Visitors Now:
Total Visits:
Total Stories:
Profile image
By BARRACUDA (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

How High Can Gold Go? “There Is No Telling” James Grant Tells CNBC

Friday, September 21, 2012 8:42
% of readers think this story is Fact. Add your two cents.

(Before It's News)

 Posted Friday, 21 September 2012 | Source: GoldSeek.com

 

Today’s AM fix was USD 1,773.75, EUR 1,361.28, GBP 1,089.19 per ounce.
Yesterday’s AM fix was USD 1,760.00, EUR 1,360.33 and GBP 1,088.03 per ounce.

Gold fell $2.10 or 0.12% in New York yesterday and closed at $1,768.40. Silver dropped to $34.084 in London, but rallied back higher later in the session and finished with a gain of 0.03%.

James Grant Interview on CNBC

Gold is slightly higher today and is being supported by investor concerns not just about ‘stimulus’ but about “open ended” QE or ‘QE to infinity’.

Gold and silver have this week consolidated on their recent sharp gains which is a healthy development as there were concerns that the markets were getting ahead of themselves.

Currency Ranked Returns – (Bloomberg)

Gold has been hovering near $1,775/oz a 6 ½ month high seen after the US Federal Reserve launched QE3 and vowed to keep borrowing costs low until 2015, fuelling global demand for gold, which benefits from a low and negative interest rate environment.

Deutsche Bank has reported that their high net worth private clients have expressed an increasing interest in owning gold in order to protect their wealth from the growing risk of inflation (see Newswire).

Thursday’s US manufacturing figures showed the sector suffered its weakest quarter in 3 years.

Gold Tick (17/09/2012-Today) – Bloomberg

The recent renewed appetite for gold and silver has shot the precious metal backed funds to their highest levels in a year.SPDR Gold Trust, the world’s largest gold ETF, said its holdings had hit 1,308.41 tonnes.Holdings in iShares Silver Trust, the world’s biggest silver ETF, climbed to an 11-month high of 9,940.66 tonnes.

MORE HERE

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.