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Canadian Dollar Rises on Chinese Demand for Commodities	22:21 Bloomberg - Canada
Yen Drops in Longest Slump Since 1989 Amid Speculation on Japan Stimulus	22:20 Bloomberg - Regions
Japan's PM Re-Launches Key Economic Policy Council	22:20 Forbes - Home Asia
Forex: ECB Surprises, Boosts Confidence in Euro; Data Offers Support as Well	22:15 Daily FX
College grads lost less during economic slump, study shows	22:08 The News & Observer, North Carolina
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It's an unorthodox way to run biggest economy in the world	22:03 The Irish Independent - Business
MarksJarvis: Stocks reach pre-recession peak	22:03 Chicago Tribune - Business
Irish banks now less dependent on aid from ECB	22:01 The Irish Independent - Irish Business News
Lippo Karawaci Sells $130m in Dollar Bonds	21:35 Jakarta Globe - Business
Indian rupee falls marginally	21:25 Times of Oman
Facing recession challenge, ECB shifts crisis gear	21:25 Times of Oman
Austrian chancellor attacks Britain's Cameron over EU	21:23 EUbusiness.com
Albula Investment Fund sells 5.12 Lk shrs of Nissan Copper	21:22 MoneyControl.com
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Forex: Dollar Suffers Critical Breaks but Risk Trends May Salvage It	21:15 Daily FX
Forex reserves slip by $1.6 bn to $294.99 bn	21:07 Business Today - Economy
Business briefs: Hostess sells its bread business, U.S. trade deficit widens even further	20:54 Star-Telegram, Texas - Business
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Silver Standard Resources Makes Notable Cross Below Critical Moving Average	20:10 Forbes
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U.S. Trade Deficit Expands to a Seven-Month High	20:03 The New York Times - Technology
Oil slips as China inflation picks up	19:48 South China Morning Post - Commodities
China inflation rises to 2.5pc	19:35 Gulf Daily News - Business
US trade deficit widens over surge in imports	19:35 Gulf Daily News - Business
ECB takes rate cuts off table as Eurozone crisis eases	19:30 The News International - Business
‘France has fallen into mild recession’	19:30 The News International - Business
China’s 2012 inflation rate slows, risks seen rising	19:30 The News International - Business
Japanese PM leans on Bank of Japan as govt launches big economic stimulus	19:30 The News International - Business
Rupee remains unchanged	19:30 The News International - Business
Weekly inflation goes up	19:30 The News International - Business
Trade deficit narrows by 14pc in Jul-Dec FY13	19:30 The News International - Business
BURSA MALAYSIA: Share Prices To Continue Bullish Trend Next Week	19:19 Bernama - Malaysian National News Agency - Markets
New US Treasury secretary untested, largely unknown	19:13 ABS-CBNNEWS.COM - Business
Zakhilwal, Ghani seek US economic support	19:05 Wadsam
High Andes site tests abilities, limits of mining for Barrick Gold	19:02 Vancouver Sun
Cold winter puts a chill on China's economy	18:59 LA Times
Will Silver Wheaton Shine Brighter in 2013?	18:58 The Motley Fool
What's behind China's slowing forex reserves?	18:52 China Daily - Markets
Irvine chamber hosts economic forecast event	18:45 The Orange County Register
3 Things Gold Investors Should Pay Attention To This Month	18:39 Business Insider - Finance
Everyone Isn't Bearish on Baidu	18:38 The Motley Fool
Sterling Financial Corporation of Spokane, Wash., Announces Date for 2012 Fourth-Quarter and Year-End Earnings Release and Conference Call	18:32 Business Wire (Press Release)

Gold Retreats, but Long-Term Trend Remains Sound

by Peter A. Grant

Jan 11, AM
(from USAGOLD.com) --

Gold has retreated, retracing yesterday's solid gains, as choppy trading within well established range persists. The yellow metal is being weighed by a modest bid in the dollar and long liquidations after gold failed to build on yesterday's gains, leaving last week's high 1694.92 and the midpoint of the year-long range at 1721.61 well protected. Action remains further confined by last week's range.

Gold did succeed in setting a new all-time high against the yen this week at ¥149,551.96 as monetary and fiscal policy in Japan suddenly seems to be overshadowing the accommodative stances of the Fed, ECB and BoE. Today Japanese PM Shinzo Abe unveiled a ¥10.3 trillion fiscal stimulus package, while continuing to pressure the BoJ to cut loose with “a bold monetary policy” to further stimulate the economy and drive real price inflation to Abe's target of 2%.

During a question and answer session after a speech on Thursday, St. Louis Fed President James Bullard said he's a "little disturbed" by Japan's exchange rate policy. Well sure, the Fed has expended trillions of dollars in recent years to keep rates pegged near zero; the perhaps not so subtle intent being to drive down the value of the dollar. It is understandably disturbing when a major trading partner steals the show and is more effective at debasing the yen than the Fed has been at undermining the dollar. In fact, the yen plunged to new multi-year lows against all of the major currencies this week.

The findings of the Official Monetary and Financial Institutions Forum (OMFIF), where published by the World Gold Council today. The OMFIF is think tank made up of "a wide-ranging group of central banks, sovereign funds and other public sector asset managers, supervisory and regulatory bodies, financial policy-makers, public sector debt agencies." The report entitled Gold, the renminbi and the multi-currency reserve system warns of a "coming dollar shock" and advocates for the re-monetization of gold as part of a multi-currency reserve system.

The OMFIF deems gold worth for inclusion in any such new regime because it has historically fostered confidence and stability in monetary systems. The report goes on to say:

"If the spectre of collapse continues to haunt the main reserve assets, and on the expectation that the renminbi will take time to get into its stride, the world will rush to safe havens. Gold may be the only one with the requisite size, clout and – dare I say it – history to help ward off the strains that will beset the world monetary system. It would be wise to draw up contingency plans for such eventualities."

The use of gold to fill the vacuum as the reserve system goes through its changes would understandably increase demand for the precious metal, perpetuating the the long-term secular bull market. Gold has recorded twelve consecutive annual gains. A survey conducted by the LBMA suggests that gold may advance another 14% this year.

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Gold Retreats, but Long-Term Trend Remains Sound