Chart usGOLD   Chart usSILVER  
 
Food for thought
It takes two to speak the truth: one to speak, and another to hear
Henry David Thoreau  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1172.59-0.01
Silver 16.13-0.02
Platinum 1232.000.75
Palladium 788.20-1.55
WORLD MARKETS
DOWJONES 17391182
NASDAQ 463165
NIKKEI 16414756
ASX 550548
CAC 40 423392
DAX 9327212
HUI 156-8
XAU 65-3
CURRENCIES (€)
AUS $ 1.4228
CAN $ 1.4106
US $ 1.2521
GBP (£) 0.7830
Sw Fr 1.2056
YEN 140.6600
CURRENCIES ($)
AUS $ 1.1371
CAN $ 1.1264
Euro 0.7987
GBP (£) 0.6254
Sw Fr 0.9626
YEN 112.2900
RATIOS & INDEXES
Gold / Silver72.70
Gold / Oil14.81
Dowjones / Gold14.83
COMMODITIES
Copper 3.07-0.01
WTI Oil 79.20-1.32
Nat. Gas 3.890.06
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
US election: now for the hangover
Published : November 08th, 2012
266 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

At long last, it’s all over. Residents of Ohio, New Hampshire, Florida and other swing states can at last watch TV again without being bombarded with political advertisements. Precious metals and commodities in general have reacted positively to Obama’s re-election, while the dollar has sold off.

Gold and silver’s biggest move of the 24 hours actually occurred yesterday afternoon, however, prior to the result: the metal swiftly moving from around $1,690 to $1,715 in a matter of minutes, while silver gained close to a whole dollar per ounce during the same period. Perhaps the “longs” had a premonition that Obama would win (thus cementing weak dollar policies for another four years). A better interpretation is that fundamentals for precious metals are strong enough that it wouldn’t really have mattered who won, so physical buyers leapt at the fleeting chance to buy at under $1,700.

The Dollar Index has actually held up relatively well over the course of Obama’s first term (better than during George W. Bush’s first term from 2001-2005). A key test now awaits dollar bulls though, in the form of the fiscal cliff: shorthand, as the Telegraph informs us, for the $607 billion of tax increases and spending cuts due to take effect from January. The Congressional Budget Office has warned that this will push the economy back into recession in a matter of months – if all the cuts and tax rises are enacted.

This is partly why the Federal Reserve will have to persist with its efforts to devalue the dollar. Another key reason is explored in the video below (hat-tip, JSMineSet.com).




 

 

Thanks to Goldmoney from www.goldmoney.com
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Goldmoney
All articles by
Goldmoney
Next article by
Goldmoney
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis
Most recent articles by Goldmoney
9/18/2014
12/12/2013
12/6/2013
11/15/2013
10/1/2013
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer