Monthly Archives: July 2011

29
Jul
2011

IMF Chief Warns America on “Exorbitant Privilege” / Cazenove’s Griffiths Says “Essential to Own Gold” – $8,500/oz Is Possible

Gold is trading at USD 1,615.20, EUR 1,132.70, GBP 991.92 and CHF 1,293.10 per ounce. Gold’s London AM Fix was USD 1613.75, EUR 1129.76, GBP 991.67  (10:41 GMT). Gold is set to finish a turbulent July higher showing its safe haven attributes again. Gold is higher in all fiat currencies month to date and is 7.6% higher in U.S. dollars.

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28
Jul
2011

Gold Near Record USD and EUR High – Eurozone Debt and U.S. Default Risks Global Financial Contagion

Gold is marginally higher against most currencies today and is trading at USD 1,614.40, EUR 1,130.50, GBP 990.08 and CHF 1,294.50 per ounce. Gold is flat against the dollar but remains just less than 1% from the record nominal high reached yesterday ($1,628.05/oz).  The euro is under pressure again today and gold is 0.7% higher against the euro and is just less than 1.5% away from the record euro high of EUR 1,144.80/oz reached last Monday.

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27
Jul
2011

Gold New Record Nominal Highs ($1,625.70) as CDS Traders Start Positioning for U.S. Downgrades

Gold is trading at USD 1,620.40, EUR 1,120.50 and GBP 989.08 and CHF 1,298.50 per ounce. Both the dollar and the euro are under pressure again today and gold has reached another new record nominal high of $1,625.70/oz in early European trading.


Cross Currency Rates

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26
Jul
2011

Gold Seen as Less Risky Currency – Return to Gold Standard Advocated in Print and Video

Gold is marginally lower in all currencies today (USD 1,611, EUR 1,113 and GBP 983 per ounce) but remains close to record nominal highs in major currencies on U.S. and Eurozone debt concerns. With the risk free rate of return of U.S. Treasuries (Treasury bills, Treasury notes and Treasury bonds) coming into question, gold is increasingly being seen by many as a less risky asset and as a less risky currency.

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26
Jul
2011

Gold: Independent Money

Contributing editor to Money Week, Dominic Frisby, has just released an excellent video – ‘Gold: Independent Money’.

A picture paints a thousand words and a video hundreds of thousands of words and this is a very informative video about our modern monetary system, fiat currencies and gold. It shows how fiat money has led to wars, massive debt, social inequality, economic bubbles, rampant consumerism, and environmental destruction.

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25
Jul
2011

Gold Surges in Asian Trading to Record Nominal High on Washington Theatre and Dollar Debasement

Gold is trading at $1,617.75/oz, €1,126.49/oz and £993.46/oz. 

Gold surged 1.4% ($23) from $1,600.90/oz to a new record nominal of $1,624.07/oz within an hour of the open in Asia. Gold reached new highs due to continuing uncertainty and theatre regarding the debt ceiling negotiations in Washington. Gold is higher in all currencies except the Swiss franc as the Swiss currency is also continuing to see flows.

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22
Jul
2011

EU Debt Restructuring Leads to Bailout Euphoria / Silver to Double to $100 Says Citigroup

Bailout euphoria has returned to markets with Asian and European stock indices rising on renewed risk appetite. 

Gold has recovered from yesterday’s slight sell off (0.6% in USD) and the firm gold price in all currencies suggests that market euphoria is again misplaced. Gold is down only 20 euros per ounce in the last 24 hours. Gold is trading at USD 1,596.10, EUR 1,108.1, GBP 978.50 and CHF 1,310.10 per ounce.

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21
Jul
2011

Gold “Fever” in Asia and Central Bank Demand Could Cause an “Earthquake” in the Gold Market

Gold is trading at $1,599.41/oz, €1,127.77/oz and £989.06/oz. 

Gold is mixed against various currencies today but is higher in euros after the euro has fallen on concerns that European leaders gathering for the summit in Brussels may not be able to resolve the Eurozone’s debt crisis and prevent contagion in the financial system.

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20
Jul
2011

Gold to Rise on $14.3 Trillion U.S. Debt Limit Increase– Bloomberg Chart of the Day

Gold is trading at $1,587.56/oz, €1,115.72/oz and £983.31/oz. 

Gold is flat in U.S. dollars and New Zealand dollars but marginally lower in most currencies today as increased risk appetite has seen risk assets rally despite poor fundamentals. Most Asian indices were higher, except the Chinese and Indian markets, and European indices have also risen. 

Gold is trading at USD 1,587.00, EUR 1,116.1, GBP 983.50 and CHF 1,302.10 per ounce.

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19
Jul
2011

Gold to Correct after Front Page Financial Times Article? Gold in 2011 vs the 1970s and 1979

Gold is trading at $1,604.10/oz, €1,132.20/oz and £995.66/oz. 

Gold has fallen in most currencies today and is trading at USD 1,603, EUR 1,130, GBP 995 and CHF 1,315 per ounce. Gold is 0.3% higher in Swiss francs again today after the last two weeks of deepening turmoil saw gold rise in the Swiss franc.


Cross Currency Rates

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