Gold Blog

ECB To Print Trillion Euros – Gold Vulnerable Short Term But Euro Vulnerable in Coming Months, Years

Mario Draghi is preparing to unveil QE today as the ECB looks certain to announce it’s much anticipated quantitative easing (QE) programme. The move to print up to €1 trillion euros in the coming months appears to be a fait accompli although it will occur against a backdrop of strong German resistance and many concerns. […]

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The Next Wave of Recession is Building

By Chris Sanders of Sanders Research Associates Limited www.sandersresearch.com Oil is down for good reasons The collapse in the price of oil over the last six months or so is widely misunderstood. Many  observers have thought that it is a fall orchestrated by producers – take your pick – to hurt other  producers – again, take […]

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SNB Shock Was Gold’s ‘Icing On Cake’ Ahead of ECB QE

Is gold a safe haven? Mark O’Byrne, executive and research director at GoldCore, told CNBC yesterday that yes it is. He said that the Swiss National Bank’s recent decision was “icing on the cake” for gold and shows how gold thrives in a volatile environment. Interview: CNBC’s Seema Mody: Given the lacklustre performance of gold […]

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Businesses Suffer Enormous Damage from Shock SNB Swiss Franc Unpegging Move

Although the extent to which the surprise move by the Swiss National Bank last week has damaged financial institutions will not be apparent until the end of the month, it is already clear that enormous damage has been wreaked on many businesses exposed to the foreign exchange markets. GoldCore has seen significant increase in gold […]

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Bundesbank Announces Repatriation of 120 Tonnes of Gold from Paris and New York Federal Reserve

The Bundesbank, Germany’s powerful central bank, announced very publicly this morning the further repatriation of some of it’s gold being held in foreign locations – namely in Paris and New York with the Bank of France and the Federal Reserve. “The Bundesbank successfully continued and further stepped up its transfers of gold,” the central bank […]

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Ukraine Lurches to Full Scale War – Threat That Russia Drastically Reduces Gas Supply to EU

Ukraine lurched back toward full-scale conflict today as troops loyal to the new Ukraine government battled with pro-Russian forces for control of an eastern airport. Ukraine said yesterday that cease fire violations have surged to a new record, while the nation’s security council warned the unrest may spark a “continental war” and German Chancellor Angela […]

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Market Chaos as Swiss Franc Surges 30% In 13 Minutes, Gold Rises Sharply

Chaos was seen in financial markets today as participants were thrown a curveball when Switzerland surprised the world by removing its three-year cap on the Swiss franc, unpegging it from the euro. This sent the undervalued currency soaring and Europe’s shares and bond yields tumbling. In just 13 minutes, from 0930 to 0952 BST, the […]

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Oil Collapses and Copper Crashes 8% in Day – Great Recession Cometh?

Oil prices fell another 1 per cent this morning  and continue their collapse – down 57% in just over 6 months. Copper crashed 8% on the London Metal Exchange, plunging to 5 and a half year lows. Oil fell to fresh six-year lows and has fallen almost 60 per cent since June 30, 2014 to […]

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Gold In Euros Up 7.2% In 2 Weeks – Surges Over EUR 1,050 Per Ounce

Gold priced in euros surged through the €1,050/oz barrier to a high of €1,052.04 per ounce this morning. It’s up 7.2% this month, outperforming gold in dollars which is up 4.8%, and building on the 12% gains seen in 2014. Market participants are increasing allocations to gold in order to hedge a ‘Grexit’ and risks […]

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Gold Prices Rise on Unexpected Fall in US Hourly Earnings

Today’s AM fix was USD 1,222.00, EUR 1,035.77 and GBP 808.09 per ounce. Friday’s AM fix was USD 1,211.25, EUR 1.025.09 and GBP 799.61 per ounce. Spot gold climbed $13.20 or 1.09% to $1,220.50 per ounce Friday and silver rose $0.15 or 0.92% to $16.46 per ounce. Gold and silver both performed strong last week […]

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