Chinalco wants RUSAL’s Australian alumina refinery stake
October 13, 2009 by goldguru · Leave a Comment
But, the Chinese company hopes to avoid the Russian firm’s Hong Kong share ipo Read more….
Max Keiser: Oil Trade’s U.S. Dollar Dump Rumors Are True
October 12, 2009 by goldguru · Leave a Comment
Prieur du Plessis submits: Max Keiser, international journalist, provocateur and ex-stockbroker, was interviewed on Tuesday by the Russia Today television network on the oil trade’s so-called “U.S. dollar dump” (courtesy of GATA). He reported that he was hearing from his sources in Paris and the Middle East that there was substance to the widely publicized [...]
DOLLAR REACHES BREAKING POINT AS BANKS SHIFT RESERVES; LOSES 10.3% IN SIX MONTHS
October 12, 2009 by goldguru · Leave a Comment
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 [...]
Weekly Market Recap 10/09/09
October 10, 2009 by goldguru · Leave a Comment
This week, Gold broke through its all time high and set a new benchmark at $1,061.10 per ounce. Concerns about the weakened U.S. Dollar and a second economic downturn, along with increased risk of higher inflation, were the leading causes for the commodities boost this week. Other factors had an impact as well, such as [...]
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 [...]
Gold Is Just Getting Going
October 7, 2009 by goldguru · Leave a Comment
Melinda Peer10.06.09, 05:30 PM EDT Gold set a new record, and analysts expect it to set a few more as the dollar falters. Gold hit fresh highs on Tuesday as it continued to take its cues from a weak U.S. dollar. The greenback tumbled as uncertainty over its global strength was triggered by a report [...]
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 [...]
Is the Dollar Being Removed from Oil Trades?
October 6, 2009 by goldguru · Leave a Comment
The Daily Reckoning Today we’re already seeing a HUGE currency rally versus the dollar, on the news that the Reserve Bank of Australia (RBA) opted to go ahead and hike rates now, rather than wait for November’s meeting… Which I thought they would do! WOW! The first hike has opened Pandora’s Box of interest rate [...]
GOLD Breaks Record High!
October 6, 2009 by goldguru · Leave a Comment
MARKET ALERT! MARKET ALERT! In overnight trading Gold reached an 18 month high and, as we write this, it has broken NEW HIGH GROUND and is currently at $1,036.30! That price broke through the previous all-time high of $1,033.90 achieved on March 17, 2008. What is causing this recent price rise and will it be [...]
Gold’s Record Monthly Close: Technically Significant
October 2, 2009 by goldguru · Leave a Comment
Mark O’Byrne submits: Gold: Gold is down slightly this morning but still continuing to knock on the door and consolidating near the psychological $1,000/oz mark. The gold market will probably be relatively quiet until the release of US non- farm payroll data this afternoon. Depending on the figures, which are expected to be quite poor, [...]
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