-- Posted Thursday, 5 July 2012 | | Disqus
Today’s AM fix was USD 1616.75, EUR 1292.99 and GBP 1037.58 per ounce.
Yesterday’s AM fix was USD 1617.00, EUR 1285.37 and GBP 1032.90 per ounce.
Currently, gold is trading at $1618/oz. US markets were closed on Wednesday, the 4th of July. Gold in Asian and European markets today is up slightly from Wednesday’s close in New York, but it has been trading erratically but slightly upwards in wait of the ECB’s likely decision to cut interest rates to a record low of 25 basis points.
Silver is up 0.51% to $28.32/oz.
WGC – Gold as a Strategic Asset for European Investors
During the current period of serious uncertainty in the Eurozone, the World Gold Council considers the case for gold as a long-term or strategic asset allocation for European investors. WGC claims that the consensus is that in the long-term gold is a store of value and a useful hedge against inflation.
Nevertheless, long-term strategic investors have traditionally not been investing in gold. WGC examines evidence from several cases and finds that gold appears to add significant diversifying power to asset portfolios because it tends to be negatively correlated with most other asset classes. WGC advises that the exact allocation depends on the needs of the particular investor, and the environment.
The full report is available on the World Gold Council website.
WGC – Gold as a Strategic Asset for UK Investors
WGC takes a holistic approach in this report, examining the role of gold as a strategic asset for UK investors. Using conservative estimates, it finds that strategic diversification into gold is statistically significant especially for low to medium-risk investors. An added benefit is that gold comes without the added complication of complex structures and with the added benefit of centuries’ worth of history.
The chart below shows that in the long run, gold competes on the basis of its diversification qualities, rather than returns. Gold is a hard asset that carries no risk of default.
The full report is available on the World Gold Council website.
Source: World Gold Council
For breaking news and commentary on financial markets and gold, follow us on Twitter.
NEWS
PRECIOUS-Gold in narrow $6 range, ECB rate cut eyed – Reuters
Gold Climbs as ECB Rate Reduction May Help Fan Inflation – Bloomberg
Gold inches up on ECB rate cut hopes – Reuters
COMMENTARY
The Fed And LIBOR - The Biggest Manipulator Of Them All – Zero Hedge
Keiser Report: Big guy ‘scandals’ vs small fry ‘crimes’ – Max Keiser
“This Libor-manipulation story grows crazier with each passing minute.” – Rolling Stone
Draghi-King Push May Mean Bigger Step Into Zero-Rate Era – Bloomberg
GoldCore Limited
Ireland:
14 Fitzwilliam Square
Dublin
United Kingdom:
No. 1 Cornhill
EC3V 3ND UK
IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160
Twitter, Facebook, YouTube, LinkedIn:
Linkedin - www.linkedin.com/pub/mark-o-byrne
Twitter - www.twitter.com/goldcore
Facebook - www.facebook.com/GoldCore
Youtube - www.youtube.com/GoldCoreLimited
-- Posted Thursday, 5 July 2012 | Digg This Article
| Source: GoldSeek.com
