Wednesday, September 22, 2010
22 September 2010, 9:13 a.m.
By Allen Sykora
Of Kitco News
(Kitco News)-MF Global looks for the gold market to maintain its upward momentum, with prices perhaps advancing toward $1,350 an ounce over the next few weeks. “Support will come from yesterday’s FOMC statement, miner hedge unwinds, and technical momentum,” MF Global says. “The market is overbought, but has been so for more than a month now with no effect.”
By Allen Sykora of Kitco News; firstname.lastname@example.org
Sunday, August 15, 2010
It has been brought to our attention that "phishing" sites that looks similar to vgmc.com has appeared recently with the intention to capture your shareholder id, password or personal details. Please be informed that www.vgmc2u.com is not related to vgmc.com. Shareholders are reminded not to login through or surf www.vgmc2u.com as it may contain Trojans or viruses that may compromise your hardware security as well. We will be consulting our legal and IT team to contemplate further action that we may take against the operator of the said website while for the mean time shareholders are strongly advised to avoid going to www.vgmc2u.com.
Virgin Gold Admin Department
Sunday, May 23, 2010
Gold price may more than double to $3,000 (£2,080) per ounce over the next five years, claim fund managers, citing record inflows into the yellow metal this week. The inflow resulted after speculations that American, British and other Governments had intentions to inflate their way in a bid to lower excessive debt to some extent.
Notably, spending cuts and higher tax are being imposed by heavily indebted governments throughout the developed world to fill deficits of black-hole dimensions in public finances. Both are expected in Britain's June 22 emergency Budget as well. But another option to reduce the real value of debt, feel economists, is by keeping interest rates lower than inflation and letting the currency take the strain. However, not many politicians are in its favor.
Bringing down the purchasing power of money only robs the people of their savings, but cuts on spending leads to inflation, which tends to hit older people hardest and the young have to battle unemployment.
Graham French, Manager of the M & G Global Basics Fund, said: "In a scenario of rising sovereign risk, where government finances are hugely overstretched and central banks have been systematically devaluing paper money, gold's value as a safe haven and a stable physical currency can only increase over the medium term”.
Against this backdrop, the gold price could go much higher than these already elevated levels. It wouldn't be too farfetched to see it rising above $2,000, or even up to $3,000, Graham asserts.
Source : http://topnews.us/content/220415-gold-prices-may-zoom-3k-5-years
Thursday, May 20, 2010
Wednesday, March 24, 2010
Published on: March 24, 2010 at 17:20
Gold prices look well supported at $1100 and will hit its record high of $1,227 by mid-year and $1500 by year-end, according to Jeffrey Nichols, precious metals economist and Senior Economic Advisor to Rosland Capital.. However, the market will experience continued volatility with big swings in both direction around an upward trend this year and beyond, he added.
Here are Jeff Nichols takes on the recent gold price activity:
- Gold's strong negative correlation with the dollar, measured against either the Euro or a basket of currencies, is breaking down. - This is positive forward-looking indicator of gold's coming strength. Historically, gold's biggest advances have occurred at times when gold was moving up against not just the dollar but the other major currencies as well - and it looks like we are entering just such a period.
-Gold prices have fallen in recent times as investors shed long positions or went short in December and January who will return to the long side of the market.
-India is buying more gold these days, as purchases are up ahead of marriage season which could provide additional support.
-Turning westward, gold's recent rally to record highs in euro and sterling is a sign of the metal's broadening appeal to European investors in the face of European sovereign debt fears. Some investors selling the euro have chosen gold - in addition to or in place of - the greenback as an alternative.
-After the sovereign debt crisis in Europe, USA may be next in line-historically high government deficits and accumulated debt-present in the United States.
-Indeed, the single-most important factor promising higher U.S. dollar-denominated gold prices are inflationary U.S. monetary and fiscal policies characterized by:
unprecedented provision of liquidity into the financial system,
unprecedented low interest rates for an extended period,
unprecedented Federal budget deficits and accumulated debt in absolute terms and as a percentage of GDP, and
a dysfunctional government that remains incapable of dealing effectively with these immense issues.
-China will continue to be a bullish factor in gold market despite recent monetary tightening.
Wednesday, March 17, 2010
What is the SWIFT Code?
The SWIFT address is an 8 or 11 alphanumeric characters long international standard uniquely identifying your financial institution. The SWIFT address is also known as BIC (=Bank Identifier Code). Usually swift code used to transfer money from bank to bank (internationally). Please contact your bank for details.
The followings are working SWIFT code for some popular banks in Indonesia as of 3 Nov 2007. Provided by http://www.swift.com/
ABN AMRO Bank: ABNAIDJA
Bank Artha Graha: ARTGIDJA
Bank Bumiputera Indonesia: BUMIIDJA
Bank Mandiri (not Bank Syariah Mandiri): BEIIIDJA
Bank Niaga: BNIAIDJA
Bank Negara Indonesia (BNI): BNINIDJA
Bank Rakyat Indonesia (BRI): BRINIDJA
Bank Bukopin: BBUKIDJA
Bank Central Asia (BCA): CENAIDJA
Deutsche Bank AG: DEUTIDJA
Bank Mizuho Indonesia: MHCCIDJA
Hongkong and Shanghai Banking (HSBC): HSBCIDJA
Bank Internasional Indonesia (BII): IBBKIDJA
Bank Indonesia: INDOIDJA
Bank NISP: NISPIDJA
Bank Rabobank International Indonesia: RABOIDJA
Bank Tabungan Negara (BTN): BTANIDJA
Bank UOB Indonesia: UOBBIDJA
Bank Maybank Indocorp: MBBEIDJA
Bank Chinatrust Indonesia: CTCBIDJA
Bank Sumitomo Mitsui Indonesia: SUNIIDJA
Bank OCBC Indonesia: OCBCIDJA
Bank DBS Indonesia: DBSBIDJA
Bank Mega: MEGAIDJA
Bank of China, Jakarta Branch: BKCHIDJA
Bank Syariah Mandiri (not Bank Mandiri): BSMDIDJA