LogoHeader
1-800-869-5115
We welcome your inquiry.
We educate first-time gold investors.

USAGOLD Coins
USAGOLD Menu BAR

Daily Gold Market Report

one day gold price chart gold prices


Live London Gold News Wire

NEW in the last 5 minutes
www.usagold.com --LIVE NEWS--
Indian rupee, US dollar likely lower; corporate inflows watched21:45
Indian Express
15 to 30 minutes old
www.usagold.com --LIVE NEWS--
Watch Out Euro Bulls, Draghi Is Watching You21:30
CNBC.com - Europe
Govt doing its best to keep food inflation down21:29
The Financial Express - Economy
Forex Flash: AUD/CAD squeeze higher remains - TDS21:28
FXstreet - Forex News
Copper Gains to Highest in Three Weeks on China Demand Optimism21:23
Bloomberg - Markets - Commodities
30 minutes to 1 hour old
www.usagold.com --LIVE NEWS--
Businessmen more confident in economy21:17
New Vision, Uganda - Business
On Monetary Policy Outside of a Balance Sheet Recession21:09
The Pragmatic Capitalist (Weblog)
Forex: USD/SGD remains range bound in Asia session20:58
FXstreet - Forex News
Treasury planning to tax profits on second homes20:56
Ha'aretz - Business
1 to 2 hours old
www.usagold.com --LIVE NEWS--
Phoenix Gold appoints new non-executive director20:41
Proactive Investors - Australia
FOREX-Euro tripped by ECB, Aussie on defensive ahead of RBA rate decision20:41
Reuters - Economy
CBD planning to issue dollar bond20:34
Gulf Daily News - Business
Forex:GBP/JPY edges lower during Asia trade, approaching support at 153.5020:28
FXstreet - Forex News
April inflation at 13-month low20:24
ABS-CBNnews.com - Business
Ringgit advances against US dollar, highest since August 201120:21
The Star Online
Forex Flash: AUD/USD, torturous range at risk? - ANZ20:18
FXstreet - Forex News
Gold Declines as Rebound Hurts Physical Demand; Silver Tumbles20:14
Bloomberg - Markets
Commodity Currencies in Focus with Key Australian and Chinese Data Due20:10
Daily FX
Bright Lights, Big City, Bigger Prices - Where Inflation Hides20:08
Zero Hedge
Shop-price inflation falls to 0.4%20:07
The Scottish Herald - Business
Long way to go to achieve a balanced economic recovery20:07
The Scottish Herald - Business
Rubber Jumps Most in One Month as Yen Near to Four-Year Low20:03
Bloomberg - Markets - Commodities
Slow Reforms Cloud Vietnam’s Economic Growth Outlook, IMF Says20:01
Bloomberg
Half of Canada's mid-sized cities yet to recover from recession19:56
CBC.ca
Ask Matt: Is silver a good investment going forward?19:54
USA Today - Personal Finance
US dollar poised to re-test 100 yen mark19:54
The Nation - Business
Traders say PTI to pull country out of economic mire19:54
The Nation - Business
2 to 4 hours old
www.usagold.com --LIVE NEWS--
Forex: USD/JPY dips below 99 on Aso's comments19:47
FXstreet - Forex News
Forex: AUD/USD remains in narrow range after Trade Balance data19:47
FXstreet - Forex News
INDUSTRY: Innovation Economy Expo is Thursday19:37
The Press-Enterprise, California - Business
China plans to cut govt economic intervention19:37
China Daily - BizChina
Gold’s Peak Seen Over by Coutts on Outlook for Dollar, Inflation19:36
Bloomberg - Regions
Coca-Cola Amatil's Earnings Hit by Price War, Weak Consumer Spending19:27
Fox Business - Industries
Silver Wheaton Earnings Are on Deck19:12
The Motley Fool
Richard Brown, retired CHP officer, dies at 8519:09
Press Democrat - Sports
Forex: AUD/JPY closes lower as resistance at 102.50 continues to hold firm19:07
FXstreet - Forex News
Dow Electronic Materials MICROFILL™ THF-100 Electrolytic Copper Wins New Product Introduction Award from PCD&F19:05
Business Wire (Press Release)
Japan’s economy minister Amari: Share prices are a sign of growth in the Japanese economy19:03
ForexLive.com
What Is A Gold Standard?18:58
Zero Hedge
Draghi: ECB Stands Ready to Act Again18:49
CNBC.com - Europe
China Focus: "Gold rush" reveals scant investment options18:49
China.org.cn - Economy
Auroch Minerals completing Guy Fawkes gold drilling in Mozambique18:41
Proactive Investors - Australia
Cleveland Mining has 60m intercept at Premier gold mine that shows potential scale18:31
Proactive Investors - Australia
Orinoco Gold granted halt, Brazilian exploration results pending18:31
Proactive Investors - Australia
Oil & gold booms are over: Ruchir Sharma18:30
The Economic Times - Markets
Forex Flash: EUR/USD, any fall to 1.25-1.27 opportunity to build longs - ANZ18:27
FXstreet - Forex News
Asian Stocks Rise Second Day as ECB Prepared to Cut Rates18:22
Bloomberg - Worldwide
How Singapore's currency club fell apart18:11
The Star Online
Foreign institutional investors more bullish on India18:10
The Economic Times - Markets
3 top picks from Odlum Brown’s Hank Cunningham18:09
The Globe and Mail


