| 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
Gold Extends Gains As Finance Ministers Gather In Brussels
November 29, 2011
By James O'Dell
Los Angeles, CA. – Morgan Gold - The Gold price continues to consolidate as it trades higher this Tuesday morning at $1,715.40 an ounce, extending Monday's rally, while Silver is trading slightly lower at $31.97 an ounce. Gold's safe haven demand is being reflected by the increase in purchases of Gold bars and coins, says Anne-Laure Tremblay, precious metals strategist at BNP Paribas. Tremblay goes on to say the sell-off in Gold holdings may have occurred in the over the counter market, which is dominated by institutional participants.
“The decline in exposure to Gold may be linked to large-scale, cross-asset liquidation. Notably, Gold holdings may have been sold to meet losses elsewhere,” says Trembley. This is common during periods of extreme risk aversion she says, and that risk aversion may be higher today than it was in 2008. Despite the corrective episodes, Gold has still outperformed both equities and industrial commodities since July 2011, suggesting it continues to attract buying interest, she says.
Meanwhile, Fed Vice Chairman Yellen, speaking at a San Francisco Fed conference on Tuesday, said the central bank still has further latitude in which to aid the U.S. recovery and reduce unemployment by purchasing more assets and making clear its plan to sustain its near zero borrowing costs. “We at the Federal Reserve are moving vigorously to promote a stronger economic recovery,” the policy maker said. “However, monetary policy is not a panacea, and it is essential for other policy makers to also do their part.”
The Vice Chairman's remarks suggest that the Fed is likely to ease policy further, in coming months. In the eurozone, "Italy has lost control of its fate and its future now lies with the European Central Bank, International Monetary Fund, France and Germany," says Jeffrey Sica, president of SICA Wealth Management, while finance ministers gather today in Brussels, to discuss options for leveraging the European Financial Stability Facility (EFSF).
Officials are saying the EFSF leveraging mechanisms could be operational by January, but that may turn out to be too little too late. 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
Los Angeles, CA. – Morgan Gold - The Gold price continues to consolidate as it trades higher this Tuesday morning at $1,715.40 an ounce, extending Monday's rally, while Silver is trading slightly lower at $31.97 an ounce. Gold's safe haven demand is being reflected by the increase in purchases of Gold bars and coins, says Anne-Laure Tremblay, precious metals strategist at BNP Paribas. Tremblay goes on to say the sell-off in Gold holdings may have occurred in the over the counter market, which is dominated by institutional participants.
“The decline in exposure to Gold may be linked to large-scale, cross-asset liquidation. Notably, Gold holdings may have been sold to meet losses elsewhere,” says Trembley. This is common during periods of extreme risk aversion she says, and that risk aversion may be higher today than it was in 2008. Despite the corrective episodes, Gold has still outperformed both equities and industrial commodities since July 2011, suggesting it continues to attract buying interest, she says.
Meanwhile, Fed Vice Chairman Yellen, speaking at a San Francisco Fed conference on Tuesday, said the central bank still has further latitude in which to aid the U.S. recovery and reduce unemployment by purchasing more assets and making clear its plan to sustain its near zero borrowing costs. “We at the Federal Reserve are moving vigorously to promote a stronger economic recovery,” the policy maker said. “However, monetary policy is not a panacea, and it is essential for other policy makers to also do their part.”
The Vice Chairman's remarks suggest that the Fed is likely to ease policy further, in coming months. In the eurozone, "Italy has lost control of its fate and its future now lies with the European Central Bank, International Monetary Fund, France and Germany," says Jeffrey Sica, president of SICA Wealth Management, while finance ministers gather today in Brussels, to discuss options for leveraging the European Financial Stability Facility (EFSF).
Officials are saying the EFSF leveraging mechanisms could be operational by January, but that may turn out to be too little too late. 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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