Gold News
There is a very interesting story out of the FT today all about how the Eurozone countries should sell their gold to help pay off their enormous debts. The issue at stake revolves around the estimated 10,000 tonnes of gold reserves that are currently held by eurozone governments. According to the Council, “it is well [...]
This week has all been about waiting to hear Ben Bernanke address his central bank brethren from around the world in a few hours time. It was at this event back in 2010 that Bernanke left little doubt in anyone’s mind that more money printing was coming. Accordingly the gold price has been bumping around [...]
Well, political party conference season must be nearly upon us. It’s rather easy to tell that these political confabs are about to take place because we start seeing the garbage that we got today in the press from the Deputy Prime Minister Nick Clegg. Firstly the piece is totally and utterly 100% political and has [...]
After last week’s range-breaking rally the gold price this week seems keen on holding onto those gains. Whilst the gold price has drifted lower after touching $1672 at the start of the week there doesn’t appear to be much conviction in the selling. The 200 daily moving average is around the $1640 level, some $20 [...]
Where we are Last month we entered the sixth year of this crisis, although parts of the media seem determined to continue calling it a ‘recovery’. Wishful thinking. We have been in continuous crisis for half a decade. Doses of Valium and Prozac – called QE among central bankers – have calmed nerves occasionally and [...]
The gold price action this week has been very strong, and no more so than in the € gold price. In fact if gold can close above €1324 (currently at €1332) this will € gold’s second highest ever weekly close. The only time gold has closed higher on a Friday was back at the start [...]
So the Bank of England was out with another fluff piece ‘evaluating’ the effectiveness (or not) of all their money printing – which they still quaintly call quantitative easing. First up the entire premiss of this paper is all wrong from the get-go. Why on earth are we allowing the people that are running the [...]
After the gold price yesterday closed well above its 200 daily moving average there has been some great follow through today. Back on August 14th when the price of gold was bang on $1600 we noted: As the slow summer month continues the gold price has drifted back to around $1600 – but when you [...]
Well it’s taken 5 or so months but finally the gold price has got back above its 200 daily moving average. The catalyst? Why our good friends at the Federal Reserve no less. In the past couple of minutes the Fed released their minutes from their last meeting, and it was lines like this that [...]
The rally in the gold price this week is continuing with gold touching $1645 this morning, a level last seen nearly 4 months ago. The gold price is now up 2% on the week but more importantly it now looks like that 4 month trading range has been broken to the upside. Gold $: (click [...]
