http://www.research.gold.org/news/ Gold market research, reserve asset and investment statistics, prices and global performance en info@gold.org Copyright 2008 http://www.research.gold.org/news/2008/10/07/story/10382/gold_stands_alone_amid_the_rubble_of_financial_crisis http://www.research.gold.org/news/2008/10/07/story/10382/gold_stands_alone_amid_the_rubble_of_financial_crisis
The precious metal's stability in the midst of the global economic downturn has been highlighted by the Hindu newspaper.

Gold has "stood alone amid the rubble" of the US crisis, the paper argued.

Madhusudan Daga, a consultant from CPM Group, told the news provider that other common investment choices such as equities or property have "taken a hit" but gold will continue to be buoyed by the upcoming marriage season in India.

He added that he believes the prospects for gold are good despite rising prices.

Meanwhile, the US mint has been forced to cease production of the half-ounce and quarter-ounce American Eagle gold coins for the remainder of 2008 and will be offering other bullion coins as an alternative, reported Reuters.

It comes after unprecedented demand for the items and volatile market conditions, the agency added.
]]> Tue, 07 Oct 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/10/06/story/10372/jeans_decorated_with_18_c_gold_designed http://www.research.gold.org/news/2008/10/06/story/10372/jeans_decorated_with_18_c_gold_designed
Dussault Apparel and Bloodline Design joined forces to create the denim fashion items, which are each worth $250,000 (£144,000).

One pair features a Marquis rose gold wallet chain made with 1,080g of gold and adorned with precious stones.

The second design has a white gold chain attached, made up of 1,120g of the precious metal.

Prototypes will be displayed at the upcoming Phoenix Fashion Week and will go on to be shown at the Kustom store in New York and the Dussault flagship outlet in Los Angeles.

Founder Jason Dussault often creates stage outfits for rock stars and other performers and his latest designs were featured on Nickelback's European tour.

Meanwhile, several companies are selliing Apple iPhones encased in 24-c gold as fashion accessories.

Having an iPhone adorned with gold adds "a little extra exclusivity" to the product, according to the GizMag website.
]]> Mon, 06 Oct 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/10/03/story/10361/ancient_georgian_gold_on_display_in_museum http://www.research.gold.org/news/2008/10/03/story/10361/ancient_georgian_gold_on_display_in_museum
A variety of gold jewellery, sculptures and funerary items dating back to as far as the first century are on display at the Fitzwilliam Museum as part of the From the Land of the Golden Fleece event.

They have been excavated from tombs in Vani, once in the ancient kingdom of Colchis but now part of modern-day Georgia.

It is the first time that the 140 items have been unveiled in the UK and they will go on to be transported around Europe and the US in a major tour.

The museum stated that the pieces represent the "lavish burial practices and exquisite craftsmanship of one of the least-known civilizations on the borders of the classical world".

Recently, gold has been featured several times in the UK art scene, with an 18-c gold statue of Kate Moss being on display in the British Museum and Damien Hirst selling his Golden Bull piece for over £10 million.
]]> Fri, 03 Oct 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/10/02/story/10350/gold_kate_moss_statue_exhibition_opens_doors http://www.research.gold.org/news/2008/10/02/story/10350/gold_kate_moss_statue_exhibition_opens_doors
The golden effigy, said to be worth £1.5 million, will be on show as part of the Statuephilia: Contemporary Sculptors event that will run until January 25th 2009.

It was created by artist Marc Quinn, who said he chose Moss as his muse as she is an "Aphrodite of our times".

Modern collections coordinator Philip Attwood commented that because of the British Museum's reputation as a specialist in antiquities, "it is not always realised that its collections also include a broad range of contemporary works from around the world."

Recently, Damien Hirst sold his Golden Bull piece for a record-breaking £10.3 million at an auction at Sotheby's.

The work featured a bull with 18-c gold hooves and horns suspended in formaldehyde.
]]> Thu, 02 Oct 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/30/story/10330/gold_coins_valuable_in_troubling_economic_times http://www.research.gold.org/news/2008/09/30/story/10330/gold_coins_valuable_in_troubling_economic_times
Commenting on recent increased demand for the items, Harry Miller from Coins Magazine said that the appeal of the gold pieces is that they are a "store of value in an increasingly troubled modern world", reports NumisMaster.com.

He added that they are educational and enthusiasts can gain pleasure from collecting them.

Their popularity is interesting in times of weak economy, particularly as people cannot "eat them or put them into a gas tank", Mr Miller asserted.

