Source: ForexYard

The USD/JPY spent most of the day yesterday within reach of a recent four-month high, as speculations that the Bank of Japan would soon initiate a new round of quantitative easing continued to weigh down on the yen. In addition, positive data out of the US boosted confidence in the US economic recovery. Today, the main piece of economic news traders will want to pay attention to is the US Advance GDP figure, set to be released at 14:30 GMT. Should the figure come in above the forecasted 1.9%, the dollar may be able to extend its recent gains against the yen before markets close for the weekend.

Economic News

USD – Positive US Indicators Help Keep Dollar Bullish

Better than expected US indicators, including the Core Durable Goods Orders and Unemployment Claims figures, helped keep the US dollar bullish against several of its main currency rivals during the European session yesterday.

Against the Japanese yen, the USD was able to advance close to 30 pips to reach a new four-month high at 80.22 during afternoon trading. The greenback saw similar gains against the Swiss franc to trade as high as 0.9323. That being said, the day was not all positive for the dollar. A better than expected British GDP figure resulted in the GBP/USD gaining more than 80 pips to trade as high as 1.6142.

Turning to today, dollar traders will want to focus their attention on the US Advance GDP figure, set to be released at 14:30 GMT. As the sole piece of significant news today, analysts are forecasting heavy market volatility after it is released. Should the indicator come in above the forecasted 1.9%, the USD may be able to extend its recent gains against the yen and Swiss franc and recoup some of yesterday’s losses against the British pound.

EUR – Euro-Zone Data Turns Euro Bearish Once Again

While the euro did see fairly significant gains during Asian trading yesterday, disappointing euro-zone indicators, combined with general concerns regarding Spain and Greece caused the currency to turn bearish once again during the European session. The EUR/USD fell close to 40 pips during mid-day trading to trade as low as 1.2971. While a minor upward correction took place later in the day, the pair was unable to advance past the psychologically significant 1.3000 level. Positive British news resulted in the euro tumbling close to 60 pips against the GBP, eventually reaching as low as 0.8040.

As markets get ready to close for the weekend, a lack of significant euro-zone news means that any price shifts the euro sees are likely to be a result of US data. Specifically, the Advance GDP figure, forecasted to come in at 1.9%, could lead to euro volatility. If the indicator comes in above the expected level, investors may shift their funds to riskier assets, which could result in euro gains against the safe-haven Japanese yen.

Gold – Gold Bounces Back from 7-Week Low

After hitting a seven-week low earlier in the week, gold was able to bounce back during European trading yesterday amid speculations that the Bank of Japan will soon initiate a new round of monetary stimulus to boost the Japanese export industry. The precious metal advanced more than $10 an ounce over the course of the day, eventually reaching as high as $1717.43 during the afternoon session.

Today, gold traders will want to continue monitoring American news and its impact on the US dollar. If the Advance GDP figure comes in above expectations and benefits the greenback, gold may reverse its current bullish momentum. A strong dollar typically causes gold to decrease in value, as the precious metal becomes more expensive for international buyers.

Crude Oil – Oil Stages Minor Recovery Ahead of US GDP Figure

After hitting its lowest level in almost four months earlier in the week, crude oil was able to stage a very slight upward recovery during European trading yesterday. The price of crude advanced more than $0.60 a barrel to trade as high as $86.70, before reversing once again and stabilizing at the $86.20 level.

Turning to today, oil traders will want to pay close attention to the US Advance GDP figure, set to be released at 14:30 GMT. As the world’s leading oil consuming country, news out of the US tends to have a significant impact on the price of crude. Any better than expected data could lead to speculations that demand for oil in the US will increase, which could help the commodity recover some of its recent losses.

Technical News

EUR/USD

The weekly chart’s Williams Percent Range is currently in overbought territory, signaling that this pair could see a downward correction in the coming days. This theory is supported by the same chart’s Slow Stochastic, which has formed a bearish cross. Traders may want to open short positions for this pair.

GBP/USD

The Relative Strength Index on the weekly chart is approaching the overbought zone. Furthermore, the MACD/OsMA appears close to forming a bearish cross. Traders will want to keep an eye on both of these indicators, as they may signal a possible downward correction in the near future.

