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July 25, 2008 12:56:05 PM CDT

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Stories related to: gold

Stories

18 Stories

  • July 2008

    • Amid Selloff, Gold King Won't Flush His Throne

      newser  |  Wall Street Journal  |  Jul 7, 08 2:53 PM CDT

      Amid Selloff, Gold King Won't Flush His Throne

      With gold prices hovering around $1,000 an ounce, one Hong Kong jeweler is melting down the shining palace he spent a decade building, unloading chandeliers and armored knights—everything but his 24-karat toilet, the Wall Street Journal reports. "I don't care if gold hits $10,000 an ounce," Lam Sai-wing says of the Lenin-inspired commode. "I'm not melting it down." More »

      Tags

      Hong Kong  • commodities  • gold  • jewelry  • toilet  • bathroom

  • June 2008

    • Gold Stash May Solve $51M British Heist

      newser  |  Guardian (UK)  |  Jun 8, 08 8:12 PM CDT

      Gold Stash May Solve $51M British Heist

      After a long, bloody trail, British investigators may be close to cracking the case of six robbers who lifted $51 million in gold from a London warehouse 25 years ago. Last week, while tracking proceeds from organized crime, Scotland Yard detectives uncovered six suitcases packed with $15 million worth of gold inside a deposit box, the Guardian reports. More »

      Tags

      London  • robbery  • organized crime  • Heathrow Airport  • gold

  • May 2008

    • Serial Thieves Swipe $2.5M in JCPenney Gold

      newser  |  Los Angeles Times  |  May 14, 08 11:17 AM CDT

      Serial Thieves Swipe $2.5M in JCPenney Gold

      California police are hunting a gang of gold thieves raiding JCPenney stores across the state, the Los Angeles Times reports. The gang has struck 11 times in 18 months to grab $2.5 million in jewelry, and they've been getting busier as the price of gold continues to climb. Cops aren't sure why the brazen thieves keep hitting JCPenney stores but suspect one of the culprits is an insider. More »

      Tags

      California  • theft  • gold  • jewelry  • JCPenney  • gold prices  • thief

  • April 2008

    • Broken Tech Becomes Gold Mine, Literally

      newser  |  Reuters  |  Apr 28, 08 2:03 PM CDT

      Broken Tech Becomes Gold Mine, Literally

      No matter how broken it is, your old cell phone is still valuable to some people. That’s because it, like most electronics, is loaded with copper, iridium, gold, and other commodities that are becoming more expensive by the day. “To some it's just a mountain of garbage, but for others it's a gold mine," one recycling-plant manager tells Reuters. More »

      Tags

      consumer electronics  • commodities  • recycling  • gold  • copper

    • IMF OKs $11B Gold Sale

      newser  |  Financial Times (UK)  |  Apr 8, 08 2:40 AM CDT

      IMF OKs $11B Gold Sale

      The International Monetary Fund has approved the sale of 400 tons of gold from its massive reserves for an expected $11 billion, the Financial Times reports. The global lender also plans to slash up to 15% of its workforce to improve its finances, which have been hit by falling demand for emergency loans. The IMF is aiming to move away from lending to take on a more advisory role. More »

      Tags

      banking  • gold  • global economy  • IMF  • gold prices

    • Eureka! New Gold Rush Is On

      newser  |  New York Times  |  Apr 5, 08 11:39 AM CDT

      Eureka! New Gold Rush Is On

      A new generation of prospectors is partying like it’s 1849: Record prices and a simple desire for outdoor fun are drawing thousands westward in a new gold rush, the New York Times reports. “Anywhere gold has been found in the past, that’s where they’re going again,” says a gold guru whose organization’s membership has ballooned 40% in the past few years. More »

      Tags

      gold  • gold prices

  • March 2008

    • Peru Dig Yields 4000-Year Old Gold Necklace

      newser  |  LiveScience  |  Mar 31, 08 8:06 PM CDT

      Peru Dig Yields 4000-Year Old Gold Necklace

      Researchers have dug up the oldest piece of crafted gold in the Americas, a 4,000-year old gold necklace, LiveScience reports. Found at a pre-Inca burial site in Peru, the bling proves that primitive societies sought displays of wealth. It signals "the social process towards some kind of inequality," said Mark Aldenderfer, a University of Arizona anthropologist. More »

      Tags

      archaeology  • Peru  • discovery  • gold  • jewelry  • anthropology

    • Dow Slides 293 Points

      newser  |  Wall Street Journal  |  Mar 19, 08 3:44 PM CDT

      Dow Slides 293 Points

      Stocks slid fast today as commodity prices plunged. Investors rebalanced their portfolios after pumping cash into commodities such as gold and oil for insurance against seesawing stocks, the Wall Street Journal reports. The Dow ended down 293 points to 12,099.66, the Nasdaq 58.3 to 2,209.96, and the S&P 32.2 to 1,298.54. More »

      Tags

      stock market  • crude oil  • gold

    • Gold Hits Record $1K per Ounce

      newser  |  BBC  |  Mar 13, 08 1:03 PM CDT

      Gold Hits Record $1K per Ounce

      Gold hit $1,000 per ounce for the first time today, the BBC reports, as investors flock to commodities. The precious metal is already up 20% on the year. “Every bit of bad US economic data boosts gold in two ways,” said Fortis Bank, both because gold is a “safe haven” asset and because the dollar drops on expectations of US interest-rate cuts. More »

      Tags

      Federal Reserve  • inflation  • US dollar  • interest rate  • interest rate cut  • commodities  • gold