Gold Consolidates Recent Gains

by Peter A. Grant

May 06, AM
(from USAGOLD.com) --

Gold is consolidating after posting two consecutive weeks of gains. The yellow metal remains confined to Friday's range thus far as the battle between paper sellers and physical buyers continues to play out.

Continued soft PMI data and a weak retail sales print out of Europe is just the latest evidence that the eurozone remains in trouble. The euro is under pressure, which has lifted the dollar and is keeping gold in check. However, as the EU founders, it's worth remembering that gold was trading just above $1,000 an ounce when the euozone debt crisis commenced in October 2009 with the announcement by Greek Finance Minister George Papaconstantinou that his country's deficit would be twice previous estimates.

In the intervening years, the U.S. has managed to keep its economy sputtering along just above stall speed with rates at zero and by pumping trillions in liquidity into the system. Europe has been reluctant to follow suit, although last weeks 25bp cut in the refi rate to a record low 0.5% may be the first crack in the bulwark we've seen in some time.

I think part of the reason that gold has been more corrective in recent years is the broad perception that global central banks have been effective in managing the string of crises that have emerged in recent years, averting economic catastrophe. While a full-on catastrophe has has not happened (yet), anyone who assumes the risk of catastrophe is behind us, does so at their own peril.

Mounting growth risks will bring debt and funding crises back to the fore as tax revenues fall once again. This will likely force central banks to ease further. The ECB and the BoE have room for further rate cuts, but in the U.S. and Japan rates are already at zero. Their only option is print even more than they are already doing.

Japan has already gone 'all-in', pledging to double their monetary base within the next two years. Yet the latest CPI print shows prices are falling at an increasing rate, -0.9% y/y in March, versus -0.6% y/y in Feb. The BoJ has set out to try and change the mindset and culture of the nation; from a country of savers to a country of spenders. This is no small task, and I think the Abe government and the BoJ realize it, but even the 'shock and awe' of Abenomics may prove insufficient.

The Fed suggested last week that they are just as ready to increase asset purchases as reduce them, depending on how the economy is doing. For now anyway, the removal of accommodations seems a long way off.

What's worrisome is the prospect that the inability of central banks to create economic growth and inflation will incent them to push that much harder. Like the door that finally gives way after you throw all your weight behind it, the risk is that all that liquidity comes charging into the room. We know from history that the velocity of money can be unpredictable. When that "bang" moment occurs, all those crises dodged in the past may seem like mere child's play in light of what is ultimately unleashed on the global economy.

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

Better Business Bureu Rating

The right gold firm

ABC's of Gold Investing
"There is much wisdom between the covers of this book."



book order (Int'l)

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

Want more information?
Click Here


Liberty Coin Image

Seven reasons
high-net worth gold
investors choose
USAGOLD

Video Roundtable Series:

The Paper Market Panics While Physical
Buyers Rejoice



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

Timeline

usagold logo 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

stars

American Numismatic Association
Member since 1975

Industry Council for Tangible Assets

USAGOLD Centennial Precious Metals is a BBB Accredited Business. Click for the BBB Business Review of this Gold, Silver & Platinum Dealers in Denver CO
zero complaints

 

Monday May 6
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