Bullion in the news
What the press are saying about gold:
August 27th, 2013
By Garry White, and Emma Rowley
Commodities: Is gold rise just a dead cat bounce?
Gold has been rallying from its three-year low of just off $1,180 an ounce in June. On Friday 23rd August, it closed at $1,378.
What is driving this tentative recovery in the market for the “safe haven” metal? A key factor may be that the sell-off in exchange-traded funds backed by gold has passed its worst.
“Support has come from the financial market turmoil in emerging economies, geopolitical tension in Syria and Egypt, together with the fact that gold holdings in exchange-traded products has been stable for a couple of weeks,” says Ole Hansen, head of commodity strategy at Saxo Bank. “[That] could be taken as a sign that most of the institutional selling may be over or at least paused.”
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June 8th, 2013
By Claire Adler
“Since the dip in the price of gold, the Royal Mint has seen a steep increase in demand for its gold coins, which has continued over recent weeks,” says Shane Bissett, director of bullion and commemorative coin.
An additional attraction for customers based in the UK is that gold coins are VAT free, and capital gains tax free.
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July 5th, 2013
By Richard Dyson
The smart money is quietly buying more gold.
Five or six years ago, few private investors were very concerned about the price of gold. Then came the financial crisis. When major banks were failing, a sense of apocalypse
But other factors were at work. The evolution of new investment vehicles and trading platforms suddenly made it easy for private investors to buy small parcels of real gold.
As the crisis rumbled on, increasing numbers of private investors used these ETFs to speculate, or as part of their planned portfolios, so that from owning about 800 tons of gold in ETFsowned almost 3,000 tons by 2012. The gains enjoyed by the investors during that period were terrific, sucking in yet more money, stimulating further appetite, and so on.
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September 10th, 2011
No sign of a bubble in this golden opportunity
One investment that divides opinion time and again is gold. Investors either tend to be gold bugs or gold bears, with few lying in between.
The bears have been calling the top of the market ever since gold reached around $500, doubling the level it was when Gordon Brown famously sold most of the UK's remaining gold reserves. With everrise of $100 since then the gold bears have continued to call the top. Yet having now reached $1,900 an ounce the dynamics of gold don't seem to have changed. For there to be a bubble there has to be ome completely irrational buying and I see little evidence of this so far.
The simple fact is that western currencies are being debased. Inflation is running far higher than interest rates meaning the value of each dollar or pound is losing its spending power, a trenexacerbated by the money printing process of quantitative easing (QE). It isn't anything new. The dollar has lost some 97 per cent of its purchasing power over the past 40 years; it just seems thatthe process is taking place faster than ever today. Ben Bernanke has quite candidly told us not to expect interest rates to rise for the next couple of years, so is it any surprise that the extrlevels of economic uncertainty have seen gold push up to new levels?
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January 16th, 2013
Emma Wall
Gold price on the rise: How to invest in bullion
Gold enthusiasts were today bouyed today by the decision of Germany’s central bank to pull its gold reserves out of Paris and New York.
It follows warnings from the country’s Court of Auditors that bullion held abroad had "never been verified physically" and was not under proper control.
The Bundesbank is to recall its reserves as leverage against future currency fluctuations, resulting in pulling a chunk of its holdings from New York and all its bullion from Paris.
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