Precious metals remained under pressure yesterday and closed with losses for both gold and silver. Gold closed down 0.2% or $3.50 to $1669.30/oz. Silver closed with a loss of 1.7% – down 54 cents to $31.10/oz. Continue reading
Tag Archives: goldcore
Silver Demand In China For Wealth Protection to Climb to Record 7,700 Tons
Although China as the 2nd largest world economy may be in an economic slump, investors are seeking out silver as a value alternative investment. Silver climbed 15% this year and ETF’s holding silver have gained 6.5%. Research from Beijing Antaike said that 33% of the country’s demand comes from jewellery and coins, the rest for use in photography, solar panels electrical appliances. Continue reading
JPM and Goldman See $1,800/oz Gold By Year End – Iran, Middle East and Inflation Risks Cited
JP Morgan and Goldman Sachs have overnight revised upwards there year
end forecasts to $1,800/oz and $1,840/oz respectively.
JPMorgan said in a note published today that it expects gold to move
toward $1,800/oz by year end, citing negative real interest rates in
the U.S., sovereign risk in Europe and instability in the Middle East. Continue reading
Gold Option Traders Most Bullish Since Bottom In October 2008
Gold is mostly unchanged as investors gear up for the US Fed chairman, Ben Bernanke’s speech tomorrow.
Today’s AM fix was USD 1,657.00, EUR 1,320.21 and GBP 1,046.48 per ounce.
Yesterday’s AM fix was USD 1,664.25, EUR 1,325.04 and GBP 1,051.66 per ounce. Continue reading
Euro Gold Technicals Look Near Perfect
Gold is hovering near its highest price level in four months due to safe haven demand on concerns about global economic growth and the unresolved euro debt crisis.
The possibility of Ben Bernanke and Mario Draghi announcing further money printing and monetary easing is also supporting gold. The US Fed chairman speaks this Friday and may or may not choose Friday to announce QE3. However with a Fed meeting set for September, it is unclear when further stimulus measures will be announced. Continue reading
[KR216] Keiser Report: Kleptocrats Go for Gold
We discuss lunatics for Italian gold and another failed debt auction in Germany. In the second half of the show, Max talks to Mark O’Byrne of Goldcore.com about the European debt crisis and Ireland’s gold.