Gold and What Moves it.
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Peru 2012 mineral exports shrink 1.7% on Gold

From www.bullionstreet.com - February 12, 2:50 PM
Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

 

LIMA(BullionStreet): Decrease in gold exports trim overall mineral exports of Peru by 1.7 percent last year.

 

Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

 

In December last year, country's gold exports took a 35.2% dive in December from $191mn in 2011 to $124mn last year.

 

The lower gold exports contributed to the 18.7% drop in overall mineral exports in the last month of 2012.

Hal's insight:

Hmm... This is interesting. I wonder what this will hold for gold demand?

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A China Gold bar that rusts

From www.bullionstreet.com - January 16, 1:30 PM
A gold bar sold by China's state-controlled China National Gold Group showed signs of rust.

 

BEIJING(BullionStreet): A gold bar sold by China's state-controlled China National Gold Group showed signs of rusting, reports Beijing Times.

 

According to the tabloid, In October 2010, a man identified only by his surname, Shen, purchased what he believed to be pure gold product manufactured by China National Gold from a Beijing department store for 14,900 yuan ($2,400).

 

The bar was stored in a bank safe until Dec. 18, when Shen noticed that it had developed red spots and what appeared to be rust corrosion on the base. As the most non-reactive of all metals, gold should never rust unless it has been mixed with other metals or has been contaminated with additives.

 

On Dec. 24, Shen took the gold back to the store and was offered a refund once staff verified that it was the same item he originally purchased.

 

Shen refused, saying that all he wanted was an explanation. ...

Hal's insight:

LOL China not minting pure gold? LOL go figure.

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