- Prison Planet.com - http://www.prisonplanet.com -
Gold Surges On Weak Economy Data and Eurozone Debt Crisis
Posted By admin On September 6, 2011 @ 8:26 am In Featured Stories | Comments Disabled
September 6, 2011
Gold has climbed once again as word circulates about a possible third round of money printing  by the Federal Reserve on weak payroll data, tumbling stock markets, and the eurozone debt crisis.
“Gold gets a boost from further deterioration in the Greek sovereign debt crisis followed by heavy investor buying in the wake of U.S. jobs data showing no growth in employment,”James Steel , an analyst at HSBC Securities USA Inc., told Bloomberg on Monday.
The European Central Bank has exploited the debt crisis to call for eliminating national sovereignty.
Both Citibank and Goldman Sachs anticipate a third round of so-called quantitative easing following the Federal Reserve’s second round. The Fed purchased $600 billion of Treasuries in QE2 after dumping $1.25 trillion in the first round. QE4 is likely to begin this week after the Bank of London starts buying bonds.
Although gold has backed off its overnight all-time record high of $1,923.70, it is trading at$1,889.50 an ounce  today.
The yellow metal is in the eleventh year of a bull run as investors diversify away from equities and fiat currencies.
“In the short term, gold prices are going to be underpinned by many supporting factors, whether it’s euro-zone debt concerns, slowing growth in the U.S. and the potential for another round of quantitative easing,” said Ong Yi Ling , investment analyst at Phillip Futures in Singapore.
“When you buy gold, it’s an insurance against systematic failure and problems in the financial markets,” investor Marc Faber  told Bloomberg.
Europe’s sovereign-debt crisis has picked up steam  as Greece suspends talks with its lenders and pressure builds on Italy to implement austerity measures. In Italy and Spain, trade unions are on the move  against the latest austerity measures.
Finland has demanded collateral  in Greece’s bailout while Germany is due in court later this week where the legality of its euro-bailout contributions will be tested.
Midas Resources and Alex Jones have come together to offer you three of the most hard hitting videos ever produced: End Game, Obama Deception, and Fall of the Republic.
After viewing this collection you will know who is pulling the strings of our puppet government. It’s not about Left or Right: it’s about a One World Government. The international banks’ plan to loot the people of the United States and turn them into slaves on a Global Plantation.
If you want to know the facts and cut through all the hype, this eye-opening film collection is for you. For a limited time this collection is being offered with three constitutional silver dollars, the real money our for-fathers intended for us to use. Order this special collection today and get the perfect solution to the perfect economic storm.
Only one dvd special offer per person is available due to limited quantities.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/gold-surges-on-weak-economy-data-and-eurozone-debt-crisis.html
URLs in this post:
 third round of money printing: http://www.dailytimes.com.pk/default.asp?page=2011\09\06\story_6-9-2011_pg5_25
 James Steel: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/09/05/bloomberg1376-LR0U4J0D9L3501-7VK820L4DP7EE8CQ6ADB7NUKIB.DTL
 third round of so-called quantitative easing: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/09/05/bloomberg1376-LR2ZTU0D9L3501-0DIRR9L47NLLA02TRHB9G2RPO9.DTL
 $1,889.50 an ounce: http://www.kitco.com/reports/KitcoNews20110906JW_am.html
 Ong Yi Ling: http://www.marketwatch.com/story/gold-extends-gains-on-euro-zone-jitters-2011-09-05
 trade unions are on the move: http://english.aljazeera.net/news/europe/2011/09/20119695942399529.html
 demanded collateral: http://www.bloomberg.com/news/2011-09-05/gold-rises-above-1-900-an-ounce-as-growth-debt-concerns-enhance-demand.html
 Image: http://www.midasresources.com/store/store.php?ref=63&promo=specialOffer
 Gold Could See $1,800/oz On Seasonal Strength And Deepening Eurozone And U.S. Debt Crisis: http://www.prisonplanet.com/gold-could-see-1800oz-on-seasonal-strength-and-deepening-eurozone-and-u-s-debt-crisis.html
 Gold Close to Breaking Record as Eurozone Debt Crisis Grows: http://www.prisonplanet.com/gold-close-to-breaking-record-as-eurozone-debt-crisis-grows.html
 Eurozone Debt Crisis Deepens Sending Euro Lower And Gold To New Record At EUR 1,080/oz: http://www.prisonplanet.com/eurozone-debt-crisis-deepens-sending-euro-lower-and-gold-to-new-record-at-eur-1080oz.html
 Gold surges above 980 usd mark briefly on weak dollar, high oil prices: http://www.prisonplanet.com/gold-surges-above-980-usd-mark-briefly-on-weak-dollar-high-oil-prices.html
 Eurozone debt crisis could rip E.U. apart: officials: http://www.prisonplanet.com/eurozone-debt-crisis-could-rip-e-u-apart-officials.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.