Eurozone Failure Could Send Shockwaves Around World Akin to Soviet Union
Gold is 0.3% lower in US dollars and 0.5% lower in euros. Gold again experienced weakness due to volatility and weakness in global stock markets. However, this weakness is likely to be temporary again and growing fears over the stability of Italy and the euro zone will support safe haven gold.
Sharp falls in equities and commodities may have again forced some investors to sell profitable gold positions to cover losses elsewhere particularly in stocks which fell sharply in the US and Asia but have stabilized in Europe.
Gold fell 0.8% in dollar terms yesterday but was higher in most currencies especially the euro.
The escalating crisis has prompted EC President Jose Manuel Barroso to issue a stern warning of the dangers of splitting the zone. EU sources told Reuters that French and German officials had held discussions on just such a move.
Merkel has called for changes in EU treaties and French President Nicolas Sarkozy advocated a two-speed Europe in which euro zone countries accelerate and deepen integration while an expanding group outside the currency bloc stays more loosely connected — a signal that some members may have to quit the euro.
The failure of the Eurozone and the European monetary union looks increasingly likely. This has incredible political, economic and monetary implications for the world and could lead to shockwaves akin to or surpassing that seen after the collapse of the Soviet Union.
Given the scale of the crisis, we continue to amazed at the lack of animal spirits in the gold market – both from media coverage and from public participation.
The majority have no idea of the ramifications of these momentous geopolitical developments. The public knows the developments are negative but most are resigned to their fate and many are like deer in the headlights failing to join the dots and realize the ramifications for their investments, savings and financial wellbeing.
While demand in Asia has fallen from the very strong levels seen recently – demand continues and Chinese New Year should see Chinese demand pick up again in the coming weeks.
Western investment demand continues as seen in increasing allocations to the SPDR trust.
Holdings of the SPDR Gold Trust added 3.025 tonnes from a day earlier to 1,267.153 tonnes by November 9, the highest since late August. The ETF saw an inflow of nearly 24 tonnes so far this month, after an 11.6-tonne gain in October and a fall of more than 30 tonnes in the previous two months, showing reviving interest in gold from investors.
As we have said for some time ETF buyers are primarily long term diversifiers in nature and not speculative ‘hot’ money likely to flee the gold market on signs of weakness. Much of the ETF buying is from institutions including pension funds who are diversifying their portfolios with very small allocations to the gold trust.
Bullion dealers in western markets continue to see demand but demand is nowhere near the levels seen at the height of the Lehman crisis or even towards the end of gold’s sharp rise to over $1,900/oz in August.
The public is nowhere near the gold market and the majority of people in the western world could not tell you the price of gold today – let alone how to buy it. The mainstream, non financial specialist, media continues to cover gold sporadically at best.
Price falls tend to be headline news rather than price gains.
Much of the buying we are seeing is from existing precious metal buyers choosing to sell existing precious metal type investments such as ETFs and digital gold in order to own physical bullion.
Given the significant counter party risk seen in the world, as graphically illustrated by MF Global, more buyers are choosing to take delivery or opting for personal allocated accounts with legal title to the bullion which is in their name
This position is understandable given massive counter party risk due to the risk of corporate, banking and national bankruptcies.
For breaking news and commentary on financial markets and gold, follow us on Twitter.
Gold is 0.3% lower in US dollars and 0.5% lower in euros. Gold again experienced weakness due to volatility and weakness in global stock markets. However, this weakness is likely to be temporary again and growing fears over the stability of Italy and the euro zone will support safe haven gold.
Sharp falls in equities and commodities may have again forced some investors to sell profitable gold positions to cover losses elsewhere particularly in stocks which fell sharply in the US and Asia but have stabilized in Europe.
Gold fell 0.8% in dollar terms yesterday but was higher in most currencies especially the euro.
The escalating crisis has prompted EC President Jose Manuel Barroso to issue a stern warning of the dangers of splitting the zone. EU sources told Reuters that French and German officials had held discussions on just such a move.
Merkel has called for changes in EU treaties and French President Nicolas Sarkozy advocated a two-speed Europe in which euro zone countries accelerate and deepen integration while an expanding group outside the currency bloc stays more loosely connected — a signal that some members may have to quit the euro.
The failure of the Eurozone and the European monetary union looks increasingly likely. This has incredible political, economic and monetary implications for the world and could lead to shockwaves akin to or surpassing that seen after the collapse of the Soviet Union.
Given the scale of the crisis, we continue to amazed at the lack of animal spirits in the gold market – both from media coverage and from public participation.
The majority have no idea of the ramifications of these momentous geopolitical developments. The public knows the developments are negative but most are resigned to their fate and many are like deer in the headlights failing to join the dots and realize the ramifications for their investments, savings and financial wellbeing.
While demand in Asia has fallen from the very strong levels seen recently – demand continues and Chinese New Year should see Chinese demand pick up again in the coming weeks.
