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Gold is low. Stocks are high. What are you waiting for?
- February 18, 2015
- Posted by: Orkan Ozkan
- Category: News
No CommentsAfter touching $1,300/oz. in late January, gold is back to hovering around its familiar $1,200 resistance level. And as you probably know, the stock market is at all-time highs. So what are you waiting for? SELL STOCKS / BUY GOLD We are currently in one of the longest bull market runs in the U.S. stock market’s
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Gold falls to 1-month low, but investor sentiment improving
Spot gold fell to a one-month low of $1,205.72/oz. in early trading Tuesday, despite a breakdown in talks between Greece and its creditors regarding the country’s debt. Greek officials rejected a proposal set forth by Eurozone finance ministers to request a six-month extension of the country’s international bailout, furthering concerns of Greece exiting the euro (which the media
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World Gold Council releases report on 2014 demand and trends
The World Gold Council (WGC), the market development organization for the gold industry, has released the latest issue of its Gold Demand Trends quarterly publication. The report contains some eye-opening facts and statistics regarding gold investment demand, central bank buying, and production and supply in 2014. We’ve summarized what we believe are the most relevant points below. 2014 Demand
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Swiss bank: Gold “coming back into favor with investors”
- February 11, 2015
- Posted by: Orkan Ozkan
- Category: News
Swiss bank and wealth manager Vontobel Holding AG is reporting that investors are buying more gold as an alternative to Swiss francs. The Swiss National Bank (SNB) imposed a 0.75% negative interest rate on some deposits as of January 22 – an increase in charges on banks that use the SNB as a custodian for Swiss franc deposits.
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Worried Greek investors turning to gold as safe haven asset
The U.K. Royal Mint is reporting increased demand for gold coins among Greek investors, as political and economic turmoil in the country has many seeking a safe haven. Bloomberg also reports that the gold spot price in euros has risen 12% this year. “There has been a noticeable increase in demand in this last quarter,”
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Gold climbed 8% in January – biggest monthly gain in 3 years
- February 2, 2015
- Posted by: Orkan Ozkan
- Category: News
Gold rebounded on Friday after the Commerce Department released weaker-than-expected U.S. economic data, ending the month of January at an 8% gain on the Comex – its biggest monthly gain in three years. The data showed that the U.S. economy expanded 2.6% during Q4 2014, below the 5% growth posted in Q3 and the 3.2% economists expected. Investors sought gold as a
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Hedge funds most bullish on gold in two years
Data from the Commodity Futures Trading Commission released on Friday showed hedge funds increased their long positions on gold by 19.7% in the week of January 20, bringing them to a two-year high. Short positions fell, translating to a net 27% more long positions. The last time hedge funds had this many long positions in gold was December 2012, when
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Gold back above $1300 after ECB announces stimulus plan
- January 22, 2015
- Posted by: Orkan Ozkan
- Category: News
Gold finished above $1,300/oz. for the first time since August on Thursday after the European Central Bank (ECB) announced a quantitative easing program. The announcement drove investors toward gold as a store of value and a safe haven asset. The ECB will buy 60 billion euros worth of assets per month through September 2016. The euro
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Germany wants its gold back!
On January 16, 2013 Germany’s central bank, the Deutsche Bundesbank, announced it would bring its 374 tons of gold reserves stored with the Banque de France in Paris and its 300 tons stored with the U.S. Federal Reserve in New York back to Germany by 2020. By the end of 2013, the Bundesbank had only brought home a
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Gold hits 12-week high as stock markets, currencies struggle
Gold reached a 12-week high on Tuesday as falling oil prices led to volatility in stock markets and currencies. Spot gold peaked around 4:00am EST at $1,243.60/oz., its highest price since mid-October. The price retreated after European stocks and the U.S. dollar recovered from early lows, but low oil prices have kept it elevated above $1,235/oz. Struggling
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