Live London Gold News Wire

30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Yuan ends flat vs dlr as year-end approaches	03:06 The Economic Times - Markets
Port strike to have dire economic consequences, US Maritime Alliance warns	02:58 Metal-Pages
China Jan-Nov 2012 unwrought antimony exports up 73.07%	02:58 Metal-Pages
China Jan-Nov 2012 antimony oxide exports down 5.62%	02:58 Metal-Pages
Yen hits 20-month low against US dollar	02:56 The National - Business
1 to 2 hours old www.usagold.com --LIVE NEWS--
Back To The Economy Of The '90s? Not So Fast	02:09 NPR - Economy
Forex Prices at 09:00	02:03 MoneyAM
China's fishery economy to grow 15%: ministry	02:03 China Daily - Industries
Sisi - Egypt's Economy Witnesses a Very Difficult Stage	01:58 AllAfrica.com
Chinese prefer yuan than foreign currency	01:43 China Daily - Markets
Earlier Today www.usagold.com --LIVE NEWS--
Our urgent need for economic development	01:36 Brattleboro Reformer, Vermont - Sports
Economic Group - Nation's Economy Has Ability to Grow	01:28 AllAfrica.com
The regular Foreign Currency Auction: December 25, 2012	01:26 InfoMongolia.com - Business & Economics
India, China key to growth in 2013 as global economy stares at fiscal cliff	01:18 The Economic Times - International Business
Debt Darkness Of 2013 Has A Silver Lining	01:16 ForexPros.com
Japan new PM wants to correct strong yen trend	01:16 The Economic Times - Economy
Yen on defensive on US fiscal worry, helps Nikkei	01:03 Business Day - Markets
Japan new PM Abe wants to correct strong yen trend	00:57 Reuters - Economy
UBS Gets Cash While Connecticut Economy Falters	00:50 Here Is The City
Euro Sinks As Fiscal Cliff Agreement Looks Less Likely	00:46 ForexPros.com
Daily Forex And Dow Jones Recommended Levels: December 25, 2012	00:36 ForexPros.com
Sluggish global economy stares at fiscal cliff	00:31 Indian Express
Yen hits 20-mth low vs dlr over BOJ concerns	00:15 The Economic Times - Economy
Nikkei rises 1.4%, exporters gain on weaker yen	00:15 The Economic Times - Markets
Oh, Oh, Oh: Dubai gold price slumps to Dh187 as Christmas fails to cheer investors	00:15 Emirates 24/7 - Columns
Retail sales up despite bumpy holiday season	00:09 Denver Post, Colorado - Business
U.S. budget woes weigh on stocks, yen …	00:08 Yahoo! India
Public works in Japan extra budget unlikely to top 5 trln yen	00:07 Reuters - Economy
Nikkei rises 1.4 pct in thin trade, exporters gain on weaker yen	00:06 Reuters - Noticias de Mercados
Yen hits 20-mth low vs dollar over BOJ concerns	00:05 The Economic Times - Markets
Economic Events - Month Ahead Events	00:03 MoneyAM
Economic Events - Tomorrow's Events	00:03 MoneyAM
Economic Events - Today's Events	00:03 MoneyAM
Economic Events - 7 Days Ahead Events	00:03 MoneyAM
Gold Near Flat In Pre-Christmas Session; Fiscal Cliff In Focus	00:02 IBTimes.co.uk - Economy
2 to 4 hours old www.usagold.com --LIVE NEWS--
Is The Latest Pullback In Gold/Silver Over?	23:56 ForexPros.com
GLOBAL MARKETS-Yen on defensive on U.S. fiscal worry, helps Nikkei	23:43 Fox Business - Tech & Gadgets
4 to 6 hours old www.usagold.com --LIVE NEWS--
Following results of 2012, Kyrgyz economy fall forecasted at 1.5 percent	23:37 24kg.org - Business
A source of warmth amid economic chill	23:37 China.org.cn - Business
Spain’s economy will grow again in 2014: Rajoy	23:36 Gulf News - Business
Bill Black: Kill the “Fiscal Cliff” Instead of the Economy	23:36 naked capitalism
Entrepreneurship: Economic hopes for the new year	23:35 Florida Today
Yen on defensive on U.S. fiscal worry, helps Nikkei	23:35 Fox Business - Industries
Toyota chief says yen just correcting	23:29 MarketWatch
Nikkei rises 1.4 pct as exporters gain on weaker yen	23:17 Reuters - Economy
Nikkei rises in thin trade, exporters gain on weaker yen	23:06 Business Recorder, Pakistan
Japan stocks rally on weaker yen; Nikkei Average finishes 1.4% higher	23:04 MarketWatch - Commentary
Japan’s Ruling LDP Agrees on 2% Inflation Target With Ally	22:59 Bloomberg - Markets - Currencies
Vietnam Grows at Slowest Pace Since ’99 on Credit Slump: Economy	22:59 Bloomberg - Markets - Currencies
Japan stocks rally as yen continues to weaken	22:59 Omaha World-Herald, Nebraska

