Gold’s London AM fix this morning was USD 1,788.00, EUR 1,329.96, and GBP 1,120.79 per ounce.. Yesterday’s AM fix was USD 1,774.75, EUR 1,321.48, and GBP 1,120.42 per ounce. Cross Currency Table – (Bloomberg) Gold rose 1% in New York yesterday and closed at $1,783.90/oz. Gold rose in Asia to a high [...]
A World Bank report to be released next week warns of an economic crisis in China unless state-run firms are scaled back. The Wall Street Journal discusses the report in New Push for Reform in China An exclusive preview of an economic report on China, prepared by the World Bank and government insiders considered to [...]
Gold and silver prices were volatile and sharply lower Wednesday morning as Federal Chairman Ben Bernanke was testifying before Congress. Also impacting gold and silver trading, the European Central Bank conducted its second Long Term Refinancing Operation, and the Bureau of Economic Analysis revised fourth-quarter 2011 GDP upward. Spot gold was down 2.78% at 11 [...]
Federal Reserve Chairman Ben S. Bernanke’s words carried a great deal of weight in the commodity markets — so much so that they squashed the prices of gold and silver. Bernanke told Congress that the U.S. economy was probably headed for modest growth this year, adding that the current increase in oil and gas prices [...]
From Forbes: … In what is usually the most heated and interesting exchange of Bernanke’s excursions to Congress, the Fed chairman was forced to sit down and listen as Ron Paul scolded him for “debasing” the currency and “destroying” the wealth of millions of Americans. Ron Paul first asked Bernanke if he did his own grocery [...]
From Save Capitalism: Either [Austrian economist] Robert [Wenzel] has started early with the April Fools jokes, or we can start using his Economic Policy Journal as the guidance of future Federal Reserve activity. Have the Federal Reserve economists finally confessed that they have no clue as to what they are doing, and they desperately need [...]
After Ben Bernanke spoke today the gold and silver markets took a beating. (maybe we were too quick in offloading our silver puts yesterday). That decision to close out the trade was made on the basis of the massive move in pre-market. Getting out at .14 was much better than hoping for a turnaround that [...]
Interviewed today by King World News, Sprott Asset Management’s John Embry discusses another smash in the gold and silver paper markets by their “manipulators,” the bullion banks: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/29_Em… Market analyst and gold mining entrepreneur Jim Sinclair writes that today’s action in gold is an “intervention” functioning as “window dressing” camouflage for more “quantitative easing” by [...]
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