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Deputy prime minister describes what amounts to a gold-for-oil barter systemGovernment says Iran has imported billions of dollars worth of gold from Turkey since MarchIn April, Turkey exported $ 1.2 billion in gold to Iran, a 438.2% jump from the previous yearEconomists say the gold-for-oil trade shows the U.S.-led sanctions are hurting IranIstanbul — Over the last six months, Iran has evaded U.S. sanctions by importing Turkish gold to pay for billions of dollars worth of energy sales to Turkey.Turkey’s deputy prime minister has described what amounts to a gold-for-oil barter system.Read more: Turkey: Facing a soft landing or serious [...]

In a week in which gold prices neared their highest level in three weeks and were seen by one company to reach $ 2,000 an ounce next year, the precious metal is enjoying its time in the sun. It’s also finding its way into the wallets of some of the richest consumers in Kazakhstan – in credit-card form. Visa and Sberbank have begun offering a credit card made of solid gold to Sberbank’s top 100 customers in Kazakhstan as a companion card to the Visa Infinite card, hoping to capitalize on what they see as a “growing appetite for elite, [...]

Argan oil, crushed from the nut of the rare Argan tree, is a traditional Berber productRecently, the oil has been touted as a miracle beauty treatment by cosmetic industry in the westProduction has been driven by hundreds of women’s worker co-ops using traditional methodsPopularity of oil has also helped the survival of the tree, which once faced extinctionAgadir, Morocco — In Agadir, the arid heartland of Morocco’s indigenous Berber population, a quiet oil boom is gaining momentum, one drop at a time.Argan oil, crushed from the seeds of the short, spiky argan tree, has been used for centuries as a [...]

An analyst’s report released Tuesday predicts that gold will rise to more than $ 2,400 an ounce in the next two years due to the Federal Reserve’s latest decision to further ease monetary policy. The report issued by Bank of America’s (NYSE: BAC) Merrill Lynch Global Research unit says the run- up in gold prices in recent years has coincided with an “aggressive policy” of easing by both the U.S. Fed and European Central Bank. The analysts expect that to continue. Gold was selling for about $ 750 an ounce in early September 2008, just ahead of the collapse of [...]

CHICAGO Gold stocks rallied, shedding losses, following the Federal Reserve’s Thursday statement it would begin a new program of bond buying, effectively launching a third round of quantitative easing, or QE3. The SPDR Gold Trust gained $ 1.16, or 0.7%, to $ 169.05 a share on the New York Stock Exchange. The iShares Gold Trust gained 14 cents, or 0.8%, to $ 17 per share. The SPDR S&P Metals and Mining ETF gained 32 cents, or 0.7%, to $ 44.90 a share. The Market Vectors ETF Gold Miners index gained 20 cents, or 0.4%, to $ 50.30 a share.

Olympic Gold medal winner, Tianna Madison, is now helping young women gain crucial skills. STORY HIGHLIGHTS Olympic gold medalist Tianna Madison helps young women develop personal strength Through her program, Club 360, she teaches girls to live with self-respect and integrity As a world record holder and Olympic champion, she uses her own experience as an inspiration Editor’s note: We want to hear from you — what woman inspires you, and why? She could be another athlete, or a writer, an activist, or even your mom. Leave your suggestions, stories and memories in the comments section below and we’ll feature [...]

Tatyana McFadden is an eight-time world champion sprint athlete from the United States. She has previously participated in Paralympic Games in Athens and Beijing. So far in London, she has added a gold to her medal stash. Before the London Paralympics, Jessica Long told usaswimming.com she wanted to have fun while competing this year. This relaxed attitude has worked well for Long who has won three gold medals since arriving in London, which she is adding to her nine previous Paralympics medals. Sarah Storey was a big name for ParalympicsGB before the Games started. She cemeted her name in the [...]

What do Olympic athletes Gabby Douglas, Ryan Lochte and Lolo Jones all have in common? Sure, London called and they all hopped the pond in search of Olympic glory, but it’s their parents’ financial misfortunes that connects the dots between these seemingly superhuman marvels. American hurdling sensation Lori (aka “Lolo”) Jones was once homeless and has said her family was raised on government cheese. Swimmer Lochte’s recently divorced parents are facing foreclosure on their Florida home and, according to court filings, his mother is trying to dismiss a lawsuit from CitiMortgage seeking to recoup $ 250,000. And Natalie Hawkins, mom [...]

Usain Bolt reflects on winning the 200 meters final, the most talked about Olympic moment on Twitter.Usain Bolt was the most talked about athlete on social media, say Twitter and FacebookHis sprint finals were the most discussed Olympic eventsU.S. swimmer Michael Phelps was the second most talked about OlympianThe Spice Girls appearance at the closing ceremony prompted more chatter than any eventLondon — His blistering pace and larger-than-life antics made him the king of the track in London, and bolstered his claims to be a “living legend.”Now figures released by Twitter and Facebook have confirmed that Usain Bolt was the [...]

Click to watch videoLondon – Did London 2012 Olympic organizers scare off too many people?It started to occur to me last week that I was getting seats on trains and buses at times that I shouldn’t. I had the fastest commute home in 22 years. I beat my best by ten minutes and now compare myself to a certain female swimmer.Transport For London (TFL) warned us for years that there would be a 20% increase in travel during the Games and that certain stations would be exceptionally busy.The crabby newspaper writers warned about so-called Limousine Lanes clogging traffic in London. [...]