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By Mark O'Byrne |
May 20, 2013
Silver fell victim to heavy, concentrated selling overnight in thin, illiquid Asian trading. Silver was slammed 10% and fell from $22.36/oz to $20.30/oz in just four minutes.
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By Mark O'Byrne |
May 17, 2013
The United States government is to rigorously enforce a ban on gold sales to Iran from July 1. They are planning to block sales of gold to Iranians in order to undermine the Iranian currency, the rial, and to step up pressure on Tehran over its nuclear program.
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By Mark O'Byrne |
May 16, 2013
Demand for gold bars and coins were up in all markets; 22% year-on-year in China and 52% in India and 43% in the US.
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By Mark O'Byrne |
May 15, 2013
South Africa’s $402 million trade surplus with the United States in January had turned into a $689 million deficit by March with the $1.1 billion swing due to unusual shipments of unwrought gold from the U.S. to South Africa in February and March.
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By Mark O'Byrne |
May 14, 2013
The European Union will today meet to discuss and move forward the proposal to ‘bail-in’ depositors with savings of more than €100,000 as part of future bank wind-downs.
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By Mark O'Byrne |
May 13, 2013
Chinese housewives or “aunties” have purchased 300 tons of the yellow metal in the past three weeks amounting in nearly $16 billion. The impact of the run on physical gold in China may have a significant effect on import statistics.
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By Mark O'Byrne |
May 10, 2013
Abenomics in simple terms allows the nation’s Prime Minister to push its supportive Central Bank to increase the money supply by ramping up government printing presses, resulting in the yen dollar to break the ¥100 barrier.
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By Mark O'Byrne |
May 9, 2013
Jewelers across the world are seeing a surge in jewelry purchases because consumers are taking advantage of the price drop and purchasing investment pieces that will grow in value over time.
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By Mark O'Byrne |
May 8, 2013
India’s Central Bank, The Reserve Bank of India, seeks to restrict bullion imports because of the strain it is putting on their current account deficit. India is the largest importer of gold and more than half of it is used for jewelry.
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By Mark O'Byrne |
May 7, 2013
Ireland’s Finance Minister, and current European Council President, Michael Noonan, is introducing a proposal to European finance ministers that will hit depositors that hold more than €100,000 in the event of future bank collapses.
