Binge-drinking broker pushes oil prices to 8-month high during black out
The actions of an inebriated broker during a booze-induced black-out pushed global oil prices to an 8 month high.
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Xstrata board endorses Glencore merger deal just shy of deadline
Xstrata's board will recommend the merger of the company with fellow Swiss commodities giant Glencore.
IMF earmarks $2.7 bn in gold sales windfall for concessional lending to needy economies
The International Monetary Fund has given the go ahead to the use of USD$2.7 billion in profits from gold sales to ramp up financial assistance to developing economies.
Gold set to rise on inclusion as Tier 1 banking asset
Gold prices are set to a receive a major boost from their adoption by banks are a core asset if the world's leading banking regulatory authority opts to raise their asset status.
Laboratory-made diamonds a rising ‘conflict-free’ alternative
Laboratory grown diamonds have the potential to become the best “conflict-free” alternative to original precious gems, as these man-made rocks are gathering momentum in the high-end jewellery world, says Clive Hill, founder and president of Washington Diamonds.
Barclays opened precious metals vault in London
British bank Barclays opened its first precious metals vault on the outskirts of London that caters to institutional investors, sovereign-wealth funds, central banks and commercial banks.
Ancient Buddhist statue found in Tibet carved from meteorite
A Buddha statue looted by Nazis in Tibet in the 1930s was carved from the Chinga meteorite, which crashed to the Earth 15,000 years ago, revealed Elmar Buchner of the Planetology Institute at Stuttgart University.
Rio Tinto unveils $5.5 million necklace made with its Argyle diamonds
Rio Tinto’s Argyle pink diamonds have been combined for the first time with imperial jade in a piece of jewellery. The necklace, known as The Argyle Empress, was designed by luxury jeweller Chow Tai Fook and is valued at $5.5 million.
Over $2 million in gold and gems stolen from US museum
About $2 million worth of gold nuggets and precious gems were stolen Friday afternoon from the Californian Mariposa Mining and Mineral Museum.