Wednesday, July 24, 2013
Gold love for the Aussie dollar
Article link
The Australian dollar has hit a one-week high, getting a boost from the rising gold price and a good performance on Asian share markets.
In late local trade, the dollar was buying 92.59 US cents, up from 92.22 cents on Monday. During the local session it peaked at 92.86 US cents, its highest level since July 17.
The Shanghai and Hong Kong share markets rose around two per cent and the gold price has stayed above $US1300 per fine ounce for the entire local session for the first time in over a month.
The spot price of gold in Sydney finished at $US1331.05 on Tuesday, up from $US1317.70 on Monday.
CMC Markets sales trader Betty Lam said the gold price surge has helped the Australian dollar by putting downard pressure on the US dollar.
‘‘The Aussie dollar is also the happy recipient of the recent gold love-fest,’’ she said. ‘‘We see the local currency building on its recent advances for the third consecutive day.’’
Read more: http://www.smh.com.au/business/markets/currencies/gold-love-for-the-dollar-20130723-2qfdg.html#ixzz2ZwfCbSdk
Are You Worth Your Weight In Gold?
From Alarabiya
Article link
Shedding weight in Dubai is being rewarded in gold under a new initiative by the municipality of the Gulf emirate aimed at fighting obesity, local newspapers reported on Wednesday.
“Your Weight in Gold” is the title of a campaign promising one gram of gold for every kilo shed, provided a minimum of two kilos (4.6 pounds) of weight are lost by August 16.
The campaign coincides with the Muslim fasting month of Ramadan, which ends before mid-August.
During Ramadan, the faithful refrain from eating, drinking and smoking between dawn and sunset.
But many tend to tuck in heartily after dark, despite warnings that overindulgence can be bad for the health.
The three campaign-winning losers will each receive a gold coin worth 20,000 dirhams ($5,449) through a lucky draw. Other weight losers will share gold coins worth 200,000 dirhams.
Participants will be required to use scales installed in public parks, will receive guidance from dietitians and will have to pledge not to use unhealthy methods to lose the weight.
Many Gulf countries are struggling to reduce the level of obesity among their populations.
Keiser Report - Destabilization, Algobots, Counterfeiting
From RussiaToday
Published on Jul 23, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the global counterfeiting schemes that Interpol failed to stop this past week: spoof trading high frequency algobots, brokers trafficking in bogus derivatives backed by delusional collateral, rob signing mortgage forgeries and fake Libor rate setting bankers. They also look at the interest rate swaps that sank Detroit, Harvard, Jefferson County, Alabama and Greece.
In the second half, Max talks to Sandeep Jaitly of FeketeResearch.com about gold backwardation, Flaming Jamie, a run on the gold markets and the fact that fiat can't fail in fiat terms but it can in gold. Max also says that if Snowden can press one button and take down the US, then people should ask for delivery of physical gold.
Published on Jul 23, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the global counterfeiting schemes that Interpol failed to stop this past week: spoof trading high frequency algobots, brokers trafficking in bogus derivatives backed by delusional collateral, rob signing mortgage forgeries and fake Libor rate setting bankers. They also look at the interest rate swaps that sank Detroit, Harvard, Jefferson County, Alabama and Greece.
In the second half, Max talks to Sandeep Jaitly of FeketeResearch.com about gold backwardation, Flaming Jamie, a run on the gold markets and the fact that fiat can't fail in fiat terms but it can in gold. Max also says that if Snowden can press one button and take down the US, then people should ask for delivery of physical gold.
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