Gold has been on a definite downtrend since last October, with bullion falling a dramatic 5.1% in February alone. As prices have dropped and investors lost faith, central banks have been on the opposite side of the trade, gobbling up bullion at a rate of 27-metric tons a month, according to UBS’ gold expert Edel Tully. ... read more
Today top Citi analyst Tom Fitzpatrick spoke with King World News about the ongoing crisis in Cyprus, knock-on effects in key markets, and what investors should look for in the gold and silver markets going forward. Below is what top Citi analyst Fitzpatrick had to say in his latest report, along with 2 powerful charts.
Eric King: “Tom, the Cyprus disaster has so many people frightened, yo... read more
Gold fever continues to grip the nation.
The CNBC All-America Economic Survey finds that Americans once again chose gold as the top investment choice, beating out real estate, stocks, savings accounts and bonds.
The poll of 800 Americans finds that 35 percent picked gold as their best investment choice, down from 37 percent a year ago, but still beating real estate, which was the top pick... read more
They won't make a sound no matter how many of them you try to toss in a bucket, and you can't pitch them in a fountain and wish for good luck. But make no mistake, bitcoins are getting big.
The online alternative currency, previously little more than a curiosity in financial markets since its 2009 inception, has zoomed in trading value since the Cyprus banking crisis erupted two weeks ago.... read more
Global investors had to muster the courage to keep calm as news of Cyprus' proposed partial theft of all bank deposits took Wall Street by surprise, closed the country's banks and drove the price of gold higher.
The thoughtless idea was intended to capture a portion of the $31 billion in bank assets held by Russians. According to the Financial Times, Cyprus has developed a "well-earn... read more
Had those with money tied up in the Cypriot banking system owned gold instead, they might have been able to watch the unfolding crisis relaxing on the beach. So why isnt gold going through the roof? Is Cyprus too small to matter? Can it happen in the U.S.? Should investors hold gold?
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Until recently, an entire class of investors that control a huge pool of money - more than $27 trillion worldwide - have almost entirely ignored gold.
But lately, this group has begun to show more interest in the yellow metal, a trend that ultimately will exert massive upward pressure on gold prices.
We're talking about pension funds, which typically have had little interest in gold.
B... read more
What have we learned so far from the events surrounding Cyprus? The endgame for the euro is back on the table and fast approaching.
The EU has come to the realization that it cannot continue bailing out countries left and right so the use of a deposit tax was a surprise to everyone in the market. Hidden under the veil of taxing laundered Russian money signifies more troubling problems.
Th... read more
The price of silver has been steadily falling since April of 2011. Yet the U.S. Mint is having trouble keeping up with demand for One Ounce American Silver Eagles, as gold dealers tell their customers they will have to wait a week to a week and a half for delivery, and junk bags of the 90% silver coins (the silver coins in use before 1965) are harder and harder to come by. Even with this declin... read more
With investors around the world now watching in fear after as government theft has become a reality, today Kevin Wides out of Switzerland reports on the ongoing nightmare of the ‘Cyprus Solution’ and what investors must do to protect themselves. Below is what Wides had to say:
“The reason why there has not been excessive inflation or a hyperinflationary environment, despite all the m... read more
