Live London Gold News Wire

5 to 10 minutes old www.usagold.com --LIVE NEWS--
Forex: USD/JPY holding above 92.00	16:27 FXstreet - Forex News
Under the volcano: Iceland’s economy is recovering from crisis but its people bear the scars	16:25 FT.com - Global Economy
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Panel: Future of economy still cloudy	16:18 San Diego Daily Transcript - San Diego
Forex Flash: Time to sell USD/JPY? - TDS	16:17 FXstreet - Forex News
Laconia Resources finds further gold/silver targets at Peruvian project	16:09 Proactiveinvestors - Australia
Citigroup to repay US Treasury via US$894m bond issue	16:07 Business Times Online - Companies
NY cotton pulls back from highs as dollar, stocks rise	16:06 Reuters - Consumer Goods & Retail
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
FOREX-Euro rally loses steam, Aussie eyes RBA	16:03 Reuters.co.uk - Currencies - Asian Currency
Uncertainty is bullish for stocks: Bernstein	16:03 InvestmentNews.com
Tideway Global Navigator steers away from sterling	16:02 Portfolio Adviser
Luiri Gold to reveal capital raising	15:59 Proactiveinvestors - Australia
Yen levels/orders	15:57 ForexLive.com
Forex: EUR/AUD eases below 1.30 on Euro weakness	15:57 FXstreet - Forex News
Future of economy still cloudy according to panel	15:57 San Diego Daily Transcript - Government
France wants to avoid euro rate 'offensive': Moscovici	15:56 Channel NewsAsia - Business
Sophia Young of Silver Stars sustains injury	15:56 San Antonio Business Journal
Leaders knew currency union facilitates trade	15:56 FT.com - Comment & Analysis - Letters
India loses second fastest-growing economy tag	15:53 The Economic Times - Economy
Robots Taking Jobs From Every Sector of the Economy	15:46 Money Morning
Currency Diversification With ETFs	15:46 SeekingAlpha - ETFs & Portfolio Strategy
US Treasury bond market at a glance	15:43 St. Paul Pioneer Press, Minnesota - Business
Fiscal consolidation measures may avert downgrade but may hurt economy further	15:37 The Economic Times
IMF forecasts 4.5% grwoth for India; loses second fastest-growing economy tag	15:37 The Economic Times
Forex Flash: No RBA cut today, but likely in the coming months - NAB	15:36 FXstreet - Forex News
CEO retires at fast-expanding Silver Airways	15:35 Bizjournals
1 to 2 hours old www.usagold.com --LIVE NEWS--
Aussie Strengthens Before Rate Announcement; N.Z. Dollar Drops	15:25 Bloomberg - Regions
ECB told to double its manpower	15:20 FT.com - Asia
Canadian Bullion Services, Danny Kroll, to Appear on Fairchild TV	15:19 Yahoo! US - Business - Press Releases
Brown tweet on Superdome offends everyone who remembers Katrina cleanup disaster	15:19 UPI - Security & Terrorism
Tobacco-Fueled Price Gains Cloud Future Inflation: Turkey Credit	15:19 Bloomberg - Markets - Bonds
Forex: EUR/USD capped by political smoke; Down to 1.3500	15:15 FXstreet - Forex News
A Day in the Life of a Gold Stock Investor	15:13 The Motley Fool
Erongo Energy see strong gold mineralisation in the DRC	15:06 Proactiveinvestors - Australia
Treasury Forecasts $16.763 Trillion In Debt On March 31 Translating To 105% Debt/GDP	15:03 Zero Hedge
Companies With Economic Moats For The Next Stock Market Pullback	14:57 SeekingAlpha - Long & Short Ideas
Kirkland Lake Gold gains as production growth expected at Macassa - UPDATE	14:55 Proactiveinvestors
Euro to Weaken to 10-Week Lows Over Next Year, Wells Fargo Says	14:52 Bloomberg - Markets
Silver Promotion Service Presents Valentine's Top Jewelry Trends	14:51 PR Newswire (Press Release) - General Business
Euro anxiety takes TSX lower	14:47 Toronto Star - Economy
Sandia Labs reveals local economic impact for FY 2012	14:44 Bizjournals
ASB Quarterly Economic Forecast February 2013	14:38 Scoop - Business
FOREX-Euro sinks as political worries renew debt crisis concerns	14:38 Reuters - Economy
Evening markets: firm dollar drags on ags - except soybeans	14:35 Agrimoney.com
2 to 4 hours old www.usagold.com --LIVE NEWS--
New Zealand dollar rises amid European fears	14:31 Business Spectator
Dollar lower ahead of rates decision	14:30 The Age
Gold Rises, Wheat Falls	14:22 The Motley Fool
Gold Rallies As Stocks Suffer Worst Day Of 2013	14:22 Zero Hedge
FRBSF Economic Letter: Long-term Unemployment	14:16 Economist's View (Weblog)
Wall Street Pounded in Euro-Fueled Selloff	14:16 Fox Business - Business
Visa probed over currency conversions	14:15 FT.com - Financial Services

Gold Firms, Most Notably Versus Yen

by Peter A. Grant

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

Gold is modestly better against the dollar as the new week begins, but has set another round of new 32-year highs against the yen. The yen fell to fresh 34-month lows against the greenback as the perception that the BoJ caved to political pressure continues to weigh heavily on the yen.

You may recall that Japan's new Prime Minister had threatened to nationalize the central bank if they weren't forthcoming with monetary policy that he deemed was a serious attempt to check deflation. They subsequently doubled their inflation target to 2% and essentially pledged unlimited asset purchase toward that end. This triggered the unwinding of safe-haven yen trades, while simultaneously reigniting interest in the yen as a funding currency.

The yen carry trade fell out of favor during the global financial crisis that began in 2008, when risk appetite evaporated and investors turned to the yen as a safe-haven. In today's environment of improved risk appetite and a central bank and government set on debasing the currency, the yen is no longer a haven. Additionally, borrowing yen at ultra-low rates and then converting (selling) those yen to other currencies and buying risk assets is suddenly back in vogue.

In a world where most of the major economies of the world are desirous of a weaker currency, BoJ policy of late has simply stolen the show. Or perhaps more importantly, it is the loss of central bank autonomy. The notion that politicians now have their hands on the monetary policy levers, is understandably disturbing.

And speaking of politicians mucking up the works: Twin scandals in Spain and Italy have suddenly brought the European debt crisis back to the fore.

Spain's Prime Minister Marion Rajoy has been implicated in a slush fund scandal, undermining confidence in himself and his Popular party. The opposition parties and voters are outraged and the resulting political uncertainty has caused Spanish yields to surge.

Meanwhile in Italy, the scandal surrounding the bailout of Monte Paschi bank and derivatives trades that were seemingly designed to hide the dire situation at the bank, seems to be widening. The leader of Italy's Democratic Party has close ties to Monte Paschi. Peier Luigi Bersani, who has been leading in the polls ahead of the upcoming general election has seen that lead narrow recently. Again, the resulting uncertainty has forced yields higher.

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

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

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

Monday February 4
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 Firms, Most Notably Versus Yen