were coins minted during America's first gold rush in 1803.
]]> Fri, 18 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/10/story/9710/worlds_largest_coin_to_go_on_show http://www.invest.gold.org/news/2008/07/10/story/9710/worlds_largest_coin_to_go_on_show
According to NumisMaster, visitors will be able to see the Canadian million-dollar coin and talk to mint engravers about the star piece in the collection and their work.

The display will also feature more than 30 gold coins from Britain, France and Portugal. There will be 789 silver coins, minor artefacts and a range of silver pillar dollars.

Visitors wanting to learn more about valuable coins will also be allowed to attend one of five Initiation to Coin Collecting seminars at the event and three auctions including the Treasure of the L' Auguste de Bordeaux.

The display has been arranged by the Canadian Numismatic Association which was set up in 1950 as an educational and informative body for coin collectors.

It has since become one of the world's largest numismatic associations with members around the world.
]]> Thu, 10 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/09/story/9702/from_russia_with_a_gold_porsche http://www.invest.gold.org/news/2008/07/09/story/9702/from_russia_with_a_gold_porsche
According to Elite Choice, the Porsche 911 is from Russia and layered with approximately 40 pounds of pure gold.

Various designs festoon the car's body and the spoiler is also gold, the website said.

Although the design may seem extravagant, it is not the first car modification that has incorporated gold.

Elite Choice previously reported a set of 19-inch wheels plated with 24K gold which would set the driver back £11,980.

Meanwhile, the gold Porsche was one of the manufacturer's older models, but the latest version of the car might be quite enough for anyone – gold or not.

The Porsche Carrera can reach 289 miles per hour and has a 3.6-litre engine. However, it will set the buyer back £63,070, according to Porsche.

]]> Wed, 09 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/08/story/9692/gold_stolen_from_house_in_india http://www.invest.gold.org/news/2008/07/08/story/9692/gold_stolen_from_house_in_india
The residents were celebrating their son's engagement when the thieves struck at the house in Alwar Thiru Nagar.

According to the report, police are also investigating a theft in Koyambedu, Sriram. A passenger said he had been carrying a bag with 35 sovereigns of gold jewellery on a bus but it was missing when he disembarked at the station.

Meanwhile, gold worth $20,000 was stolen from a Northern Goldfields mine according to the West Australian.

The newspaper reports Australia's Gold Stealing Detection Unit says a 33-year-old man from Port Kennedy has been charged with two counts of theft from the site.

He will appear in Perth magistrates court next month.
]]> Tue, 08 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/08/story/9698/man_sells_everything_but_the_golden_toilet http://www.invest.gold.org/news/2008/07/08/story/9698/man_sells_everything_but_the_golden_toilet
Among the gold for sale from Lam Sai-wing's palace in Hong Kong are melted-down golden chandeliers, chairs, armoured knights, a bathroom sink and a golden horse-drawn chariot.

But he told the newspaper he would not sell the 24-carat, fully flushable toilet he had built in 2001, saying it was the cornerstone of the company and was an icon he would never take apart.

Mr Sai-wing's palace was a hit with tour groups with 100 visiting the attraction daily during its busiest period, the WSJ added.

He set up his company, Hang Fung, in 1979 and started out as a manufacturer moving into jewellery design, research, production, exporting and retail units in China.

As well as the toilet Mr Sai-wing is keeping a Chinese statue of the Guan Yin - the goddess of compassion.
]]> Tue, 08 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/07/07/story/9674/police_investigate_pot_of_gold http://www.invest.gold.org/news/2008/07/07/story/9674/police_investigate_pot_of_gold
The workers were building the metro in the city of Nizhny Novgorod apparently came across a pot of gold which dates back to the reign of the last Russian Tsar, Nicholas the Second.

A local newspaper at the time said the gold was estimated to weigh 8.5 kilos and the pot contained one thousand coins.

The police have now found out about the gold through local media, Russia Today reports.

Under Russian law people who make such a discovery can only claim 25 per cent of the total value, while the state receives half and the owner of the land where the treasure was found is entitled to the remaining quarter.

