Gold world news roundup

IN THE US THE FED LAYS GROUNDWORK FOR QE3: Federal Reserve Vice Chairman Janet Yellen said a third round of large-scale securities purchases might become warranted if necessary to boost a US economy, challenged by unemployment and financial turmoil.
The central bank should also give “careful consideration” to Chicago Fed President Charles Even’s proposal to tie the near-zero interest-rate pledge to specific levels of unemployment and inflation, Yellen said today (oct 24) in a speech in Denver.

This postion was confirmed by Ben Bernanke in the Fed minutes (nov 4):

The FOMC statement was:

Federal Reserve Chairman Ben Bernanke opened the door to a new round of central-bank purchases of mortgage-backed securities after releasing dismal projections for economic growth and unemployment through 2014, but he declined to commit firmly to such a move.

It is certainly something we would consider if conditions were appropriate," Mr. Bernanke said in response to a question at a news conference following a two-day meeting of Fed officials. ... We're prepared to do more and we have the tools to do more.

IN EUROPE: A German refusal to use Bundesbank gold reserves to fund an expansion of the European Financial Stability Fund (EFSF) contributed to the breakdown of the G20 talks on Friday, UK sources have said. 
Over the weekend the Frankfurt Allgemeine Zeitung reported that it was
discussed at the G-20 meeting that Germany’s gold and currency reserves would be put at risk and used to increase Germany’s contribution to the “crisis fund.” The German government has very sternly denied those reports as Mr. Steffen Siebert, acting as the German Chancellor’s press secretary, said:
"Germany’s gold and foreign exchange reserves, which the Bundesbank administers,
were not at any point up for discussion at the G2- meeting in Cannes."

And what is China doing with gold? 

China unveils gold vending machine

Gold fever: Chinese concerns over inflation has seen the country install its first gold vending machine 

CHINA, the world's second largest bullion consumer, has installed the country's first gold vending machine.  2000 more are planned.

Shoppers in the popular Wangfujing Street shopping district in Beijing can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices, the People's Daily said on its website.
Each withdrawal is capped at 2.5 kilograms or one million yuan (about $160,000) worth of gold, the report said.