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Gold maintains its
safe haven status
In an increasingly
risk averse environment and in the wake of tumbling commodity
markets, gold is maintaining a bid, albeit in a tight trading range with
strong resistance at $777 , confirming its status as a safe haven asset. Gold
is currently trading at $755 (12:15GMT).
Oil sinks below $50 a
barrel
For the first time since 2005,
oil dipped below $50 a barrel yesterday. Despite this, Nigeria said it did not want to decrease its oil production to try and stop the slide in
prices because it needed higher output to balance its budget. Meanwhile,
other OPEC members, including Iran and Kuwait said that they would agree to a
production cut.
S&P 500 slumps to
11 and a half year low
Amid fears of a severe
recession, global markets took a hammering yesterday, with the New York
S&P 500 in particular, falling 6.71% to 752.44, its lowest level in 11
and a half years. Economic news from across the world were bleak, with Japan
reporting that a slump in exports threatened to push them further into
recession and the Swiss National Bank cut another 100 basis points off
interest rates, its third cut in 6 weeks.
RBS top brass
apologise to investors
99% of the 300 RBS
investors at a meeting in Edinburgh yesterday voted in favour of a plan to
allow the bank to raise £20bn. At the same meeting, Sir Fred Goodwin,
the outgoing chief executive apologised to investors saying, "I am
extremely sorry that this has come about and sad to be leaving at these
difficult times." An apology from a chief executive - now there's
something you don't see every day.
Good week for:
Slavica Ecclestone, the former
Croatian model who has been married to Formula 1 supremo Bernie Ecclestone
for 24 years, announced through a spokesman that the couple were set to
split. This opens the gates for, potentially, the biggest divorce settlement
in history with estimated assets of $5bn in "Bambino," the family's
offshore trust set up for the benefit of Slavica and the couple's two
children.
Bad week for:
Bernie Ecclestone.
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Gold Investments
63 Fitzwilliam Square
Dublin 2
Ireland
Ph +353 1 6325010
Fax +353 1 6619664
Email info@gold.ie
Web www.gold.ie
Gold Investments
No. 1 Cornhill
London
EC3V 3ND
United Kingdom
Ph +44 (0) 207 060 4653
Fax +44 (0) 207 8770708
Email info@goldassets.co.uk
Web www.goldassets.co.uk
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Mission
Statement
Gold and Silver
Investments Limited hope to inform our clientele of important financial and
economic developments and thus help our clientele and prospective clientele
understand our rapidly changing global economy and the implications for
their livelihoods and wealth.
We focus on the
medium and long term global macroeconomic trends and how they pertain to
the precious metal markets and our clienteles savings, investments and
livelihoods. We emphasise prudence, safety and security as they are of
paramount importance in the preservation of wealth.
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Gold and Silver
Investments Ltd. have been awarded the MoneyMate and Investor Magazine
Financial Analyst of 2006.
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