The Phaserl


Flight To Safety – Gold Rises As Stocks, European Bonds Again See Sharp Falls

from Gold Core:

Gold retained sharp overnight gains today to trade near its highest in over a month as investors sought safety amid increasing concerns over a slump in the global economy. Gold rose to its highest since September 11 at $1,249.30 yesterday.

This morning gold for Swiss storage or for immediate delivery rose 0.2% to $1,244 an ounce by 12:00 in London, according to Bloomberg generic pricing. Futures trading volume was 64% above the average for the past 100 days for this time of day.

Global stocks plummeted yesterday and again today, on investor concern that U.S. and Chinese inflation data are signalling a global slowdown in economic activity. U.S. retail sales fell in September and producer prices declined for the first time in a year.

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1 comment to Flight To Safety – Gold Rises As Stocks, European Bonds Again See Sharp Falls

  • Roger

    China,the world #1 Economy, buys most of the Gold along with India; Yanks are dumb, zombies caught up in many lies. But who cares anymore?. The evil US Banksters can short gold illegally cuz there is no rule of law in the USA. So what? This just gives China et al more cheap money (Gold).
    China buys Gold cuz it will back their Yuan. The US dollar is backed by mafia style manipulations, threats and blackmail.

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