Gold Dives Deeper into Range

by Peter A. Grant

Dec 20, AM
(from USAGOLD.com) --

Gold came under renewed selling pressure on Thursday, weighed by a bigger than expected upward revision to U.S. Q3 GDP, which diminished the yellow metal's appeal as a safe-haven. Gold fell to a new four month low, pushing below the 200-day moving average and leaving the market fully entrenched in the lower half of the $400 dollar range that has dominated for the past year.

The third report for U.S. Q3 GDP came in at 3.1%, on expectations of 2.8% and 2.7% previously. With Fed QE now tied to employment, better than expected economic growth raises the possibility that the Fed may be able to remove extraordinary accommodations ahead of schedule. Right now, Fed central tendencies suggest the potential for the jobless rate to dip below the targeted 6.5% level sometime in 2015.

We've seen these kinds of so-called "green shoots" in the past (remember the "recovery summer" of 2010?) only to have harsh reality settle back over markets. With the fiscal cliff still looming and our national debt near the $16.4 trillion ceiling, there's plenty to still be worried about on the recovery front. The Fed has already committed to $85 bln in asset purchases per month beginning in January, so their balance sheet is headed toward $4 trillion. Even if we were to reach 6.5% unemployment in say late 2014, that balance sheet would be well in excess of $4 trillion by then.

As a result of this debasement, the dollar has come under pressure, dropping to new eight-month lows against the euro. The dollar index has fallen back to 79.00, levels not seen since mid-October. While the dollar and gold have become correlated in recent weeks, the more traditional relationship tends to be inverse. Once the short term speculators are flushed out of the paper market, we anticipate that gold will rebound. Physical buyers have already been taking advantage of these lower prices We've seen this play-out time and time again throughout the secular bull market.

Note: I will be on holiday beginning 21-Dec. This page will not be updated in my absence. Please see our Breaking Gold News page for updates. Merry Christmas and Happy New Year to all.

NEWSLETTER SIGN-UP

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.

Gold dealers index of gold coin images - popular investments

USAGOLD Bulletin Board

Just released!
The all new Third Edition

Chapters

Reviews

Preview

Order

The Third Edition of this classic how-to details gold's rising prominence in the global financial arena and offers insights as to what this surprising and historic shift in sentiment might mean to the gold market of the future. It also suggests practical guidelines for adding gold to your portfolio drawing from the author's nearly 40 years experience in the gold business.

"Highly recommended!"
The Midwest Book Review

1-800-869-5115
Marie, Extension #106

Looking for the right
gold firm?

Competitive rates
Safe, quick delivery
Zero complaints at BBB
Friendly, professional service
Recognized industry leader

You just found it.

USAGOLD
Celebrating our 39th year
in the gold business.

Seven reasons
high-net worth gold
investors choose
USAGOLD

Video Roundtable:
Year-In-Review and What Lies Ahead

Precious Metals Trading and Storage Program
Competition for the ETFs
with a delivery option

Gold's Secular Bull Market
Past, Present and Future

A timeline for history buffs

P.O. Box 460009
Denver, Colorado 80246-0009

1-800-869-5115 (US)
00-800-8720-8720 (EU)

303-399-6759 (Fax)

[email protected]

Office Hours

6:00am - 7:00pm
(U.S. Mountain Time)
Monday - Friday

American Numismatic Association
Member since 1975

Industry Council for Tangible Assets

zero complaints

Tuesday December 25
website support: [email protected]
Site Map - Privacy - Disclaimer
The USAGOLD logo and stylized gold coin pile are trademarks of Michael J. Kosares.
© 1997-2012 Michael J. Kosares / USAGOLD All Rights Reserved

Daily Gold Market Report

Gold Dives Deeper into Range