Gold Hits Another Record High on news of South Korea Central Bank buying tons of Gold

Gold record high, spurred by U.S. economic worries and the European debt crisis."gold has traded at another record 1,645 an hour, hitting the all-sometime nominal high, just at the close of equities trading in europe. that brought the losses there brought gold to the new highs we're seeing, but there are several factors at work here. yes, we may be close to a debt deal in washington, but traders are focused on the fact we may see a double dip in the economy here in the u.s. and in europe as well. and add to that the buys we're sees fromation central banks. the first time sorry has bought gold since in 13 years, this is the we're rear looking at central 245s something that's drives the interests to an all-time high. back to you. sharon epperson, thanks so much. electronics arts is starting something new."






Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

Bob Chapman - Radio Liberty - 1st Aug 2011- 3rd hour

Bob Chapman :   they want to cut back on social security and medicare this is what they are really after , they want to divert that money for the military industrial complex in order to start more wars and better wars overseas

Gold on Fire today !

" Gold on fire and hitting a new record as they passed the debt limit bill. the traders are saying, yeah, now the deal is done and it has been priced in. what happened about the u.s. downgrade? Fitch came out and they pieced the market with their commentary and we still haven't heard from s&p and moreover as bob mentioned and now the focus is back on the global macro issues that have been in this market place and have caused this gold to rally. the sovereign debt crisis remains and the fact that we have such weak economic data or the ism manufacturing data yesterday and then there's the bank of south Korea. of course, a number of the Asian banks over the last year and a half have been buying gold, India, china and now the bank of south Korea have about 25 metric tons of gold, the first time that they purchased gold in 13 years and this is highlighting the bullish stance that central banks have for gold and the need to diversify away from the dollar and that's what we're seeing in Korea over the last two months"





Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

South Korea central bank stocks up on Gold

South Korea has spent more than a billion dollars in gold: the first acquisition in over a decade, justified by uncertainty about global growth and problems related to the sovereign debt of various countries that led the central banks to diversify their reserves in order to protect themselves from market volatility.

The central bank of South Korea announced the move in a statement which says that the central bank has bought 25 tons of gold bullion over the past two months, bringing the total to 39.4 tons of gold reserves. The news helped boost the price of gold which has now reached a new record of $1660/oz


Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

Bob Chapman : they want to eliminate Social Security and Medicare

Bob Chapman - Radio Liberty - 1st Aug 2011

Bob Chapman - 95 percent of the people in the congress are bought and paid for no matter what party they are in , the bottom line really for this all is about finding a way to eliminate social security and medicare , it is a foot in a door thing with the social security

Soros is Wrong - The Gold is going to $2000/oz

Michael Lewis of Deutsche Bank : Gold price seem to go up when the dollar is falling it goes up when the dollar is rising , people buy it on inflation protection and they buy on deflation protection it is almost in any economical environement it seems to go up , the environment for us is negative the real interest rates are weak , all of this is very favorable to Gold and think we are still going to go up I think the bubble number is beyond $2000/oz so we do have another 20 to 30 percent to go




Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)