22th June 2009

GoldCore Precious Metals Update


News

U.S. likely to lose AAA rating: Prechter
Reuters

Bank Rescue Costs EU States $5.3 Trillion, More Than German GDP
Bloomberg

BRIC summit may focus on reducing dollar dependence
China Daily

Gold steadies around $930/oz, ETF unchanged
Reuters

Is the housing bust about to take Manhattan?
Reuters

Russian ruble to go palladium
Pravda


Recent News

Commentary

Ben Bernanke's Next Parlor Trick on U.S. Debt Financing
The Market Oracle

China Is Investing Away from Dollar... Bought Enough Gold to Fill Up Ft. Knox Twice
Youtube

Discrepancies in America's accounts hide a black hole
The Financial Times

The Crucifixion of Latvia
The Telegraph


Recent Commentary

Gold
Gold steadied on Friday as the dollar index reversed earlier losses but it is still taking its direction from the currency markets. The dollar remains in a very tight range ahead of a Federal Reserve meeting next week. Furthermore, the lack of any sell-off in gold in the wake of the latest IMF gold sale would indicate that the effect of these sales is already factored into the price. The IMF also declared that it “should continue to hold a relatively large amount of gold among its assets, not only for prudential reasons, but also to meet unforeseen contingencies."

Gold is currently trading at $931/£564/€669.

Silver

Silver opened weaker this morning and has dipped below $14, currently trading at $13.98.

Platinum Group Metals

Platinum also opened weaker this morning, losing $18 in morning trading alone. The raft of recent news items (strikes, temporary closure of equipment) in South Africa should still offer a level of support for the metal, but this sell off could indicate a short term bearish sentiment for the Group. Platinum is currently trading at $1187.



Latest Blog Posts


BLOOMBERG: Buffett Gets 'Comeuppance' After Gold Outperforms - Say Gold and Silver Investments Limited: Bloomberg Chart of the Day
Bloomberg have covered our recent research concerning Warren Buffett's Berkshire Hathaway poor performance versus gold in recent years.

Inflation or deflation?
The events of the last year have indeed been nothing short of Titanic but the question now is this; has the fear at the time, that the response of the monetary authorities printing money to address the credit crunch thereby raining the fear of higher inflation, been realised?

Beware of Exchange Trade Funds (ETFs) Bearing Gold
Gold is unique among asset classes as it is the only asset class not dependent on the performance of auditors, management, corporations, financial institutions, banks, politicians and governments. Nor should physical gold be dependent on the performance of trustees, custodians and or sub custodians.

The horse race: Betting on individual companies
We consider buying shares in a single company to be gambling. In order for us to explain our investment philosophy, let us use the analogy of a horse race.

Federal Reserve Cannot Account for $9 Trillion
Rep. Alan Grayson talks to the Federal Reserve Inspector General Elizabeth Coleman of the Federal Reserve, asking her questions regarding trillions of dollars that came from the Fed's expanded balance sheet and what the losses on its $2 trillion portfolio are.

Current Forum Discussions


The Gold Board
General Discussion
  • gold price manipulation?
  • Hello everyone from a new user /li>
  • albert chain
  • where can I buy???
  • few questions please
  • Charges for PMCP
Gold
  • US Gold Refinery Question
  • Gold question
  • A must read:What to Do With the Lagging Juniors?
  • question
  • friday sell off
  • Another Correction in Gold
Trends, Economics & Politics
  • How bad does a fund manager have to get?
  • One rescue begets the next excess
The Golden Tavern
  • Me the Gold buyer
  • Introduce Yourself Here!
Gold Investments Q&A
  • Peter Munk, Chair Barrick
  • Taxation

Resources

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Comment on this Market Update on the Forums: http://forums.goldassets.co.uk/viewforum.php?f=16&sid=49778cffe358f28057cb71bdb8a15222


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