USD/JPY

The daily chart’s Slow Stochastic has formed a bearish cross, indicating that this pair could see downward movement in the near future. Additionally, the Relative Strength Index on the same chart is in overbought territory. Going short may be a wise choice for this pair.

USD/CHF

The MACD/OsMA on the daily chart has formed a bullish cross, indicating a possible upward correction in the near future. Additionally, the weekly chart’s Williams Percent Range has crossed into oversold territory. Opening long positions may be the smart choice for this pair.

The Wild Card

EUR/JPY

A bearish cross on the daily chart’s MACD/OsMA is indicating that this pair could see a downward correction in the near future. This theory is supported by the Relative Strength Index on the same chart, which has crossed above the 70 line. This may be a good time for forex traders to open short positions ahead of a bearish correction.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By TraderVox.com

Tradervox.com (Dublin) – The new Reserve Bank of New Zealand Governor Graeme Wheeler signaled in his inaugural address the he wants a weaker New Zealand dollar but without having to resort to unorthodox policies that might disrupt the efforts being made to contain inflation in the country. In the statement, Wheeler noted that the central bank wants to see a weaker NZ dollar without hurting price and financial stability in the country. Despite the growing concerns in Europe, China, Japan and US, coupled with the internal difficulties to contain unemployment, inflation and the struggling growth in New Zealand, the kiwi has managed to outperform many currencies, increasing by 5.3 percent this year.

According to Mark Smith, a senior economist in Wellington at ANZ Bank New Zealand Ltd, it is clear that the strong kiwi is giving the RBNZ a headache, noting that the new governor is trying to be realistic about the impact that domestic monetary policy has on the foreign exchange rate. He noted that the RBNZ is not considering rate cuts to ease pressure on the currency. The New Zealand currency, which rose to 82.43 US cents yesterday, the strongest in three weeks, fell after the comments by the Governor, closing the day at 81.77 US cents.

In his inaugural statement today, Wheeler ruled out the possibility of quantitative easing and noted that rate cuts might fail to achieve the required results. The Reserve Bank of New Zealand retained its cash rate at 2.5 percent. The strong kiwi is hurting manufacturer’s exports, limiting investment in tourism and it is curbing companies’ earnings according to the statement. The situation has been compounded by reports released today showing that the nation’s trade deficit was the widest since 2009 in the third quarter. Wheeler also indicated that the central bank is ready to sell its dollars, but more will have to be done in order to make sure that the timing will right.

Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management. 

Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
Follow us on twitter: www.twitter.com/tradervox

Source: ForexYard

Uncertainty regarding the Spanish debt crisis led to risk aversion among investors during the overnight session, causing higher-yielding assets to take losses. The euro fell close to 40 pips against the US dollar, eventually trading as low as 1.2915 before bouncing back to its current level of 1.2930.

After hitting a four-month high at 80.37 during evening trading yesterday, the USD/JPY dropped more than 50 pips during the Asian session to trade as low as 79.83. The pair currently stands at 79.90.

Gold also resumed its downward trend during Asian trading. The precious metal fell by close to $14 an ounce throughout the night, and is currently trading just above the psychologically significant $1700 level.

Main News for Today

US Advance GDP- 12:30 GMT
• The US economy is forecasted to have grown 1.9% in the third quarter of this year
• Should today’s news come in above 1.9%, the dollar may be able to recover last night’s losses against the JPY before markets close for the weekend

Read more forex news on our forex blog

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By The Sizemore Letter

Listen to Charles Sizemore discuss the end of the Apple mystique with InvestorPlace’s Jeff Reeves.

If you cannot view the embedded video player, follow this link: “End of Apple Mystique“

The post AAPL Earnings – The End of the Apple “Mystique” appeared first on Sizemore Insights.

Related posts:

• Interview with Charles Sizemore and InvestorPlace’s Jeff Reeves
• Listen to Charles Sizemore Discuss the Spain Bank Bailout and Dividend Paying Stocks with Mike Robertson
• Charles Sizemore on Market Carver

GBPUSD is facing the resistance of the downward trend line from 1.6309 to 1.6178, a clear break above the trend line resistance will indicate that the downtrend from 1.6309 had completed at 1.5913 already, then further rise to test 1.6309 previous high resistance could be seen. On the downside, as long as the trend line resistance holds, the rise from 1.5913 would possibly be consolidation of the downtrend, one more fall to 1.5800 area is still possible.

