Published in Market Updates  Precious Metals Update 


IMF Chief Warns America on “Exorbitant Privilege” / Cazenove’s Griffiths Says “Essential to Own Gold” - $8,500/oz Is Possible

Gold is trading at USD 1,615.20, EUR 1,132.70, GBP 991.92 and CHF 1,293.10 per ounce. Gold’s London AM Fix was USD 1613.75, EUR 1129.76, GBP 991.67  (10:41 GMT). Gold is set to finish a turbulent July higher showing its safe haven attributes again. Gold is higher in all fiat currencies month to date and is 7.6% higher in U.S. dollars.


Published in Market Updates  Precious Metals Update 


Gold Near Record USD and EUR High – Eurozone Debt and U.S. Default Risks Global Financial Contagion

Gold is marginally higher against most currencies today and is trading at USD 1,614.40, EUR 1,130.50, GBP 990.08 and CHF 1,294.50 per ounce. Gold is flat against the dollar but remains just less than 1% from the record nominal high reached yesterday ($1,628.05/oz).  The euro is under pressure again today and gold is 0.7% higher against the euro and is just less than 1.5% away from the record euro high of EUR 1,144.80/oz reached last Monday.


Published in Market Updates  Precious Metals Update 


Gold New Record Nominal Highs ($1,625.70) as CDS Traders Start Positioning for U.S. Downgrades

Gold is trading at USD 1,620.40, EUR 1,120.50 and GBP 989.08 and CHF 1,298.50 per ounce. Both the dollar and the euro are under pressure again today and gold has reached another new record nominal high of $1,625.70/oz in early European trading.

Cross Currency Rates


Published in Market Updates  Precious Metals Update 


Gold Seen as Less Risky Currency - Return to Gold Standard Advocated in Print and Video

Gold is marginally lower in all currencies today (USD 1,611, EUR 1,113 and GBP 983 per ounce) but remains close to record nominal highs in major currencies on U.S. and Eurozone debt concerns. With the risk free rate of return of U.S. Treasuries (Treasury bills, Treasury notes and Treasury bonds) coming into question, gold is increasingly being seen by many as a less risky asset and as a less risky currency.


Published in Gold  Video 


Gold: Independent Money

Contributing editor to Money Week, Dominic Frisby, has just released an excellent video - ‘Gold: Independent Money’.

A picture paints a thousand words and a video hundreds of thousands of words and this is a very informative video about our modern monetary system, fiat currencies and gold. It shows how fiat money has led to wars, massive debt, social inequality, economic bubbles, rampant consumerism, and environmental destruction.


Published in Market Updates  Precious Metals Update 


Gold Surges in Asian Trading to Record Nominal High on Washington Theatre and Dollar Debasement

Gold is trading at $1,617.75/oz, €1,126.49/oz and £993.46/oz. 

Gold surged 1.4% ($23) from $1,600.90/oz to a new record nominal of $1,624.07/oz within an hour of the open in Asia. Gold reached new highs due to continuing uncertainty and theatre regarding the debt ceiling negotiations in Washington. Gold is higher in all currencies except the Swiss franc as the Swiss currency is also continuing to see flows.


Published in Market Updates  Precious Metals Update 


EU Debt Restructuring Leads to Bailout Euphoria / Silver to Double to $100 Says Citigroup

Bailout euphoria has returned to markets with Asian and European stock indices rising on renewed risk appetite. 

Gold has recovered from yesterday’s slight sell off (0.6% in USD) and the firm gold price in all currencies suggests that market euphoria is again misplaced. Gold is down only 20 euros per ounce in the last 24 hours. Gold is trading at USD 1,596.10, EUR 1,108.1, GBP 978.50 and CHF 1,310.10 per ounce.


Published in Market Updates  Precious Metals Update 


Gold “Fever” in Asia and Central Bank Demand Could Cause an “Earthquake” in the Gold Market

Gold is trading at $1,599.41/oz, €1,127.77/oz and £989.06/oz. 

Gold is mixed against various currencies today but is higher in euros after the euro has fallen on concerns that European leaders gathering for the summit in Brussels may not be able to resolve the Eurozone’s debt crisis and prevent contagion in the financial system.


Published in Market Updates  Precious Metals Update 


Gold to Rise on $14.3 Trillion U.S. Debt Limit Increase– Bloomberg Chart of the Day

Gold is trading at $1,587.56/oz, €1,115.72/oz and £983.31/oz. 

Gold is flat in U.S. dollars and New Zealand dollars but marginally lower in most currencies today as increased risk appetite has seen risk assets rally despite poor fundamentals. Most Asian indices were higher, except the Chinese and Indian markets, and European indices have also risen. 

Gold is trading at USD 1,587.00, EUR 1,116.1, GBP 983.50 and CHF 1,302.10 per ounce.


Published in Market Updates  Precious Metals Update 


Gold to Correct after Front Page Financial Times Article? Gold in 2011 vs the 1970s and 1979

Gold is trading at $1,604.10/oz, €1,132.20/oz and £995.66/oz. 

Gold has fallen in most currencies today and is trading at USD 1,603, EUR 1,130, GBP 995 and CHF 1,315 per ounce. Gold is 0.3% higher in Swiss francs again today after the last two weeks of deepening turmoil saw gold rise in the Swiss franc.