Russia Today said local historians believe the claim as the area where the metro is being built is near where a lot of merchant shops is used to be situated.

Tsar Nicholas the Second ruled from 1894 until his forced abdication in 1917 following the first Russian Revolution.
]]> Mon, 07 Jul 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/26/story/9613/florida_show_to_include_rare_gold_coins http://www.invest.gold.org/news/2008/06/26/story/9613/florida_show_to_include_rare_gold_coins
Among the treasures on display will be those retrieved from buried shipwrecks and high-value gold pieces, reports TC Palm.

Coin enthusiast Bob Hurst, president of Florida United Numismatists group responsible for organising the event, said that despite the global economy entering slowdown, the collecting market appeared to have strengthened.

"When the economy is upside down, (people) want stuff that they can touch and feel," he added.

Around 800 vendors are expected to attend the free-admission event at the Palm Beach County Convention Centre, with collectors bringing coins of all shapes, sizes and ages along.

The largest regular issue coins made in the United States were $20 Gold Pieces, also known as Double Eagles.

Liberty coins, made from 1849 to 1907, feature a bust of Lady Liberty facing to the left on the dated side, with an eagle with sun-rays and stars on the reverse.

The Saint Gaudens version, made between 1907 and 1933, features a standing figure of Liberty on the dated side and a flying eagle on the other.
]]> Thu, 26 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/20/story/9563/gold_mining_companies_to_combine http://www.invest.gold.org/news/2008/06/20/story/9563/gold_mining_companies_to_combine
The companies anticipate the deal to be finalised around June 30th 2008 following the attainment of court approval.

BIV explained that the new combined business is predicted "to produce approximately 297,000 ounces of gold in 2008 and 335,000 ounces in 2009 with estimated cash costs of about $240 (£121) per ounce".

Shareholders from Metallica Resources will own 45.7 per cent of the new company and Peak Gold's shareholders will have 37.8 per cent, according to the

It reported that the chief executive of Peak Gold, Robert Gallagher, will take the same position in the new gold mining company.

Metallica Resources is a Canadian company with projects in Mexico, Chile and America.

Peak Gold has gold properties in Australia and Brazil and New Gold's main project is in British Columbia.
]]> Fri, 20 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/11/story/9494/riga_sees_worlds_largest_coin_exhibited http://www.invest.gold.org/news/2008/06/11/story/9494/riga_sees_worlds_largest_coin_exhibited
The coin, which was made at the Royal Canadian Mint in Winnipeg last year, is one of only five of its kind in the world. Two are now in Europe.

It weighs 100 kilograms, is 50 centimetres in diameter and three centimetres thick.

Reported to be worth one million Canadian dollars, the market price is believed to be up to two million euros as it is 99.999 per cent pure gold, according to rawgreed.com.

The coin was displayed for just two hours at Latvijas monetu nams, a new store in Riga which will sell commemorative coins, Novo News reported.

It featured as the star piece among other national and international coin collections in the exhibition.

Latvijas monetu nams is owned Finnish company Nordic Moneta, and has also been on display in Helsinki.

The coin is owned by Jewelers Trade Services Partners/CoinInvestDirect.com.
]]> Wed, 11 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/10/story/9488/police_may_have_solved_gold_mystery http://www.invest.gold.org/news/2008/06/10/story/9488/police_may_have_solved_gold_mystery
Scotland Yard detectives found the gold in a deposit box as part of a two-year investigation into the proceeds of organised crime.

They are now checking whether their discovery is from the 1983 armed robbery at a warehouse near Heathrow Airport.

The haul is believed to be worth about £8 million and thought to be the single largest discovery of unexplained gold found in Britain.

Commander Allan Gibson, of Scotland Yard's specialist crime directorate, said his officers had never seen anything like it, the Guardian said.

Along with the gold, police also found £30 million in cash, stuffed into plastic supermarket bags.

The gold was found in storage vaults at Safe Deposit Centres. Two directors of the firm have been arrested on suspicion of money-laundering offences and bailed until September.

