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USA GOLD - USA Gold
ECB shifts some reserves to yuan from U.S. dollars
Reuters/Balazs Koranyi/06-13-17 The European Central Bank has switched 500 million euros worth of its U.S. dollar reserves to yuan, reflecting the increased use of the Chinese currency and Beijing’s importance as one of the euro area’s largest trading partners, it said on Tuesday. “The ECB sold a small portion of its US dollar holdings, which remain the largest portfolio, leaving the overall size of the ECB’s foreign reserves unchanged. “The ECB’s foreign reserves now comprise US dollars, Japane
Friday, June 16, 2017
Michael J. Kosares - USA Gold
ECB buys renminbi for reserves
The Financial Times reports this morning that the European Central Bank gave a “seal of approval” to the Chinese renminbi with a purchase of 500 million euros worth  of the currrency for its reserves – a small transaction but with “huge symbolic significance.”  It is also important symbolically that the ECB sold dollars to purchase the renminbi. This ECB purchase may be the most important development to date with respect to China’s establishing the yuan as a global reserve currency, and a respon
Thursday, June 15, 2017
Bullion Vault
Gold Prices Jump as Dollar Falls Before Fed on Weak US Data
GOLD PRICES popped to a 4-session high at $1277 per ounce Wednesday lunchtime in London as the US Dollar sank ahead of the Federal Reserve's long-expected June interest-rate decision following weaker-than-forecast economic data. US retail sales fell in May, down 0.3% from April to defy analyst predictions of a slight rise. Consumer price inflation also slowed, pulling the official index 0.1% low
Wednesday, June 14, 2017
Michael Ballanger
One Massive, Global, Serial Bubble
These missives that I construct periodically usually have as their genesis a "Eureka!" moment while reading a research piece or a written commentary from one of the thousands of self-styled market authorities or if I have the random luck of catching an interview on Bloomberg or (UGH!) CNBC. During a normal week, I will text myself a quick note or leave myself a voice note when and if an idea comes to mind so when I am travelling, it is usually preferable that I be close to a decent WiFi signal i
Wednesday, June 14, 2017
Mish - Global Economic Analysis
Two More Spanish Banks Hit By Contagion: Another Deflationary Bust Coming Up
Five days ago the Telegraph reported Santander Buys Struggling Spanish Bank Popular for €1. The Article called it a “watershed deal masterminded by EU regulators to avoid a damaging collapse.” Reality is quite a bit different as two more Spanish banks are in serious trouble. First, let’s finish some details about Banco Popular from the Telegraph article. Santander will tap its shareholders for €7bn in a rights issue to raise the capital needed to shore-up Popular’s finances in a dramatic privat
Tuesday, June 13, 2017
Phoenix Capital - Gains Pains & Capital
Draghi Confesses: Eurozone Needs ECB Cash
Whereas some members of the governing council of the European Central Bank were hinting the monetary policy would return back to ‘normal’ sooner rather than later, Mario Draghi, the president of the ECB, had a completely different opinion when he testified at the European Parliament. According to Draghi, all stimulus measures need to remain in place until the Eurozone returns to a normalized inflation rate, and reducing the efforts of the ECB aren’t even being discussed. Draghi did confirm t
Saturday, June 10, 2017
Bullion Vault
Gold Prices in Sterling Climb to 7-Week High while Pound Crashes to 7-Month Low as Prime Minister Theresa May's Gamble Backfires
GOLD PRICES in Pounds rallied to a 7-week high of £1007 on Friday morning in London as the Dollar strengthened but Sterling tumbled after fired FBI's director James Comey told US lawmakers that he had "no doubt" that Russia had interfered with the 2016 presidential election and the incumbent UK Prime Minister Theresa May's Conservative Party lost their majority in a snap election, writes Steffen Grosshauser at BullionVault. The outcome of the UK
Friday, June 9, 2017
USA GOLD - USA Gold
Gold Pressured By More Profit Taking, Weaker Greenback
Kitco News, via Forbes/06-09-17 Gold prices are again moderately lower in early U.S. trading Friday. Some more normal profit taking and technical chart consolidation is seen late this week after prices hit a seven-week high earlier this week. A good rebound in the U.S. dollar index late this week is also a bearish outside market force working against the precious metals markets. August Comex gold was last down $5.10 an ounce at $1,274.40. July Comex silver was last down $0.114 at $17.30 an ounce
Friday, June 9, 2017
Mark O'Byrne - gold.ie
Gold in Pounds Surges 1.5 To £1,001/oz – UK Political Turmoil Likely
– Gold in pounds rises 1.5% from £986/oz to £1,001/oz after shock UK election result – Gold reaches 7 week high and surges 6% in the last 30 days from £942/oz to £1,001/oz Gold in pounds – 1 month – Very robust gold sales experienced by gold brokers, including GoldCore, in the UK this week and today  – May’s ruling Conservative party loses overall majority and prospect of hung U.K. parliament – PM May vulnerable from within Tory Party and Corbyn has called for her to resign – Corbyn and Labour p
Friday, June 9, 2017
Bullion Vault
Gold Bars Erase Week's Gain as ECB Cuts 'Lower Rate' Wording, UK Votes, Turkey 'Backs' Qatar in Mid-East Crisis
GOLD BARS traded in the world's wholesale hub of London erased almost all the week's earlier 1.2% gains versus the Dollar on Thursday, falling back against all major currencies as the European Central Bank hinted it won't cut interest rates any further for the world's single largest currency zone. Having touched April's 5-month high of $1295 per ounce on Tuesday, wholesale gold bullion retreated to $1282 as the ECB's latest policy statement cut
Thursday, June 8, 2017
Mark O'Byrne - gold.ie
