Gold Blog

New Gold Fix In March as Western Banks Joined By Chinese Banks

Replacement for the near-century-old London gold fix will start in March London gold fix to Shanghai gold fix – still not transparent Stealth run on the London bullion market continuing? Oil surges 11%; deflation deepening Increasing signs of a slowdown of the U.S. economy is supporting gold The overhaul of the gold fixing benchmark formally […]

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Gold Surges 16 Per Cent In Euro In January – As Eurozone Debt Crisis Reignites

In January, gold surged 8 per cent in dollar terms, 11 per cent in pound terms and a very large 16 per cent in euro terms. January’s 8.4% gain for gold in dollar terms was the best month in terms of price gains in three years. Thus once again, gold bullion performed its role as […]

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Greeks Turn to Gold on Bank Bail-in and Drachma Risks

The Greek stock market is down 36% year to date; the risk of global contagion in the event of a Greek exit is very real. Ordinarily such a crisis would require a massive coordinated effort from global stakeholders, perhaps directed by the IMF or some other pan-national financial body. But not in this case; the […]

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EU Threatens Sanctions on Russia as War in Ukraine Intensifies, Greece Pivots to Russia

EU foreign ministers are meeting in Brussels today to discuss imposing further sanctions on Russia following an upsurge in fighting in east Ukraine.

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Cyber War Poses Risks To Irish Banks – Savings and Deposits

Cyber Attacks Growing In Frequency – Entire Western Financial System Is Vulnerable The threat posed by cyber war to our increasingly complicated, technologically dependent and vulnerable financial institutions, markets, banks and indeed deposits becomes more clear by the day. British and US agents will carry out a mock cyber attack or ‘cyber war games’ on […]

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Currency Wars – Russia Buys 20.7 Tonnes Of Gold In December; Netherlands Refutes IMF Gold Data

UPDATE: Since we published our blog this morning, the Dutch central bank has denied that it added to its gold reserves in December. De Nederlandsche Bank, the Dutch central bank has denied reports in Reuters, Bloomberg and picked up by GoldCore, that the bank had increased its gold holdings for the first time in sixteen […]

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Risk of New Euro Crisis After Syriza Victory In Greece

The crushing victory of the Greek opposition party Syriza in yesterday’s Greek elections has added to jitters in already jittery financial and foreign exchange markets. The euro tumbled and gold in euros surged to its highest level since April 2013, at €1,167.94/oz as markets opened in Asia. The euro has since stablised but remains near […]

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QE…D: Why Printing Money will end badly for Ireland

You may have heard the news, the European Central Bank have started up the printing press. They are soon to print upwards of €60 Billion a month. The crowds of economic pundits have collectively cheered. Ireland stands to enjoy significant near term benefits, but at what cost? They speak of lower government borrowing costs for […]

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Euro Gold Surges As ECB 1 Trillion ‘Bazooka’ and Greece Has Election

Stocks, bonds and precious metals surged yesterday as markets cheered the latest wave of money printing on a grand scale. Gold surged 3 per cent in euro terms (see chart below) after Mario Draghi in the ECB announced a massive quantitative easing or QE programme of over EUR 1 trillion from March 2015 to September […]

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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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Gold Surges 3% After U.S. Fed’s First Emergency Rate Cut Since 2008

◆ Gold surges 3% and has largest daily gain since June 2016 as the Fed delivers a surprise emergency rate cut, the first since 2008 ◆ Gold has gained over 10% in dollars and by more in other currencies so[...]

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BIS Warns of ‘Major Faultlines' In Global Debt Bubble

  - BIS warns "unrealistic and dangerous to expect that monetary policy can cure all the global economy’s ills" - Bank of International Settlements warns that recent turmoil is not caused by isolated incidents - Debt levels are now so[...]

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