Gold soars above $1,600 amid fears of Cyprus bank deposit tax

Stock market - Photo by: Katrina.Tuliao

Cyprus agreed to receive a 10 billion euro ($13 billion) bailout from the International Monetary Fund and its European partners. In exchange, the Cyprus government is debating to impose a bank deposit tax: a 6.75 percent tax on deposits under 100,000 … [Read more...]

Russia, other central banks increase gold holdings in January: IMF

Gold

Soon after the World Gold Council (WGC) issued a report finding central banks are purchasing high levels of gold bullion, the International Monetary Fund (IMF) revealed that Russia and Kazakhstan expanded their respective gold reserves for a fourth … [Read more...]