Global coal demand to remain largely stable through 2025 — IEA
In its last publication, the Agency previously predicted a decrease in demand in 2024, with a moderate decline thereafter.
Al-Qaeda Chief Osama bin Laden had an, until now, unknown passion— he was an avid gold investor and predicted the price spike of 2010-2011, documents revealed.
In 2010, Bin Laden wrote a letter to Al Qaeda’s management instructing them to set aside about $1.7 million to buy gold bars and coins, the New York Times reported.
In the document, declassified last month by the Central Intelligence Agency (CIA), he said gold prices would rise in the coming years. “If need arises sell foreign currency first. Leave gold till the very end,” he wrote.
He even thought that the precious metal could hit $3,000 an ounce.
And he didn’t stop there. Bin Laden even forecast that the precious metal, which was trading at $1,390 an ounce at the time, could hit $3,000 an ounce.
His price outlook proved wrong. Gold prices did climb, but only to $1,900 per ounce.
As per today, prices for the yellow metal are slightly weaker due to a recovery in equities and the dollar, which prompted some profit-taking after Tuesday’s rally.
Spot gold was last down1% to $1,218.86 an ounce, with U.S. gold futures for June delivery down $9 an ounce at $1,220.60.
Read Bin Laden’s translated letter sent to Al Qaeda’s general manager, Atiyah Abd al-Rahman:
[gview file=”https://mining.com/wp-content/uploads/2016/04/UBL-Gold-Letter.pdf”]
2 Comments
Guy Mullins
In the book, Osama’s Angel from Amazon, bin Laden deals with the CIA selling raw opium to be refined into heroin for sale to Russian soldiers during the Afghan War with Russia. This trade continues after the war, but bin Laden naturally wants to hedge his dollar exposure as his planned attacks on America will impact his savings. Gold was the natural hedge for 9-11 and even more so for Operation Ali Faaks planned for the future.
DELLA
HELLO , THIS IS THE DIAMOND MINE HEIRESS JUST WANT TO SEND YOU A LETTER THAT I AM STILL WORKING ON GETTING FRAUDS OFF MY MINE PROPERTIES IF YO SEE STRANGE PEOPLE DIGGING OR TRYING TO GET FREE DIAMONDS CONFRONT THEM WITH POLICE OR WEAPONS. THANK YOU DELLA CREWS…