Gold

Ben Bernanke took centre stage yesterday, as he read a prepared text stating that that he sees no benefit in tapering of QE, pushing Gold up around $30 to over $1400/oz, with the expectation of prolonged money printing. After the prepared text, Ben Bernake held a Q&A session, which he subsequently stated that if employment and US data continued to improve then over the “next few meetings” the Fed could begin to taper. These comments led to a whipsaw in markets, as traders rev…

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The London Stock Exchange now makes more money from its by-product 'data' than from its core capital markets business - CityAM SNB will cap Franc as long as deflation risks persist - Bloomberg Yen remains weak, with many strategists recommend buying on dips, currently trading above 102Y Gold trades below $1400/oz Following the preliminary GDP figures, Japan’s Economy Minister Amari said the effects of Abenomics are beginning to appear EURUSD the ye…

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On Monday afternoon at the Boston Marathon, there were two large explosions near the finish line, killing at least two people and injuring dozens more. These atrocities were caught on camera via the media who covering the sporting event. Initially there was rumour and speculation as to the cause or who might be responsible however it seems too early to speculate without fact. The FBI has taken over the investigation into the explosions, with social media having a notable part in the rapid re…

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Nearly one in five UK companies favour leaving the EU - Bloomberg The Bank of Japan raised its assessment of all its regions for the first time since July 2012, citing a pickup in the global economy and resilient domestic demand, after unveiling unprecedented easing measures earlier this month - Bloomberg Gold and Silver continue their declines, spot Silver trading $24.50 and spot Gold traded as low as $1424.90/oz Dutch retail sales were down 4.8% YoY for February UK…

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BP has caught the headlines of the majority of the financial press, after being temporarily being banned from new government work in the United States. This ban came as a surprise to the markets, following the $4.5bn fine for the disaster caused by the 2010 oil disaster. The expected time frame for the suspension is likely to be no longer than 18 months, though it does send out a message to businesses that their actions will be met with government interventions. In the early part of th…

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During the Asian session, the Reserve Bank of New Zealand (RBNZ) left their base interest rate on hold at 2.5%. The central bank expects firmer growth for the final quarter of the year and into 2013, with the markets expecting no further interest rate cuts, the Kiwi Dollar rallied following the release. UK GDP is released at 9:30am (London) and is expected to show expansion, and that the economy has pulled out of recession. David Cameron has come under fire from the opposition for a su…

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During the US trading session on Monday, there was a sudden drop in a matter of minutes of just over $4 in WTI and Brent. This sudden movement led to a selloff in equities, gold and silver. Speculation and rumours as to the reasoning were that there had been a “fat finger,” an algorithm that had gone wrong and that there was an announcement of a special petroleum release (SPR). The CME Group quickly released a statement that they “..we’re not aware of any technical is…

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The better than expected US retail sales combined with the outcome of the Fed’s stress tests led to a strong close in the US with equity markets closing at multi year highs. In Asia equities followed their American counterparts and rallied with the regional index the MSCI set for its highest close in two weeks. The latest round of stress test’s on US banks paves the way for dividends to enable the backs to return cash to shareholders. 15 out of 19 institutions passed the te…

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