Gold gains traction in Islamic investing as rally spurs interest
Submitted by admin on Tue, 2025-08-19 10:27 Section: Daily DispatchesBy Yihui Xie
Bloomberg News
via News24, Cape Town, South Africa
Monday, August 18, 2025
In a small town an hour's drive from Malaysia's capital, a new, high-security vault illustrates the growing popularity of gold products and services designed to cater to Islamic principles.
Run by a subsidiary of Loomis AB, the Swedish cash- and bullion-handling company, together with local security firm E2S Group, the 20-ton facility in Nilai represents a push to tap into the nation's burgeoning Islamic bullion sector.
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Gold, not canola or coal, is China's top import from Canada, at least according to China
Submitted by admin on Mon, 2025-08-18 19:52 Section: Daily DispatchesChina is the world's leading gold-producing country, so why does it need to import gold from Canada? Is it because China sees gold as the world's once and future money?
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By Steven Chase
The Globe and Mail, Toronto
Monday, August 18, 2025
Gold bullion from Canada makes up a far greater portion of Chinese gold imports than is generally understood outside of China, according to data from the Asian country's customs agency that has drawn little notice outside of professional circles here.
The $1-billion gold mine bringing death to desperate villagers in Tanzania
Submitted by admin on Sun, 2025-08-17 16:34 Section: Daily DispatchesBy Jack Denton
The Sunday Times, London
Sunday, August 17, 2025
NYAMONGO, Tanzania -- It was the middle of the night and Chacha was bound hand and foot, hanging upside down from a bridge spanning the crocodile-infested Mara River.
He was there because of the gold.
Masked men had abducted Chacha from Nyamongo, a village near the North Mara gold mine, one of Tanzania's largest. He was transferred between police stations and tortured so badly he blacked out.
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Uganda targets higher exports with first big gold mine (owned by China)
Submitted by admin on Sun, 2025-08-17 16:17 Section: Daily DispatchesBy Elias Biryabarema
Reuters
Sunday, August 17, 2025
KAMPALA, Uganda -- Uganda has inaugurated its first large-scale gold mine, a $250 million Chinese-owned project in the country's east that will also refine the bullion to 99.9% purity, according to a statement from the president's office.
The landlocked east African country, which has a variety of minerals including copper, cobalt, and iron ore, wants to expand its mining industry and position itself as a major gold producer and exporter.
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Another gold rush could bring open pit mines to South Dakota's Black Hills
Submitted by admin on Sun, 2025-08-17 09:37 Section: Daily DispatchesBy Sarah Raza
Associated Press
Saturday, August 16, 2025
SIOUX FALLS, South Dakota -- A gold rush brought settlers to South Dakota's Black Hills roughly 150 years ago, chasing the dream of wealth and displacing Native Americans in the process.
Now a new crop of miners driven by gold prices at more than $3,000 an ounce are seeking to return to the treasured landscape, promising an economic boost while raising fears of how modern gold extraction could forever change the region.
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Avery Goodman: China's new physical gold mandate for insurers will reshape the gold market
Submitted by admin on Sat, 2025-08-16 20:54 Section: Daily DispatchesBy Avery Goodman
Seeking Alpha, Ra'anana, Israel
Friday, August 15, 2025
China has launched an initiative that is likely to fundamentally alter the global gold market.
Its insurance regulator issued a regulatory directive requiring certain insurance companies to allocate a fixed minimum portion of their huge assets to physical gold. This is unprecedented.
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