With gold suffering its worst week since September 19-23, many investors have been left wondering if further downside lies ahead. The tepid performance of the yellow metal in recent months has led to a rising sense of “apathy” among gold investors, according to Forbes contributor Tom Aspray. This afternoon, Aspray argued that this recent lack [...]
A political economist says that China’s economic importance is growing strong and steady that the ailing US and EU economies will exchange their gold reserves for Beijing’s financial bailouts. G-20 leaders are facing growing pressure at home over the economic woes of their countries, where protests are being held in some nations on a daily [...]
On the back of weakening global cues, global commodity markets went through a week of worsening sentiment as reflected in widespread price declines virtually across the board. For market participants risk aversion was the theme with unabated eurozone debt crisis the main focus of attention. In the crude market, the price differential between WTI and [...]
Gold prices may be down 10 percent from late-summer highs, but that hasn’t dampened the demand for precious metals by buyers operating in Central New York. Two out-of-town companies joined local antiques stores, jewelry stores, pawn shops and others in offering to buy gold, silver, diamonds, coins and other valuables in recent days. New Jersey-based [...]
Most readers of Mineweb will have a view as to whether gold is a currency, commodity or something rather more. A recent analysis by Julian Jessop, Chief Global Economist for London-based Capital Economics, comes down pretty firmly on the side of gold being, in effect, a currency – at least for the moment – and one [...]
The sharp drop in the gold and silver price last week to around $1,720 and $32 respectively, in the context of rising eurozone yields and falling global stock markets is setting the scene for a 2008-style correction. We even had the ultimate contrarian indicator with Jim Cramer say another big fall in the euro would [...]
World Gold Council (WGC) said that during the third quarter, demand for gold and jewelry dropped 28 percent in the Middle East to 38.5 tons, reported Arab News. The WGC added that in the period, global gold jewelry market shrank by 10 percent at 465.6 tons; however, demand was 5 percent less than the quarterly [...]
The latest developments in Greece and Italy seem to have temporarily stabilized the financially troubled Eurozone. However, as two of the main actors in this soap opera bow out, two new actors appear. And, while this may help to quell some of the recent political wrangling that we have seen over the last few weeks, [...]
Gold prices settled slightly higher on Friday, however, it fell sharply for the week. Gold posted its biggest weekly decline since September as investors sold the precious metal to cover for losses in other markets. On Friday, gold pared some of its losses from Thursday, rising above its 50-day moving average. However, the gains on [...]
St Barbara Ltd, an Australian gold producer, said it is focused on reducing costs amid forecasts for the price of the metal to “remain strong.” “I think the price, and the consensus seems to be that the price, is going to remain strong for some time,” St Barbara Chief Executive Officer Tim Lehany said in [...]
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