Daily Forex Forecast

By MoneyMorning.com.au

Australian federal Treasurer Wayne Swan is copping a lot of flak.

In fact, we’ve jabbed him in the ribs once or twice ourselves.

Take the front page of today’s Australian Financial Review (AFR):

‘Treasurer Wayne Swan was warned four months ago the minerals resource rent tax wouldn’t raise any revenue in the first quarter and possibly throughout the rest of the financial year, threatening Labor’s budget surplus.’

Yesterday, shadow Treasurer Joe Hockey said:

‘The tax has failed. I have never heard of a tax that doesn’t raise a dollar.’

What on earth is Mr Hockey going on about? To our mind a tax that doesn’t raise a dollar is the kind of tax we’d vote for (if we believed in voting). In fact, we’d like to offer Mr Swan a few words of encouragement.

Perhaps he could extend the mining resource rent tax (MRRT) formula to income tax, GST, superannuation tax, company tax, and every other tax. Imagine that; the government wouldn’t raise a single dollar of tax. The money you earned would stay in your pocket…how radical.

So far from being pilloried, we welcome Mr Swan to the libertarian, free market, anti-tax fold.

Unfortunately, we don’t expect Mr Swan to stick to his no-tax policy for long. Because based on what we’ve seen overseas, Australia is heading for its own fiscal cliff, and that means higher taxes and more government debt…

The way the Aussie mainstream media and politicians react, you’d think that Aussie politicians and bureaucrats are geniuses.

That somehow, in a world of expanding credit, rising government spending and economic busts, the Aussie big-wigs are smarter than everyone else.

But it’s not surprising the dopey mainstream has that view. After all, they hear it all the time from the people they adore…the politicians and central bankers.

Take this from a speech by Reserve Bank of Australia Head of Financial Stability, Dr Luci Ellis:

‘It would likewise be a mistake to conclude that just because housing markets in some countries have caused problems, they always will, in all countries. The US market is quite unusual. Housing booms have to end sometime, but they don’t have to end in tears. Among other things it takes the passage of time and diligent attention from the regulators to ensure housing booms don’t end in a harmful bust, but it can be done.’

In other words…wait for it…that’s right…all together now…

Australia is Different

Hmm. Not so different after all.

We turn to page three of today’s AFR to read the following story:

‘The new $850 million Soul tower at Surfers Paradise on the Gold Coast has fallen into receivers’ hands after more than 100 apartments bought during the boom were not settled by their purchasers….

‘The 288-apartment Soul project had $400 million worth of pre-sales during 2006-07. Not one apartment in the tower sold for less than $1 million. The four-level penthouse made a record $16.85 million when it sold off the plan in 2006.’

It appears that same penthouse is up for sale. If you’d like to make an expression of interest, you can click here for the website.

Seeing what’s happened to the rest of the Gold Coast property market, we’ll bet on a sales price under $7 million…if they can sell it at all. Even ‘marvellous water views‘ won’t save the owner from a big loss…and you can’t get more marvellous than 73 floors above Queensland’s Gold Coast.

So, if you believe Dr Ellis, housing busts don’t have to end in tears. And apparently Aussie regulators have done a top job making sure a bust doesn’t happen here.

Tell that to Gold Coast property investors.

But this is only part of the story. The Aussie economy is following the rest of the Western world as though it was following a cooking recipe…

Government Spending Cuts or Higher Government Debt?

One of the big stories told by the Australian government and its supporters is that the Aussie government debt position is much stronger than countries overseas.

They say the Australian government isn’t as irresponsible as those clowns in Greece, Spain, Ireland, the UK, and US who keep spending money they don’t have.

