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10 key points about gold

10 key points about gold

1.- It costs 7.8c to create a C note(100 USD bill), 2 grams of gold(spot price roughly $80) costs roughly $75 to mine.
2.- US national debt is increasing by between 1/2 and 1 trillion USD annually.

3.- Annual gold production for the past few years has averaged 2500 tonnes.
Federal Reserve announcement

Fed fails to taper - implications for gold and silver

Last week the Federal Reserve announced to a surprised financial community that there would be no reduction in money printing this month. The markets had priced in a 5 to 10 billion reduction in the Fed’s 85 billion USD a month of QE which has been channelled into mortgage backed securities and US treasuries to support the US housing and government debt markets and thus keep interest rates at abnormally low levels.
Bond yields up, gold and silver up and stocks down

Bond yields up, gold and silver up and stocks down...

Exciting price moves for silver and gold

Both silver and gold pushed up strongly in the last few days with Thursday the 15th August being notable as silver moved up 70 cents from 16.50 euro to the 17.20 area. This is hugely interesting because the silver price has been anchored down around the 15.00 euro area for most of the summer and just 2 weeks ago it was down to 14.80 as the Fed issued new commentary regarding tapering.
Gold Bull Market

Is the Gold Bull Market Over?

For those who are disillusioned by the recent downturn in the price of gold and silver, it is worth re-visiting the fundamentals of what exactly has been driving the current bull market.

Ask yourself the 13 questions below and then ask yourself is the perceived bull market decline based on a change in the facts or on simple sentiment:

Are the PIIGs reduced their debt burdens?
Concerned at the fall in the gold price

Concerned at the fall in the gold price?

Concerned at the fall in the gold price? Since September 2012 to date the gold price has gone from 1384 euro all the way down to the sub 1200 euro area now (22cd Feb). Today an ounce of gold costs 1195.44 euro and we’ve seen gold tumble down…
10 Reasons to buy Gold now.

10 Reasons to buy Gold now

10 Reasons to buy Gold now...The bubble in government debt is showing signs of bursting – look at the performance of US treasuries since the start of 2013 – yields are rising which is an ominous development for overstretched and…
Where to now for the Gold Bull

Where to now for the Gold Bull

Where to now for the Gold BullBy Shane Carroll – Goldbank.ieWe are 10 years into a precious metals bull market which has seen gold go from under $300 an oz at the end of the stock market bubble in 1999 and 2000 to over $1500 dollars…
A New Gold Standard - Robert Zoellick

A New Gold Standard

A New Gold Standard?By Shane Carroll / Goldbank.ieRobert Zoellick Head of the World Bank since 2007 has called for a discussion on a new Gold Standard in an article in the Financial Times this week. Since 1971 when the US effectively…