Gold reached a new high of $1,829.70 in Thursday trading on increasingly bleak economic forecasts from Morgan Stanley, Goldman Sachs and Deutsche Bank AG. In the US, Morgan Stanley announced that it downgraded its global growth forecast for 2011 from 4.2 percent to 3.9 percent. Goldman Sachs also lowered it’s GDP growth forecasts, anticipating 4.0 [...]
Reuters reports that Gold prices jumped nearly 1.5 percent on Tuesday.
Bloomberg reports that Gold may climb in New York on speculation a deal to rescue Ireland’s banks will curb a spread of the debt crisis.
Businessweek reports that Gold may decline in New York after China raised bank reserve ratios again, curbing demand for bullion.
Businessweek reports that Gold may rise as concern about Ireland’s debt woes spurs demand for a protection of wealth.
Reuters reports that large buyers and institutional investors generally buy the metal from big banks.
By Kishori Krishnan Exclusive To Gold Investing News The Emperor is naked. The debt of the US government is turning out to be in fact irredeemable. And gold is poised to break out. Remember, gold outperforms in a crisis. The inconspicuous beginnings of irredeemable debt have blossomed into a colossal edifice in the United States, [...]
By Kishori Krishnan Exclusive To Gold Investing News The numbers have come in. Treading gingerly but showing the way, Rio Tinto, the international mining group that combines Rio Tinto plc, listed on the London Stock Exchange and Rio Tinto Limited, listed on the Australian Stock Exchange, has reported a pre-tax profit of US$ 7.86 billion [...]
By Kishori Krishnan Exclusive To Gold Investing News The bears appear to be moving in. Eager to retain their stranglehold on bullion, the bears are placing gold in a very vulnerable position at this point. Though gold posted its biggest rally since October on Monday, with spot gold trading at $1,105.13, up 2.25 per cent, [...]
By Kishori Krishnan Exclusive To Gold Investing News Its bargain hunting time. Gold continues to be the bright spot in the bullion market, with many investors timing the dips as a good opportunity to buy more of the precious metal. For the first time in four days, gold gained in New York on speculation that [...]
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