The Gold Economy

The price of gold rebounded on Monday after it suffered losses last Friday. Gold traded higher Monday on the hope that the leadership of the European countries are striving to find solution to the protracted debt crisis the continent of Europe has been struggling with and as at today, Tuesday, the price of gold remains steady as it continues to gain momentum amidst it rising demand globally.

On Monday, gold got a boost as it gained about 2% upon the recognition that many European policymakers are putting more efforts into solving the debt crisis which had… Continue reading

Gold Falls for a Second Week as Debt Concerns Spread

Gold fell for a second week in a row, ending on Friday 2.5% lower than the previous week, as once more European debt concerns weighed on investors. The Thanksgiving holiday in the United States at the end of the week did nothing to help sentiment, and weakening currencies in the Far East combined with the bearish news from Europe to put further pressure on the yellow metal.

Equity markets have fared just as badly as… Continue reading

Gold News: Gold Gives Ground After a Month of Gains

After gaining through much of the last few weeks, gold gave up some ground this week. Though recovering a little on Friday, the price had retreated since Monday, and most notably on Thursday in reaction to a poorly received Spanish government bond auction. In order to get the issue away, the government has had to pay a record 6.97% to borrow 43.56 billion. This is up from 5.43% when Spain last auctioned a ten-year bond on… Continue reading

Gold ended a mostly positive week ahead by 1.6%.

Once more, gold news has been dominated by European political and financial woes, which culminated with a focus shift from the troubles of Greece to the troubles of Italy. Italian bonds yields rose through the week to the perceived ‘bailout level’ of 7%, though with Italian politicians agreeing an austerity budget on Friday these eased to 6.53%.

In both Greece and Italy, the debt and economic problems coupled with pressure from the Eurozone leaders has resulted… Continue reading