by Jan Skoyles I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money. Source: […]
* Greek Bank Runs Accelerate as Possible ‘Grexit’ Looms * Fatigue with Greek Crisis Breeding Massive Complacency * Government in Kiev Forced to Take Diplomatic Approach * Ukraine a Significant Setback for NATO * Regional War in Eastern Europe Averted for the Moment * Middle East, Israel and Iran Timebomb Ticking * India Demand To […]
Newstalk interviewed GoldCore’s Mark O’Byrne this morning about the investment asset that is not well understood – gold. The interview began with Nick Bullman of Newstalk asking Mark to explain the poor performance of gold in recent years as it has underperformed since 2008. Click here to listen Gold prices rose every single year from […]
– Sophisticated “Ocean’s 11” style heist is one of the largest in history – Hackers remotely accessed bank computers to manipulate accounts and A.T.M.s. – Banking groups make no comment – Details expose incredible systemic vulnerability An international group of cyber criminals have stolen at least $300,000,000 from over 100 banking and financial institutions in […]
– Diplomats best hopes for Minsk is for freeze in hostilities – Russia engages the U.S. in war of words as tensions mount – Greece and EU buy time – no agreement thus far – Anti-austerity parties in Spain and Greece may bring down the euro The Minsk Summit which was called at the urgent […]
– Merkel and Hollande to attend peace talks in Belarus to resolve Ukraine’s civil war today – US and UK not invited – Germany and US present united front but tensions ripple under the surface – Foreign Minister of Greece, Nikolaos Kotzias, to meet his Russian counterpart Sergei Lavrov today as the crucial Eurogroup of […]
– Tsipras to push ahead with counter-reforms “in their entirety” – Dijsselbloem tells Syriza it must comply with Troika this week or have funding cut from February 28th – Varoufakis calls the Eurogroups bluff – does not believe EU would risk expelling Greece from Euro – US apply pressure on EU to keep Greece in […]
– Chinese imports, primarily of raw materials, crashed 19.9% in January – Exports fall 3.3% against expectations of 6.3% rise – Total Chinese debt rose from $7.4 trillion in 2007 to $28.2 trillion in 2014 – Capital outflows last quarter were the highest on record – China may devalue yuan to boost exports – Currency […]
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 stablized but remains near […]
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 unveiled QE yesterday as the ECB looks certain to announce its much anticipated quantitative easing (QE) program. The move to print up to €1 trillion euro in the coming months appears to be a fait accompli although it will occur against a backdrop of strong German resistance and many concerns. Listen Following leaks that mainstream […]
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 […]
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 percent 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 percent since June 30, 2014 to levels last […]
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 […]