Posted by financialbriefs on September 26, 2008
The rush by retail investors into gold on Thursday forced the US government to “temporarily” suspend the sales of the popular American Buffalo one-ounce bullion coin after depleting its inventories.
The shortage of gold coins is the latest sign of investors seeking a safe haven into bullion amid Wall Street woes. Gold prices this week surged above $900 an ounce, up about 20 per cent from its level before the collapse of Lehman Brothers.
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Posted by financialbriefs on September 25, 2008
The U.S. government’s proposed US$700-billion bailout plan would boost the nation’s debt ceiling by 6.6% to US$11.315-trillion and is putting pressure on the greenback as a result.
“As we get to the other side of this, the dollar will get crushed,” John Taylor, chairman of New York-based International Foreign Exchange Concepts, the world’s biggest currency hedge-fund firm, told Australia’s The Age newspaper.
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Posted by financialbriefs on September 24, 2008
India’s gold prices stayed firm on Wednesday as overseas markets recovered from early losses in volatile trade and dealers said buyers continued to wait for dips to buy for the festivals.
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Posted by financialbriefs on September 24, 2008
Venezuelan President Hugo Chavez held talks with Chinese President Hu Jintao on Wednesday before the two sides signed an oil cooperation deal and several economic agreements.
Posted in Economy, Gold, Markets, News, Oil, World | 1 Comment »
Posted by financialbriefs on September 24, 2008
“The uncertainty surrounding the Paulson plan continues to toss markets around on a very stormy sea,” said Jon Nadler, senior analyst at Kitco Bullion Dealers.
Posted by financialbriefs on September 23, 2008
Just as people who study oil prices look too much at the New York and London spot price, those who study gold prices look too much at the New York spot price and the twice-daily London fixes. Wednesday’s phenomenal rise in the price of gold in New York was presaged in Asia. The day before, the spot price rose US$20 in Asian markets as investors dumping stocks began to shift to gold as a safe haven.
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Posted by financialbriefs on September 23, 2008
There will be an unprecedented wave of merger and acquisition activity in the gold and silver space that will see junior miners and development companies victimized by factors beyond their control snatched up by senior and mid-tier producers making use of their healthy cash flows and stable balance sheets, according to a new report from Blackmont Capital.
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Posted by financialbriefs on September 22, 2008
NEW DELHI (AFP) – Pushpa Bhatia is in a dilemma as she scans the glittering gold offerings laid out on a showcase at a fancy jewellery store in the Indian capital.
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