by GoldCore Gold Bullion
Today’s AM fix was USD 1,734.00, EUR 1,354.05, and GBP 1,089.06 per ounce.
Yesterday’s AM fix was USD 1,723.25, EUR 1,349.66, and GBP 1,083.67 per ounce.
Silver is trading at $33.21/oz, €26.02/oz and £20.94/oz. Platinum is trading at $1,580.10/oz, palladium at $638.90/oz and rhodium at $1,055/oz.
Gold climbed $20.20 or 1.18% in New York yesterday and closed at $1,732.10. Silver surged to a high of $33.205 and finished with a [...]
America’s Biggest Companies Reveal What’s Really Going On In The Global Economy
Nike warns that it’s getting more expensive to make things in China
“Gross margin declined 80 basis points to 43.5 percent. Gross margin continued to benefit from pricing actions and product cost reduction initiatives, however, this was more than offset by higher input costs, primarily materials and labor.”
Johnson & Johnson says that Europe’s slowest economies are cutting back on healthcare [...]
The global debt crisis has reached a dangerous new phase. Unfortunately, most Americans are not taking notice of it yet because most of the action is taking place overseas, and because U.S. financial markets are riding high. But just because the global economic crisis is unfolding at the pace of a “slow-motion train wreck” right now does not mean that it isn’t incredibly dangerous. As I have written about previously, [...]
Today’s AM fix was USD 1,589.25, EUR 1,271.40, and GBP 1,025.65 per ounce.
Yesterday’s AM fix was USD 1,593.00, EUR 1,264.79, and GBP 1,023.45 per ounce.
Silver is trading at $28.67/oz, €22.92/oz and £18.52/oz. Platinum is trading at $1,448.00/oz, palladium at $618.00/oz and rhodium at $1,200/oz.
Gold 1 Month Chart – (Bloomberg)
Gold climbed $5.60 or 0.35% yesterday in New York and closed at $1,600.20/oz despite stock markets giving up early gains on [...]
Gold’s London AM fix this morning was USD 1,652.50, EUR 1,257.71, and GBP 1,020.44 per ounce.
Yesterday’s AM fix was USD 1,661.25, EUR 1,253.02 and GBP 1,024.70 per ounce.
Gold fell $4.40 or 0.26% in New York yesterday and closed at $1,661.70/oz. Gold rose to over $1,670/oz in early US trading prior to selling capped price gains and the price then fell back to the $1,660/oz level.
Gold gradually fell during trading in [...]
Gold Market Sentiment Very Poor Despite Strong Fundamentals
Gold’s London AM fix this morning was USD 1,656.00, EUR 1,248.21, and GBP 1,042.95 per ounce.
Yesterday’s AM fix was USD 1,648.50, EUR 1,248.86 and GBP 1,039.01 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell 0.89% in New York yesterday and closed at $1,650.80/oz. Gold edged higher in Asia and ticked slightly higher before falling in Europe this morning where gold is now trading at $1,649.30/oz.
The global debt crisis, of course, is nothing new.
Since the dawn of time, men have been lending other men money (or other things of value) and not getting them back.
But it’s only recently that the solution to this state of affairs has gotten so complicated that even PhD economists can’t figure it out.
In most situations in which people or companies can’t pay their debts, a simple thing happens.
It’s called “bankruptcy.”
As Western governments drown themselves in debt the demand for physical gold remains very robust.
Author: David Levenstein Posted: Tuesday , 22 Nov 2011
Even though gold prices have not reacted as one would expect in light of the global debt crisis that continues to deteriorate, the demand for physical gold remains extremely robust. To me this is the lull before the storm and I believe that gold is building up for [...]
Gold did exactly as predicted in the update last weekend – it dropped back briefly to touch the bottom of our short-term reaction target range at $1680 before rebounding, as we can see on the 4-month chart below, and we were buyers around $1705 and below. The rebound on Tuesday left behind a clear bull hammer on the chart, which is positive. After the rebound gold advanced to the next [...]
Oct. 6, 2011, 5:00 a.m. EDT
LONDON, October 6, 2011 /PRNewswire via COMTEX/ — As economic data deteriorates and markets continue their decline, policymakers around the world are faced with a decision: Do nothing and face the likelihood of recession or even depression, or intervene in the economy with more monetary and fiscal stimulus.
Mounting Pressure To Act
As the debt crisis in the [...]
Euro Collapse Could Spark Global Depression, Soros Tells L’Hebdo
Thursday, 18 Aug 2011 06:47 AM
Billionaire investor George Soros said a collapse of the euro may spark a global financial crisis in a “new Great Depression,” L’Hebdo magazine reported, citing an interview.
“It seems to me that one still doesn’t understand what would happen if the euro collapsed,” Soros told the Swiss magazine in an e-mailed pre-release of tomorrow’s [...]
Germany’s Best-Selling Tabloid Bild’s Front Page Encourages Readers To Buy Gold
Gold has fallen today in all major currencies except the Swiss franc which has fallen on SNB intervention rumours. Gold is trading at USD 1,791.40 , EUR 1,257.10 , GBP 1,107.70, CHF 1,318.80 per ounce and 136,976.00 JPY. The yen has fallen by 8.7% against gold so far in August as the yen, while rising [...]
Financial history teaches that market prices are not just subject to cyclical fluctuations â€” mainly following the business cycle. They are also liable to much longer lasting secular trends, often spanning 15 years, 20 years or longer. These secular cycles are visible in stocks, commodities, bonds and precious metals.
Take gold as an example …
Gold experienced a secular bull market starting in the late 1960s and [...]
Interest-Rates / Global Debt Crisis
Sadly, though, even while most Americans were enjoying the holiday or hitting the malls, much of Europe was sinking deeper into a new, more severe phase of its sovereign debt crisis.
This crisis is unfolding despite Herculean rescues by the European Union, the International Monetary Fund and the U.S. Federal Reserve.
Itâ€™s striking right now.
And itâ€™s threatening to spread [...]
Gold Consolidates as Concerns of the Global Debt Crisis Increase
Contributed by David E. Levenstein
Sunday, February 28, 2010 12:52
According to various articles and reports, banks in Germany, France, Switzerland and the United Kingdom have a combined exposure of some USD 253 billion in Greece alone and around USD 2.1 trillion in the countries of Portugal, Ireland, Greece and Spain as a total. While debt laden Greece has to reduce itÃ¢â‚¬â„¢s deficit, [...]