Safehaven | Oil Breaks EUR40 Per Barrel for First Time

June 13, 2005

Oil Breaks EUR40 Per Barrel for First Time
by Mark O'Byrne

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.

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Gold Investments Weekly Newsletter - Oil breaks EUR40 per barrel for first time

Mark O'Byrne
www.goldassets.co.uk

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.

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