Asia gold-transparency law and smuggling take shine off festival season

"Soros and Moore Capital Management LLC are among hedge funds that have reduced the amount of money they’re investing in stock, bond and currency markets as they look for clarity on global events ranging from the debt crisis in Europe to China’s efforts to control inflation to the debate over the U.S. debt ceiling," reports Bloomberg.

The board of Polyus Gold , Russia's biggest gold producer, approved on Tuesday its development strategy, which, once implemented, will see it become one of the world's top five gold miners in 2020.

Copper and gold miner OZ Minerals will return up to $200 million to shareholders through an on-market buyback, as booming prices for its products continue to generate cash. Photo of copper concentrates being loaded, by OZ Minerals.

Gold creates another history, breaks $1600 mark Read more : gold futures,comex,etf,spot gold,record price LONDON (Commodity Online) : Gold prices Monday created history by breaking the coveted $1600 an ounce barrier in early European trade as debt crisis

Carpathian Gold announced that it has concluded an agreement with Barrick Gold Corporation for a CDN$20 Million private placement to purchase 38,461,538 common shares (the "Private Placement" and the "Common Shares") of the Corporation at a price of $0.52 per share. The Common Shares will be subject to a four-month hold period. The proceeds from the Private Placement will be exclusively applied to the Corporation's ongoing exploration and development work on its wholly owned Rovina Valley Project ("RVP") situated in west-central Romania.

A FATHER-of-two has been jailed after trying to collect £730,000 of gold bullion for a criminal gang to clear his drug debts. James Rea, 45, walked into a precious metal merchants in London with a forged driving licence and utility bill in the name of

It’s not just on the financial markets where people are looking to protect their wealth. In Istanbul’s Grand Bazaar, traders have been buying and selling gold since 1461, the early days of the Ottoman Empire. Its shops attract between 250,000 and half a million visitors daily. One Moroccan tourist on a visit to the market told euronews (check video after the jump) the quality of gold varies from one store to another, but the prices are usually good. “Nevertheless, I always negotiate,” he said. An estimated 22 billion euros worth of gold is traded at the Grand Bazaar each year. (Image by Faraways / Shutterstock.com is of an unidentified salesman lining op bracelets at the Grand Bazaar on June 9, 2011 in Istanbul.)

BUCHAREST - Bucharest issued an archaeological discharge certificate for an area in northwestern Romania where a Canadian firm wants to establish a gold mine, the culture ministry said Friday. The decision was criticized by groups defending the patrimony

Gold futures pulled back early on Friday after adding over $50 an ounce since Monday and more than a $100 since the start of July, but in after hours trade in New York had reached $1,594.50, adding a solid $5 to Thursday's record high of $1,589.30 an ounce. Thursday's gains were sparked by rating agency Moody's saying US bonds were on review for possible downgrade which followed similar warnings by S&P. Although Fed chief Ben Bernanke has downplayed talk of fresh stimulus for the US economy ongoing political wrangling about the US's $14.3 trillion debt ceiling are sending investors into safe havens like gold.