Police have said the focus of their inquiries is on the people who rented the boxes.
]]> Tue, 10 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/10/story/9491/gold_stash_to_be_turned_into_coins http://www.invest.gold.org/news/2008/06/10/story/9491/gold_stash_to_be_turned_into_coins
The haul, worth a A$1.1 million (£484,254), was discovered in secret compartments in Wayne Patterson's house and buried in the garden, in Auckland, after his arrest for benefit fraud in October 2006.

They found gold bars under the shower and cash in his car, and over a three-year period he had been claiming benefits under 123 different names, it was reported.

The government has kept the gold in a vault and saw its value increase by $300,000, One News reports.

It is now selling the stash to New Zealand Mint which will melt it into coins, it was said in the report.

"He was laundering it through buying and selling gold bullion and then repatriating that money to overseas companies," forensic investigator Barry Jordan.

Patterson was sentenced to eight years in jail last month.
]]> Tue, 10 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/09/story/9477/gold_cup_fetches_50000_at_auction http://www.invest.gold.org/news/2008/06/09/story/9477/gold_cup_fetches_50000_at_auction
The piece, which is made from Persian gold and is decorated with two opposite-facing heads and knotted snakes, went under the hammer last week in Dorchester.

Its owner John Webber was left the item by his grandfather and only chose to get it valued when he moved house last year as he thought it was made from brass.

Guy Schwinge, of Duke's Auctioneers which orchestrated the sale, told the Dorchester Echo: "The cup could well be a one-off and it has captured the imagination of so many people because of the rag and bone element of the find."

He added that it is a very "special" item.

An expert has deemed the 5.5-inch cup to be an example of Achaemenid gold and gold-smithing, which dates back to the third or fourth century BC, reports AFP.

Mr Webber also sold a gold spoon worth £5,000 at the same auction.

In related news, four Hellenistic gold wreaths have been unearthed during construction work in the Greek town of Sintrivani.

]]> Mon, 09 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/09/story/9481/gold_beauty_therapies_growing_in_popularity http://www.invest.gold.org/news/2008/06/09/story/9481/gold_beauty_therapies_growing_in_popularity
According to the Daily Mail, gold is being utilised in a number of beauty treatments as it is thought to contribute to younger-looking skin.

"Gold appears to slow down collagen depletion and the breakdown of elastin to prevent sagging skin," Kathryn Danzey, who supplies salons with the Umo 24 Karat Gold Facial Treatment, told the publication.

Ms Danzey adds that the metal stimulates cellular growth in the deep layers of the skin-regenerating skin cells and having a tightening effect.

The news provider adds that Dr Alexandra Chambers, a cosmetic doctor on Harley Street, is one of just as few surgeons who provides Gold Thread Lift skin rejuvenation treatment, which involves threading gold filaments into the skin to create a net-like structure under the surface layer.

For those looking for something less drastic, facialist Linda Carter told the news resource she uses gold needles for acupuncture as few people are allergic to them and clients find them "more comfortable".

The Times previously recommended that visitors to New York should indulge in a gold facial at the Ritz Carlton.
]]> Mon, 09 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/09/story/9483/edible_gold_tops_glitzy_new_york_dessert http://www.invest.gold.org/news/2008/06/09/story/9483/edible_gold_tops_glitzy_new_york_dessert
Those looking for a treat to finish off their meal can opt for the glossy chocolate leaf napoleon topped with edible gold paper Crain's New York Business reports, or they can also choose a pot de crème surrounded by crunchy chocolate croquante balls.

"Certain homegrown chefs merit keen attention wherever they wave their whisks," the site said.

"Kerry Heffernan is such a chef, and his career has brought him to the post of executive chef of South Gate, the polished new signature restaurant of the Essex House."

The site gave the restaurant a three out of four mark of "excellent" and recommends the oven-roasted sliced lamb loin served with a spring vegetable as a top main meal.

