Gold advanced to a three-week high as unrest in the Middle East spurred demand for a haven.
U.S. President Barack Obama authorized air strikes in Iraq and Russia banned agriculture imports from the U.S. and European Union in retaliation over sanctions stemming from the conflict in Ukraine. Israel said a cease-fire with Hamas forces in Gaza was violated hours before it was due to expire.
Gold Daily Signal. Gold futures jumped the most in almost three weeks in New York as signs of escalating tension between Ukraine and Russia fueled demand for precious metals as a haven.
NATO said there’s a risk of Russia sending troops into Ukraine under the “pretext” of a humanitarian or peacekeeping mission after President Vladimir Putin massed soldiers on his country’s western border. The MSCI All-Country World Index of equities fell as much as 0.6 percent.
"Inflation is when you pay $15 for the $10 haircut you used to get for $5 when you had hair." - Sam Ewing
The Golden Age in Greek mythology was a beautiful period to live in. As legend had it, this was a period of time where people never had want, work was leisurely, and peace reigned. Men lived like gods, and there was no struggle or strife. Makes me wonder if quantitative easing was around back then, given that the Fed seems to think we are in or about to re-enter a time when asset values will never fall, the economy is improving, and money is plentiful for all.
Gold Daily News. Gold climbed in New York on speculation prices below $1,300 an ounce will spur demand before the Indian wedding season and China’s Golden Week.
Gold is trading at a premium in Shanghai over London, signaling more demand for gold out of London, said Adrian Ash, head of research at Bullion Vault, an online service for investors to trade and store gold and