The ancient country of Greece has a very rich and distinguished history in matters of philosophy, science and the arts. But, unfortunately, modern Greece is struggling with a poor and lackluster economy. Prime Minister of Greece Alexis Tsipras and German Chancellor Angela Merkel met in Berlin last Monday (3/23) to try to reach some sort…
New Pricing Mechanism to Replace London Gold Fix
Twice each business day via dedicated conference line, The London Gold Fix informally provides a recognized benchmark for pricing gold products throughout the world’s markets. This long established pricing mechanism is set to be replaced according to yesterday’s announcement. Beginning in March 2015, The Intercontinental Exchange (ICE) and the London Bullion Market Association (LBMA) will…
Fed Chair Janet Yellen Can’t Make Up Her Mind
Gold futures fell three sessions in a row after Federal Reserve Chairwoman Janet Yellen’s semi-annual testimony last Tuesday, July 15. Overall, Yellen’s comments to the United States Senate were “dovish” in nature, warning against spiking interest rates on the back of sooner-than-expected employment gains. “If the labor market continues to improve more quickly than anticipated…
Yellen Talks Gold at Senate Hearing
Fed Chair nominee Janet Yellen spoke briefly about gold prices today during the Q&A session with the Senate at her confirmation hearing. After the opening statements and answering questions regarding employment, quantitative easing and the monetary policy, Senator Dean Heller of Nevada asked Yellen if she knows why gold prices fluctuate and if the economy…