Last month, the Press Association revealed that Wall Street Burger Shoppe would be offering Manhattan diners another way to get their gold fix, with a Kobe beef hamburger with black truffles, foie gras and Gruuere cheese topped with gold flakes available for $175 (£89).
]]> Mon, 09 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/06/story/9468/couer_dalene_to_maintain_nevada_mine http://www.invest.gold.org/news/2008/06/06/story/9468/couer_dalene_to_maintain_nevada_mine
The company said that the mine is an important source of cash flow and has opted to keep the site.

Last year the firm completed a seven-hole core drilling programme that was designed to test the level of gold mineralisation in the mine.

Dennis E. Wheeler, chairman, president and chief executive officer of Couer d'Alene, said: "Rochester continues to provide Couer with an important source of cash flow and is continuing to exceed budgeted levels.

"We are evaluating opportunities that could extend the mine life beyond 2011."

He added that during the first quarter of this year, the mine generated more than $12.4 million (£6.3 million).

According to its website, Couer d'Alene Mines Corporation is one the world's leading gold producers.

It owns a major gold project in Alaska and conducts exploration projects in Argentina, Bolivia, Chile, Mexico and Tanzania.
]]> Fri, 06 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/06/story/9471/high_grade_gold_coins_in_11_million_sale http://www.invest.gold.org/news/2008/06/06/story/9471/high_grade_gold_coins_in_11_million_sale
According to Numismaster.com, the coins went under the hammer as part of Larry and Ira Goldberg's auction, which was held from May 25th to May 28th.

Included in the collection was a $20 1930 Saint-Gaudens Double Eagle gold coin, which fetched $130,000.

Meanwhile, a $10 Capped Bust coin dating from 1799 sold for $115,000, the site said. The Goldberg's sale catalogue described the item as being among the "top survivors" of this type of coin.

A Saint-Gaudens Double Eagle from 1932 also broke the $100,000 mark, bringing in $110,000, while an 1899 $20 coin went for $95,000.

A third Saint-Gaudens coin dating from 1907 - the year this type of Double Eagle was introduced - sold for $74,000, the site added.

Saint-Gaudens Double Eagles were designed at the request of President Theodore Roosevelt by the Irish-born sculptor Augustus Saint-Gaudens. The US Mint struck the coins until 1933.
]]> Fri, 06 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/06/story/9474/exhibition_displays_burgundian_gold http://www.invest.gold.org/news/2008/06/06/story/9474/exhibition_displays_burgundian_gold
Signandsight.com states that Berthold Seewald of German newspaper Die Welt visited the exhibition, which includes gold pieces and jewellery, as well as bibles, vestments and carpets, in Bern.

All of the treasures on show were the spoils of war for the 15th century armies of Charles the old, who ruled the Burgundian court until his death on the battlefield in 1477.

Included in the displays is a gold statute featuring Charles kneeling in front of St George, the patron saint of knights.

The History Museum in Bern, which is hosting the exhibition, said Charles the Bold spent much of his time at the helm of the House of Burgundy attempting to pair his daughter with the son of Emperor Maximilian.

However, it was only after his death that the two became married and the Burgundian court was absorbed in to the House of Hapsberg.
]]> Fri, 06 Jun 2008 00:00:00 +0100 http://www.invest.gold.org/news/2008/06/06/story/9475/worlds_largest_gold_coin_comes_to_riga http://www.invest.gold.org/news/2008/06/06/story/9475/worlds_largest_gold_coin_comes_to_riga
The Baltic Course citing LETA states that the coin - a 100-kilogram gold bullion Maple Leaf coin made by the Royal Canadian Mint - measures half a metre in diameter and is three centimetres thick.

It is one of only five coins of its type, two of which are currently housed in Europe, the site adds.

Maple Leaf coins are made from 99.999 per cent pure gold and are worth around £1 million, the Daily Mail newspaper states.

Another Maple Leaf coin is currently on display in the Austrian capital Vienna under a permanent loan with the city's Museum of Art History and Fine Arts.

The Royal Canadian Mint is based in Ottawa. It has been striking currency and commemorative coins for the domestic and international markets, as well as bullion and commemorative coins since 1908.
]]> Fri, 06 Jun 2008 00:00:00 +0100