Gold News

Moody’s released a report yesterday where they warned the US credit rating may be placed on negative outlook concerning their Aaa rating if certain fiscal adjustments are not made. Given the quantity of US debt owed abroad and the continued budget deficits, Moody’s voiced concern over the willingness and ability of the US to reconcile [...]

Today US durable goods, initial jobless claims and pending home sales data were released. December’s durable good orders came in well below expectations, falling 2.5% when a 1.5% rise was expected. The fall mostly occurred in defense and air craft, but still represents a disappointment. To add insult to injury, weekly initial jobless claims rose [...]

Although this was not a surprise as Japan’s debt has been on a negative watch list for some time, the markets have reacted to this headline and the Japan’s Yen is down against all other major currencies. To some extent, this news is likely to be over emphasized in markets in the short term as [...]

Today’s Federal Reserve meeting produced largely uneventful results on the surface but there are some subtle points of interest. In their decision, the Federal Reserve reaffirmed their buying program, commonly dubbed Q.E. 2, where they plan to purchase a total of 600 billion in medium-long term US treasury bonds by June 2011 in addition to [...]

Here are the official material from the State of the Union addresses delivered last night. First we have President Obama’s address, followed by the official Republican response from Representative Paul Ryan and then the final delivery from Tea Party and House Rep. Michelle Bachmann. Analysis and more videos surrounding the State of the Union will [...]

In an excellent bloomberg interview, see below, Dr. Marc Faber, publisher of the Boom Gloom and Doom report, discusses his views on global markets, assets, and politics. Faber’s candor is always appreciated as too few commentators provide doses of truth at his strength level. This includes calling for Fed Chair, Ben Bernanke’s resignation, and naming [...]

Barrick Gold Corp (ABX) is a gold mining company that has a portfolio of 26 operating mines and many more in the pipeline around the world.  Because of golds ominous position (triple top) ABX is developing a major reversal pattern, the head and shoulders pattern. As you can see in the chart: the past year, [...]

In his BNN Interview, David Rosenberg outlines his expectations for gold, the US & Canadian dollars, global economic developments, and more. He sticks around after an initial interview and takes calls from viewers along with show host Larry Berman. In short, Rosenberg expects Gold to go up a significantly for several years to come. Meanwhile he is [...]

From Bloomberg: “Estonia signed an agreement that limits how much gold European central banks can sell until 2014, according to the European Central Bank. The five-year agreement announced August 2009 that was signed by the ECB and 18 other countries will remain unchanged over the period of the agreement, the ECB said in a statement on its website [...]

Despite the fact Dr. Marc Faber, publisher of the “Boom Gloom and Doom Report”, believes precious metals could have a short-term correction, over the long run, on the other hand, he outlines his view that government currencies are poised to depreciate significantly in terms of these metals. In addition, he predicts oil will remain high, [...]