July 2008 - GoldCore News

Gold Investments Market Update – Sir John Major and John Williams Say True Inflation at Some 10% in UK and US

Gold Gold finished trading in New York yesterday at $903.00, down $14.00 but silver was up 5 cents to $17.35. After sharp falls in early trading in the COMEX yesterday (some of which was due to large stop loss sell orders being triggered around the $900 mark) gold rose to close only down some 1.5% on the day. Silver in similar volatile trading surged from interday lows to close higher.

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Gold Investments Market Update – Never Catch a Falling Knife

Gold Gold finished trading in New York yesterday at $917.00, down $10.70 and silver was down 10 cents to $17.30. Gold rose slightly in Asian trading before falling.

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Only the fittest SMEs will survive the coming recession

Small to medium enterprises are the life blood of modern economies. In Ireland for example, up to 56% of the national workforce is employed in by Small to Medium Enterprises, that is to say companies that employ less the 250 employees and would include local industries and mom and pop business outfits. From the United States to Germany and beyond small to medium enterprises are responsible for a large component a countries transactions, employment, provision of goods and services and general day to day activities and are critical to the health of any economy. Given the increasingly uncertain economic climate critical questions must be asked – How can these critical and indigenous industries survive a rapid economic contraction – can they react to a swift fall off in demand for goods and services; do they have the management skills and Management Information Systems to not only recognise the problems but be able to formulate a cohesive response; how robust are their finances; how flexible are their employees? Concerns are growing that with the economic success enjoyed by many countries over the past ten years we have inadvertently created a weak and desperately soft underbelly – That is to say we have forgotten how to manage our business competently. Many small businesses have grown lazy and despondent and lack the management skills needed to properly navigate their business through difficult times.

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The ‘lalalalalalalalalala’ Effect

Browsing through digg this morning I notice an article titled 9 ways you can take advantage of this "terrible" economy.It's currently riding high in the digg popularity stakes with just shy of 1000 diggs. It is, I think, a great example of what I choose to call The lalalalalalalalalala Effect - named after the sound one must make

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Gold Investments Market Update – Financial and Economic Crisis Deepening as House Prices Continue to Fall

Gold Gold finished trading in New York yesterday at $927.70, up $1.30 and silver was up 8 cents to $17.40. Gold rose slightly in Asian trading before falling.

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Gold Investments Market Update – Option Markets Point to $1,200 Gold in the Coming Months

Gold Gold finished trading in New York on Friday at $928.40, up $6.00 and silver was up 12 cents to $17.34.

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Gold Investments Market Update – Swiss Central Bank Gold Sales Minimal due to Likely Increasing Demand from Sovereign Wealth Funds and Many Central Banks

Gold Gold finished trading in New York yesterday at $922.20, down 50 cents and silver was down 16 cents to $17.22. Gold has rallied in Asia and in early European trading. While oil is up slightly and the dollar is down slightly, gold is likely to be up on bargain hunting and safe haven buying.

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Gold Investments Market Update – Gold Nearing Traditional Summer Lows Prior to Rallying Strongly into Autumn – Important Charts

Gold Gold finished trading in New York yesterday at $922.70, down $25.50 and silver was down 55 cents to $17.38. Gold has rallied in Asia and in early European trading with bargain hunting buying. Traders and investors with more medium to long term horizons realise that the speed and depth of the sell off is overdone. Especially as none of the fundamental macroeconomic or geopolitical issues have disappeared or even abated.

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Gold Investments Market Update – U.S. Bankruptcy To Become A Foregone Conclusion?

Gold Gold finished trading in New York yesterday at $948.20, down $15.20 and silver was down 44 cents to 17.93. Gold continued to fall in Asia and in early European trading it is down by nearly 1.3%. Gold was due a correction after its recent surge in price and remains up some 6% in the last month (from $882 to $935) unlike oil and the majority of stock markets (which are down by similar amounts).

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Gold Investments Market Update – Gold Analysts Revise Up Gold Price Forecasts

Gold Gold finished trading in New York yesterday at $963.40, up $7.00 and silver was up 25 cents to $18.37. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%. Gold remained firm and the dollar was under steady selling pressure for much of the day yesterday and remained so overnight as markets reacted to a bounce in oil prices and a raft of dismal earnings reports from a number of leading U.S.

