The Gold Economy

Equity Markets Mixed, Gold Rallies in Subdued Market

Gold tracked sideways for most of the week, as better than expected economic figures from the United States was tempered by nervousness over the Greek debt and austerity package.

Better than expected retail numbers from the US, which showed a pick up in sales during January, and lower than expected weekly jobless claims on Thursday failed to take away European gloom as figures showed UK employment prospects weakening. Though street riots and demonstrations in Athens had abated… Continue reading

The price of gold got a boost today in trading when the news filtered out that the Eurozone leaders, at their crucial meeting in Brussels, had reached an agreement on adopting more stringent fiscal principles for the Eurozone in a bid to resolve the debt crisis which has been affecting the continent for the past two years.

The euro gained in trading today against the US dollar which helped gold to appreciate in price but some analysts have observed that at 0.7 per cent price gain at which the yellow metal inched up early today, gold… Continue reading

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

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