By: Chris Mullen, Gold Seeker Report - 23 February, 2018
Gold fell $5.70 to $1325.80 in Asia before it bounced back to $1331.60 in London and then chopped back lower in New York, but it ended with a loss of just 0.17%. Silver slipped to as low as $16.499 and ended with a loss of 0.54%. Full Story
During the last 90 minutes of trading on Wednesday, the Dow Jones Index tanked by 400 points. Supposedly, the steep selloff had something to do with the release of the Fed minutes. However, today, the market has reversed once again and is up by 200 points. Unfortunately for mainstream investors, it doesn’t matter what the Fed or Wall Street have to say; the broader markets will continue to fall precipitously over the next few years. Full Story
By: Chris Mullen, Gold Seeker Report - 22 February, 2018
Gold fell $3.70 to $1320.80 in Asia, but it then rallied back higher for most of trade in New York and ended near its early afternoon high of $1332.00 with a gain of 0.53%. Silver climbed to as high as $16.679 and ended with a gain of 0.79%. Full Story
– Russia increased its holdings to 1,857 tons, topping the People’s Bank of China’s ‘reported’ 1,843 tons – Russia surpasses China as 6th largest holder of gold reserves – after U.S., Germany, IMF, Italy and France – Turkish central bank added 205 tons “over 13 consecutive months” – Commerzbank – Meanwhile, Russian ally Venezuela is launching a new gold-backed cryptocurrency next week Full Story
By: Chris Mullen, Gold Seeker Report - 21 February, 2018
Gold dropped $5.20 to $1325.50 in late Asian trade before it rallied up to $1332.90 in midmorning New York trade and jumped up to a new session high of $1336.10 following the release of today’s fed minutes, but it then fell back off into the close and ended near its late low of $1322.60 with a loss of 0.47%. Silver climbed up to $16.764 before it also fell back off, but it still ended with a gain of 0.06%. Full Story
– Bitcoin has ‘pretty much failed’ as a currency says Bank of England Carney – Bitcoin is neither a store of value nor a useful way to buy things – BOE’s Carney – Project fear against crypto-currencies or an out of control investing bubble? – Bitcoin will likely recover in value but is speculative and not for widows and orphans – British pound has been a terrible store of value – unlike gold – Pound collapsed 30% in 2016 and down 11.5% per annum versus gold in last 15 years – Fiat currency experiment may fail and dollar set to lose reserve currency status Full Story
By: Chris Mullen, Gold Seeker Report - 20 February, 2018
Gold waffled near unchanged in holiday thinned trade yesterday before it fell $13.20 to as low as $1335.50 at about 9AM EST today and then bounced back to $1342.90 by midmorning, but it then dropped to a new session low of $1328.40 by early afternoon and ended with a loss of 1.33%. Silver slipped to as low as $16.426 and ended with a loss of 1.26%. Full Story
– Nearly €1 trillion in non-performing loans poses risks to European banks’ – Greece has highest non-performing loans as a share of total credit – Italy has the biggest pile of bad debt in absolute terms – Bad debt in Italy is still “a major problem” which has to be addressed – ECB – Level of bad loans in Italy remains above that seen before the financial crisis – Deposits in banks in Greece, Cyprus, Italy, Ireland, Czech Republic and Portugal most at risk from bank bail-in Full Story
– Trade war between two superpowers continues to escalate – White House likely to impose steep tariffs on aluminium and steel imports on ‘national security grounds’ – US may impose global tariff of at least 24% on imports of steel and 7.7% on aluminium – China “will certainly take necessary measures to protect our legitimate rights.” – China is USA’s largest trading partner, fastest-growing market for U.S. exports, 3rd largest market for U.S. exports in the world. Full Story
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