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Updated 14:00 08/05/21

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August Gold News 2017

The Gold price surged 6% in just three weeks to go over the $1,300 an ounce barrier yesterday, as investors looked to the ‘safe haven’ asset as uncertainty around the world grows. Gold was last above the $1,300 mark in November last year.

Why is this happening?  Well, North Korea escalated tensions after firing a ballistic missile over northern Japan for the first time since 2009. People living nearby were told by the government to take cover and South Korea has threatened to ‘exterminate’ North Korean dictator Kim Jong-un if he continues to risk the safety of its population.

The ...

29 Aug 2017, 4:11 p.m.
Daryl Jackson

Should alarm bells be ringing?!

Ten years on from the financial banking crisis there is news of a sub-prime lender in trouble here in the UK.  We’ve highlighted concerns about this before, but the news about Provident Financial should surely send alarm bells ringing.

The company lost two-thirds of its stock market value in one day on Tuesday after the doorstep lender was hit by many blows.  It led to the biggest fall in a FTSE 100 company ever in one day, wiping nearly £1.7bn off its stock market value.  Provident Financial – which specialises in lending to ...

24 Aug 2017, 1:23 p.m.
Daryl Jackson

As we mentioned earlier this month – there are worrying signs that we could be heading for another big financial crash, ten years after Northern Rock had to be bailed out.  In our article on 2nd August, we mentioned the concerns about 0% balance transfer credit cards now exceeding forty months, banks recording profits that haven’t yet been realised and the rise of car finance going through the roof!  You can see the previous article by clicking HERE.

However, it seems we are not the only ones that are growing increasingly concerned that the bubble could be about to ...

22 Aug 2017, 3:51 p.m.
Daryl Jackson

Gold jumped over £1,000 yesterday, the highest since mid-June, as global stocks fell as investors reduced exposure to riskier assets after rate-setters from Europe and the US remained wary on the economic outlook on both sides of the Atlantic.

European Central Bank’s (ECB) minutes from late July, only published yesterday, highlighted concerns that inflation in the 19-nation eurozone remains too low despite what appears to be an improving economy. The ECB also remained cautious about withdrawing the

18 Aug 2017, 10:55 a.m.
Peter Walden

The gold price has risen to its highest level in almost two months as tensions on the Korean peninsula continued to support safe-haven demand. Yesterday, subdued trading globally marked the 10th anniversary of the start of the global financial crisis, after Trump's rhetoric continued to threaten Pyongyang with “fire and fury like the world has never seen” if it continued to make threats against the US, a statement strongly backed by US Defense Secretary James Mattis.

North Korea soon retaliated, making clear its intentions to target Guam waters, a US territory in the Pacific Ocean, with missiles that ...

10 Aug 2017, 10:34 a.m.
Peter Walden

Ten years ago to the day since the start of the financial crisis, former chancellor Alistair Darling, who navigated the UK through the 2008 recession, has warned regulators not to be complacent about the stability of the economy.

On the 9th August 2007, French bank BNP Paribas froze three large hedge funds that specialised in the US sub-prime mortgage market, justified by their inability to calculate the funds values amidst growing concerns over liquidity. This ...

9 Aug 2017, 3:31 p.m.
Peter Walden

There could be worrying times ahead as there are indications that we could be heading for another financial crisis with the personal debt bubble about to burst.

Research by BullionByPost has found concerning similarities between the financial crisis that caused the banking crash ten years ago and what appears to be happening in the consumer credit market. Here’s why:

1. Credit Cards:  Zero percent balance transfers now exceed 40 months!

Virgin Money and MBNA are offering zero percent on balance transfers for more than forty months.  Both banks are lending to many people who are maxed out on credit ...

2 Aug 2017, 9:25 a.m.
Rob Halliday-Stein