Gold Investing News reports gold price have dipped to its lowest since September 2007. An adviser to President Mahmoud Ahmadinejad was quoted by Reuters as saying, “With the plans of the presidency…the country’s money reserves were changed into gold, so that we wouldn’t be faced with many problems in the future.” Before oil prices plunged [...]
Gold Investing News reports spot price for gold closed at US$842.60 per troy ounce on Tuesday after the announcement of bailing-out the banks on Friday last week. Barnard Jacobs Mellet released a research report which suggests that gold mining companies are trading at very attractive valuations. The commentary outlined several reasons which included the relative market appreciation [...]
Gold Investing News reports on the recent financial turmoil and the bail-out plan approved by the US lawmakers, found investors are afraid to put money into banks but going for gold commodity instead. The Wall Street Journal has reported that export growth was anticipating a sharp decline in coming months, muting what had been one of [...]
Gold Investing News reports the credit crunch and seizure of assets lately in the US financial markets. The latest victim of the credit crunch was Washington Mutual Inc., a large Seattle based consumer and small business banking company that was established in 1889, as the Federal Deposit Insurance Corp. seized its assets on Thursday, selling [...]
Gold Investing News reports on the bail-out of distressed assets from banks due to the recent finanicial turmoil in the US. Questions about the oversight of the bailout- whether the proposal should require restraints on executives’ compensation at participating companies- and even the level of assistance it would provide for troubled homeowners are all being raised [...]
Gold Investing News reports financial markets were under pressure due to collapse of Lehman Brothers and AIG. Central banks have infused US$200 billion in order to alleviate some of the volatility. Leading the way, the European Central Bank injected US$99.8 billion, with the U.S. Federal Reserve adding US$50 billion, followed by the Bank of England [...]
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