Gold

Craigslist scam tried to sell fake silver bars

March 31, 2015 at 12:32

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Jefferson County deputies arrested 32-year-old Hannah Elisabeth Vergos and 31-year-old Casey Wilder for selling phony silver bars on Craigslist. According to deputies, a man responded to a Craigslist ad saying the seller was trying to sell 100 1 oz. silver bars for $1,500. He made arrangements with the seller, who turned out to be Vergos, to meet in the parking lot of a Walmart in the 8100 block of West Bowles Avenue. When he met Vergos, he bought five bars for $100 to have them tested. The test results showed the bars were not real. 100 1 oz. silver bars for sale on Craigslist (Photo: Craigslist) The victim called Vergos and agreed to buy the remaining 95 bar...

Gold Prices Set to Soar in Q2

March 31, 2015 at 12:29

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As difficult as it might be to believe, gold prices essentially ended the first quarter of 2015 where they ended the fourth quarter of 2014. That’s right — the sharp slide in gold prices and the SPDR Gold Trust between late January and mid-March was mostly an offset of the surge at the beginning of the year. The rest of the pullback was regained over the course of the past two weeks. It’s the kind of volatility that makes gold investing a real headache … and it’s not like silver prices were any less erratic during Q1. Traders need not throw in the towel, however. They just need to take a step back and look at the bigger picture. Here’s some perspective to make sens...

Burglars dig tunnel to jewellery shop

March 30, 2015 at 13:36

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A gang of thieves dug a tunnel to a jewellery shop and decamped with a large quantity of silver articles worth thousands of dollars in the city of Mysuru in the early hours of Sunday. However, the incident only came to light later on Sunday morning. The burglars had targeted the Sri Lakshmi Bankers, a jewellery cum pawn shop, at Yeraganahalli on Mysuru-Bannur Road under Nazarbad Police limits. A hole 2ft wide and 5m long was dug perpendicular to an underground drainage tunnel in front of the shop. Police said the incident happened at around 3am and came to light only when shop owner Jayaram, resident of Yeraganahalli, opened the shop on Sunday morning. According ...

Silver's outperformance versus gold set to continue

March 30, 2015 at 13:28

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Gold eased back after a strong run that had seen the spot price rise for seven straight days. Uncertainty over the situation in Yemen, Greece and a rare bout of the wobbles for the dollar spurred the rise, but some profit taking saw spot gold ease US$5 to just under US$1,200. Even so, it was a good week for the metal, but even more so for near neighbour silver. It has risen by 8% in dollar terms in 2015 to date, whereas gold is up barely 1% said Capital Economics. Julian Jessop, Head of Commodities Research, said silver normally does better when prices of both metals are rising, but this time it has also proved more resilient in bouts of weakness. Jessop ha...

Volcker: Gold is the enemy as he doubts Fort Knox gold exists

March 27, 2015 at 06:30

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As a chairman of the Federal Reserve in the early ′80s, he was single handedly responsible for quashing stagflation by raising interest rates to an unheard of 20 percent by June 1981. What ensued was an unprecedented economic expansion and bull market in stocks, which was only seriously stopped by the Internet bust in 1999, caused by the lax monetary policy of Volcker’s successor Alan Greenspan. As part of a meeting of the Committee for Monetary Research and Education, Volcker (88) gave rare insights into his story, the working of the Fed, and current financial issues at the University Club in New York. Volcker served under both Democratic and Republican presidents...

HSBC: Gold likes deflation to

March 27, 2015 at 06:22

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With the world currently experiencing a slew of deflationary pressures, gold prices have been falling – deflation is classically considered negative for bullion, James Steel said in a note.   But this may not always be the case if pressures intensify – heavy deflation typically forces central banks into introducing new monetary policy measures and/or negative interest rates.   Sweden recently became one of the latest central banks to react to deflation, introducing a -0.25 percent rate and expanding its quantitative easing programme. Switzerland and Denmark also have negative interest rates.   “Deflation, while ostensibly negative for gold...

Short Squeeze? SocGen massively bearish call already underwater

March 26, 2015 at 09:45

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Analysts at the French Bank Societe Generale (SocGen) in their latest research report have forecast that the gold price, having given away all its early year gains, is headed sharply lower, as it saw the dollar continue its gain in strength. They thus expected the bear market in gold to continue further and saw the price as falling to average only $925 an ounce between 2016 and 2019. The timing of this report is unfortunate in that the forecast for a virtually immediate downturn in gold, together with dollar strength, has seen the reverse occur. Gold bulls will be fervently hoping that the bank’s analysts are equally incorrect in their forecast of gold’s longer-term prosp...