Here’s what economist Stephen Koukoulas wrote in Business Spectator this week:

‘Today’s MYEFO confirms that government spending, in real terms, will fall by a record 4.4 per cent in 2012-13. By itself, the Commonwealth government fiscal measures will cut around 1 per cent from GDP. In 2012-13, nominal government spending will fall by around $7.8 billion, the first time there has ever been such a decline. The government is using the return to trend growth as a reason for it cutting expenditure so sharply.’

It’s funny. The only time we ever hear references to ‘real terms’ and ‘nominal’ spending is when commentators talk about government spending.

Of course, there’s a reason for that. Because in reality, the government doesn’t really cut spending. In reality, the government only increases spending.

If you don’t believe us, just check out the government’s own spending forecasts. In 2011-12, the federal government spent $377.7 billion of taxpayer dollars. That equated to 23% of GDP.

Based on Monday’s estimates of this year’s spending, the government will only spend $375 billion. That’s a cut, right? It’s $2.7 billion less than last year.

Trouble is, the government had banked on getting $2 billion last quarter from the big resources companies for the MRRT. It actually received…nothing…not a penny.

That means the government’s supposedly slim surplus will shortly turn into a budget deficit. Even if we believe the government will spend less this year, it doesn’t matter, because the government is set to steal less in taxes than it will spend.

And so, to cover the deficit, the government will have to borrow more money…on top of the $254.5 billion of current outstanding debt.

This is how debt problems start. The government goes into debt, believing they can pay it back. But then something unexpected happens. So they have to go further into debt. And because their expenses are more than their income (taxes), they have to take out more debt. And on it goes.

Is it too extreme to say Australia is heading the way of the UK, US, Greece, Ireland, and Spain? No, it isn’t. Australia has ridden on the back of the Chinese Dragon for nearly 10 years, and that ride is over.

Diversify Your Money Now

Bottom line: it’s now a good time to diversify your investment exposure away from Aussie assets. One method is to buy gold. Another other way is to buy foreign currency denominated assets.

Our old pal, Greg Canavan, has warned readers to diversify out of the Aussie dollar in his China Bust report. He’s picked two specific ASX-listed assets, designed to cut your exposure to the Aussie economy.

The Aussie dollar has held up well in recent months, but as the federal government’s budget position worsens, as it issues more government debt, raises taxes, and as inflation picks up, global demand for Aussie dollars will weaken.

That’s bad news for everyone…except those with the foresight to act before it happens.

Cheers,
Kris

From the Port Phillip Publishing Library

Special Report:
After the Bust

Daily Reckoning:
The Mistake of the Mining Tax

Money Morning:
Which Economy Will Be First to Fall – Argentina or Venezuela?

Pursuit of Happiness:
Why a Return to the Gold Standard Could Actually Be Bad

Does Excessive Government Spending Make You the World’s Best Treasurer?

By MoneyMorning.com.au

This may sound a little controversial, particularly if you have been taking sides in the US election. But hear me out.

The latest wobbles in the US stock markets aren’t all about disappointing corporate results.

Sure, signs of a slowing global economy are unnerving investors. But results haven’t been that atrocious. And you’d have to be wilfully ignorant not to have noticed that China is slowing down by now.

No, the jitters are mainly down to one thing.

Investors in the US are suddenly scared that Mitt Romney might win the election…

A Month is a Very Long Time in Politics

A month or so ago, it looked like Barack Obama had a reasonably easy ride towards reclaiming the presidency. The bookies – the only people you can have any real faith in as they’re actually putting money at stake – were all backing the incumbent to romp home with the prize.

Three televised debates later, it looks like anyone’s game. Many polls have Romney as the winner, and even the bookies are no longer as ‘long’ Obama as they were before.

If you look at betting website Intrade, Obama’s odds of winning have plunged over the past month or so. He’s still the favourite, but by nowhere near as much.

Now, let me make one thing clear here in case you’re in any doubt: I have no drum to bang for either candidate. This isn’t a political statement.

Quite apart from the fact that I can’t vote in the US election, and don’t really feel very strongly about it, neither of the candidates seems terribly impressive.

Obama has spent most of his time cheerfully pandering to Wall Street while pushing through his pet healthcare plan.

As for Romney, it’s hard to trust a man who can change his views so readily to fit his audience. He’s unusually adept at that, even by politicians’ standards.

