The Gold Economy

The following is a brief note from Paul Tustain
*************************************************************************
YES, by all means sell gold today. Just don’t be a schmuck and ‘take a profit’.

That’s supposed to be when you exit something volatile and revert to a stable store of value. But you’d hardly be doing that if you traded your gold for US Dollars, Euros, Yen or Pounds today.

Sure, have a great holiday, or a new car. Maybe sell some gold to buy some interesting shares or, better still, a business. If there’s anything you want to spend on – trivial or serious –… Continue reading

This is a guest post from Gary Tanashian, the original was published on his blog

SPOT MARKET gold bullion prices dropped back to $1600 per ounce Tuesday morning in London – a 0.6% drop from yesterday’s all-time high – while stock and commodity markets recovered some of the past week’s losses as Europe looked ahead to this week’s emergency EU summit.

US Treasury bonds dipped ahead of Tuesday’s Congressional vote on making balanced federal budgets part of the Constitution.

Silver prices also fell, hitting $40 per ounce – still a 1.8% gain for the week so far.

Gold bullion in Sterling moved above £1000 per ounce in Monday’s spot market trading, but is yet to reach… Continue reading

The price of gold continues on its hike to a new record-setting 1,607 Dollars an ounce. The Asian spot market price of gold climbed to a peak of 1,607.41 Dollars an ounce.

Analysts said the yellow metal is likely to climb back to higher territory and likely to create new highs during the day.

They added that investors are likely to remain on the edge until the US debt ceiling issue is resolved.

Analysts also attributed a wider risk-aversion trade that forced US and European banks to sell off their shares and concerns over Italian and Spanish… Continue reading