Live London Gold News Wire

NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Tennent's Turns T to Gold	17:03 PR Newswire (Press Release) - General Business
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Forex: EUR/USD Closes At 7-Week Highs Near 1.3100	16:59 SeekingAlpha - Macro View
The US Housing Buyer-Seller Curve Is Looking Bullish	16:58 Business Insider - Finance
NZ dollar creeps higher after RBA rate cut	16:57 Business Spectator
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Phoenix Gold impresses with widest gold intercept at Castle Hill	16:48 Proactiveinvestors - Australia
Mutiny Gold to brief market on project funding negotiations	16:48 Proactiveinvestors - Australia
Forex: USD/SGD around 14-month lows above 1.2150	16:48 FXstreet - Forex News
Forex: USD/JPY testing neckline; bearish sub-82.20 – V.Bednarik	16:48 FXstreet - Forex News
Euro Reaches 6-Week Peak	16:39 SeekingAlpha - Macro View
Buxton Resources to report Widowmaker nickel/copper results	16:38 Proactiveinvestors - Australia
Gold falls to month’s low on US fiscal cliff worries	16:36 The Economic Times - Markets
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Cap & Tax: California's Recipe To Feed The Texas Economy	16:31 Forbes.com - Opinion
Come On, President Obama, Your Economic Policies Aren't Even Keynesian	16:31 Forbes.com - Opinion
Euro keeps pushing higher against dollar	16:28 Channel NewsAsia - Business
Better economic performance due to Economic Transformation Programme	16:22 The Star Online
Higher in Economic Freedom Malaysia jumps seven places to 71 in ranking	16:22 The Star Online
UK institute predicts less robust economic growth for Malaysia	16:22 The Star Online
Top Fla. economic official resigns amid questions	16:18 Miami Herald - Business
Gold drops under $1,700	16:15 UPI - Security & Terrorism
Does government spending really promote economic growth?	16:10 Christian Science Monitor - Work & Money
Currency swap deal	16:08 The Telegraph, Calcutta - Business
TSX closes lower amid falling oil and gold prices	16:08 Canada.com
Viking Ashanti gets high grade gold hit in Ghana	16:08 Proactiveinvestors - Australia
A Wikileaks Cable Explained The Money Laundering Formula That Turned Macau Into A Gigantic Economic Success	16:08 Business Insider - Finance
Forex: AUD/USD surge set to extend? AU Q3 GDP eyed	16:08 FXstreet - Forex News
1 to 2 hours old www.usagold.com --LIVE NEWS--
Montenegro's new PM says EU, economy are priorities	15:59 EUbusiness.com
Forex: Swissy negative rates vs RBA easing outlook, opportunity on AUD vs CHF?	15:58 FXstreet - Forex News
Battered gold pushes South African stocks lower	15:57 Moneyweb - Across the Atlantic
FOREX-Euro firm vs USD; AUD bulls give RBA the brush off	15:55 Reuters.co.uk - Currencies - Asian Currency
Family Dollar paying dividend early	15:52 The Charlotte Observer - Business
Column : Where did the rupee go?	15:51 The Financial Express - Editorials & Columns
Column : Europe’s economic war of attrition	15:51 The Financial Express - Editorials & Columns
Scott's Liquid Gold of Denver responds to shareholder criticism	15:51 Denver Post, Colorado - Business
A Mighty Wind Can Blur Economic Picture	15:51 The Wall Street Journal
Discovery Bets Europe Will Pay Off as Economy Revives	15:48 Fox Business - Industries
Obama Would ‘Love’ a Business Leader on Team	15:46 Bloomberg - Politics
Dollar rises despite interest rate cut	15:44 ABC Online
Gold Stumbles $25 As Funds Sell Aggressively	15:40 Investors Business Daily - Investing
Forex Flash: NZD/USD should keep sideways range intact – BNZ	15:37 FXstreet - Forex News
Silver Springs meeting set	15:37 Ocala Star Banner, Florida - Editorials
USD Off Against All But One Major Currency	15:34 ForexPros.com
Japanese Candidates Kick Off Campaign with Focus on Economy, Nuclear Power	15:33 Energy Tribune
TSX lower, economic worries send oil prices down	15:32 CTV.ca
What Bernanke, Marc Faber's Bathroom And Gold All Have In Common	15:29 SeekingAlpha - Macro View
Aphrodite Gold drilling finds significant gold grades and widths at Epsilon	15:28 Proactiveinvestors - Australia
New inflation measure proposed by GOP would mean smaller Social Security COLAs, higher taxes	15:25 Orlando Sentinel, Florida
US banks report best profits in 6 years and more lending but remain concerned about economy	15:21 The Washington Post
Japan Is Cheap, But Watch The Yen	15:14 ForexPros.com
10 Stocks With Bullish Institutional And Insider Buying Activities	15:10 The Street - Markets
New inflation gauge would cut benefits, hike taxes	15:09 Ocala Star Banner, Florida - Business

Morning Snapshot

by Peter A. Grant

Dec 04, AM
(from USAGOLD.com) --

Gold was pushed back below the $1700 level in overseas trading, negating support at 1705.68/1703.87 along the way. The dollar has also fallen to new 6-week lows on mounting concerns over continued lack of progress on the fiscal cliff/debt ceiling negotiations.

It's interesting how gold and the dollar have become pretty tightly correlated of late. By comparison, gold's recent correlation with the euro seems to have fallen by the wayside. The single currency has jumped to new 7-week highs, to threaten the fall highs at 1.3138/68 amid a sense that the eurozone debt crisis has stabilized somewhat with the latest Greek deal and as attention shifts — for the time being anyway — to the U.S. debt crisis.

As we've pointed out many times in the past, gold can initially trade like a risk asset in times of uncertainty or amid mounting tail risks, as price discovery happens in the paper market. However, gold in its physical form is still the ultimate safe-haven asset as there is no counterparty risk. Physical buyers tend to jump in and buy when the price is pushed lower in the paper market. We've seen that this morning.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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