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Economic development group to meet in Prosser	00:13 Tri-City Herald, Washington - Business
Japan output unexpectedly falls, weak yen benefits awaited	00:12 South China Morning Post - Commodities
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U.S. investors are wary, despite stable economy	00:08 The Philadelphia Inquirer, Pennsylvania - Business
Economy crawling at year-end	00:06 The Journal Gazette, Indiana - Business
FOREX-Euro edges down on Cyprus worries, Italy political deadlock	00:05 Reuters - Economy
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Economic Events - Today's Events	00:02 MoneyAM
Economic Events - 7 Days Ahead Events	00:02 MoneyAM
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Economic Calendar \| March 29	00:01 San Diego Daily Transcript - Finance
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Currency Markets Drift as Liquidity Drains Before Easter Holiday	23:59 Daily FX
A shining light of economic growth	23:54 China Daily - BizChina
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Euro bounces slightly, but Italy deadlock weighs	23:40 The Economic Times - Markets
Swan hails Australia economy as it keeps AAA rating	23:32 Channel NewsAsia - Business
Gold down, fuel up in Kabul	23:27 Wadsam
Economy grew 0.4% in 2012's 4th quarter	23:26 The Courier-Journal, Kentucky - Business
Forex: EUR slips by the Tokyo close	23:25 FXstreet - Forex News
1 to 2 hours old www.usagold.com --LIVE NEWS--
'India on track to become 5th economic power by 2020-25'	23:14 Khaleej Times - Business
Forex: GBP/USD holding around 1.5200	23:05 FXstreet - Forex News
Current account deficit hits record high, signals economic flashpoint	22:54 The Times of India
Gold inches down, on track for 5 pc quarterly drop	22:49 The Economic Times - Markets
Session Recap: Japan data disappoints; Yen advances a bit	22:45 FXstreet - Forex News
Asian Currencies Poised for Best Week in Two Months on Recovery	22:18 Bloomberg - Markets
Why Brown-Forman's Earnings May Not Be So Hot	22:15 The Motley Fool
Forex: EUR/USD sets the 1.2810 level as an inflection point	22:15 FXstreet - Forex News
2 to 4 hours old www.usagold.com --LIVE NEWS--
Currencies: Dollar advances in quiet holiday trade	22:04 MarketWatch
S&P beats 2007 high, recoups loss in recession	21:47 Columbus Dispatch, Ohio
OECD applauds 'Abenomics,' sharply upgrades economic outlook	21:41 The Japan Times - Business
Codelco's copper sales revenues down 10.7% y-o-y in 2012	21:41 Metal Bulletin
Easing of Cyprus worries sends gold futures lower	21:37 Columbus Dispatch, Ohio
Romain Hatchuel: What's French for 'Economic Nonsense'?	21:37 The Wall Street Journal
Growth in euro bloc too slow, warns think tank	21:33 Belfast Telegraph
Treasuries Fall a Second Quarter Amid Improving Economy	21:28 Bloomberg - Worldwide
Euro firms in Asia but eurozone fears weigh	21:23 The News International - Business
FOREX-Euro bounces slightly, but Italy deadlock weighs	21:12 Reuters.co.uk - Currencies - US Dollar
Japan output unexpectedly falls; weak yen benefits awaited	21:04 Reuters - Economy
Forex: EUR/JPY gravitating around 120.70	21:04 FXstreet - Forex News
Asia stocks modestly higher after S&P hits record	20:52 San Luis Obispo, California - Financial Markets
Asia stocks modestly higher; Nikkei, yen slip	20:51 Yahoo! US - Business
Dollar Looks to Close Sixth Bullish Quarter, What are the Drivers Ahead?	20:29 Daily FX
4 to 6 hours old www.usagold.com --LIVE NEWS--
Forex: EUR/USD capped below 1.2840	20:14 FXstreet - Forex News
Codelco's copper sales revenues down 10.7% in 2012	20:10 Metal Bulletin
ECB needs to work harder to provide extra support for eurozone	20:06 Business Times Online - Transport
Q4 economy grows 0.4%, beats earlier estimates	20:06 Business Times Online - Transport
Sales of recreational vehicles rebound from recession	20:03 Milwaukee Journal Sentinel - Wisconsin
Forex Flash: Seasonal patterns tend to favor JPY in Mar/Apr/May period – TDS	19:54 FXstreet - Forex News
Swan praises 'gold-plated' Aust economy	19:50 The West Australian - National
Gold prices down 50 baht	19:46 Bangkok Post
Xi meets with US treasury secretary	19:43 China Economic Review
Stocks set another record, beating pre-recession mark	19:39 Star-Telegram, Texas - Business
Sterling Jewelers parent beats fourth-quarter estimates	19:34 Akron Beacon Journal, Ohio - Business

Gold Consolidates Around $1600 Ahead of Long Weekend

by Peter A. Grant

Mar 28, AM
(from USAGOLD.com) --

Gold remains choppy around the $1600 level ahead of the long holiday weekend. The yellow metal eased along with the dollar as the euro rebounded back above the 1.28 level.

The reopening of Cypriot banks after a nearly two-week "bank holiday" went fairly smoothly, but tensions remain high. Banking transactions are severely limited by capital controls and this is expected to be the case for some time as a means to prevent a wholesale withdrawal of deposits.

However, it would a lot of euros managed to escape confiscation. According to Reuters, "No one knows exactly how much money has left Cyprus' banks, or where it has gone." Laiki and Bank of Cyprus branches in London "remained open throughout the week and placed no limits on withdrawals." Additionally, Bank of Cyprus owns 80% of Russia's Uniastrum Bank, which put no restrictions on withdrawals in Russia. Makes one wonder if these loopholes were intentional or just a colossal oversight.

Analyst and author John Maulden quotes a well connected European source in his Thoughts From the Frontline newsletter, who suggests the eurozone "bank-deposit guarantee is worthless in a number of cases." There is no deposit insurance mechanism for the eurozone as a whole, mostly because Germans know that if such a thing were implemented, they'd be left holding the bag. It is therefore up to the individual countries to provide the insurance for depositors and clearly there are a number of countries that simply don't have the money to do so.

Depositors in places like Greece, Italy, Spain, Portugal, Ireland and even France, would be well advised to reevaluate their risks with a far more critical eye. What I found particularly unnerving about the events over the last two-weeks is that banks deposits — particularly those over any deposit insurance threshold — are suddenly considered an "investment" in the bank, subject to losses if things turn sour. And yet, apparently not subject to gains if the bank is doing well.

Depositors in the U.S. should go through the same exercise, because you now assume your bank deposits are safe at your own peril. I'm sure many in Cyprus made that miscalculation only to wake up last week to find their bank closed, and the Cypriot government and the troika negotiating over how much of their money would be confiscated.

Most of our clients buy gold for the purposes of long-term wealth preservation, it is a form of savings to them. Perhaps more importantly, in light of what's transpiring in Cyprus, it is savings removed from the banking system.

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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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Gold Consolidates Around $1600 Ahead of Long Weekend