Capital Gold Group Report: Scrap dollar as sole reserve currency: U.N. Report

By Louis Charbonneau UNITED NATIONS | Tue Jun 29, 2010 4:56pm EDT UNITED NATIONS (Reuters) – A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value. But several European officials attending a high-level meeting of the U.N. Economic [...]

Gold May Have More Price Support now Than at any Time Since 1989

The Daily Reckoning The central banks of the world are changing tune. Since 1989, the banks have been net sellers of gold reserves, meaning that as a group they have sold more than they have taken in. This is an important point because the large gold sales of central banks tend toward lowering the spot [...]

The Dollar as a Reserve Currency

Bob Mcteer submits: Much hand-wringing is taking place over the reduction or possible loss of the dollar’s reserve currency status. That’s a bit ironic since the whole concept of a reserve currency is no longer valid in a system of floating exchange rates. Under the dollar-exchange system established at Bretton Woods, New Hampshire after World [...]

Weekly Market Recap 10/16/09

Gold hit another record high this week, as the yellow metal moved above $1,070.00 per ounce. “There’s lots of concern about the weakness of the dollar, and this had been driving gold,” said Peter Fertig, owner of Quantitative Commodity Research to the financial website Bloomberg.com. “The fear that central bank exit strategies will come too [...]

Capital Gold Group Report: DOLLAR DECLINE GAINING MOMENTUM: ‘Benign currency neglect’ could spell real danger for US economy – A Foreign News Perspective

What’s happening to the dollar? That’s the question dominating the world’s financial markets. Last week the US currency fell, on a trade-weighted basis, to a fresh 14-month low. The dollar’s decline is now gaining momentum. By Liam Halligan Published: 7:22PM BST 10 Oct 2009 Many American economists say the greenback is falling because the global [...]

DOLLAR REACHES BREAKING POINT AS BANKS SHIFT RESERVES; LOSES 10.3% IN SIX MONTHS

Oct. 12 (Bloomberg) — Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades. Policy makers boosted foreign currency holdings by $413 billion last quarter, the most since at least 2003, to $7.3 trillion, according [...]

What People are saying about Gold. Is it the right time to buy?

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 [...]

Gold Soars to an All-Time High

The Daily Reckoning What a day for gold, yesterday! WOW! In case you were trapped in a cave and didn’t hear the news… Gold, which I said yesterday morning looked like it was going to take out its all-time high, did take out its all-time high, and not just take it out! Gold pushed past [...]

Will gold become the new reserve currency?

As the dollar’s dominance fades gold’s neutrality puts it in a good position to benefit Read more….

Trichet Says Strong Dollar Is ‘Extremely Important’

By Gabi Thesing and Christian Vits Sept. 28 (Bloomberg) — European Central Bank President Jean-Claude Trichet said a strong dollar is “extremely important” for the world economy and it’s too early for the ECB to unwind emergency stimulus measures. “In the present situation it is extremely important that we can have in the framework at [...]

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