Monthly Archives: June 2011

30
Jun
2011

A Greek Tragedy that Is the Euro, Bad Actors, Bad Lines and More Lies, Gold Watches on

The risk trade is on again, gold holds steady and may even be about to falter. The European Union’s Financial Cavalry have saved the world from the evil Greek mobs by lending more money yet again. ……… Don’t believe a word of it! 

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29
Jun
2011

Gold and Silver Ownership and Prices Will Not be Affected by Dodd-Frank Legislation on July 15

Gold is trading at $1,507.70/oz, €1,044.69/oz and £941.54/oz. 

Gold is higher again today as the Greek debt crisis and continuing strong demand from Asia continues to support prices. 

The euro is surprisingly firm with the U.S. dollar, Japanese yen and Swiss franc under pressure. Risk appetite remains high with commodities, Asian and European equities higher and peripheral bond markets have received a bid and seen yields fall due to optimism on the Greek vote.

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28
Jun
2011

Sterling Falls as BOE’s Posen Says BIS Talking “Nonsense” and Stagflation “Unlikely” in UK

Gold is trading at $1,501.60/oz, €1,052.35/oz and £941.09/oz. 

Gold is marginally higher in all currencies and 0.7% higher in sterling after a downward revision of UK GDP from 1.8% to 1.6% growth saw sterling decline. Stagflation appears to be taking hold in the UK with soaring food and energy costs eroding household incomes and economic growth continuing to decline.

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27
Jun
2011

Soros: “Financial system remains extremely vulnerable … We are on the verge of an economic collapse”

Gold is trading at $1,502.40/oz, €1,055.87/oz and £939.18/oz.

Gold is mixed today after last week’s 2.4% fall. The short term trend remains negative but medium and long fundamentals remain supportive as do the very challenging and risky macro, sovereign debt and currency environment. Physical buying remains strong at the $1500 level with premiums for gold bullion bars higher in Singapore and Hong Kong.

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24
Jun
2011

China Gold Association: Chinese Gold Sales to Surge Two Fold and Gold May ‘Rocket’ if Debt Crisis Spreads

Gold is lower again today after yesterday’s 2% fall in U.S. dollar terms. Gold’s fall in euros yesterday was mild due to euro weakness. Gold is marginally higher in euros today as the euro remains weak on continuing concerns about the Greek and Eurozone debt crisis. 

GoldCore

Cross Currency Rates

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23
Jun
2011

Trichet: Debt Crisis is Flashing “Red” – Marc Faber Continues to Like Gold and Silver and Accumulating

Gold is trading at $1,540.00/oz, €1,081.46/oz and £962.86/oz.

Gold is marginally lower in U.S. dollars but continues to eke out gains in euros. The euro has fallen again today possibly as markets digest Trichet’s grim warning regarding financial contagion.  Gold at €1,081.40/oz is less than 1% away from record nominal highs in euros at €1,088/oz.

Currency debasement and sovereign debt and systemic risk remains high which is leading to gold consolidating near record highs in most currencies.

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22
Jun
2011

Greeks Turn Savings to Gold and Perth Mint Silver Coin Sales Surge to Record on Haven Demand

Gold is trading at $1,544.31/oz, €1,072.96/oz and £957.30/oz.

Gold is lower in dollars but higher in euros and has reached new record highs in pounds sterling at £958.25/oz. Gold is being supported by strong and increasing demand internationally. 

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21
Jun
2011

Gold and Silver Imports in India Surge a Massive 222% – Official Inflation Surges to 8.65%

Gold is trading at $1,544.39/oz, €1,076.08/oz and £954.27/oz.

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20
Jun
2011

Gold Rises to New Record in GB Pounds – Close to Near Record Highs in Euros and Most Currencies on Global Debt Contagion Risk

Gold is trading at $1,535.85/oz, €1,080.37/oz and £950.28/oz.

Gold is being supported as default risk has increased after EU finance ministers failed to agree on a new Greek loan package. Gold priced in sterling rose to new record nominal highs this morning at £954.84/oz and the weakness of the euro has seen gold rise to touching distance (9 euros) from new record highs in euro terms at €1,088/oz.

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17
Jun
2011

Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed? Congressman Ron Paul Pressures U.S. Treasury

Gold is trading at $1,527.39/oz, €1,070.50/oz and £944.70/oz.

Gold has given up much of yesterday’s modest gains and is marginally lower in all currencies except the Swiss franc. The euro has stabilized despite continuing contagion concerns and an existential threat to the euro currency itself. 

Cross Currency Rates

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