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Asian Central Banks Adding to Their Gold Reserves

Commodities / Gold & Silver 2009 Jun 12, 2009 - 09:12 AM GMT

By: Mark_OByrne

Commodities

Gold: Gold's short term movements are still intrinsically linked to whatever the dollar is doing at the moment. Gold is currently trading at $949.50 and $950 seems to be where the market is settling for the time being. In the medium to long term, gold will still be sought after by investors wishing to hedge against very real inflationary worries. The US bond market is under huge pressure with increasing yields. A huge sell off would spark a fall in the dollar and a rise in long term interest rates.


Another very important piece of news regarding the positive long term future of gold was reported in Reuters today. Marcus Grubb, the World Gold Council's head of investment, research and marketing, told delegates at a meeting in London that central banks may be justified in increasing their gold holdings to 40-50 percent of their reserves. He further stated that the current macroeconomic environment supported gold buying: 'It is not only about the dollar, not only about diversification, but also about future inflation,' he said.

There were signs that a number of Asian central banks were adding to their gold reserves, he added.

Silver: Where is silver going? Will it test support at $14.75 or will it break from its current lethargy and test $15.63

Platinum: Platinum is trading at $1,255 this morning with support at $1,220 and resistance at $1,300. With the recent positive inflows into platinum ETF Securities this week, the platinum price could be further buoyed by the SEC decision later today or whether it will allow a platinum ETF in the US.

Rhodium: Rhodium is trading in a similar range to yesterday at $1,425/ $1,525

Bullion Services Team

Gold Investments
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Gold and Silver Investments Limited
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EC3V 3ND
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Email info@www.goldassets.co.uk
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Gold and Silver Investments Ltd. have been awarded the MoneyMate and Investor Magazine Financial Analyst of 2006.

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Gold and Silver Investments Limited hope to inform our clientele of important financial and economic developments and thus help our clientele and prospective clientele understand our rapidly changing global economy and the implications for their livelihoods and wealth.
We focus on the medium and long term global macroeconomic trends and how they pertain to the precious metal markets and our clienteles savings, investments and livelihoods. We emphasise prudence, safety and security as they are of paramount importance in the preservation of wealth.

Financial Regulation: Gold & Silver Investments Limited trading as Gold Investments is regulated by the Financial Regulator as a multi-agency intermediary. Our Financial Regulator Reference Number is 39656. Gold Investments is registered in the Companies Registration Office under Company number 377252 . Registered for VAT under number 6397252A . Codes of Conduct are imposed by the Financial Regulator and can be accessed at www.financialregulator.ie or from the Financial Regulator at PO Box 9138, College Green, Dublin 2, Ireland. Property, Commodities and Precious Metals are not regulated by the Financial Regulator

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. Past experience is not necessarily a guide to future performance.

All the opinions expressed herein are solely those of Gold & Silver Investments Limited and not those of the Perth Mint. They do not reflect the views of the Perth Mint and the Perth Mint accepts no legal liability or responsibility for any claims made or opinions expressed herein.

Mark O'Byrne Archive

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