The big sell orders at the end of the day have stopped in the bullion markets and the prices of gold and silver have rebounded in good measure. That’s the win-win scenario that ArabianMoney forecast would follow the raising of the debt ceiling ( read more
The era of easy money is shaping up to keep going into 2014.
The Bank of Canada’s dropping of language about the need for future interest-rate increases and today’s decisions by central banks in Norway, Sweden and the Philippines to leave their rates on hold unite them with counte... read more
It Really is a Loss in Confidence
It will play out in all markets. When I say collapse, it is a loss of confidence in paper money.
Take the Fed, for example. The Fed has printed almost $3 trillion since 2007. Now, that is without a liquidity crisis. I mean, we did have... read more
Gold advanced in New York as speculation of extended Federal Reserve stimulus boosted demand for precious metals.
Policy makers from Canada to Norway and Chile are reacting to another cooling of global growth, led this time by weakening in developing nations while inflation and job growth remain stagnant in much of the industrial world. Bul... read more
Authored by Eric Sprott of Sprott Global Resources,
Dear World Gold Council Executives;
As you very well know, the business environment for gold producers has been extremely challenging over the past few years. While demand for physical gold remains extremely strong, prices on the COMEX have fallen p... read more
Today’s AM fix was USD 1,311.75, EUR 959.51 and GBP 813.24 per ounce.
Yesterday’s AM fix was USD 1,316.00, EUR 962.27 and GBP 814.05 per ounce.
Gold rose $1.10 or 0.08% yesterday, closing at $1,315.20/oz. Silver climbed $0.31 or 1.42% closing at $21.19. Platinum rose $2.64 or 0.2% to $1,433.74/oz, while palladium increased $8.50 or 1.2% to $747/oz.
Gold hove... read more
To paraphrase William Shakespeare, “the debt ceiling drama is a tale told by idiots, full of sound and political fury, signifying nothing.” We now have a reprieve for three months - the 11th hour deal, complete with payoffs and the usual corruption, will keep the world safe for more ineptitude... read more
Gold edged up to near one and a half week highs above $1,316/oz today, supported by a surge in the U.S. National Debt of $328 billion in one day to over the $17 trillion mark.
Gold rose 3.5% last week and had its best weekly gain in two months due to increasing concerns about the appalling U.S. fiscal outlook and the outlook for the dollar.
The can kicking exercise that was the U.S. budge... read more
The news that dominated the week was the eleventh-hour decision by the Republican Party to back down from its game of chicken against the President over Obama-care, the budget and the debt ceiling.
The debate now continues facilitated by the debt ceiling being temporarily abandoned until February, when presumably the game of chicken will be run for a second time if nothing ha... read more
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The ultimate lynch pin for the silver market is the flow of physical metal to support ongoing price suppression. The flow of physical metal is mostly an illusion nearly equal to (and in some ways parallel with) the perceived strength of the paper currencies used to measure its value. Actual or threat of default in physical silver delivery to the CO... read more
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