Live London Gold News Wire

NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
BSE Sensex surges 137 points on Economic Survey growth outlook	04:18 Indian Express
Take more steps to curb gold imports: Survey	04:18 The Hindu - Business
How to fix US debt without hurting fragile economy	04:18 Associated Press - Business
Gold demand jumps on fears of higher import duty	04:18 MoneyControl.com
Bean defends BoE’s inflation policy	04:18 FT.com - UK Economy
Chinese antimony metal smelters raising offer prices	04:15 Metal-Pages
5 to 10 minutes old www.usagold.com --LIVE NEWS--
The Only Ones Who Recovered from the Recession are the Top 1%	04:14 The Economic Populist (Weblog)
Economic Survey 2013: Lift FDI barriers in legal, accountancy services	04:12 The Economic Times
Economic Survey 2013: Check over-use of urea, boost consumption of P&K fertilisers	04:12 The Economic Times
Economic Survey 2013: Resource crunch hurdle in sustainable development	04:12 The Economic Times
Economic Survey 2013: Direct Benefit Transfer scheme not to substitute for delivery of public services	04:12 The Economic Times
ECB crisis steps less and less effective: Praet	04:11 Business Times Online - World
ARM bullish on iron ore, optimistic about SA	04:10 Business Day - Companies
Britain’s economy shrinks in late 2012, recession in sight	04:10 The Globe and Mail
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Forex Flash: USD/JPY down on recapitulation in global risk appetite - OCBC Bank	04:09 FXstreet - Forex News
Forex Flash: Bernanke testimony likely to mirror previous one – UBS	04:09 FXstreet - Forex News
Economic Survey 2013: Indian stocks gave second highest returns globally in 2012	04:09 The Economic Times - Stock Markets
Economic Survey 2013: corporate debt declines	04:08 The Hindu - Business
ECB crisis steps less and less effective - Praet	04:06 Yahoo! UK & Ireland
Patagonia Gold raises gross proceeds of 6.2m pounds	04:06 ShareCast
A slither of hope: UK economy predicted to grow in 2013	04:05 The Manufacturer
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Readers Remark On Airbnb and the Share Economy	04:04 Forbes.com
Antigua economy shows signs of recovery	04:02 Jamaica Gleaner - Business
GENAC says it's ready for economic headwinds	04:02 Jamaica Gleaner - Business
Just how far will sterling fall?	04:01 MoneyWeek
Economic Survey 2013: Efforts to improve industrial relations bore fruit	03:59 The Economic Times
Euro Stays Higher Versus Dollar After Italy Holds Bond Auctions	03:58 Bloomberg - Markets - Currencies
Introduce inflation-indexed bonds, suggests Survey	03:58 The Hindu Business Line - Industry & Economy
Survey calls for more steps to curb gold imports	03:58 The Hindu Business Line - Industry & Economy
Peru’s El Brocal reports y-o-y copper, zinc, lead sales decreases in 2012	03:53 Metal Bulletin
UK economy shrank 0.3% in Q4 2012	03:53 Moneyweb - Across the Atlantic
Economic Survey 2013: India Inc raised Rs 4,974 crore in corporate debt category	03:52 The Economic Times
Economic Survey 2013: Govt takes steps to improve interaction with rating agencies	03:52 The Economic Times
Economic Survey 2013: Marginal rise in cargo traffic in Apr-Sept 2012	03:52 The Economic Times
Economic Survey 2013: Air India's performance has improved	03:52 The Economic Times
US economy shows strength	03:50 Telegram & Gazette, Massachusetts - Business
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Air India’s performance has improved: Economic Survey	03:47 The Hindu Business Line - Industry & Economy
Economic Survey 2103: India Inc sees sales growth fall by more than half in Jul-Sept	03:47 Indian Express
Investors fret that Italy may undermine ECB backstop	03:47 Reuters - Business
UK economy shrank in late 2012, recession in sight	03:47 Daily Press, Virginia - Business
Gold imports likely to fall on lower inflation: Rajan	03:47 MoneyControl.com
REUTERS SUMMIT-No broad "bail-in" for Cyprus depositors, ECB says	03:44 Reuters - Economy
Thailand posts record trade deficit	03:44 FT.com - Blogs - beyondbrics
Markets stage recovery on economic growth hopes	03:43 The Business Standard
UK economy grew by more than anticipated in 2012	03:42 EN for Business
Economic Survey 2013: Difference between Rajan's and Kaushik Basu's approach	03:40 The Times of India - Indicators
Economic Survey 2013: India in a difficult not impossible situation, says Raghuram Rajan	03:40 The Times of India - Indicators
Economic Survey 2013: Mixed signals on industrial production	03:40 The Times of India - Indicators
UK struggles to rebalance economy	03:39 FT.com - UK Economy
Forex: GBP/USD calm after BoE's Bean inflation comment	03:38 FXstreet - Forex News

Gold Regains $1600

by Peter A. Grant

Feb 26, AM
(from USAGOLD.com) --

Gold has pushed decisively back above the $1600 level, buoyed by renewed political uncertainty in Europe and a clarification by Fed chairman Bernanke on The Hill today about Fed policy. Additionally, BoE Deputy Governor Paul Tucker indicated that he was open to additional quantitative measures as well.

Much of the sell-off in gold last week was attributable to the minutes of the January FOMC meeting, which once again revealed some concern about the cost and effectiveness of the Fed's QE program. At the time I wrote that "some FOMC members will continue to feign consternation about the Fed's exploding balance sheet, but in reality the die is cast."

Today before the Senate Banking Committee, Bernanke testified unequivocally that the benefits of QE continue to outweigh the costs. Those costs are now in excess of $3 trillion, and still growing.

Bernanke went on to reiterate the guidance established by the FOMC back in December. "The FOMC has indicated that it will continue purchases until it observes a substantial improvement in the outlook for the labor market in a context of price stability," Bernanke said in his prepared statement. That means, foot on the monetary pedal until the unemployment rate drops to 6.5%, unless PCE rises above 2.5%.

So what we're seeing today is an unwinding of the Fed tightening concerns that emerged last week. The realization that the Fed remains committed to QE provides further evidence that while gold remains within the range that has dominated for more than a year, the underlying trend remains bullish.

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

"There is much wisdom between the covers of this book."

Practical guidelines for adding gold to your portfolio from the founder of USAGOLD - forty years in the business.

Seven reasons
high-net worth gold
investors choose
USAGOLD

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

Wednesday February 27
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 Regains $1600