Gold Core

FSA Bans Commission for Advisors

Published by Deirdre O Driscoll under Wealth Management |

Financial advisers are to be banned from receiving commission for selling investment, pension and life assurance products from 2012, under radical new rules announced by the Financial Services Authority in the UK.

In its Retail Distribution Review, the regulator set out new measures to “ensure that commission-bias is removed from the system – and recommendations made by advisers are not influenced by product providers.”

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GoldCore Precious Metals Market Update

Published by under Market Updates | Precious Metals Update |

Gold
The continued pressure of a strong dollar saw gold fall yesterday as it technically broke through the trend-line of $934. Despite equity weakness, gold remains heavy. A move lower in the short term would seem likely. However, with the gold/silver ratio of 68.7, a 1st quarter low, this downward trend may soon be capped and a bounce back to all time highs in July may be possible. It has gained slightly this morning and is currently trading at $920.34.

Due to this price breakdown, gold ETFs saw net inflows for the first time in 3 months.

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GoldCore Precious Metals Update

Published by Daniel Stokes under Market Updates | Precious Metals Update |

Gold:
The long term trend line price of gold at $925, which has been steady since Monday, pushed higher today based on news that the World Bank has raised its growth forecast for China. The Chinese stock market rallied as did commodities across the board. Another main factor behind the return of bullish sentiment for gold is the euro. In contrast to the US Treasury, the ECB has stated that it does not intend to cut interest rates further which has pushed the euro to 1.39444 and gold is holding firm. 

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