GOLD PRICES

Central Banks Swap Tons of Gold for Cash

Posted on July 11th, 2010 in BIS, Bank for International Settlements, GOLD PRICES, India Shares, central banks, gold, inthenews

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gold pricesIn a footnote in a 216-page report released last week, the Bank for International Settlements (BIS) disclosed that since December, it has taken in 349 metric tons of gold from central banks, which swapped it for $14 billion in cash.

Why is this important? First off, the BIS is the central bankers’ bank. We can gather from this that central banks needed cash to pay their bills. So they pawned their gold.

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Central Banks Swap Tons of Gold for Cash originally appeared on BloggingStocks on Sun, 11 Jul 2010 14:10:00 EST. Please see our terms for use of feeds.

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Central bank – Bank for International Settlements – Gold – BloggingStocks – Bank

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Gold Hits New High of $1,251.20 per Ounce

Posted on June 08th, 2010 in GOLD PRICES, India Shares, dollar, featured, gold fix, inthenews, krugerrands, spot gold

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gold barsThe flight to safety is still on. Spot gold in London traded at $1,251.20 per ounce, setting a new all time high.

One analyst, Edel Tully of UBS in London, said: “A number of external variables indicated that all is not well in financial markets and gold is benefiting as a result.”

Another analyst, James Steel of HSBC, in New York stated: “The fact is sovereign risk is elevated.”

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Gold Hits New High of $1,251.20 per Ounce originally appeared on BloggingStocks on Tue, 08 Jun 2010 10:20:00 EST. Please see our terms for use of feeds.

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Gold – Spot price – London – BloggingStocks – Financial market

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Gold Moves Higher on Euro Outlook

Posted on May 26th, 2010 in GOLD PRICES, India Shares, euro, inthenews, sovereign debt

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After a brief sell off, buyers are returning to the gold market. Spot gold in London is trading at $1,212.85 per ounce. On the COMEX, June gold futures are at $1,210.50 per ounce, up $12.50.

The demand for gold continues. Investors are worried about the euro and eurozone sovereign debt. They wonder where all the money will come from to refinance upcoming bond maturities. Banks in Europe were gun shy about lending to one another. Chairman Bernanke of the U.S. Federal Reserve opened credit lines with Europe to ease the tightness. However, in a recent statement he said that the credit lines would not remain open forever. Those words added fuel to the euro fears.

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Gold Moves Higher on Euro Outlook originally appeared on BloggingStocks on Wed, 26 May 2010 13:30:00 EST. Please see our terms for use of feeds.

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New York Mercantile Exchange – London – BloggingStocks – Spot price – Federal Reserve System

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India’s Diwali shoot up world gold prices

Posted on October 16th, 2009 in Bullion, GOLD PRICES, GOlD FUTURES

Diwali or Deepwali is a festival of lights. Diwali is the biggest festival celebrated in the Hindu calendar. Diwali is a time of joy, happiness and a time to come close. This diwali come close to your near and dear ones and celebrate the day with full vigor. Send online diwali greetings, diwali ecards and [...]

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