India's central bank likely sold $12 billion gold reserve in just two weeks to support the rupee – BE report
The Reserve Bank of India likely sold $12 billion of its gold reserves and bought $7.5 billion in foreign currency assets during the two weeks ending May 22, according to a new report from Abhishek Gupta, senior India economist at Bloomberg Economics (BE).The BE analysis, published Tuesday, drew on publicly available data to infer that India's central bank appears to have offloaded a substantial portion of its gold holdings to shield its foreign currency assets from the cascading fallout of the war in the Middle East.
‘I wonder if they left the gold in Fort Knox, because they steal a lot' – Trump speculates on U.S. gold reserve
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Bidder for Citgo parent Gold Reserve says happy with refiner's management
Executives of Toronto-listed Gold Reserve said on Thursday the mining company is pleased with the performance of Venezuela-owned Citgo Petroleum's management, a sign that top company executives might remain if a bid by a Gold Reserve subsidiary for the refiner's parent is approved by a U.S. federal judge.
Bondholders, bidders ready objections to Gold Reserve group's Citgo bid
Lawyers representing holders of a defaulted Venezuelan bond and some bidders that participated in a U.S. auction of shares in the Venezuelan parent of U.S. refiner Citgo Petroleum are getting ready to object to the auction's recommended outcome, three sources close to the preparations said.
Gold Reserve: Speculative Arbitrage 'Buy' On Citgo Auction And Lisbon Proceedings
GDRZF's main value driver today is its ICSID award and enforcement claims. The most realistic way to enforce this award is through the upcoming Citgo share auction. Unfortunately, Citgo's starting bid is now set at $3.7 billion, so for GDRZF to make a partial recovery, the sale price must exceed senior claims. Estimates vary, but senior claims could be around $6.8 billion today. This makes a full recovery very unlikely with Citgo's sale.
Germany grows anxious about their 1,200-tonne U.S. gold reserve as transatlantic trade tensions mount
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Trump will tag along as Musk visits Fort Knox gold reserve: “We want to see if the gold is still there”
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Trump Plans to Visit Fort Knox's Gold Reserve. Selling It Won't Fix the U.S. Budget.
The U.S. holds a lot of gold. But revaluing it at current prices wouldn't do much to improve the fiscal challenges in Washington.
GDRZF Stock Earnings: Gold Reserve Reported Results for Q2 2024
Gold Reserve (OTCMKTS: GDRZF ) just reported results for the second quarter of 2024. Gold Reserve reported earnings per share of -4 cents.
