| BID | ASK | CHG $ | CHG % | |
|---|---|---|---|---|
| GOLD | 1721.80 | 1722.50 | $4.00 | 0.23% |
| SILVER | 33.694 | 33.734 | $0.084 | 0.250% |
| PLATINUM | 1624.50 | 1629.50 | $7.00 | 0.43% |
| PALLADIUM | 703.00 | 707.00 | $0.50 | 0.07% |
| CHARTS | WEEK | 30 DAY | 1 YR | 5 YR | 10 YR |
Monday, Feb. 06, 2012
Would Eurozone Be Better Off Without Greece?
By James O'Dell February 6, 2012, Los Angeles – The price of Gold eased 1.82 percent or $32.00, to close at $1,726.00 an ounce on Friday, after better than expected payrolls data put investors hopes for more stimulus from the ...
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Gold News from Morgan Gold
China Reducing Holdings Of U.S. Treasury Debt
August 24, 2010
August 24, 2010, Los Angeles - The price of Gold was mostly flat on Monday closing at $1,226 as the dollar firmed against the euro and Silver closed lower at $17.93. The Dow, Nasdaq, and S&P ended only slightly lower as upbeat company news offset mounting concerns over the economy.
Gold bullion prices have been holding well above $1200 an ounce and last week, Gold had its first three week rally since June. Gold rallied to a 6 week high of $1,237 an ounce last week after weak U.S. data sapped confidence in the economic recovery.
The rally followed the release of weak employment data showing new claims for U.S. employment benefits reached new highs. Bullion prices have been rising, since bottoming in late July, on safe haven buying amid fears of a possible double dip recession.
The Fed's tepid outlook for the U.S. economy also helped bolster the price of Gold. The Gold price continues to hover within 3.2 per cent of its $1,265 all time high.
Recently released US Treasury data shows China has been actively reducing its holdings of Treasury debt. China has cut its holdings by $100 billion over the past year to just $844 billion. China has been seeking new ways to recycle its trade surplus and hold back any rise in the yuan.
"Diversification should be the basic principle," said Yu Yongding, ex-adviser to the Chinese central bank. China has been buying record amounts of Japanese, Korean, Thai, and Latin American bonds to replace its U.S. debt holdings.
Beijing is buying Gold bullion on the dips and through purchases of scrap ores. They are also making deals with miners such as Coeur d'Alene in Alaska. China is buying boatloads of mineral rich raw materials in Alaska and the China National Gold Group Corp. is extracting the tiniest flecks of Gold from the boatloads of muck.
This extracted Gold won't show up in China's official imports report or as trade data from major commodity exchanges or bullion markets. This Gold will replace China's holdings of U.S. treasury debt.
Take a tip from China and don't hold paper assets with questionable value when you can hold physical Gold bullion. Protect your wealth by investing in Gold and Silver coins and bars, today.
‹‹ news archives
Gold bullion prices have been holding well above $1200 an ounce and last week, Gold had its first three week rally since June. Gold rallied to a 6 week high of $1,237 an ounce last week after weak U.S. data sapped confidence in the economic recovery.
The rally followed the release of weak employment data showing new claims for U.S. employment benefits reached new highs. Bullion prices have been rising, since bottoming in late July, on safe haven buying amid fears of a possible double dip recession.
The Fed's tepid outlook for the U.S. economy also helped bolster the price of Gold. The Gold price continues to hover within 3.2 per cent of its $1,265 all time high.
Recently released US Treasury data shows China has been actively reducing its holdings of Treasury debt. China has cut its holdings by $100 billion over the past year to just $844 billion. China has been seeking new ways to recycle its trade surplus and hold back any rise in the yuan.
"Diversification should be the basic principle," said Yu Yongding, ex-adviser to the Chinese central bank. China has been buying record amounts of Japanese, Korean, Thai, and Latin American bonds to replace its U.S. debt holdings.
Beijing is buying Gold bullion on the dips and through purchases of scrap ores. They are also making deals with miners such as Coeur d'Alene in Alaska. China is buying boatloads of mineral rich raw materials in Alaska and the China National Gold Group Corp. is extracting the tiniest flecks of Gold from the boatloads of muck.
This extracted Gold won't show up in China's official imports report or as trade data from major commodity exchanges or bullion markets. This Gold will replace China's holdings of U.S. treasury debt.
Take a tip from China and don't hold paper assets with questionable value when you can hold physical Gold bullion. Protect your wealth by investing in Gold and Silver coins and bars, today.
‹‹ news archives
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