| BID | ASK | CHG $ | CHG % | |
|---|---|---|---|---|
| GOLD | 1720.60 | 1721.30 | $5.20 | 0.30% |
| SILVER | 33.609 | 33.649 | $0.001 | 0.003% |
| PLATINUM | 1623.50 | 1628.50 | $6.00 | 0.37% |
| 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
Yuan Replacing US Dollar In Global Trade
August 27, 2010
August 27, 2010, Los Angeles–The price of Gold closed modestly lower as the dollar slipped against the euro and the yen on Thursday.
The Gold price, which has been forecast to rise to $1500 this year, has risen 12.1 percent against the U.S. dollar over the past 6 months and is on its way to rise for a tenth consecutive year.
Silver lost one cent on Thursday and closed at $18.89 an ounce as the Dow closed below the important 10,000 threshold.
Investors are awaiting Fed Chairman Ben Bernanke's speech at the annual Jackson Hole central banking symposium in Wyoming today. They will be watching for any changes in the Fed's views on the economy since its policy meeting earlier this month.
"In addition, the market will closely watch for hints of further expansion to the balance sheet. Jackson Hole has not traditionally been a venue for major policy statements, but we do not exclude this possibility," analysts at JPMorgan said in a research note.
With European Central Bank President Jean-Claude Trichet also scheduled to speak at the conference investors are concerned that Trichet’s optimism and Bernanke’s caution could weaken the dollar against the euro.
“The ECB instinctively wants to anticipate a normalization of inflation, whereas the Fed would rather see inflation entrenched before normalizing policy,” said Julian Callow, a former Bank of England economist. “The ECB seems to be viewing the world more optimistically and the Fed more pessimistically.”
Many of the world's largest banks have recently been promoting the use of the Chinese yuan, also known as the renminbi, instead of the dollar for trade deals with China.
HSBC and several other large international banks are offering financial incentives and discounted transaction fees to companies that choose to settle trade in the yuan.
"We're now capable of doing renminbi settlement in many parts of the world," said Chris Lewis, HSBC's head of trade for greater China. "All the other major international banks are frantically trying to do the same thing."
China has taken steps to boost its currency and has established Hong Kong as the global center for offshore renminbi business.
Physical Gold bullion will always represent real value. Don't invest in paper assets when you can invest in solid assets like Gold and Silver bullion and coins. Invest today.
‹‹ news archives
The Gold price, which has been forecast to rise to $1500 this year, has risen 12.1 percent against the U.S. dollar over the past 6 months and is on its way to rise for a tenth consecutive year.
Silver lost one cent on Thursday and closed at $18.89 an ounce as the Dow closed below the important 10,000 threshold.
Investors are awaiting Fed Chairman Ben Bernanke's speech at the annual Jackson Hole central banking symposium in Wyoming today. They will be watching for any changes in the Fed's views on the economy since its policy meeting earlier this month.
"In addition, the market will closely watch for hints of further expansion to the balance sheet. Jackson Hole has not traditionally been a venue for major policy statements, but we do not exclude this possibility," analysts at JPMorgan said in a research note.
With European Central Bank President Jean-Claude Trichet also scheduled to speak at the conference investors are concerned that Trichet’s optimism and Bernanke’s caution could weaken the dollar against the euro.
“The ECB instinctively wants to anticipate a normalization of inflation, whereas the Fed would rather see inflation entrenched before normalizing policy,” said Julian Callow, a former Bank of England economist. “The ECB seems to be viewing the world more optimistically and the Fed more pessimistically.”
Many of the world's largest banks have recently been promoting the use of the Chinese yuan, also known as the renminbi, instead of the dollar for trade deals with China.
HSBC and several other large international banks are offering financial incentives and discounted transaction fees to companies that choose to settle trade in the yuan.
"We're now capable of doing renminbi settlement in many parts of the world," said Chris Lewis, HSBC's head of trade for greater China. "All the other major international banks are frantically trying to do the same thing."
China has taken steps to boost its currency and has established Hong Kong as the global center for offshore renminbi business.
Physical Gold bullion will always represent real value. Don't invest in paper assets when you can invest in solid assets like Gold and Silver bullion and coins. Invest today.
‹‹ news archives
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