Live London Gold News Wire

NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Forex: EUR/JPY, USD/JPY: yen soars	15:09 FXstreet - Forex News
Brown & Brown reports higher first-quarter revenue, income	15:08 Business Insurance
Economy has bottomed out; markets on the mend: Kuroda	15:07 Business Times Online - World (Premium)
World Bank flags inflation danger for East Asia	15:06 Business Times Online - Premium - Top Stories
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Gold imports to fall further	15:04 The Business Standard
Jewellery stocks down on bullion fall	15:04 The Business Standard
Lower your gold holdings	15:04 The Business Standard
Gold miners face challenge in falling gold price	15:03 The Economic Times - Economy
Paper Selling In The West Could Spur A Gold Rush In The East	15:02 SeekingAlpha - Macro View
Gold dips again on global cues	15:01 Indian Express
US STOCKS-Wall St posts worst day since Nov. 7 on gold's drop, Boston blasts	15:01 Reuters - Economy
China's Economic Data Signals A Buy For Caterpillar And Joy Global	15:01 SeekingAlpha - Long & Short Ideas
Panic drops gold price, buyers plan to wait it out	15:00 Bizjournals
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Gold plunges to lowest in more than two years	14:59 HeraldNet, Washington - Business
Slowdown in China's economic growth to 7.7pc a test for Li Keqiang	14:58 South China Morning Post - Economy
Forex: EUR/USD falls to 1.3020, fresh intra-day low	14:58 FXstreet - Forex News
Gold rout gathers steam, investors brace for end	14:57 The Economic Times - Markets
Gold miners face new challenge in plummeting gold price	14:56 The Economic Times
15 to 30 minutes old www.usagold.com --LIVE NEWS--
The close: Gold wallops TSX as stocks wilt	14:52 The Globe and Mail
Dollar caught in global sell-off	14:49 The Age
Gold set for worst 2-day rout in 30 years, stocks drop	14:46 The Economic Times - Markets
Dow closes 265 points lower; gold plunges	14:45 NBCNews.com
Gold rout gathers steam	14:44 The Age
Venezuela's March inflation hits 2.8 pct: central bank	14:41 Reuters - Economy
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Bullish Outlook for Careers in Financial Planning; Demand for Financial Advice Expected to Grow	14:39 Business Wire (Press Release)
Sri Lanka sovereign to skip dollar bonds this year	14:39 Gulf Today - Business - Regional
India's inflation falls to 3-year low at 5.96%	14:39 Gulf Today - Business - Regional
Russia's Oligarchs Ditch Oil and Gold to Pile Up Cash	14:39 Business Week - Global Business (Europe)
Session Recap: USD advances on risk aversion; Yen recovers further	14:38 FXstreet - Forex News
Wholesale inflation at 3-yr low, raises …	14:36 Yahoo! India
Rout pitches gold into bear embrace	14:36 FT.com - Companies A-Z
Brown & Brown Q1 Profit Rises, Beats View - Quick Facts	14:36 RTT News - Earnings
China poised to tap policy brakes as economy gathers speed	14:36 Business Times Online - Stock Markets
India's March inflation rate seen easing marginally	14:36 Business Times Online - Stock Markets
Inflation at 3.6pc	14:35 Fiji Times - Business
Sri Lanka's Economy To Recover By 2014 - ADB	14:34 Ceylon Today - Business
Despite sharp fall in stock prices, gold loan firms put up a brave face	14:33 The Business Standard
March inflation at 40-month low of 5.96%	14:33 The Business Standard
More commodities get caught in gold price vortex	14:33 The Business Standard
Gold futures prices hit lower circuit, drops 6% on global cues	14:33 The Financial Express - Commodities
Gold, silver fall on subdued demand, global cues	14:33 The Financial Express - Commodities
Silver futures prices hit below Rs 45k mark, tumble 10%	14:33 The Financial Express - Commodities
Jewellery companies eye windfall as gold price falls and investor demand surges	14:33 The Financial Express - Commodities
Gold in free fall, hits 15-month low, global sell-off persists	14:33 The Financial Express - Commodities
Duty on gold may rise to 6% to discourage imports	14:33 The Financial Express - Commodities
India's gold import to fall by 25% in April	14:33 The Financial Express - Commodities
Russian economy at risk from global ‘crisis’	14:33 Gulf Today - Business - International
Gold price falls below $100 to hit a two-year low	14:33 Gulf Today - Business - International
Gold ETF Falls 9% on Record Trading Volume	14:33 ETF Trends
Many now regard Britain’s pre-1914 economy as a success	14:30 FT.com - Comment & Analysis - Letters

Gold buyers respond swiftly to price break

by Peter A. Grant

Apr 15, AM
(from USAGOLD.com) --

Gold buyers and owners are a resilient bunch. Just when you think they might be knocked for a loop, the phone starts ringing off the hook and the orders stream in. And that's what happened on Friday and thus far today. Over the past several months, a number of clients in the buying mode informed us that they were waiting for a price drop. Now that it has occurred, the "bottom-feeders" are out in force.

(Please forgive us if you call and get sent to voice mail. We ask that you leave a message and we will get back to you as soon as possible. We appreciate your patience.)
Gold is on the bargain table courtesy, we are told, of institutional selling that started with a major bank selling 400 paper tonnes executed by Merill Lynch on the Comex open Friday. Another paper sale of 100 tonnes came in immediately thereafter. One London trading house reported this morning that a big bank used Merill Lynch to broker the order. Subsequent long liquidations -- panic selling and margin induced liquidations -- sent the price cascading through one support level after another.

Gold is trading at $1380 level as this is written and silver at $23.60.
Mainstream analysts push mainstream cause and effect for the market action -- everything from reduced future commodity demand in China to Cyprus potential sale of ten tonnes of gold along with a broad range of equally innocuous rationale. There might be a bit more to it than that and we will see what shakes out in the days and weeks to come.

When prices drop as much as they have in the past couple of days, buyers generally do not consider the whys and wherefors. The principle interest is that gold is on the bargain table. None of the economic conditions which created their interest in gold have changed, only the price. This opportunity feels very much like the one Gordon Brown and the Bank of England presented the marketplace in 1999 when Britain announced auctioning a major portion of its gold reserves -- an announcement that caught the market similarly off guard but simultaneously presented an attractive buying opportunity.

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.

Want more information?
Click Here

Seven reasons
high-net worth gold
investors choose
USAGOLD

Video Roundtable Series:

Bullish Sentiment Readings for Stocks and Gold Foretelling What's Next?

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 April 15
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 buyers respond swiftly to price break