He added that the current activity in the coin market has "never been more constant in the 41 years I have spent as a professional numismatist".

Earlier this week the US Mint announced that it was temporarily halting sales of its one-ounce American Buffalo 24-c gold coins as it could not keep up with demand.
]]> Tue, 30 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/29/story/10316/china_to_release_gold_coin_to_commemorate_maiden_spacewalk http://www.research.gold.org/news/2008/09/29/story/10316/china_to_release_gold_coin_to_commemorate_maiden_spacewalk
Due to be released on October 10th, the 30,000 gold coins will feature an image of the solar system on the head side and a portrait of an astronaut on the reverse, according to the Xinhua news agency.

It comes after Zhai Zhigang became the first Chinese person to walk in outer space, along with two colleagues who returned safely to Earth this weekend.

The mission was launched on Thursday September 25th and astronauts flew for 68 hours in space.

Meanwhile, a company based in the Jewellery Quarter district of Birmingham in the UK has begun making limited-edition Barack Obama gold coins.

Winston Elizabeth & Windsor hopes to make millions from the venture if Mr Obama is named as US president in the upcoming elections, reports the Birmingham Post.
]]> Mon, 29 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/26/story/10307/people_expected_to_flock_to_free_gold_valuation_event http://www.research.gold.org/news/2008/09/26/story/10307/people_expected_to_flock_to_free_gold_valuation_event
Interest in the value of gold is rising in the country due to the economic downturn, according to the Express & Star.

Graham Manning from Astral Antiques will be carrying out the service for free at the local centre over the weekend.

He told the newspaper: "It’s a sign of the times I suppose. I have been booked in by a bowling club to do a valuation session for them in Solihull before Christmas too."

Meanwhile, Rex Johnson & Sons in nearby Dudley are launching a new website where people can sell their gold. Owner David Johnson stated that gold is a better possession than property at the moment.

Antique dealer and television personality David Dickinson will star in an advert for the site.
]]> Fri, 26 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/22/story/10258/sea_exploration_firm_discovers_gold_coins http://www.research.gold.org/news/2008/09/22/story/10258/sea_exploration_firm_discovers_gold_coins
Sovereign Exploration Associates found the items while conducting a recovery operation off the coast of Nova Scotia.

The coins, along with a large ingot and various other artefacts, have been uncovered during three weeks of diving expeditions.

Chairman Peter Knollenberg commented: "With an expanded dive crew and new methods of detection … we believe this project will be significant, both in financial reward and historical contribution."

Several additional areas that are believed to contain more valuable items have been identified by the search team.

Officials granted the firm a recovery permit that allowed them to commence exploration earlier this year.

Meanwhile, it has been revealed that a gold-bearing shipwreck discovered off the coast of Namibia in April was a Portuguese vessel bound for Asia in the 16th century, according to the African country's information ministry.]]> Mon, 22 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/19/story/10248/gold_mobile_phones_launched http://www.research.gold.org/news/2008/09/19/story/10248/gold_mobile_phones_launched
The collection, which includes the pink-gold Dangerous model, could cost up to $310,000 (£139,334) according to Australian digital products website CNET.

They are being released to celebrate the company's 150th anniversary and will contain detachable charms that can be worn as pendants.

A British subsidiary of Nokia has also unveiled a bejewelled mobile phone, according to the Sybarites blog, CNET reported.

Entitled Signature, it is a 3G product that will be available in yellow gold and white gold.

Recently, it was revealed that a firm called Computer Choppers are planning to sell Apple iPhone 3Gs that have been dipped in 24-c gold.

The company also offers a 24-c gold iMac computer and a polished gold iMacbook Pro, according to iPhoneBuzz.com.]]> Fri, 19 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/18/story/10241/ancient_gold_coin_found_in_kent http://www.research.gold.org/news/2008/09/18/story/10241/ancient_gold_coin_found_in_kent
It was found by a person with a metal detector, according to Chris Rudd from Celtic Coins, Numismaster.com reports.

No other coins of this type are known to have been discovered so it is thought to be very rare.

The item features the letters COM.F - which stands for Commii filius - meaning that it was commissioned by Eppillus, the son of Commius, who established a kingdom in the south of Britain and was allied with Julius Caesar.

It is expected to be sold for more than £3,000 at an auction held in November.

Meanwhile, a gold ring found in Moray in Scotland has been declared as treasure and will be assessed by experts before going on display at a museum, according to the Northern Scot.]]> Thu, 18 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/17/story/10228/gold_wedding_bouquet_unveiled_by_hong_kong_company http://www.research.gold.org/news/2008/09/17/story/10228/gold_wedding_bouquet_unveiled_by_hong_kong_company
3D-GOLD - the retail division of Hang Fung Gold Technology - has unveiled the piece, claiming that it symbolises "eternal love in Chinese culture", according to the Standard.

