As gold turns lower on reports of a “turning point” for the entire global economy, let’s take a look at some thought provoking gold, silver, and precious metals related stories from other news sites and blogs. This round up includes stories on the Gold ETF and Silver ETF, a call for a return to the gold standard, Fort Knox, and prospecting for gold.
Where does the Gold ETF get its gold?
As the SPDR Gold Shares ETF marked a series of succesive all time highs for tonnes in the trust, many people started asking questions about where the gold was coming from. Here’s the answer.
SLV exceeds its silver storage capacity
Discussed in the Got Gold Report, the holdings for the iShares Silver Trust SLV have exceed the storage space allowed under its custodian agreement as the holdings reached another new high.
Russia backs return to Gold Standard to solve financial crisis
Following China’s call for a new world currency, Russia suggests that gold should be included in the basket-weighting.
Is there any gold inside Fort Knox?
It’s been decades since an independent audit of the reported $137 billion in gold stockpiled in Fort Knox has been independently audited. Ron Paul is pursuing a Bill to conduct an independent audit of the entire Federal Reserve System. Separately, GATA plans to file Freedom of Information requests for full disclosure of US gold ownership and trading activities.
Trace Mayer, J.D. announces the availability of The Great Credit Contraction, which is a foundational document for much of the writing on his site Run to Gold.
Believe it or not, people are making money prospecting for gold in California. One prospector claims to have made $10,000 during one good day.
Thanks for the link round up. Some good stuff.