Tag Archives: germany

As the European Central Bank continues its loose monetary policies, the Swiss are getting nervous. For a nation with such a distinguished and proud history in banking, privacy and respect for gold, it seems like they can no longer idly watch the ECB print money. Now, what they’re considering doing may not only put them back on the path towards fiscal responsibility, but it could have huge implications for the entire gold market. Find out here what they have up their sleeve.

Following in the footsteps of Utah, Kansas and Texas, Oklahoma recently passed a law to allow gold as legal tender, which has led some to believe that the U.S. is slowly moving towards the gold standard. How would that work? And is it even realistic? How would you even use gold in place of the U.S. dollar? It’s a fascinating topic with no right or wrong answers. In this Market Report, Will Hart and Jake Kennedy give their take on these questions. Pay special attention to the enlightening example that’s taking place in Ukraine today.

With gold prices pinging around like a thought in a schizophrenic’s head, the real story this week is profit taking from gold and silver backed paper holders who are scrambling to get out of the way of the Eurozone meltdown. Gold closed down on Friday at $1,660 with silver making a lateral move closing down at $31.50. After a downgrade from Moody’s, Commerzbank in Germany announced the slashing of 6,000 full time jobs by 2016. Italy’s Unicredit is following suit with a shedding of 1,000 employees of their own. There are known issues in Asian investment banking and the “perp walks” have started for the Libor scandal. Emerging markets are trying to avoid joining in the currency battles initiated by all the quantitative easing of more advanced economies. Thailand is running a surplus, and will seek to create a “pleasant deficit” by shoring up its infrastructure to ease the pressure on its business community. Those addicted to the fast pace of burning paper are rabidly jumping from one investment vehicle to the next, trying to outpace everything from conversations on the U.S. debt ceiling to the IPO freeze in China. Those who possess gold can sit back and enjoy the show in peace. The fools are rushing out.

With the presidential election just a few days away, the latest jobs report showed that more jobs than expected entered the economy in October, pushing gold to close at $1685. But even with this drop, the yellow metal continues to average unprecedented highs. Silver, however, is looking like a steal, with global markets bullish on the white metal. Superstorm Sandy’s wake of destruction may have done little compared to the anticipated market frenzy before the US election: with opinion polls showing a dead heat between Obama and Romney, analysts are expecting a surge in trading after the election. Does emotional trading commence on the 7th of November?