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24-Hour Live News Wire
Staff favorites www.usagold.com --WORTH READING-- |
China moves to cut reliance on dollar (July 3)
Gold will blast above $1,000 within 100 days (July 2)
India, China pushing gold price (July 2)
Is virtual currency a real problem? (July 1)
California misses budget deadline, readies "IOUs" (July 1)
Banking system like South Sea bubble, says senior Bank of England official (July 1)
IMF Board authorizes debut bond issuance (July 1)
India: Gold may touch new peak at Rs 17,000 (June 30)
Bernard Madoff gets 150 years in jail for epic fraud (June 29)
Feeling cautious? Load up on gold (June 29)
Gold worth $15.3 million missing from Royal Canadian Mint (June 29)
Royal Canadian Mint: Missing gold probe rules out poor record-keeping (June 29)
Gold could shoot through $1,000 if China shifts away from U.S. treasuries (June 26)
The appeal of investing in gold (June 26)
China should buy gold to hedge U.S. dollar, official says (June 25)
Commodity super cycle is alive and well (June 24)
| NEW in the last 5 minutes www.usagold.com --LIVE NEWS-- | | The recession hasn't stopped people from popping the cork off a bottle of shiraz or chardonnay. | 01:49 Morning Call, Pennsylvania - Business | | Recession takes its toll on migrant workers | 01:46 TV3 - Latest News | | July 6 - ProSticks Ichimoku Forex Technical Report for Eur, GBP, JPY, AUD Gold | 01:45 Forex TV - Technical Analysis | 5 to 10 minutes old www.usagold.com --LIVE NEWS-- | | Sensex, Nifty gain one per cent each in bullish market | 01:41 The Times of India - India Business | 15 to 30 minutes old www.usagold.com --LIVE NEWS-- | | Look to the US to lead the way out of recession | 01:22 Yorkshire Post - Business | 30 minutes to 1 hour old www.usagold.com --LIVE NEWS-- | | Hiring unlikely to rebound even as economy does | 01:14 The Tennessean - Business | | Recession and APD forces airlines to cancel routes | 01:12 Telegraph.co.uk - Finance | | California woes could prolong the recession | 01:11 Denver Post, Colorado - Business | | Restaurants fighting recession with freebies | 00:58 The Register-Guard, Oregon - Business | Earlier Today www.usagold.com --LIVE NEWS-- | | Al-Subah: Oil price over $100 may deepen recession | 00:36 Middle East North Africa Financial Network | | Abu Dhabi's gold sales marks 30% rise in June | 00:36 Middle East North Africa Financial Network | | Rising crime blow as firms battle to survive recession | 00:33 BusinessEastMidlands.co.uk | | US clings to economic recovery hopes for 2009 despite recession | 00:27 Arab Times - Business | | Dollar climbs against euro on new U.S. worries | 00:25 Irish Sun - Europe Business | | Longmont bakery closes amid bad economy | 00:05 The Daily Camera, Colorado - Business - National / International | 1 to 2 hours old www.usagold.com --LIVE NEWS-- | | Back dollar as key currency, major nations urged | 23:51 Gulf Industry Magazine Online - Home | 2 to 4 hours old www.usagold.com --LIVE NEWS-- | | Dollar climbs after poor European retail sales | 23:48 TerraNet - Business | | Recession's toll: U.S. has fewer jobs than in 2000 | 23:44 NorthJersey.com - Business | | WB economists allay fears over inflation | 23:43 China Daily - BizChina | | Current Recession Is a Severe Credit Bust of Depression-Era Magnitude | 23:18 The Market Oracle - The Market Oracle - Currency Market Analysis | | Nation’s debt: Next economic crisis? | 23:03 Omaha World-Herald, Nebraska - Money | | Forex reserve up $932 mn | 23:02 The Business Standard - Banking & Finance | | Cynthia Hutcherson receives gold service recognition | 23:00 The Oklahoman (NewsOK.com) | | World leaders question dollar's dominance (Today) | 22:27 Pittsburgh Post-Gazette, Pennsylvania - Business | | EUR/AUD - Euro Australian Dollar, European Session - 03/07/09 | 22:15 Irish