Gold Prices Steady On UK Election Risk; ECB Meeting and Geopolitical Risk
Gold Prices Steady On UK Election Risk; ECB and Geopolitical Risk by Reuters * Gold prices could see strong intraday volatility – analyst * UK election, Ex-FBI director testimony, ECB meeting set for later in the day * Downside for gold is “limited” (especially in sterling) Gold held steady on Thursday as investors awaited cues on market direction amid a number of geopolitical events later in the day that could boost the safe-haven demand for the metal. Gold prices in UK sterling Polling has sta
Thursday, June 8, 2017
USA GOLD - USA Gold
Gold on track for back-to-back losses after ECB decision
MarketWatch/Rachel Koning Beals/06-08-17 Gold prices were trading lower on Thursday, and set to log back-to-back declines as investors braced for a flurry of potentially market-moving news around the globe Kicking off the parade of news on Thursday was the European Central Bank, which stood pat on its monetary policy but tweaked the so-called “forward guidance” in its policy statement, leaving the impression that it may be inclined to reduce its accommodative posture by lifting interest rates or
Thursday, June 8, 2017
USA GOLD - USA Gold
ECB rules out rate cut but confirms QE until year end
FT/Claire Jones & Mehreen Khan/06-08-17 The European Central Bank took a first small step towards scaling back ultraloose policy when it said it would not cut its record-low interest rates any further, as it seeks to adjust to a surprisingly strong eurozone recovery. In closely watched forward guidance published after a meeting in Tallinn on Thursday, the ECB omitted a reference made in earlier statements to cutting rates to “lower levels” if warranted. The bank also confirmed that it would cont
Thursday, June 8, 2017
USA GOLD - USA Gold
ECB cuts inflation forecast, risks to growth ‘broadly balanced’
FT/Mehreen Khan/06-08-17 The European Central Bank has trimmed its medium-term inflation forecasts despite acknowledging the strength of the eurozone’s accelerating economic growth. In its latest set of forecasts released today, the ECB said inflation would average at 1.6 per cent in 2019, down from a previous forecast of 1.7 per cent and further below its target of just under 2 per cent (see table above). Inflation this year would average 1.5 per cent from a previous forecast of 1.7 per cent an
Thursday, June 8, 2017
USA GOLD - USA Gold
ECB Said to Cut Inflation Outlook After Energy Prices Slide
Bloomberg/Paul Gordon & Alessandro Speciale/06-07-17 The European Central Bank is preparing to cut its inflation outlook across its forecast horizon at this week’s policy meeting because of weaker energy prices, according to euro-area officials familiar with the matter. The ECB’s draft projections now show consumer-price growth at roughly around 1.5 percent each year in 2017, 2018 and 2019, the officials said, asking not to be identified because the information is confidential. The previous proj
Wednesday, June 7, 2017
USA GOLD - USA Gold
Gold Hits 6-Week High Ahead of Key Events, Nears $1,300
KitcoNews/Daniela Cambone & Peter Hug/06-05-17 Gold remains bid after Friday’s short-covering rally on a weaker jobs number, this according to Peter Hug, global trading director for Kitco Metals. “The terror attack over the weekend in London has created more uncertainty on the outcome of the British election on Thursday, and the European Central Bank meeting on Thursday will be closely watched for signals from Mario Draghi on monetary policy,” he said. Gold prices were ending the day modestly hi
Tuesday, June 6, 2017
Michael Pento - Delta Global Advisors
Markets Should Fear Central Banks More Than Trump
Trump’s economic agenda has become further delayed by what seems like daily leaks from the White House. This may finally bring about the long-awaited equity market pullback of at least 5 percent. However, what will prove to be far more troubling than Trump’s ongoing feuds with the DOJ and the press, is the upcoming market collapse due to the removal of the bids from global central banks. The markets have been feeding off artificial interest rates from our Federal Reserve and that of the European
Tuesday, May 23, 2017
USA GOLD - USA Gold
Euro extends gains to hit fresh 6-month high against US dollar
FT/Mamta Badkar/05-22-17 The euro climbed to a fresh six-month high on Monday as the currency rebounded against the US dollar. …The moves came after Angela Merkel, the German chancellor, told school students in Berlin that “the euro is too weak”, which she attributed to European Central Bank policy. “The context she was saying this in was in her description over why Germany has such a high trade surplus but the euro moved anyway,” said Peter Boockvar, chief market analyst at The Lindsey Group.
Monday, May 22, 2017
Phoenix Capital - Gains Pains & Capital
You’d Think We’d Be A Little More Worried . . .
Interested in precious metals investing or storage? Contact usHERE You’d Think We’d Be A Little More Worried . . . Posted with permission and written by John Rubino CLICK HERE FOR ORIGINAL) By now everyone with an Internet connection is aware of the “ransomware” attack that shut down hundreds of thousands of computers over the weekend. The fact that the onslaught is just beginning — as the military-grade hacking tools developed by the NSA and recently leaked are weaponized by hackers
Thursday, May 18, 2017
Bullion Vault
Gold Prices Jump Over 200-DMA as Trump-Comey 'Nears Impeachment', T-Bond Yields Fall with Dollar
GOLD PRICES jumped against a fast-falling US Dollar on Wednesday, hitting 2-week highs as President Trump's sacking of FBI director James Comey deepened once more. The New York Times yesterday reported Comey took notes of a meeting where Trump asked him to stop investigating ex-National Security Advisor Lt.Gen. Michael Flynn's alleged contact with Russian officials during last year's election campaign.
Wednesday, May 17, 2017
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