Gold News

Oil Surges, Gold and Silver Spike as Saudi Arabia Bombs Yemen

– Geopolitical tensions in Middle East escalate dramatically as Saudi Arabia bombs Yemen – Yemen’s government seized power in coup – Regarded as hostile to Saudi and ally of Iran – Saudi attack is an escalation of Middle Eastern proxy war between Gulf States and Iran – Action has broader geopolitical implications in deepening cold […]

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Gold Rises For Fifth Day – 2 and Half Week High

Today’s AM fix was USD 1,192.55, EUR 1,088.89  and GBP 801.18 per ounce. Yesterday’s AM fix was USD 1,193.25, EUR 1,085.56  and GBP 798.96 per ounce. Gold rose  0.26 percent or $3.10 and closed at $1,193.70 an ounce yesterday, while silver slipped 0.35 percent or $0.06 at $17.00 an ounce. Gold inched downward after its […]

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HSBC Not Closing Gold Vaults – Safety Deposit Boxes of Clients‏ Being Closed

– Rumours that HSBC is closing gold vaults – HSBC closing down safety deposit box facilities in vaults in branches – Banks internationally closing boxes as not profitable and move to “cashless society” – Incorrect speculation that HSBC move forcing gold clients to sell bullion – Speculation understandable given poor communications from HSBC and manipulation […]

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Greece and EU Running Out of Time – Bank Runs Intensify, Bail-Ins Likely

– EU and Greece running out of time as talks end “in disarray” – again – Greece warns Merkel of ‘impossible’ debt – Concerns Greece out of money by end of April – Friday’s “agreement” in Brussels falls apart hours later as protagonists fail to agree on specifics – Greece now insolvent – will run […]

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Gold Downside $850/oz; Upside Jump to $2,000/oz on ‘Grexit’

-Capital Economics chart-based analysis sees gold ending year higher at $1,400 per ounce -Sees a remote possibility of gold falling to $850 per ounce -A “Grexit” may cause gold to surge to $2,000 per ounce Julian Jessop from Capital Economics has written an interesting short piece on the company’s expectation for gold prices. It analyses […]

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Gold Surges – Fed Loses “Patience” and Signals Loose Monetary Policies to Continue

– Gold rose over 2% – Fed signals ultra loose monetary policies to continue – Fed dampens expectation of a rate hike in June – Yellen no longer “patient” – notes weakness in recent US economic data – Fed knows that fragile, debt laden U.S. economy cannot handle higher rates – Despite recent dollar strength, […]

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Gold Price to Surge Over $2,400 Per Ounce – Doubling Asian Demand in “Asian Century”

– Gold price set to soar to new records in ‘Asian century’ – Gold price to double by 2030: ANZ – Gold to exceed $2,400 per ounce – Gold demand in Asia set to double – “Greater demand from investors and central banks will see gold prices rise materially over the long-term” – “Most of […]

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Happy Saint Patrick’s Day

Happy Saint Patrick’s Day Wishing you health, wealth, good luck and good fun this Saint Patrick’s Day from all the team in GoldCore May your home be filled with laughter  May your pockets be filled with gold And may you have all the happiness Your heart can hold GoldSaver Account allows anyone to buy and […]

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Irish Finance Minister Dumps Stocks to Buy Gold

– Ireland’s Minister of Finance shifted personal wealth out of stocks and into gold – Minister invested in SPDR Gold Shares ETF, Portuguese government bonds and other ETFs – Maintained holdings in bank and agricultural commodities ETFs – Gold ETF not a safe haven asset – much unappreciated counterparty risk The Minister for Finance in […]

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Gold Up 11% Euro This Year As Currency Wars Intensify

Gold has risen 11% versus the euro in 2015 Builds on 12% gains against the euro in 2014 Sentiment poor despite reasonable performance Gold performing well considering significant gains in stocks and dollar Dollar centric view misleading Currency wars intensifying Complacency and hubris rife Gold rose 12% against the euro in 2014 and so far […]