So, in short, I don’t really care who wins. But Wall Street does.

Romney: A “hard money” Kind of Guy?

There are few definitive differences between the candidates as yet. As Julian Jessop of Capital Economics notes, neither has spelt out ‘a detailed manifesto.’ Their policy statements so far ‘are of the “motherhood and apple pie” variety – hard to disagree with but lacking any real substance.’

Yet, as private bank Lombard Odier points out in its latest bulletin, investors seem to have got it into their heads that Romney is a “hard money” kind of guy. Or at least, he’s less of a “soft money” kind of guy than Obama is.

He threatened earlier this year to ditch Ben Bernanke as head of the Federal Reserve, for example.

Lombard Odier is sceptical about the ability of quantitative easing (QE) to boost the “real” economy. But QE does ‘affect asset prices.’ So if Romney wins, and somehow stops the money-printing, ‘that could trigger a collapse of overvalued and liquidity-addicted US equities.’

Of course, there are a lot of “ifs” between now and that particular outcome. For a start, Romney has to win. Secondly, he’d have to follow through on his promise not to reappoint Bernanke in 2014, when his job is up for renewal.

(Although it seems Bernanke may not even want a third term in any case). Finally, whoever took over from Bernanke would have to be ‘less aggressive in his monetary policy’.

None of this is all that likely. After all, Bernanke was no less of a money-printer than his predecessor Alan Greenspan. Whoever follows Bernanke is likely to follow the same methods.

But that’s not to say a change couldn’t happen.

And then there’s this infamous fiscal cliff. As Jessop notes, ‘The Republicans have a large majority in the House while the Democrats control the Senate.

A Republican clean-sweep is possible but it is more likely that Congress will remain divided, which would limit any President’s room for manoeuvre.’

In the face of all this uncertainty, what can an investor do?

The answer’s simple. Just don’t get involved.

As we’ve noted already, the US stock market is overpriced in any case, regardless of who wins the election. So wait for a better opportunity to buy in. And in the meantime, there are other areas of the world that offer much better value.

As Lombard Odier puts it, ‘as long-term investors’ they like cheap regions, such as Europe, ‘where underlying risks are priced in.’ When it comes to the US, however, ‘downside is significant and upside is limited.’

John Stepek

Contributing Editor, Money Morning

Publisher’s Note: This article originally appeared in MoneyWeek

From the Archives…

Why this Could be the Most Important Day of the Year for the Stock Market
19-10-2012 – Kris Sayce

A Back-Door Way to Invest in the Electric Car Industry
18-10-2012 – Kris Sayce

The Stock Market is Up, What’s Next?
17-10-2012 – Murray Dawes

Debt and Government Spending Means You Should Be Wary of this Stock Market
16-10-2012 – Greg Canavan

The Secret Investment to Buy When GDP Falls
15-10-2012 – Nick Hubble

Why Romney Has US Investors Rattled

By Central Bank News
    The central bank of the Philippines cut its key policy rate by 25 basis points to 3.50 percent, as expected by many economists, as low inflation gave Bangko Sentral ng Pilipinas (BSP) room to strengthen domestic activity while global economic prospects continue face considerable headwinds.
    BSP described the inflationary environment as “benign,” saying forecasts indicate that inflation will remain on target from this year to 2014 and the risks to inflation are balanced.
    The central bank has now cut the rate on its key overnight borrowing, or reverse purchase facility, four times this year for a total reduction of 100 basis points. The overnight lending rate was also cut by 25 basis points to 5.50 percent.
    The Philippine inflation rate eased to 3.6 percent in September from 3.8 percent and the BSP targets annual inflation of 3-5 percent.
    The central bank said it would closely monitor future price and output conditions, but did not give any further signal about the future move in interest rates.
     The Philippine economy expanded by an annual 5.9 percent in the second quarter, down from 6.4 percent in the first, and the central bank said the domestic economy remained strong, but “additional policy support could help ward off the risks associated with weaker external demand by encouraging investment and consumption.”
     “World economic conditions are likely to remain tepid as fiscal and financial sector stresses in advanced economies continue to dampen market confidence,” the bank added.
    Financial markets had expected the BSP to cut rates, not only to bolster the economy but also in an attempt to stem the appreciation of the peso currency, which is above the 2012 exchange rate assumed by the bank.
    The BSP made no mention of the currency in its statement.
    www.CentralBankNews.info

London Gold Market Report
from Ben Traynor
BullionVault
Thursday 25 October 2012, 08:15 EDT

WHOLESALE gold bullion prices rallied to $1718 an ounce Thursday morning in London, less than 24 hours after dipping below the $1700 mark for the first time since the US Federal Reserve announced a third round of quantitative easing last month.

