Gold News
Yesterday was a pretty nasty day in the markets, equities sold-off whilst Spanish and Italian bond yields rose sharply. Which makes yesterday’s action in the gold price even more impressive. By the start of the US market open gold had sold-off all the way down to $1530, but then within a few minutes came all [...]
After grinding higher the past couple of days gold has now fallen back to the $1550 level. The reason yet again seems to be the concerns emanating out of Europe and whether the ECB and/or Fed will once again liquify the system – they will of course, they just like to keep people guessing. Gold [...]
The gold price is slowly creeping higher for a second day on another quiet day trading. It is managing to hold above the $1560 level we sited last week but at the moment there doesn’t seem to be any catalysts that will take the price higher – something that can change very quickly. Interestingly, but [...]
Should the Greeks have a referendum on whether they want to stay in the euro? Are the upcoming elections such a referendum? Would it be better for the Greeks if they left the euro? – Are you, like me, sick and tired of hearing these questions and then the answers based on the same stale [...]
The gold price has edged up at the start of this week with trading expected to be light as American take the day off with their Memorial Day. As we pointed out last friday the important weekly closing level of $1560 held going in to the close last Friday – this level now appears to [...]
David Miles, the new ‘ginger-in-chief’ (GIC) at the Bank of England is the chap who for the last two meetings has voted for an increase in money printing (interestingly whilst the outgoing GIC Posen, has not), gave a talk this week and it’s quite illuminating in understanding the current thinking at the BoE – and [...]
Whilst we’ve made a comparison to this most recent pull-back in the gold price and the sell-off that happened back at the end of 2008, there is another pull-back during this gold bull run that actually bears a much closer resemblance than the one in 2008. It is the pull-back that occurred during the first [...]
Today we got the second (of three) estimates for Q1 2012 GDP in the UK, and the number was horrible. When the first estimate came out last month the government funded ONS thought the economy contracted 0.2% for Q1. Today they now think the economy contracted 0.3%. in Q1 2012. The year over year figure [...]
It’s that time of the month again – Bank of England minutes. You know, the time where the mainstream media hang on every word of what a few bureaucrats sitting around a table, who are incapable of making even the most basic of forecasts accurately, and then extrapolate what our grand overlords have got in [...]
After last weeks big bounce back in the gold price, this week has seen the precious metal leak lower. In terms of $s and £s gold is now flat for the year. However, and unsurprisingly, Europe is still buying gold which has supported the gold price, and is up over 2% for the year. Gold [...]
