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“The only problem with heroin is that it is so moreish.” That’s one of the comments on an FT story ($) about remarks made by the outgoing chairman of Britain’s Financial Services Authority, Lord Turner, in favour of limited money printing for direct funding of government spending. In Turner’s words: “I ...
New data out from the St Louis Federal Reserve confirms that the current post-Q2 2009 “recovery” in the US economy is the weakest on record. ZeroHedge has all the details and more charts. Interestingly, while gains in real GDP remain sluggish, US equities have been outperforming relative to past recovery cycles. Which tends ...
Another constructive day for the precious metals bulls yesterday, with gold nudging above $1,690 and silver trading at $32 and change. Platinum is mirroring gold, albeit with slightly less volatility at the moment, while palladium also put in a strong performance, gaining over $13 early in the New York pit session. Supply concerns ...
The monetary precious metals gold and silver held up fairly well in trading yesterday, considering the gains in the US dollar, as traders started to turn their focus back to the debt problems in Europe, with Spain showing reluctance to formally request financial aid from the European bailout fund. Such a bailout request - which for Spain ...
Greek politicians’ failure to form a new coalition government over the weekend has increased chatter about the prospect of Greece ditching the euro. Senior politicians and central bankers are now openly discussing how a Greek exit – or “Grexit” in market jargon – could be managed. German Bund yields have ...
The Dow Jones Industrial average closed at 13279.32 yesterday – the highest close since December 31 2007. It’s an old Wall Street adage that “selling in May” is a good idea, as markets tend to underperform in the summer. But given the tidal wave of “hot” money flowing around the world at the moment, it ...
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 ...
Another painful day for precious metal holders yesterday – with talk of slowing growth in China and Europe still hurting stocks and commodities. The gold price broke decisively below support at $1,650, though – as has proved a common pattern over the years – yesterday’s price drop in New York have been ...
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Gold:Gold Buy Rates |
$44.6046/gg $1,387.40/oz |
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Silver:Silver Buy Rates |
$0.7208/gg $22.42/oz |
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Platinum:Platinum Buy Rates |
$46.7743/pg $1,454.80/oz |
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Palladium:Palladium Buy Rates |
$23.7594/pd $739.00/oz |
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