Bye Bye Petrodollar – Buy, Buy Gold
Gold $1,576.33/oz Silver $28.65/oz Platinum:
GoldCore Insight - Currency Wars: Bye Bye Petrodollar – Buy, Buy Gold
Today’s AM fix was USD 1,580.00, EUR 1,196.15 and
GBP 1,034.78 per ounce.
Yesterday’s AM fix was USD 1,568.50, EUR 1,189.34 and GBP 1,030.96 per ounce.
Gold climbed $12.30 or 0.79% yesterday in New York and closed at $1,576.90/oz. Silver surged to a high of $28.88 and finished with a gain of 0.53%.
GoldCore Gold Bullion Cross Currency Table - (Bloomberg)
Gold recovered on Friday, adding to gains yesterday on news that the U.S. economy is still faltering and concerns that the U.S. Fed’s QE will continue despite assertions to the contrary.
The U.S. economic growth stalled in Q4 and the jobless rate rose up to 7.9% this January.
Smart money bought the dip yesterday, especially in China where premiums in Shanghai were nearly $20/oz over market prices.
GoldCore Insight -
Currency Wars: Bye Bye Petrodollar – Buy, Buy
Currency wars are probably one of the greatest risks posed to the wealth of nations today.
The G20 said last week that there would be no currency wars and some central bankers such as the ECB's Mario Draghi have recently dismissed talk of "currency wars" as excessive.
Sir Humphrey, the wily civil servant in 'Yes Prime Minister', always stressed how important it was “to never believe anything until it is officially denied.”
Currency wars are set too deepen as most industrial nations in the western world are close to insolvent and look on the verge of recessions – potentially deep ones.
GoldCore Gold Bullion U.S. 10 Year Government Bond Yield And Gold Price
This is why it is important to consider the energy money nexus and to look holistically at the world of energy and money as Chris Sanders has done in this interesting insight.
Currency wars and the threats posed to the U.S. dollar as the global reserve currency of the world, make owning physical gold essential to all who wish to preserve wealth in the coming years.
We do not endorse the opinions of guest contributors but where we find an argument interesting and potentially valuable to our clients and the public in helping to protect and grow wealth we share it.
Click here in order to read GoldCore Insight - Currency Wars: Bye Bye Petrodollar – Buy, Buy Gold
Silver is trading at $28.65/oz, €21.80/oz and £18.81/oz.
PLATINUM GROUP METALS
Platinum is trading at $1,611.50/oz, palladium at $731.00/oz and rhodium at $1,175/oz.
Please click here to read the rest of GoldCore’s Market Update.
GOLDNOMICS 2012 – GOLD BULLION OR CASH?
GoldCore Goldnomics 2012 Gold Bullion or Cash
'Goldnomics 2012' can be viewed by clicking on the image above or on our YouTube channel.
It is an updated, revised and refined version and follows in the footsteps of the award winning ‘Goldnomics – Cash or Gold Bullion?’ video, which was the most watched video about gold bullion in 2011 with over 165,500 views.
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