Sunday, August 14, 2016

Dollar Wobbles on Chinese Currency Diversification Concerns

October 27, 2009 by · 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 [...]

Gold’s New Ally

October 24, 2009 by · Leave a Comment 

The Daily Reckoning If you’ve invested in gold, you’re about to gain a powerful ally: pension funds. “I think the largest institutions like our own are realizing that we barely own any [gold]” Shayne McGuire, head of the Teacher Retirement System of Texas said in an interview in Hong Kong very early this morning. “The [...]

The Golden Road Out of Financial Crisis

October 22, 2009 by · Leave a Comment 

The Daily Reckoning “Who goes borrowing, goes sorrowing.” – Ben Franklin Today’s reckoning is going to be short. We’re on the road again…this time to Ireland where our Family office is headquartered. The quote above comes from one of America’s founding fathers. But it was recalled to us neither by America’s president, nor America’s secretary [...]

Greenlight’s Einhorn Predicted Lehman Brothers’ Fall; Buying Gold

October 21, 2009 by · Leave a Comment 

By Jennifer Ablan and Joseph A. Giannone Mon Oct 19, 2009 5:17pm EDT NEW YORK, Oct 19 (Reuters) – David Einhorn, the hedge fund manager who had warned on Lehman Brothers’ precarious finances, on Monday said he is buying gold and betting that interest rates will rise as he lambasted the U.S. government’s financial chiefs [...]

US Hyperinflation?

October 20, 2009 by · Leave a Comment 

The Daily Reckoning The finance ministers of the Eurozone met yesterday and they’ve tried to stem the euro’s (EUR) rise… But they’ll need more than words to get the job done! And so we begin a new day… Front and center this morning, the currencies – which had given background overnight to the dollar – [...]

The World’s Biggest Gold Reserves

October 20, 2009 by · Leave a Comment 

With the price of gold reaching an all-time high of over $1,050 per ounce, resourceINTELLIGENCE TV have taken the (not very novel) approach of looking at countries with the largest gold reserves As of June 2009, world gold holdings are are believed to be approximately 29,634 tonnes. But the numbers vary greatly as a percentage [...]

Gold Bullion Coin

October 19, 2009 by · Leave a Comment 

Everyone got a good hard look at precious metals investment in action over the last two weeks, as gold repeatedly surpassed it’s all-time high on consecutive days. Now that gold prices have retreated to $1055 levels, more investors are considering an investment in gold bullion coin. Bullion coins like the modern, 22-Karat, American Eagle $50 [...]

Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High

October 19, 2009 by · Leave a Comment 

By Pham-Duy Nguyen Oct. 19 (Bloomberg) — Gold’s rally to a record means prices are still 53 percent below the 1980 inflation-adjusted peak. While gold rose 19 percent this year to $1,072 an ounce on Oct. 14, consumer prices almost tripled in the past three decades, eroding the metal’s value. Bullion hasn’t kept pace with [...]

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

October 12, 2009 by · 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 [...]

A Deflation Story

October 10, 2009 by · Leave a Comment 

The Daily Reckoning “It was at Rome, on the 15th of October, 1764, as I sat musing amidst the ruins of the Capitol, while the barefooted friars were singing vespers in the Temple of Jupiter, that the idea of writing the decline and fall of the city first started to my mind.” – Edward Gibbon [...]

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