May 29th, 2015
China gold imports fall from Hong Kong
China’s net gold imports from Hong Kong fell in April 2015 to an eight-month low, according to new figures.
Imports fell to 52.204 tonnes from 66.363 tonnes in March 2015, the Hong Kong Census and Statistics Department told Reuters.
Investment in bars and coins have come under pressure this year in the face of buoyant stock markets, according to the World Gold Council.
China and India alone account for 54 per cent of total global consumer demand, with consumer demand in India rising 15 per…
May 21st, 2015
Ruby fetches record price at auction
A Burmese ruby broke records this month at auction. The coloured gem, which weighs 25.59 carats, sold for the world record sum of 28.25 million Swiss francs at auction on Tuesday 12th May. The Magnificent Jewels & Noble Jewels auction, held by Sotheby’s, took place in Geneva, fetching a total of 149.9 million Swiss francs, the highest ever total for a various owner jewellery auction.
The Burmese stone was the biggest record breaker, more than doubling its pre-sale estimate to sell for both the high…
May 15th, 2015
Picasso’s painting on display at the SFMOMA Photo: Wallyg
Picasso’s Women of Algiers breaks auction record
Picasso’s Women of Algiers became the most expensive painting in the world this week, as the 1955 oil painting went under the hammer to fetch a record-breaking $179.3 million.
The Picasso auction is part of a string taking place this week, with the sum total of sales expected to near $2.3 billion, according to Deloitte’s Evan Beard.
“This is about to become the biggest week in the auction world to date,” he told Yahoo.
May 8th, 2015
IPOs blow positive wind towards green investment
Companies behind wind and solar farms are increasingly creating new companies spinning off from some of their projects, reports the WSJ, a trend that could spark a new wind for green energy investment.
Previously consumers looking for renewable energy stocks had options to buy in manufacturers, such as SunPower Corp., but the Journal notes that “most are relatively small and don’t pay dividends”.
The new public offerings from developers such as NextEra Energy Inc, though, will sell o…
May 1st, 2015
Gold struggles despite US slowdown
Figures this week showed that American GDP grew just 0.2 per cent in the first quarter of 2015, far below its forecast growth. While precious metals tend to prosper during times of wider financial uncertainty, though, gold has struggled.
The GDP data hit the dollar hard this week, causing it to fall against the euro to a two-month low. However, the Federal Reserve’s insistence that any slowdown was temporary and the economy would rebound was backed up by data from the Labor Department, which showed that…