Cross Currency Rates


Published in Gold  Gold 


Irish Public Can See Gold Bullion Bar at Trinity Science Exhibition

 Irish people have a rare opportunity to get within touching distance and see a gold bullion bar at the Trinity Science Exhibition. The 'Elements: The Beauty of Chemistry' exhibition opened on Friday in the Science Gallery at Trinity College Dublin (TCD) and runs from July 15th until September 23rd.


Published in Market Updates  Precious Metals Update 


Gold Over $1600 and Silver Over $40.30 on Risk of Systemic Collapse and Fiat Currency Crisis

Gold is trading at $1,600.84/oz, €1,141.34/oz and £996.35/oz. 

Gold rose to new record nominal highs in debt laden U.S. dollars, euros and pounds today due to the growing risk of a systemic financial collapse and fiat currency crisis. 

Gold rose 0.5% in U.S. dollar terms to a new nominal record high at $1,602.05 per ounce. Euro falls saw the dollar rise 0.8% against the euro and gold rise 1.4% in euro terms to EUR 1,041 per ounce.


Published in Market Updates  Precious Metals Update 


Gold and Silver Likely to Go Parabolic Due to 'Global Shockwaves' if U.S. Defaults

Gold is trading at $1,580.40/oz, €1,117.36/oz, £980.76/oz.

Gold is some 0.5% lower against the U.S. dollar and most currencies today but higher in Australian dollars as the Aussie fell on Australian and global economic growth concerns. Asian equity indices were mixed as are European indices.

Cross Currency Table


Published in Market Updates  Precious Metals Update 


Gold Targets $1600 Per Ounce - New Nominal Record, Silver Surges 9% in 24 Hours as Dollar Falls

Gold is trading at $1,592.14/oz, €1,122.17/oz and £987.62/oz. 

Gold has risen to new record nominal highs at $1,594.45 per ounce and silver has surged another 3% to over $39 per ounce after yesterday’s 6% rise. Today’s London AM Fix gold fix was $1,592.50 £987.54 and €1,119.04 – all of which are new record nominal highs.


Published in Market Updates  Precious Metals Update 


New Record Nominal Gold Highs in USD, GBP & EUR on Moody’s Ireland Downgrade, FOMC Hint of QE3 & Increasing Risk of Economic...

Gold is trading at $1,572.35/oz, €1,116.17/oz and £985.49/oz. 

Gold for immediate delivery rose to new record nominal highs of 987.58 British pounds and 1575.18 U.S. dollars in London this morning. New record nominal highs were seen for gold in euros (1,123.50 euros per ounce), pounds and dollars yesterday. 


Published in Market Updates  Precious Metals Update 


Oxford Economics: Academic Proof that Gold is an Important Diversification Against Inflation & Deflation - Gold New Record ...

Gold is trading at $1,543.94/oz, €1,108.99/oz and £976.81/oz. 

Equities internationally and bonds in Greece, Ireland, Spain and Italy have fallen this morning while gold rose to new record nominal highs in euros and pounds (over EUR1,118/oz GBP980/oz respectively). The Italian 10 year rose above 6% for the first time and the Spanish 10 year yield rose to 6.12%. US stock futures are pointing to losses on the U.S. opening.


Published in Market Updates  Precious Metals Update 


Gold Surges to Nominal Euro & Pound Record - Jim Cramer Critiques Warren Buffett on Anti Gold Bias

Gold is trading at $1,553.11/oz, €1,104.47/oz and £973.00/oz. 

Gold has risen to new record highs in pounds and euros as concerns about contagion in the eurozone and stagflation in the UK deepen. The euro has fallen sharply in international markets and is down 1.5% against gold so far this morning. European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis as concerns deepen over the sovereign debt crisis spreading to Spain and Italy.


Published in Market Updates  Precious Metals Update 


India’s Gold, Silver Imports Surge 200% to $17.7 Billion in Q2; Chinese Bullion Demand Surging Further

Gold is trading at $1,528.33/oz, €1,071.99/oz and £958.08/oz. 

Gold was lower in most currencies except the euro this morning as euro weakness has kept gold close to record nominal highs in euros. Gold is 2.7%, 3.3% and 4% higher in dollars, pounds and euros for the week and looks set to close higher and near nominal highs in all currencies.


Published in Market Updates  Precious Metals Update 


UK Royal Mint Silver Production Surges 100% - Sovereign Edward Supply Tight but Bullion Premiums Low

Gold is trading at $1,525.62/oz, €1,069.93/oz and £955.18/oz. 

Gold is marginally lower in pounds and dollars and marginally higher in euros ahead of the key interest rate announcement from the European Central Bank (1245 GMT). The Bank of England kept interest rates at historic lows of 0.5% and the ECB is expected to increase rates by 25 basis points to 1.5% today despite the Eurozone debt crisis.


Published in Market Updates  Precious Metals Update 


Portuguese Bonds in Melt Down – Euro Gold Rises to €1,056/oz - 3% From Record Nominal High on Contagion Risk

Gold is trading at $1,515.06/oz, €1,055.42/oz and £945.73/oz. 

Gold is marginally higher in most currencies today and has risen a further 0.55% against the euro to EUR1,056/oz. It is just 3% from the record nominal high in euros at €1,087/oz due to the risk of contagion in the Eurozone.