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Live London Gold News Wire
5 to 10 minutes old
www.usagold.com --LIVE NEWS--
Russia ditching US Treasuries for gold in bid to protect economy & diversify – analysts to RT08:28
RT - Business
15 to 30 minutes old
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Earlier Today
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Gold jumps to Rs 30,970; silver plunges by Rs 645 per kg02:58
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Gold slips for the 2nd consecutive week02:28
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Mubasher.Info
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Zero Hedge (Weblog)
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Gold Prices Bounce From Fresh Yearly Lows After Trump Walks Back USD17:25
Nasdaq - Global Markets

by Michael J. Kosares

NOTE: Summer schedule. Posting will be Intermittent. Thank you.

Update Thursday–Gold drops sharply on weak yuan fix

(USAGOLD – Thursday, July 19, 2018) –

Yesterday in Myra Saefong's MarketWatch afternoon gold market update:

"I do not believe that the trade wars at present are the dominant issue for gold and the dollar,” Michael Kosares, founder of gold broker USAGOLD, told MarketWatch. “Both, I believe, are still caught up in a syndrome dictated by dovish interest-rate policy across both oceans, while the U.S. continues to raise rates. That could all change in a heartbeat, though, if the inflation rate begins to run consistently higher than interest rates.”

This morning reports have surfaced that China's central bank is aggressively pursuing its own version of a quantitative easing program. (Read here) Simultaneously it fixed the yuan top-shelf exchange rate lower signalling it was interested in a weaker yuan against the dollar and other currencies. The combination sent gold reeling overnight in Asian markets – down $14 at one point. Gold has staged a minor recovery in early U.S. trading and is now down $10 at $1217. Increasingly, currency traders are suggesting that the Fed may be forced to act. In an editorial this morning, the Financial Times warns "The U.S. central bank must be prepared to halt or reverse rates. . . if financial stability is threatened."

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USAGOLD ranks among the most reputable gold companies in the United States with several thousand clients and multi-millions in annual revenue. Founded in the 1970s and still family-owned, we are one of the oldest and most respected names in the gold industry. Our unblemished, zero-complaints record and solid reviews with the Better Business Bureau testify to the exceptional customer service and professional excellence which sets us apart from the competition.

USAGOLD specializes in gold and silver coins and bullion delivered to our client's safekeeping. For over 45 years, we have resolutely advocated owning precious metals for asset preservation purposes rather than speculation. Admittedly, this philosophy does not resonate with all prospective gold and silver owners, but if it does with you, we think you will find our firm a kindred spirit.

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Choose USAGOLD – reliably serving physical gold and silver investors since 1973.

___________________________________________________________________________________

mk

Michael J. Kosares is the founder of USAGOLD, author of The ABCs of Gold Investing - How To Protect and Build Your Wealth with Gold (Three editions), and editor of the firm's monthly newsletter. He has also written numerous published articles and essays on the gold market.

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8:37 am Sun. July 22, 2018

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Disclaimer - Opinions expressed on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset-preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the the accuracy, timeliness or completeness of the information found here. (Please see our Risk Disclosure here.) 

 

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