Gold News
Forget Europe, it’s only a matter of time before Greece defaults and the rest of the over-levered countries follow suit. Also forget the US, again it’s only a matter of time before that too faces reality and the can-kicking stops. Where the world’s eyes should be firmly fixed right now is China. Whilst the Western [...]
As the gold price looks to stabilise around the $1600 level, after the drop in the gold price last week, we get news that China is getting in on the gold ATM game. China joins the growing list of countries that have gold ATMs: Abu Dabi USA Switzerland Austria Germany UK Whilst using these ATMs [...]
Yesterday we wrote a piece looking at the 20% sell-off in dollar terms in gold. We noted that the 150 daily moving average (DMA) had been a pretty good level of support for $ gold since 2009. But when it comes to £ gold the 200DMA has been a much better indicator of support over [...]
Back in May of this year we wrotean article about a chap named Alf who has single handedly been panning for gold in the Lake District of England for 40 years. We mentioned it at the time because the interesting bit was that Alf had seen more and more people join him in the quest [...]
I wrote the following essay yesterday for TheStreet.com. Yesterday the U.S. Federal Reserve delivered no real surprises. Its new policy was expected by the market and those members of the public who still follow the central bank’s every move with interest and, I can only assume, in the misguided belief that it has the answer to [...]
On August 30th the gold price fell 11% from its highs. The move went largely unnoticed and there certainly wasn’t any financial journalists in the press talking about gold’s demise. This prompted us to pen an article titled “About that gold correction – was that it?”. Even though the fall in gold was pretty substantial [...]
The weak hands are folding and liquidating gold again today as global stock markets continue their shaky stance. US Dollars: (click for sharper image) That’s a fall of $40 this morning – down 2.3% In £: (click for sharper image) That’s a £33 fall this morning – down 3% In €: (click for sharper image) [...]
It’s all go today, we have global stock markets tumbling 3%, gold off 1.8% and now we have silver dropping 4% to a key support level. But for those brave enough is it a time to step in a buy here. Let’s look at the charts: (click for sharper image) Silver has been tracking downwards [...]
After the much hyped Fed announcement yesterday it seems the world stock markets don’t think its nearly enough. Essentially Bernanke will sell $400bn of shorter dated bonds (3 years and under) and buy longer dated bonds with the proceeds (7 years or more). Many market participants were also expecting another version of money printing as [...]
When we wrote last week that there hadn’t been any austerity we really meant it. Today we got full justification for such a statement as the OBR reported that the UK borrowed more this August than any other August in the history of the country. Yes, you read that correctly, for all the nonsense about [...]
