Category: Gold Cyprus ECB IMF EU Savings Deposits Confiscation


Savings Confiscation Risks ‘Bank Runs’ – Highlights Importance of Owning Gold

Today’s AM fix was USD 1,599.50, EUR 1,236.09 and GBP 1,057.45 per ounce.
Friday’s AM fix was USD 1,593.25, EUR 1,219.39 and GBP 1,051.23 per ounce.

Gold rose above $1,600/oz for the first time in more than two weeks on news of the savings confiscation in Cyprus. The euro fell against all currencies and particularly gold. Gold in euro terms rose 1.8%, from €1,218/oz at the close on Friday to €1,240/oz in trade late this morning.

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