13th
February
2012
February
2012
{lang: ‘en-GB’}The euro has endured another torrid time at the currency markets, with the EURUSD testing resistance earlier at $1.30. Any drop below this important support level could encourage further euro selling and US dollar buying. This dollar strength continues to pile bearish pressure on precious metals, with a sharp sell-off late yesterday afternoon taking [...]
12th
February
2012
February
2012
{lang: ‘en-GB’}Ever wondered what one quadrillion looks like? Here it is: 1,000,000,000,000,000. This is the number that Japan’s public debt is expected to have breached by the end of this fiscal year in March 2012 – reaching 1,024 trillion yen (US$13 trillion). This is an increase of 99.75 trillion yen from the previous year, owing [...]
12th
February
2012
February
2012
{lang: ‘en-GB’}Precious metal prices have been caught in the “risk-off” selling engendered by the announcement last night from Standard & Poor’s that they were putting 15 eurozone countries – including France and Germany – on negative watch for possible credit downgrades. This usually means a 50% chance of a downgrade within 90 days, but S&P [...]
12th
February
2012
February
2012
{lang: ‘en-GB’}The Vietnamese central bank has announced that it will take over Saigon Jewellery Company (SJC), the country’s largest gold dealer. This move will have a strong impact on the local gold market, since SJC has a 90% market share. The Vietnamese government aims to control the national gold market via its central bank. The [...]
12th
February
2012
February
2012
{lang: ‘en-GB’}Status of President Obama’s speech, the meeting of the global financial elite Davos in Switzerland, and that the economy of the United Kingdom during the fourth quarter of 2011 crippled are all the headlines this morning. In addition, James Turk discusses his latest interview with Eric King above, Greece bablog KWN is closer to [...]
12th
February
2012
February
2012
{lang: ‘en-GB’}In recent weeks the rupee silver price has been in a downward trend. In today’s trading at Indian futures markets, silver contracts dropped by an average of 1,115, rupees down to 50,651 rupees per kilo. At the Multi Commodity Exchange, futures for May delivery – one of the most actively traded contracts – dropped [...]
12th
February
2012
February
2012
{lang: ‘en-GB’}The big news yesterday was the lack of demand for German debt at auction, raising questions about just how healthy the supposedly infallible German economy actually is. Germany was only able to sell €3.644 billion ($4.92 billion) of the €6 billion in 10-year bunds on auction for an average yield of 1.98%. Interest rates [...]
11th
February
2012
February
2012
{lang: ‘en-GB’}Precious metals continue to trade in tandem with stocks and commodities – and inverse to the US dollar. Yesterday saw the gold price again post another finish above resistance at $1,650, while silver futures again finished the Comex pit session above $30.50. Platinum and palladium also recorded gains, as did copper and crude oil. [...]
11th
February
2012
February
2012
{lang: ‘en-GB’}According to the World Gold Council (WGC), Japan’s gold exports are at their highest level since 1985. Referring to data from the Japanese Ministry of Finance, the WGC informs that during the first eight months of this year, Japan exported 95.6 metric tonnes of gold. According to the WGC, this year Japan’s gold exports [...]
11th
February
2012
February
2012
{lang: ‘en-GB’}Towards the end of 2011 India’s gold and silver imports fell. Upon conclusion of the festival season – which started back in October with the Diwali festival of light, followed by the wedding season – local dealers reported that demand for precious metals had decreased more than expected, owing to weakness in the rupee. [...]
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