Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Bye Bye Petrodollar – Buy, Buy Gold

Gold $1,576.33/oz Silver $28.65/oz Platinum: $1,611.50/oz
Market Update

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 Gold
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
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.

GoldCore Blog

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.

GOLDCORE'S GOLDSAVER ACCOUNT
The GoldSaver Account allows anyone to buy and save gold online from just $150, £150 or €150 per month.

GoldSaver gold holdings are purchased from the Perth Mint of Western Australia. It is stored in their secure vaults, insured and government guaranteed by the AAA rated Western Australian government. Deposits and gold holdings are also independently verified by our auditor on a monthly basis. Find out more about GoldSaver or sign up here. GoldCore GoldSaver

Learn How To Buy Gold Today
We provide comprehensive pricing for South African Krugerrands, American Eagles, Canadian Maple Leafs, British Sovereigns, Silver Eagles, 1 Kilo Gold bars and many more. We also provide live Perth Mint Certificate Programme prices on gold, silver and platinum.
Look Forward To The Future
The GoldSaver Account is a unique service that allows clients to purchase small amounts of gold on a monthly basis in a secure and cost effective manner. The GoldSaver Account is suitable for investors of any size looking to diversify their savings.
Bullion Gold Saver

Perth Mint Certificates
The Perth Mint Certificate Programme allows investors, savers, pension holders and companies to own investment grade bullion which is stored in vaults in the Perth Mint of Western Australia (est. 1899; AAA rating). The programme is insured by Lloyds of London and is fully guaranteed by the government of Western Australia.
Secure Gold Storage Services
GoldCore Secure Storage allows clients to store their gold bullion in ultra secure vaults in Zurich, Hong Kong, Singapore, London and internationally in a cost effective manner. Bullion is held in custody and under a bailment arrangement meaning that the client has a direct claim upon the bullion held in their name.
ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news