Western investment demand continues as seen in increasing allocations to the SPDR trust.
Holdings of the SPDR Gold Trust added 3.025 tonnes from a day earlier to 1,267.153 tonnes by November 9, the highest since late August. The ETF saw an inflow of nearly 24 tonnes so far this month, after an 11.6-tonne gain in October and a fall of more than 30 tonnes in the previous two months, showing reviving interest in gold from investors.
As we have said for some time ETF buyers are primarily long term diversifiers in nature and not speculative ‘hot’ money likely to flee the gold market on signs of weakness. Much of the ETF buying is from institutions including pension funds who are diversifying their portfolios with very small allocations to the gold trust.
Bullion dealers in western markets continue to see demand but demand is nowhere near the levels seen at the height of the Lehman crisis or even towards the end of gold’s sharp rise to over $1,900/oz in August.
The public is nowhere near the gold market and the majority of people in the western world could not tell you the price of gold today – let alone how to buy it. The mainstream, non financial specialist, media continues to cover gold sporadically at best.
Price falls tend to be headline news rather than price gains.
Much of the buying we are seeing is from existing precious metal buyers choosing to sell existing precious metal type investments such as ETFs and digital gold in order to own physical bullion.
Given the significant counter party risk seen in the world, as graphically illustrated by MF Global, more buyers are choosing to take delivery or opting for personal allocated accounts with legal title to the bullion which is in their name
This position is understandable given massive counter party risk due to the risk of corporate, banking and national bankruptcies.
For breaking news and commentary on financial markets and gold, follow us on Twitter.
Gold is 0.3% lower in US dollars and 0.5% lower in euros. Gold again experienced weakness due to volatility and weakness in global stock markets. However, this weakness is likely to be temporary again and growing fears over the stability of Italy and the euro zone will support safe haven gold.
Sharp falls in equities and commodities may have again forced some investors to sell profitable gold positions to cover losses elsewhere particularly in stocks which fell sharply in the US and Asia but have stabilized in Europe.
Gold fell 0.8% in dollar terms yesterday but was higher in most currencies especially the euro.
The escalating crisis has prompted EC President Jose Manuel Barroso to issue a stern warning of the dangers of splitting the zone. EU sources told Reuters that French and German officials had held discussions on just such a move.
Merkel has called for changes in EU treaties and French President Nicolas Sarkozy advocated a two-speed Europe in which euro zone countries accelerate and deepen integration while an expanding group outside the currency bloc stays more loosely connected — a signal that some members may have to quit the euro.
The failure of the Eurozone and the European monetary union looks increasingly likely. This has incredible political, economic and monetary implications for the world and could lead to shockwaves akin to or surpassing that seen after the collapse of the Soviet Union.
Given the scale of the crisis, we continue to amazed at the lack of animal spirits in the gold market – both from media coverage and from public participation.
The majority have no idea of the ramifications of these momentous geopolitical developments. The public knows the developments are negative but most are resigned to their fate and many are like deer in the headlights failing to join the dots and realize the ramifications for their investments, savings and financial wellbeing.
While demand in Asia has fallen from the very strong levels seen recently – demand continues and Chinese New Year should see Chinese demand pick up again in the coming weeks.
Western investment demand continues as seen in increasing allocations to the SPDR trust.
Holdings of the SPDR Gold Trust added 3.025 tonnes from a day earlier to 1,267.153 tonnes by November 9, the highest since late August. The ETF saw an inflow of nearly 24 tonnes so far this month, after an 11.6-tonne gain in October and a fall of more than 30 tonnes in the previous two months, showing reviving interest in gold from investors.
As we have said for some time ETF buyers are primarily long term diversifiers in nature and not speculative ‘hot’ money likely to flee the gold market on signs of weakness. Much of the ETF buying is from institutions including pension funds who are diversifying their portfolios with very small allocations to the gold trust.
Bullion dealers in western markets continue to see demand but demand is nowhere near the levels seen at the height of the Lehman crisis or even towards the end of gold’s sharp rise to over $1,900/oz in August.
The public is nowhere near the gold market and the majority of people in the western world could not tell you the price of gold today – let alone how to buy it. The mainstream, non financial specialist, media continues to cover gold sporadically at best.
Price falls tend to be headline news rather than price gains.
Much of the buying we are seeing is from existing precious metal buyers choosing to sell existing precious metal type investments such as ETFs and digital gold in order to own physical bullion.
Given the significant counter party risk seen in the world, as graphically illustrated by MF Global, more buyers are choosing to take delivery or opting for personal allocated accounts with legal title to the bullion which is in their name
This position is understandable given massive counter party risk due to the risk of corporate, banking and national bankruptcies.
For breaking news and commentary on financial markets and gold, follow us on Twitter.
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,812,236,848 |
| Stories: | 8,654,136 |
Whistler Blowers, Insiders