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Gold Investments Market Update – Deflationary Recession/Depression Versus Inflationary Recession/Depression?

Gold Gold finished trading in New York on Friday at $956.40, down $12.70 and silver fell 53 cents to 18.12. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%. Despite the very sharp fall in oil prices and other commodities last week, gold only fell by 0.2%. Silver was down by 3%. August Crude fell by more than 11% - it fell $16.34 from over $145 to $128.74. And Prudent Bear’s Doug Noland points out that August Gasoline sank 11.5% (up 27.8% y-t-d), and August Natural Gas dropped 10.2% (up 42.9% y-t-d).

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Gold Investments Market Update – George Soros Goes Long Gold

Gold Gold finished trading in New York yesterday at $957.00, down $4.00. Gold traded sideways and rose in Asia before rising in early European trading and then falling again and is now down 0.15% for the day. Equity markets have bounced on what is likely to be another short term correction on massive short covering.

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How to cure a ‘Mental Recession’

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It’s Not Your Grandfather’s Bank Run … Yet

From Wikipedia: Bank runs first appeared as part of cycles of credit expansion and its subsequent contraction. In the 16th century onwards, English goldsmiths issuing promissory notes suffered severe failures due to bad harvests plummeting parts of the country into famine and unrest.

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Gold Investments Market Update – Alan Greenspan: “Gold still represents the ultimate form of payment in the world”

Gold Gold finished trading in New York yesterday at $977.10, up $5.00 and silver was down to $18.92, down 27 cents. Gold fell in Asia before rising in early European trading. Gold rallied strongly in early trading yesterday on higher oil, a lower dollar and increasing macroeconomic and systemic risk prior to the sharp fall in oil prices (some $10 in a short period of time) which led to a selloff in precious metals. Despite the sharp selloff in oil, gold again remained resilient and finished some 0.5% higher in New York.

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Gold Investments Market Update – Sir John Major Says Government Inflation is Massively Underestimated – Real Inflation of Some 10%

Gold Gold finished trading in New York yesterday at $972.10, up $12.00 and silver was up to $19.15, up 38 cents. Gold rose in trading in Asia before further rises in early European trading. Gold is now up some 7% in the last 5 trading days (from below $920 to over $983) and in normal circumstances one would expect a correction and consolidation. However, these are not normal circumstances. Gold has rallied again on dollar weakness, oil strength and safe haven demand due to macroeconomic and systemic risk.

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Gold Investments Market Update – Trillion Dollar Bailouts Will Likely Cripple U.S. Budget and Imperil the Dollar

Gold Gold finished trading in New York on Friday at $959.10, up $18.90 and silver was up to $18.72, up 48 cents. Gold rose in trading in Asia before selling off in early European trading on profit taking due to falling oil prices and a rising dollar this morning. Both gold and silver were up nearly 3% last week on inflation hedging and safe haven buying and profit taking is to be expected. Gold and silver were up nearly 3% for the week and yet the dollar was only down some 1% and oil was essentially flat after a very volatile week.

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Gold Investments Market Update – Fannie, Freddie ‘Insolvent’ and Lehman Brothers May be Next Bear Stearns

Gold Gold finished trading in New York yesterday at $940.20, up $13.90 and silver was up to $18.24, up 17 cents. Gold rose again in the New York Globex electronic market before trading sideways in trading in Asia and it has risen sharply again in early European trading to above $950 per ounce. Gold continues to rally on the surging oil price (which is back near record highs), surging commodities and renewed weakness in the dollar. Not to mention safe haven buying on geopolitical risk in Iran. Oil is up nearly 2% again this morning after yesterday's nearly 4% surge.

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Gold Investments Market Update – S&P 500 Real Return in 10 Years is Less Than Zero

Gold Gold finished trading in New York yesterday at $926.30, up $5.40 and silver was up to $18.07, up 23 cents. Gold rose again in the New York Globex electronic market and in early trading in Asia and has remained firm in early European trading. With geopolitical risk remaining high and financial risk elevated (as seen with U.S.

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Some quotes need no further comment

The biggest disappointment of my time at the FSA has been the failure of firms, and particularly their senior management, to learn the lessons of past mis-selling. Sadly, the recent history of the British retail financial services industry is proof of the adage that those who fail to understand the mistakes of the past are condemned to repeat them.

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