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 […]
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 […]
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 […]
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 […]
Introduction Gold – Positives and Negatives Ultra Loose Monetary Policies Globally Risk of Bail-Ins in 2015 and Beyond Currency and Gold Wars Eurozone Debt Crisis Again – ‘Grexit’ and ‘PIIGS’ Global Debt Crisis II – Total Global Debt to GDP Ratio Over 300% $1 Quadrillion “Weapons of Mass Destruction” Derivatives Cold War II and New […]
The savage attacks on the satirical magazine, Charlie Hebdo, in Paris leaving 12 dead yesterday shows how vulnerable western societies and economies are to the twin threats of terrorism and war. The attacks pose threats to our already under attack freedoms – freedom of the press, freedom of privacy, freedom of religion, freedom of conscience, […]
2015 has not started well for bitcoin with prices having fallen 12%, from $320 to $288. The cyber attack on a leading bitcoin exchange is the latest challenge for the fledgling digital currency. Bitstamp, Europe’s leading bitcoin exchange – and third largest globally – has been off-line following a breach in their system by hackers […]
With Greeks going to the polls to elect a new government in just over two weeks, concerns over a potential Greek exit or ‘Grexit’ from the euro is growing and this has led to the euro falling against the dollar and particularly gold. Speculation as to the consequences of a Syriza victory has caused the […]
At the start of the New Year, there are increasing signs that the recovery seen in property prices in many cities in western countries – namely Dublin, London and other UK cities and New York and other U.S. cities is beginning to peter out. Many cities have seen speculative frenzies return in recent months which […]
Contents: – Gold Second Best Currency In 2014 – Higher In All Currencies Except Dollar – Silver Falls Despite Robust Demand – Stock and Bond Performance In 2014 – Oil Prices Collapse; Energy, Copper, Sugar Fall; Coffee Surges – Regulatory Authorities Confirm Gold Rigging – Another Year Of Paper Selling While Physical Demand Robust – […]