Capital Gold Group Report: Gold Investments Market Update
GoldSeek - 2/8/08
Gold was up $5.90 to $906.40 per ounce in trading in New York yesterday and silver was up 23 cents to $16.74 per ounce. Gold continued to rally in Asia and surged in early trading in Europe and is up to $915 per ounce. Silver has also surged and is up to $17.02 per ounce.
Gold again
rose in the other major currencies and surged to new near record highs
in euro and sterling. The London AM Fix at 1030 GMT this morning was at
$914 (up from $908.25 yesterday). Gold fixed at £468.96 (up from
£465.53 yesterday) and €631.17 (up from €620.516 yesterday). (See table
of record highs in various currencies below.)
Gold looks set to challenge last week’s $936.80 record high and once again confound the skeptics. Gold is surging in all major currencies as it seems likely that major Central banks are set to cut interest rates in order to prevent a global recession. Even the ECB, the most hawkish and inflation conscious of all the central banks, is faltering in its resolve to target and fight inflation which is negative for the euro and indeed for all fiat currencies and indeed the asset classes denominated in those currencies.
Capital Gold Group, gold, gold prices, gold demand, euro v. dollar, fiat currencies, gold record high, gold currency, Central Banks, hard asset class, global recession, U.S. recession, inflation, silver
Gold was up $5.90 to $906.40 per ounce in trading in New York yesterday and silver was up 23 cents to $16.74 per ounce. Gold continued to rally in Asia and surged in early trading in Europe and is up to $915 per ounce. Silver has also surged and is up to $17.02 per ounce.
Gold again
rose in the other major currencies and surged to new near record highs
in euro and sterling. The London AM Fix at 1030 GMT this morning was at
$914 (up from $908.25 yesterday). Gold fixed at £468.96 (up from
£465.53 yesterday) and €631.17 (up from €620.516 yesterday). (See table
of record highs in various currencies below.)Gold looks set to challenge last week’s $936.80 record high and once again confound the skeptics. Gold is surging in all major currencies as it seems likely that major Central banks are set to cut interest rates in order to prevent a global recession. Even the ECB, the most hawkish and inflation conscious of all the central banks, is faltering in its resolve to target and fight inflation which is negative for the euro and indeed for all fiat currencies and indeed the asset classes denominated in those currencies.
Capital Gold Group, gold, gold prices, gold demand, euro v. dollar, fiat currencies, gold record high, gold currency, Central Banks, hard asset class, global recession, U.S. recession, inflation, silver
