Gold Heads For 3rd Annual Loss

Gold Silver Reports – Gold was steady on Thursday but poised to mark its third straight annual loss, ahead of what is likely to be another tough year with the prospect of higher U.S. interest rates and dollar strength.

Largely influenced by U.S. monetary policy and dollar flows, the price of gold has fallen about 10 percent in 2015 as some investors sold the precious metal to buy assets that pay a yield, such as equities.

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Gold Heads For 3rd Annual Loss via @goldsilverrepor

ETFs in Gold Monetisation Scheme

gsr-gold-5248-neal-bhaiGold Silver Reports – The gold exchange traded funds can now invest in India’s Gold Monetisation Scheme(GMS). The Securities and Exchange Board of India (SEBI) has issued a circular giving approval for this.

As per the latest SEBI circular, the cumulative investment by Gold ETF in GDS and GMS will not exceed 20% of total AUM of such schemes.

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ETFs in Gold Monetisation Scheme via @goldsilverrepor

2015 Ends With An Ugly Close

Gold Silver Reports – U.S. stocks closed out the final trading day of 2015 with both the Dow and S&P 500 suffering their first year of negative returns since 2008 when the financial crisis was in full swing. Both benchmarks were on the verge of a positive year at the start of today’s trading session, …

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2015 Ends With An Ugly Close via @goldsilverrepor

Fire Breaks Out in Luxury Dubai Hotel

Fire Breaks Out in Luxury Dubai Hotel
Fire Breaks Out in Luxury Dubai Hotel

Gold Silver Reports – A fire engulfed a luxury hotel in downtown Dubai close to the Burj Khalifa tower where thousands of people gathered for a New Year’s Eve fireworks display.

Authorities evacuated all guests out of the Address Downtown Dubai hotel, Civil Defense official Rashid al-Matroushi told al-Arabiya television late on Thursday. Fifteen people sustained light to moderate injuries, while one person suffered a heart attack, according to the Dubai media office. A fireworks show continued as scheduled at about midnight, meters away from where the hotel fire was still going but appeared to be losing intensity.

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Fire Breaks Out in Luxury Dubai Hotel via @goldsilverrepor
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