Gold News
For the last BoE minutes we awarded the MPC a ‘best comedic performance’ award. We’re not sure a ‘completely mad’ award has been invented just yet but if the BoE keeps sending out minutes like this one surly will. The take-away is that more money printing is coming by november: Most of these members thought [...]
For a good few years many, including us, have said that the policies undertaken by Labour initially, carried on by the coalition and acquiesced by the Bank of England, would inevitably lead to price controls returning to the UK. Well yesterday the UK took a giant leap in that direction. Chris Huhne, the Lib Dem [...]
There are rumors flying around that UK government is seriously thinking about pumping £5bn into the UK economy. Not only is this an admission that their higher spending and higher deficits than Daling in 2008 ways are not working, it also confirms what we’ve been saying for months. The UK is in back in a [...]
Carrying on the Swiss theme this morning we now get news that the Swiss People’s Party are campaigning to hold a referendum in Switzerland on whether their central bank should back 20% of their assets with gold (currently it stands at 16%). By comparison just 4% of the UK central bank’s balance sheet is gold [...]
A very interesting development out of Switzerland today. Six Securities who run the main stock exchange and clearing functions in Switzerland have just dropped a gold bombshell. From the release: In a significant industry innovation, SIX Securities Services, the Swiss post-trade market infrastructure today announced the world’s first Delivery versus Payment (DvP) settlement capability against [...]
Last week Posen of the BoE was spouting the virtues of money printing to anyone who’d listen, whilst claiming that inflation was ‘transitory’ and that the real threat was deflation. So we thought we’d take a look just how far above their 2% inflation target the BoE has got and more importantly, just how much deflation would [...]
Ex-BoE member David Blanchflower was on Bloomberg yesterday confirming what we’ve been saying – namely that QE is coming in before November. Which backs up what we wrote on September 2nd: It’s hardly surprising, we had the goose egg ‘0’ print non-farm payrolls earlier in the US and more bad data in the UK. All [...]
Interesting news out of Shanghai today as Chinese authorities announce ‘more pure’ gold. From the report: SHANGHAI – Authorities have released the first national standards on “high pure gold,” a move that is likely to boost the country’s gold consumption. “High pure gold,” as it is called in the standards, refers to the gold with [...]
Earlier today Gold Made Simple News attended the GFMS Gold Survey 2011 Update. At that event GFMS announced that they now see gold breaking the $2000 level before the end of the year – for a full look at what was said go here. After going through the report one thing really jumps out – [...]
You may remember we reported back in April on the last gold survey by GFMS and that they had a price target of $1600 – well that’s clearly been eclipsed in recent months – they now see $2000 as a done deal by the end of 2011. The conference is about to start – updates [...]
