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London Gold Market Report
from Ben Traynor
BullionVault
Tuesday 11 September 2012, 07:00 EDT
Investors “Enthusiastic for Gold and Silver” as Fed QE Expectations “Keep Prices Near Highs”
U.S. DOLLAR gold prices traded around $1730 an ounce during Tuesday morning’s London session, broadly in line with where they started the week, while European stock markets ticked lower and longer-dated US Treasuries dipped.
Silver prices traded between $33.60 and $33.70 per ounce for most of this morning, near to [...]
Electronic trading firm Knight Capital Group said Wednesday that a “technology issue” in its market-making unit had affected the routing of shares of about 150 stocks to the New York Stock Exchange, where abnormal volatility roiled the markets in early trading.
Knight said in a statement that it had notified its market-making clients this morning to route NYSE-listed orders to other venues.
The company said over-the-counter securities and trading in its other businesses were [...]
Underwriter says it will adjust prices for investors who overpaid for shares
Two congressional panels reviewing IPO debacle
Shareholders filed a lawsuit alleging banks that underwrote the IPO downgraded revenue projects for the company but never released the information to the public
Facebook CEO Mark Zuckerberg saved $174 million by selling off 30.2 million shares at $37.58 each
The Securities and Exchange Commission is investigating the accusations
Claims by four of Wall Street’s main market [...]
WSJ
* The U.S., EU and Japan plan to ask the World Trade Organization to press China to ease its stranglehold on rare-earth minerals.
* U.S. commanders had mobilized a search party to hunt for an Army sergeant after he left his post in Afghanistan, but were too late to stop him from allegedly killing 16 civilians.
* Rising appetites for borrowing and investing are fueling a bond market revival, lifting revenue at [...]
From Reuters:
Deutsche Boerse AG’s (DB1Gne.DE) last-ditch lobbying efforts in support of its proposed takeover of NYSE Euronext (NYX.N) look set to fail, leaving the deal heading for the rocks with European antitrust regulators expected to block the deal
Deutsche Boerse’s Reto Francioni and NYSE Euronext Chief Executive Duncan Niederauer hope to salvage the deal by pressing the case for the merger with commissioners ahead of a February deadline in Brussels.
“Both companies [...]
Carlos Slim, the world’s richest man, lost about $6.7 billion this week.
The Mexican billionaire’s stock portfolio, measured in U.S. dollars, has dropped about 9.5 percent since July 29 and is valued at about $64.4 billion, according to data compiled by Bloomberg. That compares with a 7.2 percent slide in the Standard & Poor’s 500 Index.
Slim, 71, has taken a hit as Mexico’s benchmark IPC index dropped 6.4 percent and the [...]
From WSJ:
NEW YORK—Silver futures posted fresh losses, trading well below $40 an ounce, as some investors opted to shed positions rather than put up additional capital required by a new round of trading-cost increases by exchange-operator CME Group Inc.
Gold prices echoed silver’s losses, with the yellow metal dangling close to $1,500 an ounce.
Silver for May delivery was down $1.908, or 4.8%, at $37.475 per troy ounce in early morning trade [...]
The National Security Agency, the top U.S. electronic intelligence service, has joined a probe of the October cyber attack on Nasdaq OMX Group Inc. (NDAQ) amid evidence the intrusion by hackers was more severe than first disclosed, according to people familiar with the investigation.
The involvement of the NSA, which uses some of the world’s most powerful computers for electronic surveillance and decryption, may help the initial investigators — Nasdaq and [...]
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