Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Gold, Silver Rise On Concerns Of Further Currency Debasement and QE4

IMG Auteur
Published : December 01st, 2012
547 words - Reading time : 1 - 2 minutes
( 1 vote, 4/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

 

 

 

Today’s AM fix was USD 1,728.25, EUR 1,329.53, and GBP 1,077.87 per ounce.
Yesterday’s AM fix was USD 1,724.50, EUR 1,327.56, and GBP 1,076.47 per ounce.


Silver is trading at $34.32/oz, €26.53/oz and £21.50/oz. Platinum is trading at $1,621.00/oz, palladium at $683.30/oz and rhodium at $1,050/oz.


Gold rose $6.40 or 0.37% in New York yesterday and closed at $1,725.60/oz. Silver fell to a low of $33.51 in Asia, and ran up to $34.36 in New York and finished with a gain of 1.51%.



Cross Currency Table – (Bloomberg)


Gold inched up on Friday, but prices saw their largest weekly drop since the beginning of November as the unease of the talks on the US fiscal cliff continue to weigh on sentiment.


Republican Speaker of the House, John Boehner said yesterday that the fiscal cliff talks made little progress, dampening the flame of optimism that he lit on Wednesday.


"Based on where we stand today I would say two things. First, despite the claims that the president supports a balanced approach, the Democrats have yet to get serious about real spending cuts," Boehner said after the private session with Geithner. "And secondly, no substantive progress has been made in the talks between the White House and the House over the last two weeks," Boehner commented.


US Treasury Secretary, Timothy Geithner, is Obama's chief negotiator in talks to avert the US fiscal cliff.



XAU/USD 5 Min – (Bloomberg)


Spot palladium is on course for its 5th weekly gain and a monthly rise of over 14%. Supply shortages contribute to the gain. Norilsk Nickel, the world's largest producer of nickel and palladium, said they expect the palladium market to remain in a deficit in the next few years largely due to a near depletion of Russian state supplies.



XAU/EUR 5 Min – (Bloomberg)


Spot silver is on course for a monthly gain of over 6%.


The Shanghai Gold Exchange said it will begin a trial run of OTC gold trading on the China Foreign Exchange Trading System on December 3rd, allowing interbank trading in large volumes.


The US CFTC (Commodities & Futures Trading Commission) commitment of traders is posted at 1930 GMT.


There is speculation in the markets that the US Federal Reserve will purchase more debt to help the US economy which is boosting gold bullion.


While speaking at Pace University in Manhattan , Federal Reserve Bank of New York President William C. Dudley said, “I will be assessing the employment and inflation outlook in order to determine whether we should continue Treasury purchases into 2013.” Dudley also stated, “The Fed will promote maximum employment and price stability to the greatest extent our tools permit, and we will stay the course.”


Fed officials are considering whether to step up record accommodation to counteract the scheduled expiration next month of Operation Twist, a program swapping short-term Treasuries with longer-term debt. A “number” of Fed officials said at the last policy meeting that they may need to expand its monthly purchases of bonds, according to the minutes of the FOMC ’s Oct. 23-24 meeting.


Gold has returned 10% this year and silver has returned 23% year to date, driven by quantitative easing.


For breaking news and commentary on financial markets and gold, follow us on Twitter.



XAU/GBP, 5 Min – (Bloomberg)



 

 

Companies Mentionned : Bullion | Norilsk |
Data and Statistics for these countries : China | All
Gold and Silver Prices for these countries : China | All
<< Previous article
Rate :Average :4 (1 vote)
>> Next article
Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth.
WebsiteSubscribe to his services
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
The Way Out
31 MarGypsy1
James, you're wrong to think the people on earth couldn't THRIVE ~ live well, eat well, enjoy great lives, advance mankind ~ with the resources we ...
Time to Eliminate Pilots in Airc...
30 MarShadowdoo1
Hi Mish, Sorry pal, I would rather take the door off than give the controls to some moron on the ground. Especially with that nitwit in t...
Gold: April 2015 Update
30 Marovertheedge
"I have been invited to speak at the Mines & Money Mauritius Conference in June 2015 again. If you would like to join you can receive 25% off your ...
Greece Needs the Magic Formula t...
30 Marovertheedge
Wow dude. "Idiocracy" is obviously not just another dumb-ass movie. I admit that I should have recognized your devotion to Brawndo (it has ...
Signs that America Will Hit the ...
30 MarFalconflight
I'll tell you what signals a return of the Dark Ages....the growing, almost hysterical screed again in the West that those Jews are responsible for...
Misunderstanding "Peak Gold"; Go...
29 MarTed S.1
Hi Mish, You make a good point about the difference between commodities and gold. It's a great point of discussion to counter people who ar...
The Finanser Interviews Jon Matonis
29 Marovertheedge
"In late 2009, I got introduced to Bitcoin by a random email from Satoshi Nakamoto. I didn’t give it much thought at the time and then 3-4 months ...
Gold Effect on Mining & Shale Wa...
28 Marneville1
Thank you Jim Willie for your open and candid report on some of the most urgent matters agrevating this economically and war torn world thanks...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
IAMGOLD(Ag-Au-Cu)IMG.TO
Iamgold in talks to buy AngloGold's stakes in two Mali mines
CA$ 2.48+5.08%Trend Power :
Exploration and drilling
Caribou CopperCKR.V
Signs LOI to Acquire Northern Extension of Buckingham Graphite Project
CA$ 0.13+0.00%Trend Power :
Corporate news
VMS Ventures(Cu-Ni-Zn)VMS.V
VMS Reports Update on Reserves and Resources at Reed Mine
CA$ 0.25-1.96%Trend Power :
Corporate news
Alto Ventures(Gems-Pl-Ag)ATV.V
Recovers Kimberlite Indicator Minerals on the West Fisher Claims Northwest of the Pikoo Diamo
CA$ 0.06+9.09%Trend Power :
Corporate news
Timberline Res.(Cu-Le-Zn)TLR
Timberline Closes Transaction to Acquire Talapoosa Project Option and Files Technical Report
US$ 0.61-6.15%Trend Power :
Corporate news
Goldcorp(Cu-Le-Zn)G.TO
Éléonore Achieves Commercial Production, Effective April 1, 2015
CA$ 23.78+3.75%Trend Power :
Production
Terra XTXR.V
View PDF
CA$ 0.36-7.79%Trend Power :
Corporate news
Terra XTXR.V
TerraX drills 5.00 m @ 5.29 g/t Au, inclusive of 3.00 m @ 7.98 g/t Au at Yellowknife City Gold
CA$ 0.36-7.79%Trend Power :
Corporate news
INV Metals(Ni)INV.TO
Announces Management Changes
CA$ 0.14+0.00%Trend Power :
Corporate news
Moly Mines(Ag-Au-Cu)MOL.AX
Moly Mines Reports Acting CEO Contract Extension
AU$ 0.07+0.00%Trend Power :
Corporate news
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.