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Archive for May 21st, 2011|Daily archive page

China is now top gold bug

In World News on May 21, 2011 at 12:11 am

By The Wallstreet Journal

Chinese investors are snapping up gold bars and coins, buying more than ever before in the first quarter of 2011 and overtaking Indian buyers as the world’s biggest purchasers of the metal.

A growing middle-class in China is raising the appetite for gold there.

China’s investment demand for gold more than doubled to 90.9 metric tons in the first three months of the year, outpacing India’s modest rise to 85.6 tons, the World Gold Council said in its quarterly report on Thursday. China now accounts for 25% of gold investment demand, compared with India’s 23%.

The report underscores the rising appetite for gold among the growing middle-class in China. Fears of the country’s soaring inflation, as well as a search for new investments, is luring investors to gold, and marketing of the precious metal has also increased in recent months.

“I think people will be surprised by the strength in the Chinese demand, but we think this is a trend that is set to continue,” said Eily Ong, an investment research manager at the gold council.

Historically, India has been the largest investment market for gold. In 2007, just before investing in gold began to…

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You need to be watching what’s developing in Spain right now

In Europe News on May 21, 2011 at 12:11 am

By Gregory White

Protests have been raging in Spain since Sunday, May 15. The one we’ve been seeing pictures of is in Madrid, in the famous Puerta del Sol. But there were protests in 60 different locations on Sunday, and they’re still raging in different parts of the country.

The center of the movement is very much Puerta del Sol, where protesters are now camping out overnight just like they did in Tahrir Square in Egypt. The protesters claim they will stay in the square until after regional elections this Sunday, according to Der Spiegel. The protest movement has been declared illegal by the government, over fears it may influence the result of the elections. The traditional media is allegedly under-covering the story.

Protesters aren’t associated with any political party in particular and, instead…

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Toxic pesticides from GM food crops found in unborn babies

In World News on May 21, 2011 at 12:10 am

By Andy Bloxham

Scientists at the Department of Obstetrics and Gynaecology, at the University of Sherbrooke Hospital Centre in Quebec, took dozens of samples from women.

Traces of the toxin were found 93 per cent of the pregnant mothers and in 80 per cent of the umbilical cords.

The research suggested the chemicals were entering the body through eating meat, milk and eggs from farm livestock which have been fed GM corn.

The findings appear to contradict the GM industry’s long-standing claim that any potentially harmful chemicals added to crops would pass safely through the body.

To date, most of the global research which has been used to demonstrate the safety of GM crops has been funded by…

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