| BID | ASK | CHG $ | CHG % | |
|---|---|---|---|---|
| GOLD | 1720.30 | 1721.00 | $5.50 | 0.32% |
| SILVER | 33.599 | 33.639 | $0.011 | 0.033% |
| PLATINUM | 1624.00 | 1629.00 | $6.50 | 0.40% |
| PALLADIUM | 702.00 | 706.00 | $1.50 | 0.21% |
| 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
Existing Home Sales Drop 27 Percent
August 25, 2010
August 25, 2010, Los Angeles – The price of Gold closed higher on Tuesday bringing Gold's August gains to 4.3 percent and gains for the year rose to 12.4 percent.
Silver rallied 2.2 percent for the day and closed at $18.378 an ounce. Investors sought the safe haven of Gold on Tuesday after a weak U.S. existing home sales report sent the Dow tumbling 134 points.
The worse than expected report showed sales of previously owned homes plunged 27.2 percent nationally in July following the expiration of a popular federal tax credit and ignited investors worries of a double dip recession.
Physical demand for Gold bullion remains strong as jewelers continue to stockpile the precious metal ahead of wedding season in top Gold consuming India.
China, the world's largest Gold producer and the number two consumer of Gold after India, has just promised to develop its Gold market amid rising private demand for the yellow metal.
The People's Bank of China said on Tuesday that banks are being urged to lend more to domestic Gold firms looking to go abroad, develop more yuan denominated Gold derivatives, and hedge bullion positions in overseas markets.
"This is largely positive news for gold," said Edel Tully, an analyst at UBS in London. "It looks like an effort to further liberalise the gold market and integrate it into China's financial framework. It indicates the importance of the Chinese gold market."
Fed Chairman Bernanke and European Central Bank President Jean-Claude Trichet are scheduled to speak at this weekend's annual Jackson Hole central banking symposium in Wyoming.
Tuesday's disappointing existing home sales data should provide Fed Chairman Bernanke with further evidence to support the resumption of the quantitative easing program since it's certainly not interest rates that are depressing home sales.
For this year’s Aug. 26-28 conference, the theme will be, “Macroeconomic Challenges: The Decade Ahead.” When policy makers debase currencies through quantitative easing programs, physical Gold will continue to represent real value.
Stop investing in paper assets and start investing in real assets like Gold and Silver bullion and coins.
‹‹ news archives
Silver rallied 2.2 percent for the day and closed at $18.378 an ounce. Investors sought the safe haven of Gold on Tuesday after a weak U.S. existing home sales report sent the Dow tumbling 134 points.
The worse than expected report showed sales of previously owned homes plunged 27.2 percent nationally in July following the expiration of a popular federal tax credit and ignited investors worries of a double dip recession.
Physical demand for Gold bullion remains strong as jewelers continue to stockpile the precious metal ahead of wedding season in top Gold consuming India.
China, the world's largest Gold producer and the number two consumer of Gold after India, has just promised to develop its Gold market amid rising private demand for the yellow metal.
The People's Bank of China said on Tuesday that banks are being urged to lend more to domestic Gold firms looking to go abroad, develop more yuan denominated Gold derivatives, and hedge bullion positions in overseas markets.
"This is largely positive news for gold," said Edel Tully, an analyst at UBS in London. "It looks like an effort to further liberalise the gold market and integrate it into China's financial framework. It indicates the importance of the Chinese gold market."
Fed Chairman Bernanke and European Central Bank President Jean-Claude Trichet are scheduled to speak at this weekend's annual Jackson Hole central banking symposium in Wyoming.
Tuesday's disappointing existing home sales data should provide Fed Chairman Bernanke with further evidence to support the resumption of the quantitative easing program since it's certainly not interest rates that are depressing home sales.
For this year’s Aug. 26-28 conference, the theme will be, “Macroeconomic Challenges: The Decade Ahead.” When policy makers debase currencies through quantitative easing programs, physical Gold will continue to represent real value.
Stop investing in paper assets and start investing in real assets like Gold and Silver bullion and coins.
‹‹ news archives
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