- Lonmin Workers Walk Out To Protest Shooting Of Union Member
May 14 2013 3:46 PM
National Union of Mineworkers believes the strike against Lonmin is in reaction to the killing of a veteran worker from its rival union.
- Chinese 'Grannies' To Leave Sale Of Their Gold To Their Children
May 14 2013 12:54 PM
Talk about buy-and-hold: Chinese "grannies" appear to have the world's longest time horizon when it comes to gold investing.
- European Union Likely to ‘Bail In’ Large Depositors
May 14 2013 9:07 AM
The European Union will today meet to discuss and move forward the proposal to ‘bail-in’ depositors with savings of over €100,000 as part of future bank wind-downs. It now looks likely that the EU is going to take unprecedented steps to sequester monies from its citizens in the event of future bank failures.
- Gold Prices to Re-Test $1350/oz
May 14 2013 8:25 AM
- When Will Gold Bull Resume?
May 13 2013 3:34 PM
While Gold has seen a decent rebound, Silver and the mining shares (the more speculative side of the complex) have failed to sustain any rebound despite tremendously supportive sentiment amid an extreme oversold condition. Is the failure to rebound bearish? Not really. This is a sector that is completely sold out but there are yet to be enough buyers to generate a sustained rebound. The combination of strength in conventional asset classes (stocks and bonds) and poor performance over the past two years is causing this sector to read like the heart rate monitor of a heart patient. The sellers are gone and the buyers are scant. We believe the bottom is in and a rebound should begin very soon. However, we are more concerned with what will be the driving force for a sustainable rebound which will evolve into a new cyclical bull market.
- Three Reasons to Buy Gold Equities Today
May 13 2013 12:33 PM
That’s why I often say to anticipate before you participate, because gold stocks are historically twice as volatile as U.S. stocks. As of March 31, 2013, using 10-year data, the NYSE Arca Gold BUGS Index (HUI) had a rolling one-year standard deviation of nearly 35 percent. The S&P 500’s was just under 15 percent. I believe the drivers for the yellow metal remain intact, so for investors who can tolerate the ups and downs, gold stocks are a compelling buy. Here are three reasons:
- China’s Consumption of Gold and Acquisition of Gold Mines Continues
May 13 2013 8:53 AM
Driving the sentiment was the report that U.S. jobless benefits decreased to their lowest rate since 2007. Philadelphia Fed President Charles Plosser forecasted that day unemployment will drop to 7% by December 2013 and he favours reducing the Fed’s $85 billion monthly bond purchases next month. Plosser however has no vote on Fed policy this year.
- Gold Decreases, What Does it Mean for Mining Companies?
May 13 2013 8:48 AM
That was until it reached its peak in September 2011 at more than $1,900 an ounce. Compare that to April 15th when prices of gold came crashing down to less than $1,400 an ounce and you’ve got yourself a predicament.
- Abenomics Brings Currency Wars to G7 Talks
May 10 2013 8:52 AM
As the global economic slump continues central bankers, such as Mario Draghi, and politicians have vowed “to do whatever it takes” to get economies back on track. Such policies while having near term benefits are considered extremely risky in the longer run by many commentators as they could beckon runaway inflation or stagflation, with ruinous results.
- Is Mr. Buffet Right about not Holding Gold?
May 09 2013 1:26 PM
Who is Warren Buffet? He’s ‘Yoda’ of the financial world. He is a man brilliantly skilled at making profits with considerable expertise in the U.S. economy and its corporations.
- Lear Capital: Is There Any Among You That Can Challenge the Claim – GOLD WILL DOUBLE AGAIN!
May 09 2013 8:57 AM
I overheard a conversation in the gym last night wherein the comment was made, “The Dow is up from a low of 6500 because of administration policies.” The comment was made in reference to the Dow breaking 15,000, in the context of a recovering economy and in support of the administration. I refrained from making any comment of my own and to instead vent here where readers have the same right to discard my opinion and stop reading just as I stopped listening.
- Gold Stabilizing now $1,467.60/oz
May 08 2013 3:37 PM
Despite falling yesterday, gold once again soared, gaining $18.80 to $1,467.60 according to the New York Mercantile Exchange. The price of gold generally increases when the U..S. dollar decreases and this happened this morning as the U.S. dollar fell in value compared to other currencies such as the euro and pounds.
- India Aims to Restrict Gold Imports As China Breaks New Records
May 08 2013 9:14 AM
Gold rose $17.90 or 1.22% yesterday to $1,452.00/oz and silver finished down 0.29%.
- Foreign Financial Reporting of U.S. Citizens Coming. Will it Include Gold?
May 07 2013 8:22 AM
Since the start of the credit crunch in mid-2007 we have seen a steady move forward by government to place greater control over the financial aspects of people’s lives. One of the biggest milestones from an investor’s point of view has been the establishment of the Foreign Account Tax Compliance Act (FATCA). This is consistent with the intentions expressed by President Obama that U.S. Citizen’s financial successes at home and abroad should be subject to U.S Taxation so that the U.S., as a nation, can benefit. The Patriot Act was the first to employ this approach but now we are moving several steps forward from these measures.
- Lear Capital: Wall Street Gold Speculators Caught with Shorts Down
May 03 2013 9:00 AM
On April 10, Goldman Sachs came out with a recommendation to short gold. On April 23, Goldman closed the recommendation. What kind of financial advice is good for just 9 business days? Truth be told, the recommendation contributed to a rapid decline in the gold price. A decline promptly met by record demand for physical gold. OOOPS!
- Goldman Sachs Vs. Chinese 'Grannies'
May 02 2013 3:24 PM
China's "granny effect" trumps the investment advice of Goldman Sachs.
- Peter Schiff - THE GREAT GOLD REDEMPTION
May 02 2013 10:10 AM
The most puzzling part of the investment business is seeing how the vast and largely economically illiterate masses interpret any given piece of news. Take the recent gold selloff: many large players were motivated to sell by news that Cyprus will have to liquidate its gold stockpiles to pay off acute debt obligations. But just a moment's reflection shows this reaction to be knee-jerk.
- China Gold Mania - Coins, Bars and Jewelry Sales Surge 108%
May 02 2013 8:47 AM
Gold fell $17.30 or 1.17% yesterday to $1,458.70/oz and silver slid to $23.24 and finished down 2.60%. Gold remains under pressure despite very robust demand and anaemic supply globally. This suggests that speculators in the futures market continue to hold the upper hand. While this may continue in the short term and lead to further short term weakness in the price, the long term supply demand fundamentals will almost certainly lead to higher prices. We continue to believe gold will surpass its real inflation adjusted high of $2,400/oz in the coming years.
- Gold Mine Collapse Kills More Than 60 In Sudan's Darfur Region
May 02 2013 8:14 AM
Rescuers are reportedly using traditional tools to try to reach victims, but they're unsure whether there are more people trapped.
- “They Don’t Want Certificates, They Want the Real Product” - CME President on Gold
May 01 2013 10:11 AM
Today’s AM fix was USD 1,469.50, EUR 1,113.60 and GBP 942.95 per ounce. Yesterday’s AM fix was USD 1,472.75, EUR 1,126.13 and GBP 950.04 per ounce. Gold climbed $5.60 or 0.38% yesterday to $1,476.00/oz and silver finished down 0.27%.