Question: All banks are selling Gold coins in their own fancy rates when the actual declared rate appears on news papers every day.No one sells at the stipulated market rate…Why this anomaly? (more…)
Crude oil fell the most in two weeks after an International Energy Agency report showed that 2009 demand may slump to the lowest level in five years as factories shut and car sales tumble amid a global recession. (more…)
Proposals for creating a new global reserve currency to replace the U.S. dollar are gathering momentum but need further examination, Germany’s development minister said on Friday. (more…)
I’ve started buying up junk silver on Ebay. So far, I’ve bought around $85 (face value) in junk silver, which works out to around $1020 at current silver prices. My average price is around 50 cents below spot. (more…)
The writing is on the wall. The South East nations ready with their hand basket of foreign exchange reserve pool to dip into once their currencies get hammered. Indian currency is not too far behind even with the currency reserves that it has. So thinking of transferring money to India hold on, Rs/USD will get a lot weaker
Japan, China, South Korea and 10 Southeast Asian nations agreed to form a $120 billion pool of foreign-exchange reserves that can be used by countries to defend their currencies amid the deepening global recession. (more…)
“The US Oil Fund (Ticker: USO) holds long positions in West Texas Intermediate crude oil futures contracts, and rolls these contracts forward each month. Like most futures traders, USO buys futures with leverage, putting up a small portion of the money to buy the contracts. The rest of the money is invested in Treasuries, which generates interest income for the fund. (more…)
The price of gold rose to $906 an ounce here on Monday, the highest level for three and a half months, on buying by specialist funds amid fresh concerns about the global economic outlook.
The price reached $906 in mid-morning trading, the highest quote since October 10, having risen above 900 dollars on Friday for the first time in three months. (more…)
Charts shows as of Oct 2007, how many ounces of gold do you need to buy the Dow. Amazing that you will not see this on CNBC and other mass media. (more…)
Bullion banks are the conduits for central bank gold being loaned into the market. As the gold market has shrunk in the last decade in terms of daily volumes and market participant numbers (http://www.lbma.org.uk/clearing_table.htm), the reduction in the number of bullion banks involved in the market means central bank loans are handled by an increasingly smaller numbers of banks. There are currently only six clearing banks on the LBMA handling gold loan transactions.
The six clearing banks are:
Barclays Bank PLC, ScotiaMocatta, Deutsche Bank AG, HSBC Bank, JPMorgan Chase Bank & UBS AG
(more…)
Many Indian folks staying in the US returning with bullion typically find they are bullied by the customs officials at the airport asking for a bribe as if bringing bullion into India today is a crime. Those days are gone. Be informed of the rights as given below. You do not have to fear paying a bribe as long as your declare and pay customs duty which is nominal as given below.