The Gold Blog

Happy 2009 to all the Gold Blog readers!
I think a dose of comedy gold wouldn’t go astray today as most of us are back to the 9 to 5 after some gloriously indulgent Christmas holidays.
Enjoy:

Gold Outperformed Most Assets in 2008 - Gold Up 3.9% in USD; Up 5.3% in EUR and Up 34.4% in GBP
Today’s London AM fix (23/12/08) was $844.01 (USD), £570.85 (GBP) and €603.72 (EUR). At the start of 2008 (January 2nd 2008), gold’s London AM Fix was at $840.75 (USD), £424.81 (GBP)  and €573.34 (EUR).
Thus, [...]

It wouldn’t be suprising if you had never heard of backwardation. Though many commodities markets are frequently in backwardation, especially for seasonal or perishable/soft commodities, it has only happened twice in history in precious metals. The last time it happened was due to the Hunt brothers’ infamous attempt to corner the silver market:
The COMEX and [...]

On the foot of recent reports that China is planning to diversify some of its massive foreign exchange reserves into gold, The Central Bank of the Russian Federation has released its latest data on its own foreign holdings (see here for original report).
The latest data shows the continuing trend that Russia has been quietly and [...]

The Washington Times’s Lawrence Hunter wrote last week that U.S. President-elect Barack Obama has an opportunity to reset the economy and restore the U.S. dollar to its preeminence as the world’s reserve currency by reestablishing the gold standard. He writes:
First, the new president-elect should state his unshakable resolve to preserve U.S. sovereignty over its currency [...]