| BID | ASK | CHG $ | CHG % | |
|---|---|---|---|---|
| GOLD | 1592.60 | 1593.30 | $18.80 | 1.19% |
| SILVER | 28.720 | 28.760 | $0.720 | 2.568% |
| PLATINUM | 1453.50 | 1458.50 | $5.50 | 0.38% |
| PALLADIUM | 602.50 | 606.50 | $3.50 | 0.58% |
| CHARTS | WEEK | 30 DAY | 1 YR | 5 YR | 10 YR |
Saturday, May 19, 2012
Are Investors Draining Greek Banks And Buying Gold?
By James O'Dell Los Angeles, CA. – Morgan Gold - Gold and Silver bullion prices rallied for a second day on Friday, with the price to buy Gold now at $1,593.60 an ounce and the price to buy Silver at ...
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Gold News from Morgan Gold
Central Bank Buying Of Gold Hits Record Pace
November 25, 2011
By James O'Dell
Los Angeles, CA. – Morgan Gold - Gold bullion prices eased a bit on Friday morning and are currently trading at $1,680.50 an ounce with Silver following and trading at $31.04 an ounce after a nonproductive meeting of the top three eurozone economies on Thursday led to a disappointing Italian debt auction earlier today that further raised investor's concerns over Europe's debt crisis.
"There are two factors which are putting downward pressure on Gold," said Standard Bank commodities strategist Walter de Wet. "The first is weak emerging market currencies in general, and the Indian Rupee in particular. The second is funding stress in Europe." The euro plunged to a seven-week low against the dollar after the short-term debt auction sent yields on Italian debt soaring above 8 percent, despite the presence of the European Central Bank (ECB) in the market.
Meanwhile, Hungary's economy ministry is calling Moody's downgrade of the country's credit rating to junk status part of a series of "financial attacks" against the country. The ministry said Friday that the downgrade is not justified because Hungary's economic performance has improved over the past 18 months and while Moody's cut Hungary's debt rating by just one notch, from Baa3 to Ba1, it moved the country from investment grade to junk status.
Just one month after the price of Gold rose to a new all-time record high there is evidence that central bank demand for the yellow metal is also at an all-time high. October saw Russia, Kazakhstan, Colombia, Belarus and Mexico add a total of 25.7 metric tons of Gold valued at $1.38 billion to their reserves. Central banks have been expanding their Gold reserves for the first time in over twenty years, while the price of Gold remains on pace for an 11th straight annual gain.
Gold purchases by central banks could reach 450 tons this year, according to Marcus Grubb, of the World Gold Council (WGC). Central banks and government institutions combined to purchase only 142 tons last year, International Monetary Fund (IMF) data show. Don't leave your assets unprotected during these times of economic and geopolitical uncertainty, invest in physical Gold and Silver bullion and protect your wealth now and in 2012.
Widely recognized Gold and Silver bullion coins and bars can be bought and sold quite readily at Morgan Gold and they can be easily stored in a safe-deposit box if needed. Did you know you can add Gold and Silver bullion to your IRA? It's true, and it's a safe and effective way to start investing, just call 1.800.585.1773 and speak to a Gold and Silver investment specialist at Morgan Gold today. Ask about our Sterling Trust Precious Metals IRA.
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Los Angeles, CA. – Morgan Gold - Gold bullion prices eased a bit on Friday morning and are currently trading at $1,680.50 an ounce with Silver following and trading at $31.04 an ounce after a nonproductive meeting of the top three eurozone economies on Thursday led to a disappointing Italian debt auction earlier today that further raised investor's concerns over Europe's debt crisis.
"There are two factors which are putting downward pressure on Gold," said Standard Bank commodities strategist Walter de Wet. "The first is weak emerging market currencies in general, and the Indian Rupee in particular. The second is funding stress in Europe." The euro plunged to a seven-week low against the dollar after the short-term debt auction sent yields on Italian debt soaring above 8 percent, despite the presence of the European Central Bank (ECB) in the market.
Meanwhile, Hungary's economy ministry is calling Moody's downgrade of the country's credit rating to junk status part of a series of "financial attacks" against the country. The ministry said Friday that the downgrade is not justified because Hungary's economic performance has improved over the past 18 months and while Moody's cut Hungary's debt rating by just one notch, from Baa3 to Ba1, it moved the country from investment grade to junk status.
Just one month after the price of Gold rose to a new all-time record high there is evidence that central bank demand for the yellow metal is also at an all-time high. October saw Russia, Kazakhstan, Colombia, Belarus and Mexico add a total of 25.7 metric tons of Gold valued at $1.38 billion to their reserves. Central banks have been expanding their Gold reserves for the first time in over twenty years, while the price of Gold remains on pace for an 11th straight annual gain.
Gold purchases by central banks could reach 450 tons this year, according to Marcus Grubb, of the World Gold Council (WGC). Central banks and government institutions combined to purchase only 142 tons last year, International Monetary Fund (IMF) data show. Don't leave your assets unprotected during these times of economic and geopolitical uncertainty, invest in physical Gold and Silver bullion and protect your wealth now and in 2012.
Widely recognized Gold and Silver bullion coins and bars can be bought and sold quite readily at Morgan Gold and they can be easily stored in a safe-deposit box if needed. Did you know you can add Gold and Silver bullion to your IRA? It's true, and it's a safe and effective way to start investing, just call 1.800.585.1773 and speak to a Gold and Silver investment specialist at Morgan Gold today. Ask about our Sterling Trust Precious Metals IRA.
‹‹ news archives
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