Wednesday, October 15, 2014

100-YEAR CHART: Gold price vs Dow Jones shows metal still cheap

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Gold News Digest
Thursday 16 October 2014
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Gold price hits 5-week high Wednesday as stocks drop but gold's gains could've been greater if not for strong dollar.

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Fans of gold have been following Federal Reserve Board announcements for any sign of relief, but H.C. Wainwright & Co. Analyst Jeff Wright says change may be a long time coming.

The future of the proposed $5 billion Conga copper and gold project in Peru remains in limbo as its main opponent was recently re-elected governor of the region where the project is situated.

Australian winner of Booker Prize said the $80,000 award means he doesn't have to become a mine worker anymore.

The initiative seeks to force the SNB to keep at least 20% of its assets in the metal and repatriate gold reserves held abroad.

The former Xstrata boss' new venture, X2 Resources, is "currently reviewing a number of opportunities in the metals and mining sector."

October has provided the usual bouts of anxiety that have characterized the month in past years. I warned that we could see volatility and so far, this has been the case.

Nobody likes taxes. However, when the super rich are stuck in forfeiting millions of dollars to taxes each year, they probably despise them even more than the average person.

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