The Gold Economy

Market direction is currently being dictated by global economic news. Hot on the heels of last week’s steadying ship statement from European leaders came a raft of EFSF (European Financial Stability Fund) ratifications from Eurozone member countries. The final one of these, the Slovakian ratification, came toward the end of the week and helped to see equity and precious metals markets close higher.

Central Fund of Canada (CEF), a closed-end gold and silver mutual fund, has been considered an intelligent way to invest in gold and a better alternative to the ETFs by an analyst and the editor of Professional Timing Service, Curtis Hesler, according to a report prepared by Tyler McKee, a member of the Forbes Investor Team. Curtis Hesler bares his mind on CEF while giving his opinion and recommendation on gold investing at this time when gold had retreated from $1,900 an ounce to $1,600 just within a month and many gold investors are wondering whether gold… Continue reading

This week has seen another volatile week for investors, with price action once more taking its lead from debt news.

The week opened fairly steadily, but took a turn for the worse as markets once more worried about the high levels of European debt and lack of direction from its leaders. However, toward the end of the week, announcements from European Finance Ministers citing support for its indebted economies and progression toward the European Financial Stability Fund gave some cause for relief and equity markets rallied. Whether this rally will be long lived remains to be… Continue reading

Gold went down in price by 1.1 per cent on Friday as it settled at $1,635.80 while it lost $17.40 per ounce as recorded at the COMEX division of the New York Mercantile Exchange possibly showing the distastes of investors for Europe’s debt burden as Fitch Ratings downgraded the credit ratings of Italy and Spain.

Gold closed the day with a price loss despite the commodity markets that opened early Friday with the hope of economic recovery occasioned by improvement in the US employment data for September which exceeded the expectations of analysts and had signalled… Continue reading