Entitled Amore, it is adorned with 99 flowers characterising several different varieties, including the calla lily, gypsophila elegans, Chinese herbaceous peony, rose, caryophyllales daisy and the large and small hydrangea.

The firm said that 30 specialists took over a year to produce the piece in a "labour of love".

Hang Fung Gold Technology Group was established in 1979. Originally a manufacturer, it expanded to become a researcher, designer, retailer and exporter of jewellery.

It was listed on the Hong Kong stock exchange in 1999 and runs an exhibition hall for tourists, where the world's most expensive gold environmentally-friendly washroom can be visited.]]> Wed, 17 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/17/story/10230/gold_watch_up_for_grabs_if_golfers_get_hole_in_one http://www.research.gold.org/news/2008/09/17/story/10230/gold_watch_up_for_grabs_if_golfers_get_hole_in_one
Halls Jewellers are donating the timepiece as an incentive for players to putt a ball in one shot, according to the Parkes Champion Post.

From Friday Septmber 19th contests are taking place over two days at the Parkes Golf Club in New South Wales.

The main event is the Linxford Parkes open tournament but anyone participating in the smaller competitions is eligible to win the gold watch.

Meanwhile, Newmont Mining recently announced that work on the Boddington gold project, which could potentially become Australia's largest gold producer, was 83 per cent complete at the end of August.

"This mine will produce somewhere between 900,000 and 1 million ounces of gold next year," commented president and chief executive Richard O'Brien.]]> Wed, 17 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/16/story/10225/tourists_encouraged_to_pay_a_visit_to_birminghams_city_of_gold http://www.research.gold.org/news/2008/09/16/story/10225/tourists_encouraged_to_pay_a_visit_to_birminghams_city_of_gold
The area is known as the 'city of gold' because it is the location of many local jewellers and merchants.

Championship boxing belts, the Wimbledon ladies singles trophy and the original FA cup were all made in the area.

Visitors could make a trip to the area to get "that Dubai effect", campaigners claimed.

Birmingham's many tourist attractions such as its museum and art gallery were also named as worthwhile places to see.

Britain's second-biggest city is also host to cultural events such as the Symphony Orchestra's collaboration with a Turner Prize winning artist, held on September 23rd.

Skilled goldsmiths have been operating in the Jewellery Quarter for over 200 years and it is also the location of a UK assay office that hallmarks gold products to guarantee quality.]]> Tue, 16 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/16/story/10227/damien_hirsts_golden_calf_sold_for_over_10m http://www.research.gold.org/news/2008/09/16/story/10227/damien_hirsts_golden_calf_sold_for_over_10m
He sold 223 works at auctioneers Sotheby's at an event entitled 'Beautiful Inside My Head Forever' - thought to be the first of its kind within the art world.

The highest-priced piece, called the Golden Calf, featured a bull suspended in formaldehyde with a gold disc crowning its head.

Its horns and hooves were also cast in 18-c gold.

Another item, named the Kingdom, consisted of a shark also suspended in formaldehyde - a trademark of the artist. This work fetched £9.56 million.

Chief executive officer of Sotheby's Bill Ruprecht told the Evening Standard: "We've had 22,000 visitors in the last week, many of them families with children. The simple truth is that people around the world find his art compelling."

The £65 million target for the entire sale was surpassed after just 51 lots out of 223 had been sold, the paper added.
]]> Tue, 16 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/12/story/10197/ancient_warriors_found_buried_with_gold http://www.research.gold.org/news/2008/09/12/story/10197/ancient_warriors_found_buried_with_gold
The findings are thought to be from the time of Alexander the Great, who was born in the region.

Helmets and masks adorned with gold were unearthed at the location, a burial ground for 20 warriors of ancient Macedonia. Academics hope the relics will provide more insight into the era.

"The discovery is rich in historical importance, shedding light on Macedonian culture during the Archaic period," commented Pavlos Chrysostomou, who led the project.

Decorative gold jewellery was also found in a female's grave in the burial site, which could date as far back as 279 BC.

It comes after another treasure find - this time an ancient gold wreath - was uncovered in the ruins of Aigai by the University of Thessaloniki, also in northern Greece.]]> Fri, 12 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/12/story/10199/gold_coin_will_commemorate_war_heroes http://www.research.gold.org/news/2008/09/12/story/10199/gold_coin_will_commemorate_war_heroes
Under the new Army Command and General Staff College (ACGS) Commemorative Coin Act, 100,000 gold coins with a denomination of five dollars will be produced by the US Mint.

