Dollar Wobbles on Chinese Currency Diversification Concerns

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 [...]

The Golden Road Out of Financial Crisis

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 [...]

Boomers Have Their Backs Against the Wall

The Daily Reckoning Two important items in the news today: First, Bloomberg reports that retails sales fell 2.1% in September – the biggest decrease this year. Know what that means? It means the “Age of Thrift” is here…and that consumers really are cutting back – just like we said they would. And it means that [...]

Gold Touches a New Record

The Daily Reckoning “Gold continues to climb…stoked by inflation worries,” says a headline in the International Herald Tribune. Yesterday, it touched a new record – $1,050 – even as the dollar rose, oil slumped under $70 and stocks dipped very slightly. Well, what do you expect? The United States added $1 trillion to its monetary [...]

US Dollar in Need of a Tourniquet

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?

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 [...]

Beware Fortune’s Gold Warning

It was hardly a surprise to see a Wall Street mouthpiece come out with an anti-gold attack on the day that gold reached a new, nominal record-high. What is a surprise is how utterly pathetic was this counter-attack. For those that missed it, Fortune magazine put out a piece yesterday titled “Beware the Gold Bubble”. [...]

Potential End of Dollar-based Oil Deals Helps Gold Shine

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 [...]

Capital Gold Group Report: $100 BILLION IN BANK FAILURES COMING; FDIC FUND STANDS AT $10.4 BILLION AS OF JUNE ’09

FDIC says bank failures to cost around $100B By MARCY GORDON, AP Business Writer Marcy Gordon, Ap Business Writer – 2 hrs 10 mins ago WASHINGTON – Regulators expect the cost of bank failures to grow to about $100 billion over the next four years — up from an earlier estimate of $70 billion. Faced with that sobering news, [...]

Silver Money

Bullion Vault Did cutting silver out of the money system lead to killing the Gold Standard…? RECENTLY Tom Jeffries of HoweStreet.com spoke to David Morgan of Silver-Investor.com about the role of gold and silver as units of money and currency.HoweStreet: Everybody’s talking about gold’s place in the “new world order”. But let’s not get spooky, folks. How [...]

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