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Thursday, July 24th, 2014 - The Gold Economy - Bringing you trusted gold news and gold investing information since 2006

Archive for the 'Gata News and Updates' Category

Gold Rebounds for Second Straight Day on Eurozone Cues


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 Rallies for Fifth Straight Trading Day on Eurozone Debt Deal


Gold gained 1.5 per cent on Thursday for the fifth straight trading day to attain $1,750 per ounce on major commodity markets around the world as investors saw the European debt deal as a positive tone towards easing the region’s debt burden.

The EU deal provides for banks to waive 50 per cent of Greece’s debt burden in order to make the outstanding loan manageable for the financially troubled EU nation and the Eurozone leaders have also agreed to an expanded bailout measures for the region in addition to recapitalizing the region’s hard-hit banks. This EU… Continue reading

Gold Attains One-Month Record Highs after September Plunge


In a bid to regain its safe haven status, gold attain one-month highs in major markets around the world on Wednesday as it rose above $1,700 per ounce in the wake of increased demand for the yellow metal occasioned by apparent delay in resolving the debt burdens hanging on many countries in the Eurozone and the US consumer data that reveals consumers’ positive sentiment.

Gold seems to be regaining its traditional role as a safe haven from wealth erosion and as a contrarian gauge after plunging as much as 20 per cent of its $1,923.70 per… Continue reading

The Price of Gold Drops as Fitch Ratings Downgrades Italy and Spain


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

Gold Set for Second Day Price Gain as European Debt Burden makes Investors Rush for Safe Havens


Gold may inch up in price gain for a second day as investors who are worried about the debt burden hanging over Europe and possible default by Greece rush to find safe havens in precious metals. News reports from Melbourne, Australia shows that at about 10.00a.m local time on September 14, gold had gained about 0.2% to reach $1,837.43 per ounce before settling for $1,836.97 at that early morning trading session.

The debt burden is weighing heavily on Europe as ‘’uncertainty pervades the entire European market’’ as noted by Natalie Robertson who is a commodity market… Continue reading

COMEX Gold Inches Up Higher on Concerns for Weak US Dollar

 

Market concerns over the perceived weakness in the value of the US dollar were reported to be responsible for a moderate gain in the prices of gold futures on the COMEX division of the New York Mercantile Exchange as the price of gold ended slightly higher on September 13 as investors considered investment in gold as a safe haven and a better alternative.  Gold for December delivery gained $16.8 to reach $1,830.1 on the exchange which is about 0.9 per cent price appreciation.

Unconfirmed reports states that German and French authorities are working to ease the tension… Continue reading

Gold Recedes as the Released Data of US Factories Beats Expectations and Lifts Equities


Gold recedes on Thursday unexpectedly for the first time in three days after the performance data of the United States manufacturing sector, the ISM, proves better than the common expectations of many analysts and stocks were lifted up in response to the glad tidings.

Gold had posted a dramatic appreciation in price and its strongest gain in the month of August on the hill of speculations that the Federal Reserve would mint more money to ease the economy which had almost slipped into recession and which could have fuelled more inflation and a further loss of… Continue reading

Emissions Control Technology Developer Utilizes Gold Metal in Catalytic Converters


NS Gold TM is a first ever gold-based automotive emissions control catalytic converter invented by Nanostellar Incorporated. This gold-based automotive catalyst is now being commercially produced by four biggest diesel car manufacturers based in Europe for the benefit of the environment and the automotive industry.

The World Gold Council is reported to have provided a further financial investment which Nanostellar Incorporated; the developer of the gold-based device requires for improving the accelerated wider acceptance of the emissions controlled catalytic device.

This device has been confirmed to provide up to a significant 30 per cent emission… Continue reading

40 Years Ago Greenback Divorced Gold as Nixon Dropped the Bombshell


Some financial analysts have suggested that it is about time to get back to gold standard that was severed 40 years ago in mid-August 1971. John Tamny of Real Clear Markets while discussing with Jared Bernstein, the CNBC contributor on whether the United States should return back to gold standard observed that severing dollar links with gold was a monumental blunder and the biggest mistake of modern times. John further said that the decision of President Richard Nixon to sever the final link of the US dollar to gold was a devaluation of the dollar and history… Continue reading

The Price of Gold Ascends as TDS Raises Gold Forecasts


The price of gold ascends after the declines it went through in the last couple of business days last week. However, the price of gold is still ahead by about 7.8 per cent when compared to its price at the end of July.

Meanwhile, TD Securities has raised the average price forecast for gold to $1,850 by 2012, $1,680 and $1,750 by the third and fourth quarters of this year respectively claiming that a weak economic outlook and the fact that the US Federal Reserve has got no room to control monetary policies as at now… Continue reading




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