It’s also possible that the Fed thinks a weak dollar will reduce America’s trade deficit, boost its export competitiveness, and lead to higher employment. We think this is a pipe dream. And we’re not talking about a lead pipe. We’re talking William Blake-style opium.
November 5th, 2009 | Dan Denning | 2 comments | ContinuedAll Posts Tagged With: "gold price"
India Beats China to Walk Away With 200 Tonnes of IMF Gold
India’s central bank is now the proud owner of 557 tonnes of gold. That gives it the tenth largest gold holdings among central banks. But it probably isn’t finished. Gold makes up just six percent of India’s foreign exchange reserves. There’s plenty of room for that to grow.
But don’t forget China. China has $2.3 trillion in foreign exchange reserves…
November 4th, 2009 | Dan Denning | 5 comments | Continued
Biggest Factor Affecting Consumer Price Inflation is Growth in Bank Credit
Much will be revealed this week in the Aussie market, although a lot will probably remain obscure too. Producer price data for the September quarter comes out from the Australian Bureau of Statistics. Inflation anyone? Maybe not in wages. But certainly in raw materials (energy).
October 26th, 2009 | Dan Denning | 1 comment | Continued
Dubai and Abu Dhabi: Newcomers to the Global Finance and Trade
Still, our friend Peter Cooper recalls a time in his own family history when Dubai was nothing but a backwater of the British Empire, a port full of smugglers, nomads and thieves.
October 14th, 2009 | Addison Wiggin | 6 comments | Continued
Australia’s Premier Gold Bug Conference
I want this conference to be Australia’s premier gold bug conference, where investors and serious thinkers can talk about gold and hear from some of the best minds in the the world about it…
September 28th, 2009 | Dan Denning | 8 comments | Continued
Gold and its Poorly Understood Historic Role in the Financial System
The burden of today’s Daily Reckoning , then, is to remind these nattering nabobs of negativism that gold is not anyone else’s debt. It is not anyone else’s liability. It cannot be created with a few keystrokes. And for thousands of years, millions of people from all walks of life have been happy to use it as money because of its unique features…
September 15th, 2009 | Dan Denning | 15 comments | Continued
Price of Gold Today is About Where it Was 26 Years Ago
For thousands of years gold has been the money of last resort. It is the money you can trust. They can’t make more of it. They can’t counterfeit it. They can’t put extra zeros on it and pretend it is worth more.
September 11th, 2009 | Bill Bonner | 1 comment | Continued
Gold, Commodities and Markets
The gold price has outperformed all other commodities and markets during the last twelve months. It’s not surprising when you look at the uncertainty in stock markets and commodities markets. In contrast gold is giving investors plenty of certainty. Last August Bill Bonner wrote in the Daily Reckoning: “On Friday, the meltdown of gold and commodities continued. Oil slipped $1.35. The commodities index, the CRB, fell below 500…
January 24th, 2009 | Kris Sayce | 1 comment | Continued
Gold Reaches One Month Low
Good news everyone. Gold has reached a one-month low. In fact, February gold futures on Comex fell the most in six weeks. They tumbled four percent on the day, down US$34. This is very good news. It means you will have a chance to buy gold at lower prices before it goes up higher later this year. Much higher, in fact, according to the 2009 forecast made by Diggers and Drillers editor Al Robinson…
January 13th, 2009 | Dan Denning | 11 comments | Continued
Gold is the Oldest Form of Wealth
We like gold here at The Old Hat Factory. We keep a little jar of gold flakes on our desk. Mainly, we like it because it keeps pace with inflation. It’s a good long-term way to not lose money. Isn’t that the aim of investing? Maintaining wealth? Keeping your nest-egg from becoming a poverty omelette? Well, gold has meant ‘wealth’ for ages. Before the economic revolution in the 18th Century, the two ideas were inseparable.
September 5th, 2008 | Dan Denning | 1 comment | Continued