Gold in Sterling however ended the morning lower at £1068 per ounce, close to yesterday’s seven-week low, as the Pound rallied after the release of better-than-expected UK economic growth data.

Silver bullion meantime hovered around $32.20 an ounce, roughly in line with where it started the week, with other commodities also broadly flat.

“Lower prices now seem to be attracting new buyers [for gold],” says today’s Commodities Daily note from Commerzbank.

“India should come back to the market because Diwali is coming,” added a dealer of physical gold bullion in Singapore this morning, speaking to newswire Reuters.

“We should be expecting a big volume of sales or a last minute rush before the celebration.”

Here in the UK, the economy exited recession in the third quarter, growing by 1% in the three months to the end of September, according to the official preliminary GDP estimate published Thursday.

“In comparison to Q2, the latest quarter had one more working day and this will impact on the growth between the second and third quarters,” the Office for National Statistics said.

“In addition…the latest GDP estimate was affected by the Olympics and Paralympics events in the third quarter.”

“There’s now a good chance the economy won’t actually contract on average for this year,” says Scotiabank analyst Alan Clarke.

“It’ll probably be flat and in the context of monetary policy, it reinforces the case for the Bank of England to pause on QE.”

“The [Bank of England’s] Monetary Policy Committee will think long and hard before it decides whether or not to make further asset purchases,” Bank governor Mervyn King said in a speech on Tuesday.

“At this stage, it is difficult to know whether some of the recent more positive [economic] signs will persist…but should those signs fade, the MPC does stand ready to inject more money into the economy.”

King added however that “the Bank could not countenance any suggestion that we cancel our holdings of [UK government] gilts”, an idea that Financial Services Authority chairman Adair Turner, a candidate to replace King next year, is reported to favor.

The Bank’s current £375 billion asset purchase program is due to end next month.

The UK Statistics Authority meantime has said it will investigate whether any laws were breached when prime minister David Cameron, who received the latest GDP figures 24 hours before their release, told Parliament yesterday that “the good news will keep coming”.

Over in the US, the Federal Open Market Committee “will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month,” last night’s FOMC statement said, “[in order to] support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate [of maximum employment and stable prices].”

The central banks of Brazil and Ukraine between them added just over 2 tonnes of gold bullion to their reserves last month, according to International Monetary Fund data published Thursday. This is the first reported gold buying by Brazil in four years.

Russia, Belarus and Kazakhstan, all three of which have added to gold reserves earlier in the year, made sales last month totaling just over four tonnes, the IMF says, while Venezuela, which repatriated most of its foreign-held gold last year, sold 3.7 tonnes.

Spot gold ended September up nearly 5%, in a month that saw Fed and European Central Bank both commit to open-ended asset purchases.

Germany’s Bundesbank meantime withdrew two-thirds of its gold held in London over a decade ago when the Euro was launched, according to the Telegraph’s Ambrose Evans-Pritchard, citing a confidential report compiled this week by German auditors.

Earlier this week it was reported that the Bundesbank is planning to ship gold back to Germany for inspection from the New York Fed, after federal auditors said it should regularly inspect its foreign-held gold bullion.

Ben Traynor
BullionVault

Gold value calculator   |   Buy gold online at live prices

Editor of Gold News, the analysis and investment research site from world-leading gold ownership service BullionVault, Ben Traynor was formerly editor of the Fleet Street Letter, the UK’s longest-running investment letter. A Cambridge economics graduate, he is a professional writer and editor with a specialist interest in monetary economics. Ben writes and presents BullionVault’s weekly gold market summary on YouTube and can be found on Google+

(c) BullionVault 2012

Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.