Weekly Markets Precious Metals - Gold in Euros up strongly Oil - Shell predicts 2 decades of rising energy prices Other Commodities - Chinese demand continues Currencies - The Euro, Oil and Gold Bonds - Greenspan's 'Conundrum' deepens Stocks - Toyota CEO; Top Hedge Fund Managers; Bull & Bear Markets
Weekly Commentary
The Irish Times on the 'New gold rush in town'
Opinions
Property, US Deficits, Bogus Accounting and Gold
Performance ( % Change)
Weekly Markets
Stock markets were mixed for the week.
Bond markets sold off with a corresponding rise in yields
Gold was up in dollars and euros; silver and oil were down and the majority
of commodities were down.
Precious Metals
Gold was up $3.80 or 0.91% for the week. It closed at $426.90 per ounce.
Silver recent rally ended and it sold off from $7.49 to $7.27 per ounce or
3.2% for the week. It was silver's first down week in 6.
Platinum (July) was down for the week; finishing at $868 from $874 per ounce.
Gold remained flat on Friday even after the poor US trade deficit numbers.
It spiked higher in the last hours of trade that sent gold upward to match
1 month closing highs and ended near it's highs. Besides a delayed reaction
to the deficit numbers another reason for the positive spike in gold could
have been due to the euro price of gold eclipsing the psychologically and technically
important EUR350 mark, resulting in buy orders among traders.
Silver traded mixed and near unchanged overnight on Friday before falling
in choppy trade in New York, but rallied back by the close to end the session
unchanged at $7.25; down by $0.24 or 3.2% to give it its first losing week
in 6.
Interestingly there is not one currency in the world which has outperformed
the universal currency gold since the turn of the millenium.
Brief Profile
Mark O'Byrne is Executive Director of Gold and Silver Investments Limited (www.goldassets.co.uk).
He is regularly quoted and writes in the international financial media and
was awarded Ireland's prestigious Money Mate and Investor Magazine Financial
Analyst of 2006. He is a financial analyst who believes that due to the current
macroeconomic and geopolitical situation, saving and investing a small portion
of one's wealth in precious metals is both prudent and wise. Gold and Silver
Investments Limited believe that hard tangible assets and monetary assets such
as gold and silver, the world's oldest forms of money, will once again become
the safe haven assets of choice in the coming years. The increasing economic
and geopolitical uncertainties at the dawn of the 21st Century mean that gold,
silver and platinum will become increasingly important in the new century as
a means of preserving financial wealth.
Gold & Silver Investments Limited is a precious metals
brokerage company which sells and buys a wide variety of gold, silver and platinum
numismatic and bullion products to all class of investor, companies and institutions
in Ireland, the UK and internationally taking payment in all major currencies.
We assist our clientele in diversifying their assets with a comprehensive range
of precious metal coin and bar products and by allocated and unallocated precious
metal storage facilities licensed by the Chicago Board of Trade (CBOT), Comex
and Nymex and by other precious metal storage programs.
Mission Statement
Gold and Silver Investments Limited hope to inform our clientele of important
weekly financial and economic developments and thus help our clientele and
prospective clientele understand our rapidly changing global economy and
the implications for their livelihoods and wealth. We focus on the medium
and long term global macroeconomic trends and how they pertain to the precious
metal markets and our clienteles precious metal savings and investments.
We emphasise prudence, safety and security as they are of paramount importance
in the preservation of wealth.
Disclaimer -- Legal Notice:
The information herein is based on sources which Gold & Silver Investments
Limited believes to be reliable, but we cannot warrant its accuracy or completeness.
Such information is subject to change and is not intended to influence your
investment decisions. This document is not and should not be construed as an
offer to sell or the solicitation of an offer to purchase or subscribe for
any investment. Gold & Silver Investments Limited have based this document
on information obtained from sources it believes to be reliable but which it
has not independently verified; Gold & Silver Investments Limited make
no guarantee, representation or warranty and accepts no responsibility or liability
as to its accuracy or completeness. Expressions of opinion are those of Gold & Silver
Investments Limited only and are subject to change without notice. Gold & Silver
Investments Limited assume no warranty, liability or guarantee for the current
relevance, correctness or completeness of any information provided within this
Report and will not be held liable for the consequence of reliance upon any
opinion or statement contained herein or any omission. Furthermore, we assume
no liability for any direct or indirect loss or damage or, in particular, for
lost profit which you may incur as a result of the use and existence of the
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www.gold.ie are those of the individual authors and do not necessarily represent
the opinion of www.goldassets.co.uk and www.gold.ie or
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