Sun - Europe Business | | TABLE-Bangladesh key economic indicators - July 4 | 22:13 interactive investor | | How to spot end of the recession | 22:07 Reading Eagle, Pennsylvania - Business | 4 to 6 hours old www.usagold.com --LIVE NEWS-- | | K Club owners mothball plan for extension as recession hits | 21:47 Irish Independent - Irish Business News | | Vietnam gold prices up slightly | 21:46 Thanh Nien Daily | | World Bank warns of rising protectionism during current recession | 21:43 The Star Online | | China statistics chief sees no inflation risk this year | 21:23 interactive investor | | For Choice Hotels, Recession Brings a Chance at Decisive Gains | 21:21 The Washington Post | | Former Chinese Vice-Premier Zeng Peiyan on Friday called for a new mechanism to maintain the stability of the major reserve currencies and tighter vigil on countries issuing reserve currencies. | 21:13 China Daily - BizChina | | Defensive mood benefits dollar | 21:08 FT.com - UK Edition | | Bill seeks to fertilize bio-based economy | 21:06 Bizjournals - Columbus Business First | | Not just gold missing from mint; hunt also on for silver, platinum | 21:01 Canada.com - Ottawa | | Canada beats Jamaica in Gold Cup opener | 21:01 Toronto Sun - Money | | For Pakistan's female refugees, a silver lining | 20:56 The Globe and Mail | | Dog days of recession don’t bother Hawaii pets | 20:55 Honolulu Pacific Business News | | HKMA sells HK$3.88b to keep currency in trading band | 20:51 The Business Times | | Obama still popular despite weakening economy, employment | 20:34 Irish Sun - Business | | Gold fluctuates, transactions don�� ... | 20:29 Himalayan Times - Business | | Economy appears to have returned to anaemic growth, index suggests | 20:23 FT.com - Basic Industries | | Soccer: Canada opens Gold Cup with win | 20:22 Canada.com - Vancouver Sun | | Recession real estate opportunities, hungry investors have Boombozz franchising plans booming | 20:10 Bizjournals - Louisville (Business First) | 6 to 8 hours old www.usagold.com --LIVE NEWS-- | | Forex reserves jump $932 mn to touch $265 bn | 19:49 The Economic Times - Stock Markets | | Recession Puts Breaks on Holiday Travel | 19:42 Irish Sun - Business | | Jobs Misery For Graduates Amid Recession | 19:42 Irish Sun - Business | | Infosys founder on economy | 19:34 CNN.com International Edition - Business | | US dollar ekes out gains in thin trade | 19:30 The Australian - Business |
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USAGOLD Video Index
Audio-visual commentary on current
events
USAGOLD Analysis &
Commentary
China profoundly alters gold market synergy
Publicly voicing the desire to hedge a potentially disastrous collapse of the dollar
Gordon Brown gold rally indicator flashes
buy signal
IMF gold becomes precious when
sought by Brown
Gold coin shortage likely to become
chronic
Gold refineries are running at
capacity
The Big Bailout
of 2008
The chickens come home to roost
[Addendum]
Annual Survey
of Investments
Gold up 43% -- outshines Wall
St.
An Historic Year for Gold
June 2007 - May 2008
Seasonal Gold Price Trends
Summer bargain hunting made simple
Has Europe declared war on the weak
dollar?
Collateral damage for gold?
Golden Gut Check
Why gold is likely to keep moving higher over the long term
As gold crosses $1000...
A comment on gold as savings
Will Gold Catch Up With Crude Prices?
In the time ahead, gold will not only have to rise, it will have
to rise faster than oil
7 Steps to Become a Happy 1st-time
Gold Investor
How to make the right decisions
Gold Price Relativity
What gold owners can learn from the stock bull market of the
1990s
Disturbing Trends Update
The Dollar Under Siege - Special
Commentary
The Coming Dollar Devaluation
What it means to you as a gold
owner
Gold Market Volatility
Has it changed the reasons for
physical gold ownership?
