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Top Gold Refinery Loses 2.7 Tons of Gold

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Gold market news, July 30, 2014: On July 25, South Africa’s Rand Refinery – the biggest processing facility for gold in Africa and one of the biggest worldwide – announced it will receive a shareholder loan to make up for “lost” 87,000 ounces (2.7 tons) of physical gold in its inventory. The press release describes what amounts to a $112 million loss at current gold prices, making this one of the strangest stories to hit the gold market in 2014.

The post Strangest Gold Market News of 2014: Top Refinery Loses 2.7 Tons of Gold appeared first on Money Morning – Only the News You Can Profit From.