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Silver & Gold - Debt Collapse - $20,000 Gold - Mike Maloney on Economic Crisis. Some Swiss gold out of the country; refineries see 'massive' demand. Gold’s London AM fix this morning was USD 1,642.50, EUR 1,251.24, and GBP 1,015.90 per ounce.

Some Swiss gold out of the country; refineries see 'massive' demand

Yesterday's AM fix was USD 1,652.50, EUR 1,257.71 and GBP 1,020.44 per ounce. Silver is trading at $30.49/oz, €23.31/oz and £18.92/oz. Platinum is trading at $1,559.00/oz, palladium at $661.90/oz and rhodium at $1,350/oz. Gold fell $8.10 or 0.49% in New York yesterday and closed at $1,653.60/oz. Gold has been slowly falling off in Asian and early European trading where it is down some $10 on the New York close. Gold has been under pressure in Asia and Europe despite very disappointing economic data further igniting concerns about global growth and the debt crisis.

Cross Currency Table – (Bloomberg) Gold continues to trade in a range between $1,600/oz and $1,700/oz. Technically, the narrowing range would suggest that a close below or above these levels could see a sharp follow through move down or up. Investors await the European Central Bank decision at 2.30pm CET. Gold 6 Month Chart – (Bloomberg) Buy Britain’s Gold Back. Great Britain was once the proud leader of the Classical Gold Standard.

Buy Britain’s Gold Back

A global commercial and economic power, she operated on the gold standard from 1717. The Standard allowed the free movement of capital which in turn financed and expanded trade. Twenty per-cent of the growth in global trade seen between 1880 and 1910 can be attributed to the stability of the gold standard. The British people had faith in their money, its value, and the banks they kept it in. How far we have digressed from that confident nation. The Great War and central banking promptly put an end to the loving relationship we Brits once had with gold. Gradually over time we have lost our link to, and our faith in, gold; only to replace it with a faith in governments and the money which they print at their will. The ultimate defamation to our historical appreciation of gold occurred between 1999 and 2002 when Gordon Brown sold 395 tonnes of Britain’s gold, at the lowest price for 20 years.

Bullion: Volatile Within A Bull Market. Gold has been one of the most volatile markets. But gold is bullish and the major trend is up, despite the volatility. In fact, gold has held firmly above its $1,600 major support, which has become increasingly important. Whenever gold sells off, big buyers come in to take advantage of lower prices. This is a pattern we’ve seen consistently and we expect it’ll continue. Negative Impacts Meanwhile, there are several reasons for gold’s volatility.... First, gold has also become addicted to the Fed’s actions. This influence on gold tends to occur during downward corrections or consolidation periods, like we’ve seen since September. Gold’s strength dominates, however, during bull market rises. Also important has been the slowing Chinese economy. The higher dollar has also had a negative impact, but now sentiment is changing somewhat. Gold Shakes Off $1.24 Billion 'Fat Finger' - MarketBeat.

By Tatyana Shumsky Gold futures ended nearly unchanged Monday, after a large early-morning sell order roiled traders and slashed prices by almost $15.

Gold Shakes Off $1.24 Billion 'Fat Finger' - MarketBeat

The CME Group Inc.’s Comex division recorded an unusually large transaction of 7,500 gold futures during one minute of trading at 8:31 a.m. BMG Authorized Gold Dealer. LBMA. Gold. Historically, the value of gold was rooted in its relative rarity, easy handling and minting, easy smelting and fabrication, resistance to corrosion and other chemical reactions (nobility), and distinctive color[citation needed].

Gold

As a precious metal, gold has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy, but gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a fiat currency system after 1976. Etymology "Gold" is cognate with similar words in many Germanic languages, deriving via Proto-Germanic *gulþą from Proto-Indo-European *ǵʰelh₃- ("to shine, to gleam; to be yellow or green").[11][12] Characteristics Gold is extremely ductile. Chemistry Gold(III) chloride solution in water Gold does not react with oxygen at any temperature;[28] similarly, it does not react with ozone[citation needed].

Exposing the long-term manipulation of the gold market. DGC Magazine April 2012. Precious Metals (Magazine) DGC Magazine October 2011. DGC Magazine GATA Special Issue.

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