USAGOLD PressRoom -- Article Archive
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Ed Stein's Wit & Wisdom
An ABCs of Gold Investing
Update -- June 25th,
2009
In one fell swoop, China profoundly alters gold market synergy
by Michael J. Kosares
Evening Market Report
Gold retraces gains before holiday as employment data quells inflation fears
The COMEX August
gold futures contract closed down $10.30 Thursday at
$931.00, trading between $926.60 and $942.10
July 2 p.m. excerpts:
(from Dow Jones) --
Gains posted by the U.S. dollar combined with pre-holiday liquidation to send gold and other precious metals lower Thursday. "Probably, Thursday's decline was a certain amount of taking some money off of the table ahead of a long weekend," said Ira Epstein, director of the Ira Epstein division of The Linn Group. "Since the market rallied yesterday, it's logical to come down." August gold essentially gave back most of Wednesday's $13.90 gain. Gold's pullback came in light trading conditions ahead of Friday's market closure for a three-day Independence Day weekend for U.S. financial markets. Epstein noted that July tends to be the weakest month for metals on a seasonal basis. "Then come August, we start seeing demand pick up because the mentality of the market changes"...more
(from Reuters) --
Gold futures briefly fell below $930 an ounce on Thursday as worse-than-expected U.S. nonfarm payroll losses decreased gold's appeal as a hedge against inflation and bolstered the dollar. A gloomy job market combined with still no clear signs of economic recovery indicated general price levels would not go into an upward spiral any time soon, dampening gold's appeal as a classic hedge against inflation. "The data is clearly noninflationary. There is no imminent inflation ... so I would view it as a negative for gold from that standpoint," said Bill O'Neill, managing partner of New Jersey-based LOGIC Advisors.
While gold is traditionally seen as a safe-haven asset, moves in the dollar are taking precedence as the metal's main price driver...more
(from Marketwatch) --
In currencies trading, the dollar index climbed above 80. The U.S. currency has been used as a safe-haven currency since the financial and economic crisis, competing at times with gold. Gold futures fell Thursday as the U.S. dollar strengthened against most of its rivals after a disappointing U.S. jobs report boosted demand for the dollar. The Labor Department report also showed the unemployment rate ticked higher to 9.5% in June, the highest since August 1983. The dollar rose after the Labor Department reported Thursday nonfarm payrolls shrank by 467,000 in June, higher than the 325,000 decline expected by economists surveyed by MarketWatch...more
(from Bloomberg) --
The dollar also strengthened as European Central Bank policy makers left the benchmark interest rate at a record low. "The U.S. dollar recovered and the precious metals followed suit and lost some of yesterday’s gains," Miguel Perez-Santalla, a Heraeus Precious Metals Management sales vice president in New York, said in a note. Gold futures for August delivery slid $10.30, or 1.1 percent, to $931 an ounce on the New York Mercantile Exchange’s Comex division. The U.S. markets are closed tomorrow...more
 Pete Grant's intraday news briefs...
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Archive
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for more timeless news
and Op-Eds, see also
The Gilded
Opinion |
USAGOLD VideoBrief [video]
-- June
10, 2009
Is the DJIA a viable economic indicator?
-- featuring Pete Grant & Jonathan Kosares
USAGOLD VideoBrief [video]
-- May
19, 2009
Save dollars or save
gold?
-- featuring Pete Grant & Jonathan Kosares
Rocket School
of Economics -- An
Often Overlooked Issue!
(May 22) -- The great credit contraction
is now well and truly underway. In simple terms it is like the
tide going out prior to the tsunami coming in. The dollar is
a liability and as such being in cash is also a liability. Government
securities are also liabilities, but the issue of liabilities
versus real assets is more widespread than that. The precious
metals are not a liability, and ownership of them is a very wise
move given the uncertainty surrounding everything else that is
happening.
USAGOLD RoundTable [video]
-- Apr.
23rd, 2009
Recovery, what recovery?
-- featuring Pete Grant, Jonathan Kosares & George Cooper
Gilded Opinion
-- In
uncertain times, all that glisters is a gold standard
The logistics of embracing a new
gold standard would be mind-boggling. UBS, for example, calculates
that the US reserves of gold are so small, relative to its monetary
base, that a price above $6,000 an ounce would be needed to reintroduce
a gold standard. To implement that standard in Japan, China and
the US, the price would be more than $9,000.
USAGOLD VideoBrief [video]
-- Apr.
2nd, 2009
A global currency backed
by gold?
-- featuring Pete Grant & Jonathan Kosares
USAGOLD RoundTable [video]
-- Mar.
12th, 2009
Not getting your TARP?
