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The gold price has encountered selling resistance at $1,650, while the silver price is still being pegged below $30. Though fears about the US going to war with Iran are growing, crude oil prices slipped yesterday on news that the European Union will not embargo Iranian crude for another six months, in order to allow countries such as ...
More downbeat economic news from Europe yesterday sent the euro down to $1.2790. As The Wall Street Journal points out, this is the single currency’s lowest level against the US dollar since September 2010, following the initial turmoil in European sovereign debt during the spring and summer of 2010. Sentiment remains uniformly ...
Gold and silver prices fell slightly yesterday, as investors moved out of safe-haven assets on the back of the news that politicians in Washington had reached an agreement to raise the US government’s debt ceiling. August Comex gold fell $9.30 (0.6%) to settle at $1,619 per troy ounce. The front-month silver contract lost 79.4 cents ...
This article was originally published at ChrisMartenson.com on July 28. For the record, I still believe that there will not be a breach of the debt ceiling and no overt default for the US. Things will be worked out in the nick of time, like they always are. However, the media is full of articles wondering about what 'investors' might do ...
As mentioned last week, the probable US debt ceiling deal will lift immediate pressure on the dollar and US Treasury market. Short term this could lead to a gold price correction. In fact gold opened lower today at $1,615 after the agreement was made public and will probably correct some more when the House and Senate (presumably) vote in ...
Financial markets are watching with growing unease as the clock ticks down to next Tuesday – the day when the US Treasury will supposedly run out of money to pay for its existing spending commitments. A vote on a debt-ceiling deal favoured by Republican House of Representatives Speaker John Boehner was called off late last night, as ...
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