  • February 2008

    • Tanking Dow Drops 315 Points

      newser  |  MarketWatch  |  Feb 29, 08 3:15 PM CST

      Tanking Dow Drops 315 Points

      The Dow lost an incredible 315.79 points today to close at 12,266.39 as AIG reported the biggest losses in its history and bellwether Dell reported a year-over-year fourth-quarter profit decline of 6%. The Nasdaq slipped 60.09 to 2,271.48, and the S&P 500 lost 37.04 to close at 1,330.64. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones  • consumer spending  • commodities  • Dell  • gold  • AIG  • Ambac  • The Gap

    • Oscar Gold Glitters, Costs a Mint

      newser  |  Bloomberg  |  Feb 22, 08 11:23 AM CST

      Oscar Gold Glitters, Costs a Mint

      They’re worth their weight in gold to actors. And this year’s Oscars—carrying a gilding of pure gold—will cost the Academy of Motion Picture Arts and Sciences about $500 each, up $100 from last year's 13 1/2-inch tall, 8 1/2-pound statuettes. The price of gold has soared to record levels, reports Bloomberg, as investors looking for safe haven make the metal ever more precious. More »

    • Germans Find Hidden Nazi Gold

      newser  |  Der Spiegel  |  Feb 20, 08 7:44 AM CST

      Germans Find Hidden Nazi Gold

      Treasure hunters in Germany have announced they've found a secret stash of Nazi gold in an underground cavern and they believe it could be from the looted Amber Room of the Russian czars, Der Speigel reports. Instruments have detected what could be 2 tons of gold in the cavern near a town on the Czech border. The site was pinpointed using coordinates found among the belongings of a former Luftwaffe staffer who died recently. More »

      Tags

      Russia  • Germany  • Nazi  • World War II  • history  • discovery  • gold  • treasure  • Amber Room  • Luftwaffe  • czar

  • January 2008

    • Unrest in Financial World Gives Gold a New Luster

      newser  |  Wall Street Journal  |  Jan 31, 08 1:27 PM CST

      Unrest in Financial World Gives Gold a New Luster

      Mainstream investors looking for a hedge against inflation and a volatile stock market have taken a shine to gold, driving prices for the precious metal to historic highs, the Wall Street Journal reports. Gold futures have risen more than 42% since mid-August. The latest Fed interest-rate cut bumped prices in electronic trading above Monday’s $927.10 record close. More »

      Tags

      inflation  • investing  • gold

    • IBM Leads Stock Surge

      newser  |  Wall Street Journal  |  Jan 14, 08 3:45 PM CST

      IBM Leads Stock Surge

      Stocks surged today, propelled by hopes for an interest rate cut and expectation-busting fourth-quarter results from IBM. "The Fed has a very hard job right now, but I think the market is saying it thinks they are up to the task," a trading exec told the Wall Street Journal. The Dow jumped 171.85 to 12,778.15, the Nasdaq 38.36 to 2,478.30, and the S&P 500 15.23 to 1,416.25. More »

      Tags

      stock market  • interest rate cut  • IBM  • gold

  • November 2007

    • At $832 an Ounce, All That Glitters Is Gold

      newser  |  Los Angeles Times  |  Nov 12, 07 3:05 PM CST

      At $832 an Ounce, All That Glitters Is Gold

      Gold’s lure as a safe haven from economic upheaval has Wall Street worried that investors are turning their backs on the markets, reports the LA Times . Gold prices have pushed steadily toward $850 an ounce, a level it hasn’t seen since 1980. "The markets' statement is that the US has lost its way," said one economist. More »

      Tags

      commodities  • investment  • gold  • global economy  • gold prices

    • Oil, Gold Lift Markets

      newser  |  Bloomberg  |  Nov 6, 07 3:37 PM CST

      Oil, Gold Lift Markets

      Stocks closed up today, buoyed by surging oil and gold prices. Oil hit $97 a barrel, and gold is at a 27-year high, Bloomberg reports. Energy and metals producers, including Exxon Mobil and Newmont Mining—the world's second-largest gold-mining company—led the rally. The Dow was up 117.54 to 13,660.94, the Nasdaq 30.00 to 2,825.18, and the S&P 500 18.10 to 1,520.27. More »

      Tags

      stock market  • oil price  • Goldman Sachs  • ExxonMobil  • gold

  • October 2007

    • Oil Rises to Record High, Again

      newser  |  Associated Press  |  Oct 29, 07 6:28 AM CDT

      Oil Rises to Record High, Again

      Oil prices topped $93 today, breaking another record on news that Mexican production would drop by 20% due to a storm. "This is on top of what has already been simmering,” said an analyst in Singapore. Prices have been breaking records for a week due to US-Iran tensions and Turkish-Kurdish border skirmishes. Experts also cite the weak American dollar. More »

      Tags

      Iran  • oil price  • oil  • Mexico  • Turkey  • OPEC  • gold

    • 2,000 Miners Rescued in South Africa

      newser  |  BBC  |  Oct 4, 07 6:34 AM CDT

      2,000 Miners Rescued in South Africa

      About two-thirds of the 3,200 miners trapped yesterday when a lift shaft collapsed in a South African gold mine had been rescued by midmorning today, the BBC reports. They're being brought to the surface 75 at a time in a small shaft normally used for equipment; the remainder are expected to be out by late afternoon. Miners who emerged hungry and relieved said the mood underground was calm, despite punishing heat.  More »

      Tags

      South Africa  • gold  • mining

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