Buy gold (while you can!)
-- featuring Pete Grant, Jonathan Kosares & George Cooper
Rocket School
of Economics -- Problematic
Banking Systems!
(Mar 28) -- The real issue here
is the fiat monetary system itself. The purpose of a gold standard
is to effect settlement and the closing of the gold window in
1971 placed the very necessary activity of settlement into the
deferred stage. Since that time no transactions have been officially
settled. These unsettled transactions remain on other Central
Banks balance sheets as reserves, which they are not. They are
liabilities of the United States.
An ABCs of Gold Investing
Update -- March 8th,
2009
Gold
coin shortage likely to become chronic
by Michael J. Kosares
USAGOLD VideoBrief [video]
-- Feb.
4th, 2009
Answering viewers'
questions.
-- featuring Pete Grant & Jonathan Kosares
Gold coin shortage
as demand soars
(FT 2/25)
"The demand is extraordinary. All the coins we got on Monday
are gone today [Tuesday] and we will not be able to take any
order until the following week," Mr Kramer said. "It
is the same with other mints." Although the surge in coin
demand is a bullish signal for gold prices, the fact that mints
cannot match demand means that the potential extra consumption
does not push spot prices higher, but just drives premiums above
normal levels. The Rand Refinery in Johannesburg, which mints
the world's most popular gold coin, South Africa's Krugerrand,
said demand was above its maximum capacity, even after doubling
last month to 20,000 ounces from 10,000 ounces a week. Johan
Botha, head of precious metals sales at the Rand Refinery, said
there was demand for more from international investors, pointing
to strong sales to Switzerland, the UK and Germany. "If
we were able to produce 30,000 ounces,the market would absorb
it," he said. Mr Kramer said MTB had Krugerrand orders equal
to three months of refinery supplies to the company.
USAGOLD VideoBrief [video]
-- Jan.
26th, 2009
Currency manipulation?
Geithner's comments, China and consequences.
-- featuring Pete Grant & Jonathan Kosares
Gilded Opinion
-- Unintended
Consequences
The arrogance and self importance
of politicians is an insult to the intelligence of all Americans.
They put their unproven theories into practice by committing
trillions of taxpayer funds. They are only concerned about the
next election cycle and not about the long-term consequences
of their ignorance and ignorance of crucial facts. The accumulation
of blunders over the decades by government has led to unintended
consequences that could bring down our country. Recent developments
will have disturbing consequences for all Americans.
Ex-central
banker warns of massive dollar collapse (Telegraph 1/5)
Americans must prepare themselves for a massive collapse in the
dollar as investors around the world dump their US assets, a
former Bank of England policymaker has warned. The long-held
assumption that US assets - particularly government bonds - are
a safe haven will soon be overturned as investors lose their
patience with the world's biggest economy, according to Willem
Buiter. "There will, before long (my best guess is between
two and five years from now) be a global dumping of US dollar
assets, including US government assets. Old habits die hard.
The US dollar and US Treasury bills and bonds are still viewed
as a safe haven by many. But learning takes place." He said
investors would, rightly, suspect that the US would have to generate
major inflation to whittle away its debt and this dollar collapse
means that the US has less leeway for major spending plans than
politicians realise.
USAGOLD VideoBrief [video]
-- Dec.
3rd, 2008
$2000 gold? Citigroup's
recent price projection is analyzed.
-- featuring Pete Grant & Jonathan Kosares
Gilded Opinion
-- Alf
Field's LAST Elliot Wave Gold Update
There are three things you need
to know about Alf Field. First, his forecasting on the gold market
utilizing Elliot Wave Theory has been consistently accurate since
his first essay in 2003. Second, he comes to a much different
conclusion about gold's future than Robert Prechter, EWT's most
famous practitioner. Third, this will be his final essay and for a remarkable
and admirable reason which
you can discover by reading on.
Worth Lingering:
Gilded Opinion
-- How to invest in commodities...
Our lives depend on commodities yet most are too afraid to invest
in them. History is dotted with massive bull-markets in commodities,
which occurred regularly. In fact, over the past 200 years, we
had five major booms in natural resources. The shortest boom
I could find lasted 15 years, and the longest one continued
for 40 years!
Older Gold News, Archives . . .
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