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This week will be remembered for the Cypriot banking crisis, and perhaps the wake-up call it gave to bank depositors. Whichever way you look at it, the clumsy attempt to tax depositors and to paint Cyprus as a money-laundering centre for Russian proceeds of crime and tax evasion has backfired. For those interested in precious metals it ...
Last night the Cypriot parliament rejected the proposed IMF/EU bailout that would have seen the confiscation of up to 10% of depositors’ money from the island’s banks. Under pressure from hoards of protesting citizens (and perhaps fearful of the consequences of stealing from one or two of the wealthier Russian depositors) the ...
We saw a slight return of euro jitters in the second half of last week, following comments from European Central Bank President Mario Draghi, hinting that the strengthening euro since last summer was problematic for the eurozone. The currency fell from a high of US$1.36 on Wednesday to below $1.335 this morning, but has recovered ...
December Comex gold futures gained 0.1% yesterday, as improved Chinese manufacturing data and hopeful noises from European politicians about the prospects of reaching an EU budget agreement helped traders’ appetite for growth assets. Precious metals posted decent gains on Wednesday, following news that central banks in Russia, ...
The dream of developing a science that would allow wise philosopher kings to rule humanity from ivory towers is as old as Plato, but it received a significant boost during the 20th Century as “scientific” socialism searched for the tools to replace the market economy and the price system with a centrally planned ...
Islamists claim power in Egyptian elections, and tensions between Syria and Turkey are on the rise following the Syrian military shooting down a Turkish fighter jet on Friday. As ZeroHedge notes, “Syria has recently become a major symbol for NATO vs the Russia-China axis.” All 28 NATO allies will be meeting on Tuesday to ...
Despite poor economic data out of China and Europe recently, global palladium demand shows no sign of declining. On the contrary, demand from end users in the automobile industry continues at record highs. Russian palladium reserves are nearly exhausted, while South Africa – the world's second largest producer – has been ...
In recent weeks the platinum price has been benefiting from growing Asian demand and continuous power supply problems at South African mines. Since September 2011 gold has become more expensive than platinum, although since early February this price gap has been closing in platinum's favour, down from $200 to $65. This period of gold ...
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Gold:Gold Buy Rates |
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Platinum:Platinum Buy Rates |
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Palladium:Palladium Buy Rates |
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