Browse >
Home / Archive by category 'Gold News'
The Shanghai Index has hit an uptrend...
read more
The importance of stupidity in central banking...
read more
Gold edged up to $1654.28 in Asia before it fell back to $1637.78 at about 9AM EST, but it then bounced back higher in New York and ended with a loss of just 0.66%. Silver slipped to as low as $31.35 before it also rallied back higher in late trade and ended with a loss of 0.41%.
The questions gold investors have to ask themselves is, “if the days of the dollar are numbered, how will gold be used in the monetary system that follows? Will there be a global monetary system that all nations subscribe to or will the monetary world fragment?” For one thing, we will continue to live in a global world with nations trading amongst each other. To gold investors, such an eventuality –let alone its potential reality—would cause a return to the use of gold as a foundation for any monetary system, but not as a means of exchange, ever again.
Gold fell to $1641.30 in Asia before it climbed back up to $1657.50 by a little after 9:30AM EST, but it then chopped back lower midday and ended with a loss of 0.27%. Silver slipped to $31.113 before it rebounded to $31.679 and then also fell back off a bit, but it still ended with a gain of 0.03%.
I fully intended to ignore Spain this week. Really, truly I did. I had my letter all planned, but then a few notes drew my attention, and the more I reflected on them, the more I realized that the inflection point that I thought the ECB had pushed down the road for at least a year with their recent €1 trillion LTRO is now rushing toward us much faster than ECB President Draghi had in mind when he launched his massive funding operation.
Gold waffled near unchanged in Asia and London, but it then fell back off for most of trade in New York and ended near its late session low of $1649.32 with a loss of 1.14%. Silver slipped to as low as $31.33 and ended with a loss of 2.66%.
The US labor market has moved significantly towards part time rather than full time jobs...
read more
Mr. Bernanke is entirely right about the return of the Gold Standard, as it was implemented then could not work now. In its day, it was appropriate and worked well for many years, but the circumstances it worked in changed. The system did not change with those changes. Bear in mind that the world was at a stage where it believed in gold as the only money that one could trust. That’s why governments and their central banks issued notes against it and not un-backed currencies. The notes represented an amount of gold that could be trusted. Of themselves government notes represented not governments but their gold.
Gold climbed to as high as $1648.62 by a little after 9AM EST before it fell back to $1636.51 by late morning in New York, but it then rallied back higher midday and ended with a gain of 0.65% from last Thursday’s close. Silver climbed to $31.93 in Asia before it fell back to $31.32 and then also bounced back higher, but it still ended with a loss of 0.6%.
« Previous Page — Next Page »
