U.S. DOLLAR gold bullion prices failed to hold onto gains made in Monday’s Asian session, falling to $1611 an ounce by lunchtime in London, just a few Dollars above Friday’s six-month low, as the US Dollar extended recent gains.
Gold dropped 3.4% over the course of last week, including a sharp drop during Friday’s US trading.
“The latest price slide was accompanied by significant outflows from gold ETFs,” says today’s commodities note from Commerzbank.
Read more: http://www.businessinsider.com/pound-at-risk-of-large-scale-devaluation-2013-2#ixzz2LHmqAzij
By Polya Lesova, MarketWatch
NEW YORK (MarketWatch) — The British pound rallied on Wednesday after minutes from the Bank of England’s latest meeting showed the central bank was less inclined to expand its bond-buying program.
Sterling GBPUSD +0.60% rose to $1.6027 against the U.S. dollar in recent trading, up from $1.5933 late Tuesday. Read more about currencies trading.
In a surprise shift, Adam Posen joined the majority of the nine-member monetary-policy committee to vote [...]
With continued turmoil in global markets, King World News interviewed internationally followed Martin Armstrong, Founder and Former Head of Princeton Economics International, Ltd.. Armstrong’s firm rose to be perhaps the largest multinational corporate advisor in the world. When asked what to look for going forward, Armstrong told KWN a fascinating account of what led to the ’87 Crash, “When Volcker raised interest rates [...]
By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — The U.S. dollar strengthened on Monday in Asian trading hours, extending gains made last week amid intensifying fears about Europe’s ability to handle its ongoing sovereign-debt crisis.
The dollar index [...]
It’s been two weeks since George Soros bought himself a major economic conference designed to remake the entire global economy. Just because the event received little major news attention, it still had an impact Americans might be reeling from for years.
by Gold Core
Gold Over £900/oz As British Pound Falls Sharply – Soaring Inflation Sees UK Retail Sales Plunge Most On Record
Gold is marginally lower in all currencies today except sterling after UK retail sales plunged the most on record in March due to deepening inflation. Consumer’s finances in the UK and internationally are being negatively impacted by food and energy inflation showing the UK’s vulnerability [...]
Never mind the lackluster economy, the huge trade deficit or the government’s piles of debt: The U.S. dollar is still expected to outperform most of the world’s major currencies next year.
“By all rights, the dollar should be declining in value, but it’s not,” says Eswar Prasad, economics professor at Cornell University. “For the dollar to decline in value, you must have currencies on the [...]
By Jonathan Clark
The European currencies have reached a critical juncture. Trading over the next several days will not only determine their fate, but those of Asian and commodity currencies as well. We have been arguing that the European currencies have formed a major peak, but stronger currencies like the Aussie and Kiwi can still reach new highs during the first half of December. The AUD and NZD have fallen sharply [...]