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Deutsche & Santander Fail ‘Stress Tests’ – Risk of Bail-Ins

– Largest banks in Germany and Spain fail Federal Reserve’s ‘stress tests’ – Stress tests designed to assess whether lenders can withstand another financial crisis – U.S. subsidiaries fail Fed stress tests on ‘‘widespread and critical deficiencies’’ in identifying risks – Deutsche and Santander bank fail on “qualitative” grounds – 28 out of 31 banks […]

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Apple Gold Demand – Bloomberg View Misrepresents GoldCore

Bloomberg View misrepresents our widely read Apple gold demand article CNBC quoted extensively and favourably from Gilbert quoted selectively from our piece – Misrepresenting “gold bugs” Silly gold ‘bug’ name calling shows bias against gold and towards stocks  “Gold bugs” and “stock roaches” can peacefully coexist In these uncertain times diversification is what remains vitally […]

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‘BREXIT’ Poses Risks To Sterling Assets – UK Stocks and London Property

Political uncertainty beginning to impact bond and property markets UK bonds and stocks at all time record highs and ‘bubbly’ FTSE looks overvalued and ripe for sharp correction “Air of caution in the run-up to the general election” hits London property City of London has most to lose from Brexit Brexit may isolate UK – […]

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Currency Wars Continue As IMF Concedes End To Dollar Hegemony

– Dollar has declined as reserve currency over past decade from 70% of global reserves to 61% – Chinese yuan is growing in stature as international currency – IMF deputy director calls for de-dollarization in emerging markets – Many countries have begun de-dollarizing – BRICS development bank – rivaling the IMF and World Bank – […]

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Apple Major New Gold Buyer – Propel Gold Higher?

– There is a major new buyer in the gold market – Apple – New Apple watch could use up to one third of total annual gold supply – Apple expects to sell one million gold watches per month – Each watch to use up to two ounces of gold – May have enormous ramifications […]

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“Cyber Security Loophole”- Bank Hackers “Unfettered Access” To Accounts

– Bank accounts at majority of banks in Britain and Ireland are vulnerable to hacking says Financial Times  – Two-step authentication process used by most banks is inadequate  – Vulnerabilities identified similar to those that were used by hackers to steal up to $1 billion across Eastern Europe  – UK regulator says bank customers must […]

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Canada’s Central Bank Requests End To Defacing of Debasing Canadian Dollar

– From “Spocking” in Canada to overtly political imagery in Greece, paper currency is growing in popularity – Outpouring of affection for Leonard Nimoy has inspired the phenomenon of “Spocking” in Canada – Greek artist Stefanos alters euro notes to deliver a political message – Defacing notes is illegal and a criminal offence in the […]

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Bondholders “Bailed In” In Austria – EU Bondholders Today, U.S. Depositors Tomorrow?

– Auditors find €7.6 billion hole in Austria’s “bad bank”, Heta Asset Resolution AG – Austria’s government says it will not give Heta “a single euro” – Emergency legislation passed last month means bondholders to be bailed in – Risk of contagion high as other banks may hold Heta bonds – “Bail-in is now the […]

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Gold Demand in U.S., Europe – Reuters Interview GoldCore

Jan Harvey thomsonreuters.com We were hearing quite a bit about rising physical demand in Europe earlier this year, as a confluence of factors (euro zone QE, SNB scrapping franc peg to euro, Greek election outcome) came together to support buying. Here to discuss how that has developed in February is Mark O’Byrne, executive director of […]

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Gold Sovereigns Bought by Greeks in Volume as New Greek Drachmas Designed

– Greece warns may default on IMF loan next week – Greek bank runs continue and deposits flee – German Bundestag votes for bailout extension – Syriza agree to a bailout extension of four months, in return for concessions yet to be approved by the EU – Questions over Syriza negotiating a weak deal despite […]

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