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

Now:
Last Hour:
Last 24 Hours:
Total:

Gold To Rise 8% To 15% A Year – Citigroup

Tuesday, November 20, 2012 8:14
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Posted Tuesday, 20 November 2012

Today’s AM fix was USD1,734.00, EUR 1,354.05, and GBP1,089.06 per ounce.
Yesterday’s AM fix was USD 1,723.25, EUR 1,349.66, and GBP 1,083.67 per ounce.

Gold climbed $20.20 or 1.18% in New York yesterday and closed at $1,732.10.Silver surged to a high of $33.205 and finished with a gain of 2.7% while oil surged 2.6%.

Global Commodity Prices & Data – (Bloomberg)

Gold is flat today and appears to be consolidating on yesterday’s gains. Conflict in the Middle East and Moody’s downgrade of France’s AAA rating will support gold. Indeed, the Moody’s downgrade of France shows how the global debt crisis is spreading to Europe’s core with obvious ramifications for the euro.

Oil prices surged yesterday as violence intensified in the Israel-Gaza conflict, sparking fresh concern about supplies from the crude oil rich Middle East should the conflict escalate and engulf other Middle Eastern nations such as Syria and Iran.

New York’s main contract, West Texas Intermediate (WTI) for delivery in January, soared 2.6% or $2.36 from Friday to settle at $89.28 a barrel.

This is strengthening safe haven demand for gold bullion.

The Greek parliament approved laws yesterday to enforce budget limits and guarantee privatization proceeds will be used to repay debts before the Eurozone Finance Minister’s meet today about Greece in Brussels.

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.