Bloomberg Cautions On Currency Wars
While Miners Look For $2000 Gold
Precious metals prices retreated on Friday, with the price to invest in Gold easing to $1,658.20 an ounce, and the price to invest in Silver sliding to $31.17 an ounce, as "Accommodative policy is still expected to remain in place for some time, a scenario that continues to be conducive for higher Gold prices," said Joni Teves of UBS in a note on Friday. "And in that sense, the recent pullback should be viewed as an opportunity to pick up metal at more attractive levels."
Further declines in the Gold price could elicit an increase in central bank demand, says HSBC. "Since 2011, central banks, most notably emerging-market central banks, have stepped in as Gold buyers during periods of steep price declines," said HSBC. "For example, in 2012, Gold prices fell to USD1,670/oz at the end of March from USD1,784/oz in late February. This coincided with central banks adding 84t of bullion, which represented nearly a quarter of the total Gold added in the first 11 months of 2012."
Bloomberg Businessweek says governments including Germany, Brazil, Thailand and most recently, Russia, have expressed concerns that the world is descending into a currency war. A look back at history reveals reason for concern, as global currency devaluations helped trigger the Great Depression in 1929. Past events are not lost on noted hedge fund chief George Soros, chairman of Soros Fund Management, he's worried. “I think the biggest danger is … a currency war,” he told CNBC. “Currencies have been remarkably stable in the last few years,” said Soros. “Now there is the making of more fireworks, more volatility.” Germany's central bank president Jens Weidmann, recently warned Japan against politicizing its monetary policy as it seeks to weaken the yen.
Meanwhile, Gold miners are "more optimistic" about the price of Gold this year than they were last year, says the new Global Gold Price Report from PwC. "Eighty-three per cent of executives believe we will see a rise in the price of Gold, with zero expecting to see a decline," says PwC. "Executives of some of the largest Gold companies expect to see the price of Gold climb beyond $2000 in 2013." Protect your wealth and your retirement, during these times of economic and geopolitical uncertainty, invest in Gold and invest in Silver and protect your wealth in 2013.
INVATA SA TRANZACTIONEZI GRATIS PIPSI IN FOREX
Bloomberg Cautions On Currency Wars
While Miners Look For $2000 Gold
Precious metals prices retreated on Friday, with the price to invest in Gold easing to $1,658.20 an ounce, and the price to invest in Silver sliding to $31.17 an ounce, as "Accommodative policy is still expected to remain in place for some time, a scenario that continues to be conducive for higher Gold prices," said Joni Teves of UBS in a note on Friday. "And in that sense, the recent pullback should be viewed as an opportunity to pick up metal at more attractive levels."
Further declines in the Gold price could elicit an increase in central bank demand, says HSBC. "Since 2011, central banks, most notably emerging-market central banks, have stepped in as Gold buyers during periods of steep price declines," said HSBC. "For example, in 2012, Gold prices fell to USD1,670/oz at the end of March from USD1,784/oz in late February. This coincided with central banks adding 84t of bullion, which represented nearly a quarter of the total Gold added in the first 11 months of 2012."
Bloomberg Businessweek says governments including Germany, Brazil, Thailand and most recently, Russia, have expressed concerns that the world is descending into a currency war. A look back at history reveals reason for concern, as global currency devaluations helped trigger the Great Depression in 1929. Past events are not lost on noted hedge fund chief George Soros, chairman of Soros Fund Management, he's worried. “I think the biggest danger is … a currency war,” he told CNBC. “Currencies have been remarkably stable in the last few years,” said Soros. “Now there is the making of more fireworks, more volatility.” Germany's central bank president Jens Weidmann, recently warned Japan against politicizing its monetary policy as it seeks to weaken the yen.
Meanwhile, Gold miners are "more optimistic" about the price of Gold this year than they were last year, says the new Global Gold Price Report from PwC. "Eighty-three per cent of executives believe we will see a rise in the price of Gold, with zero expecting to see a decline," says PwC. "Executives of some of the largest Gold companies expect to see the price of Gold climb beyond $2000 in 2013." Protect your wealth and your retirement, during these times of economic and geopolitical uncertainty, invest in Gold and invest in Silver and protect your wealth in 2013.
INVATA SA TRANZACTIONEZI GRATIS PIPSI IN FOREX
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I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
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