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Gold Investments Market Update – Many Government Mints, Wholesalers and Refiners Internationally Continue to Ration Gold and Silver Bullion
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Gold is marginally lower today despite sharply weaker oil prices (Light Sweet Crude Oil Future – Combined – FEB09 : -5.14%) and a slightly higher dollar (US DOLLAR INDEX: 83.01 +0.6%).
There was significant volatility last week and such volatility often portends a big move up or down. Given the strong fundamentals, gold’s next move is likely to be up, especially as investment demand for gold coins, bars, certificates and exchange traded funds remains very robust.
Concerns regarding the dollar’s long term health (and other major currencies) given the likelihood of trillion dollar deficits in the next few years are likely contributing…
14Jan2009 | The Gold Blog | 0 comments | ContinuedGold Bugs Have Fed to Thank for Recent Rally
The currency markets reaction to the Federal Reserve’s recent interest rate cuts has ignited a rally in gold, as investors weigh the benefits of owning the yellow metal versus U.S. Treasuries and the dollar.
As a result, gold has started to shine again as a stable source of value at a time when the dollar and other commodities – like oil and copper – have fallen hard. The spot price of gold has climbed above $870 an ounce on the New York Mercantile Exchange, up about 20% from its October lows.
Gold has been on roller coaster ride in 2008, moving…
31Dec2008 | Money Morning | 0 comments | ContinuedRonald McDonald is a Safer Bet Than Uncle Sam
This past week saw a remarkable occurrence. The cost of insuring against a US default via credit derivatives hit record levels. It now costs more to insure against a US default on their debt than it does to insure against a default by McDonald’s. Ronald McDonald is deemed to be more trustworthy than Uncle Sam!
This is understandable in the light of the trillions of dollars in additional debt that Uncle Sam will soon be adding to its balance sheet. Yet the lemmings on Wall Street continue adding to their US dollar positions. Don’t be surprised to see a bailout down…
6Oct2008 | Oxbury Research | Comments Off | Continued
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