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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]