MARKET UPDATE Today’s AM LBMA Gold Price was USD 1,204.55, EUR 1,113.83 and GBP 801.86 per ounce. Yesterday’s AM LBMA Gold Price was USD 1,204.60, EUR 1,131.19 and GBP 811.40 per ounce. Gold fell 0.29 percent or $3.50 and closed at $1,199.00 an ounce on yesterday, while silver rose 0.18 percent or $0.03 closing at […]
– “Renewed global property bubble” warned of by Financial Times – Research company MSCI says returns on property last year averaged 9.9% globally – “Best performance” since 2007 and fifth consecutive annual rise – Rents have not increased in line with asset appreciation – Speculators moving into more risky peripheral markets around the major hubs […]
– Fall 2015 turning point – civil unrest and riots globally says forecaster Armstrong – Fed have to raise rates – due to pressure from congress and media – By 2020 the cost of servicing U.S. debt will outpace defence spending – European banks will collapse and “blood in the streets” – Higher rates will […]
– Greek government to withhold IMF payments according to the FT – Prime Minister Tsipras denies preparing for default according to Reuters – Government funds to run out by end of month – Default would likely lead to “Grexit” and return to drachma – EU may not withstand uncertainty surrounding break-up of monetary union – […]
– One week on and police appear no nearer to catching those responsible – Crime only seems more audacious with every new detail that emerges – CCTV has given tantalising glimpse of the six men who went into vaults – Many victims of Hatton Garden robbery had all their wealth uninsured in safe deposit boxes […]
– Negative Interest Rates and Rising Interest Rates Positive For Gold – HSBC suggests negative rates may drive customers out of digital and into holding paper cash – ZIRP and NIRP very positive for gold – Rising U.S. rates not negative for gold due to emergence of China, India, Middle East and EMs – When […]
– Austria will remove state guarantee of bank deposits – Austrian deposit plan given go ahead by the EU – Banks to pay into a deposit insurance fund over 10 years – Fund will then be valued at a grossly inadequate €1.5 billion – New bail-in legislation agreed by EU two years ago – Depositors […]
– Chinese Success in Attracting Major Western Countries to New Bank Marks Beginning of New Era – Diverse members include UK, Israel, Germany, Australia and Russia and Iran – Demonstrates the degree to which U.S. global influence is declining – U.S. needs to reform its approach to IMF and World Bank system if it to […]
– Ex-Prime Minister warns uncertainty would hit UK economy and cause ‘chaos’ – ‘BREXIT’ would cause the “most intense period of instability” since WW2 – Seeks to portray Tory policy as disingenuous and cynically putting economy at risk – Uncertainty caused would have negative consequences for British economy and sterling Tony Blair has entered into […]
Inflation fears have caused a surge in Russian demand for gold jewellery Currency depreciation and falling wages weighing on average Russians Classified ad websites booming as Russians try to raise cash Ruble has fallen more than 35% against gold in recent months Ruble today … other fiat currencies tomorrow Gold in Russian Ruble – 1 […]