29-Aug (Bloomberg) — James Grant, publisher of Grant’s Interest Rate Observer, talks about Federal Reserve monetary policy and the financial markets. Grant, speaking with Tom Keene and Sara Eisen on Bloomberg Television’s “Surveillance,” also discusses the need to return to the gold standard. [video] PG View: An excellent interview with Jim Grant, where the salient [...]
Marketwatch (Aug 29) by Matthew Lynn — What would gold be priced at if it reclaimed its role at the center of the monetary system? There are plenty of predictions out there but the truth is no one really knows. The interesting point is this, however. Markets are anticipatory. They are always trying to get [...]
Technical Update for Gold 29-Aug (USAGOLD) — Gold has come under modest corrective pressure today, following a modest upward revision to Q2 US GDP and better than expected pending new home sales for July. These data dampened expectations of additional Fed accommodations, boosting the dollar and weighing on the yellow metal in the process. Nonetheless, [...]
In my opinion, QE3 is a huge distraction and a short term consideration that takes away from the real reasons why the gold price might rise in the years to come. After all, how much of QE2 has fed through to prices thus far? Little to none — yet gold has risen significantly. Most of [...]
Overlooked in the discussion about a new rendition of QE3 is the fact that government bond auctions continue to be oversubscribed with aggressive interest from both domestic and foreign buyers. The discussion on the QE3 issue over the past few weeks has been endless but I have yet to see any of the so called [...]
29-Aug (Der Spiegel) — Jens Weidmann, the 44-year-old head of Germany’s central bank, has made a name for himself by championing price stability and opposing bond purchases by the European Central Bank. In a SPIEGEL interview, he criticizes the ECB’s latest plans and insists he only wants to secure the euro’s long-term future. …”I was [...]
29-Aug (Financial Times) — European equities are slipping while the region’s borrowing costs inch higher as traders remain alert for a definitive response to the European debt crisis and watch for signs of further stimulus in the US. The second reading of US gross domestic product for the second quarter was upwardly revised to 1.7 [...]
28-Aug (Reuters) — China is trying hard to revive interest in its ailing stock market, but some investors are instead shelling out big money on an asset they can hold in the palms of their hands – walnuts. With more traditional investments like stocks and property offering only small, or sometimes negative, returns over the [...]
28-Aug (Reuters) – Gold steadied around its highest in four months on Tuesday ahead of a meeting of central bankers at the weekend that could outline the likely course of U.S. monetary policy, while a stoppage at a major mine kept platinum near 3-1/2 month highs. Gold has gained 3.1 percent so far in August [...]
28-Aug (USAGOLD) — Gold is rebounding from overseas corrective downticks as expectations over further central bank measures continue to vacillate. While markets may be setting themselves up for disappointment, the underlying fundamentals in the gold market at least remain strong; as are the technicals at this point. Mario Draghi is still trying to cobble together [...]
28-Aug (Reuters) — Catalonia, which generates around a fifth of Spain’s economic output, will tap a state liquidity line for just over 5 billion euros ($6.26 billion), a spokesman for the north-eastern region’s government said Tuesday. The facility will cover financing costs linked to plans to cut its public deficit to 1.5 percent of gross [...]
28-Aug (Wall Street Journal) — Individuals, companies and investment funds yanked money out of Spanish banks by a record amount in July, according to data released by the European Central Bank Tuesday. Deposits in Spanish banks dropped 4.7% in July versus June to 1.51 trillion euros ($1.89 trillion). The nearly EUR75 billion decline was the [...]
27-Aug (Casey Research) — It is a deal with the devil: governments churn out more and more cash for the promise of continued prosperity. But the day of reckoning is near, according to Doug Casey, chairman of Casey Research and an expert on crisis investing. As the epic battle between inflation and deflation continues, Casey [...]
27-Aug (AP) — Debate raged on among Europe’s top bankers on Monday over the merits of a proposed plan for the European Central Bank to buy government bonds to lower borrowing costs for financially troubled governments. Germany’s national central bank, the Bundesbank, is increasingly isolated in its opposition to the plan, saying it would expose [...]
27-Aug (USAGOLD) — Gold remains generally well bid early in the new week, underpinned by the persistent notion that further central bank accommodations are in the offing. A new 20-week high was established overseas at 1676.94. While a Bloomberg article today suggests Fed chairman Bernanke is likely to play it coy at Jackson Hole this [...]
25-Aug (Aden Forecast via 24hGold) — Gold is on the rise after months of sluggishness. After all, it’s been almost a year since the $1900+ record high was reached, yet the gold price hasn’t declined even 20%. Think about it… considering the 170% gold rise (from the 2008 low to the year ago record peak), [...]
27-Aug (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke — returning this week to the scene of a 2010 speech that foreshadowed a second round of quantitative easing — probably will disappoint investors looking for him to signal new stimulus. Bernanke probably won’t use his Aug. 31 speech at the Fed’s annual symposium in Jackson [...]
23-Aug (Reuters) — The Republican Party is set to call for the creation of a commission to look at restoring a link between the U.S. dollar and gold severed 40 years ago, the Financial Times reported on its website Thursday. Drafts of the party platform to be adopted at the Republican National Convention next week [...]
24-Aug (USAGOLD) — Gold remains well bid heading into the weekend after posting four consecutive daily gains. The yellow metal is up more than 3% from last Friday’s close, and with key technical barriers negated, there is mounting evidence that the long-term secular bull market in gold is re-exerting itself. Rumors surfaced today that the [...]
24-Aug (Wall Street Journal) — Federal Reserve Chairman Ben Bernanke, in a letter responding to questions posed by U.S. Rep. Darrell Issa (R., Calif.), chairman of the House oversight committee, defended actions the Fed has taken to support the economy and said there is room for the Fed to do more. “There is scope for [...]
