Dollar Wobbles on Chinese Currency Diversification Concerns
October 27, 2009 by goldguru · Leave a Comment
Mark O’Byrne submits: Gold Gold closed trading at $1,039.80/oz In euro and GBP terms gold is trading at €699/oz and £635/oz. Support for Gold is currently seen at $1,030/oz and resistance at $1,053/oz. Gold fell yesterday as oil prices and equities came under pressure and the dollar rose. The dollar has fallen marginally today after [...]
US Dollar in Need of a Tourniquet
October 9, 2009 by goldguru · Leave a Comment
The Daily Reckoning OK, front and center this morning, gold has soared to another all-time high! When I turned on the screen this morning, gold was flashing a great big $1,055 figure… WOW! But wait! Gold – and silver for that matter – aren’t the only risk assets moving higher… All 16 of the countries [...]
What People are saying about Gold. Is it the right time to buy?
October 9, 2009 by goldguru · Leave a Comment
Gold Hits Record High: Time to Sell or Time to Buy? posted by Jeff Brown, Personal Finance Blogger I’m standing at my office bookshelf rummaging in a small box of junk… I mean, treasures. There’s a transistor radio I carried on my paper route at 14, a broken watch, some old photos… Ah, here’s what [...]
Potential End of Dollar-based Oil Deals Helps Gold Shine
October 7, 2009 by goldguru · Leave a Comment
By Myra P. Saefong, MarketWatch Oct. 6, 2009, 5:07 a.m. EDT TOKYO (MarketWatch) — Growing speculation over the potential end to dollar-based trading in the oil market may be part of the reason gold prices have rallied beyond $1,020 an ounce to stand near their highest level in 18 months. And the strength was kept [...]
Inflation is Our Future
September 30, 2009 by goldguru · Leave a Comment
The Daily Reckoning On one hand, the deflationists are claiming that given the extremely high debt levels in the West, further inflation is impossible. On the other side of the argument, many proponents of inflation are calling for Zimbabwe style hyperinflation. In this business, everyone is entitled to their opinion; however it is my contention [...]
Thank the Fed For Your Lack of Purchasing Power
September 23, 2009 by goldguru · Leave a Comment
By The Mogambo Guru In case you were wondering, there is no way to stop spending a debt-based currency once you start, which handily explains why Doug Noland, in his Credit Bubble Bulletin, asks “what about an exit strategy? Well, I see a ‘No Exit’ sign. These distortions have been going on for too many [...]
Just another central banker who declined to warn the world
July 11, 2009 by goldguru · Leave a Comment
By Beat Balzli and Michaela Schiessl, Der Spiegel, Hamburg William White predicted the approaching financial crisis years before 2007′s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy. William White had a pretty clear idea of what he wanted to do with [...]