MADRID (MarketWatch) — Gold prices pushed higher on Wednesday after New York Federal Reserve President William Dudley said the economic outlook is still uncertain ahead of Federal Reserve Chairman Ben Bernanke’s testimony before Congress later in the day.
Chinese housewives who snapped up gold amid the mid-April tumble are believed to have led to a rebound in international gold prices. But gold prices have once again plummeted, falling on May 6, with many now believing that the group's contribution was fleeting and they are not the invisible hand that helped stabilize gold prices, reports Shanghai's First Financial Daily.
The unique group of... read more
Silver prices have slumped to their lowest level since September 2010 and gold prices are down 18% year-to-date leading many market observers to declare that the super-rally in commodities is over.
Jim Rogers, the legendary investor and Chairman of Rogers Holdings, says the commodities bull market continues. He calls the latest slump in prices a correction. “I still don’t see massive new... read more
Introduction:
Fiat currencies are paper monies issued and circulated by government legislation and decreed as a country’s legal
tender to function as a medium of exchange for all transactions of goods and services within its economy. Only the
federal government has the power and the authority to issue currency notes for distribution throughout the nation.
Fiat currencies,... read more
On March 20, 2013, the Swiss People’s Party, considered a right-wing populist and nationalist party, collected enough signatures to force a referendum on Switzerland’s gold reserve. If passed the initiative would require the Swiss National Bank (SNB—the country’s central bank) to maintain at least 20% of its assets in gold, and mandates that the gold be kept entirely in Switzerland. The... read more
The US Treasury says that it holds 261,499,000 fine troy ounces in its international reserves.
The gold is valued on the books at $42.2222 per fine troy ounce. This represents a total value of $11,041,063,078.
Since there are 32,150.7466 troy ounces in a tonne, the US Treasury has 8,133.53 tonnes of fine gold on its books. Note that the number as presented on a copy of... read more
Daily Bell: Nice to speak with you again. Let's jump right in. What's going on with gold? Why are mining stocks down?
Doug Casey: I'm not concerned about gold being down because markets fluctuate. And considering that gold's been in a bull market for a dozen years, I'm very unconcerned about the fact that it's come off. All the fundamentals that underlie t... read more
The “very sharp reversal in gold and silver” appears to be due to short covering after gold’s inability to fall below an April low of $1,321.50, said Chintan Karnani, an independent bullion analyst based in New Delhi.
Through Friday, the most actively traded June contract... read more
With over a decade of straight positive gains for the price of gold, it was inevitable that there would be a correction, and we're in the middle of that right now. But the latest report from the World Gold Council concludes the fundamentals supporting the price of gold remain in place.
Marcus Grubb, Managing Director, Investment, at the World Gold Council, read more
America’s ticking debt bomb has been reset. Washington has suspended the debt ceiling, setting a date, and not a concrete dollar sum as a deadline, an unprecedented first in US history.
Citing ‘extraordinary measures’, the US Treasury has further delayed tackling America’s debt, and will wait until Labor Day, September 2nd, to revisit the burgeoning crisis. The ceiling has been lifte... read more