Pat Roberts, the representative for Kansas, proposed the plans in order to commemorate graduates of the ACGS - a military school in Fort Leavenworth - who led US forces in World War II.

Several generals who fought the Nazis studied and served in the area, including Douglas MacArthur, George Marshall, Dwight Eisenhower, Omar Bradley and Henry 'Hap' Arnold.

Mr Roberts praised the soldiers who had shown "uncommon valor, fidelity and love of country" in the defence of liberty.

A five-dollar Bald Eagle gold coin is also offered by the US Mint to highlight the symbolic value of the bird, which survived near-extinction and is the image of the country's Great Seal.]]> Fri, 12 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/12/story/10205/gold_leafed_bibles_on_show http://www.research.gold.org/news/2008/09/12/story/10205/gold_leafed_bibles_on_show
Although the public cannot physically handle the priceless tomes, a computerised system using a touchscreen enables them to turn the pages, according to religious newspaper the Pilot.

Several thousands of these books, written in over 150 languages, are kept in the Great Hall of the Library of Congress in Washington DC.

Some are even guarded by a golden gate in the Lessing & J Rosenwald room.

The more modern electronic method was installed earlier this year in a bid to display the centuries-old pieces without risk of damage.

Mark Dimunation, the chief of the library's rare book division, told the paper: "They are all accessible to the public … as long as you are over the age of 18 and registered."

Meanwhile, jewellery thought to date back to biblical times is currently being shown at an exhibition in Israel.]]> Fri, 12 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/10/story/10180/125kg_gold_bar_displayed_by_bank http://www.research.gold.org/news/2008/09/10/story/10180/125kg_gold_bar_displayed_by_bank
It was on show in the lobby of the Bangko Sentral ng Pilipinas' (BSP) minting facility in Quezon City, according to the Philippine Daily Inquirer.

The 12.5kg polished bar was placed on a pedestal in a glass box and viewers were invited to touch it.

Several people tried to lift the bar with one hand after it was jokingly suggested that if they were successful they could take it home, the news provider said.

A few succeeded in picking it up - including BSP governer Amando Tetangco Jr and monetary board member Alfredo Antonio - but many failed.

BSP hosted the promotion has part of its 30th anniversary celebrations.

Meanwhile, in Dubai, two people were recently arrested for trying to exchange counterfeit gold bars for 24-c gold jewellery, as reported by the Khaleej Times.]]> Wed, 10 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/10/story/10183/gold_coin_giveaway_by_qatar_bank http://www.research.gold.org/news/2008/09/10/story/10183/gold_coin_giveaway_by_qatar_bank
A draw was held by HSBC in Qatar and winners received a 22-c coin, according to the Gulf Times.

People who collected their new cards from the company's collection centre on Grand Hamand street were eligible to win.

The recipients of the gold coins were Andrew Jan, Bhavani Sankar, Awatef al-Dafa, Ahmed Mubasher M Shah, Omar Mouselli, Adil, Shahrunizal Bin Abdul Rahman, Prem Kumar and Babar Rehman.

A Cadillac Escalade is also being given away as part of a grand prize draw.

Recently, a vintage gold coin with a denomination of one rupee fetched 220,000 rupees (£2,764) at an auction in Bangalore.

A ten-rupee gold coin from the times of Queen Victoria's British empire also went for 160,000 rupees at the same event.]]> Wed, 10 Sep 2008 00:00:00 +0100 http://www.research.gold.org/news/2008/09/09/story/10172/gold_director_buys_a_million_shares http://www.research.gold.org/news/2008/09/09/story/10172/gold_director_buys_a_million_shares
James Sikora said the decision was an expression of his confidence in the organisation.

"I am extremely excited about the significant progress we have made and are currently making, toward the start-up of mining operations," he commented.

He added that the business had "excellent prospects" and praised the quality of its landholdings.

Mr Sikora's original share ownership has been boosted by the new acquisitions, and he may purchase additional shares in the future.

Tao owns two gold projects in Colombia - the El Colmillo gold mine and the Golondrina property, where exploration is needed to confirm estimated high grade gold deposits.

El Colmillo is located in the river basin of La Blanquita, a tributary of the Nechi River in eastern Antioquia. It covers an area of 296 hectares, according to the company website.]]> Tue, 09 Sep 2008 00:00:00 +0100