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• Gold smuggling soars in India
• Chinese New Year and currencies put damper on London gold trade
• U.S. dollar collapse: Where is Germany's Gold?
• Gold slips as rangebound trade deters investors
• Putin banking on gold
• Copper hurt by a stronger dollar but China outlook supports
• Gold Chart: Cyclically An Important Week In Gold
• Rick Rule: A Promising Future In Precious Metals Mining Markets - But Choose Wisely
• Jim Willie on Currency Wars, the Rejection of the US Dollar, & the Coming Chinese Gold Trade Note
• India Gold trade body demands reduction in import duty hike
• Amazon's Growing Pains: Peter Lynch Would Say It's Time To Sell This Fast Grower
• $200 Silver
• Investors bankers, welcome India’s new gold regulations
• John Williams: How to Survive the Illusion of Recovery
• Look at this Graph of Gold vs. the Swiss Franc
• Gold Drifting towards Bottom of its Range
• Russia adds 570 tons of Gold in ten years to 2012
• THE REST OF THE STORY
• Gold falls on technical selling pressure
• Venezuela again devalues bolivar against dollar
• Gold prices hampered by dollar rally
• Weapons, Medicine, & Electronics: 3 Fields With Massive, Inelastic Demand for Silver
• Recent optimism "making gold's safe haven properties redundant"
• Coin Show Ghost Town: Precious Metals & Worldwide Currency Free Fall Update
• Ron Paul: “6,000 years of history, gold is always money, paper money fails”
• Jim Willie on currency wars and the rejection of the US dollar
• End… of Ponzi
• Silver price now at eight month rising support level as China takes a new-year holiday
• Silver Smashed Back Under $31, Gold Under $1650 on COMEX Open
• Gold price breaks below rising support
• The Republican Party And The Future Of The Country
• Gold stays investor friendly in Japan for the 4th decade
• Saudi Gold sector fails to woo investors
• Gold & Silver COT Report 2/8/13: Commercial Increase Net Short Position in Silver to 260 Million Ounces!
• It's 4 years since China released official Gold reserves data
• Gold edges up in Asia despite a strong dollar

Gold smuggling soars in India Posted: 11 Feb 2013 01:58 PM PST Gold smuggling incidents in the current fiscal year have zoomed over nine times as compared to the same period last year, with 250 tonnes coming in illegally.

Chinese New Year and currencies put damper on London gold trade Posted: 11 Feb 2013 12:07 PM PST Recent optimism "making gold's safe haven properties redundant" as market "driven by currency moves."

U.S. dollar collapse: Where is Germany's Gold? Posted: 11 Feb 2013 12:00 PM PST By 2020, Germany wants 50% of its total gold reserves back in Frankfurt - including 300 tons from the Federal Reserve.

Gold slips as rangebound trade deters investors Posted: 11 Feb 2013 11:59 AM PST The gold price edged lower on Monday as the dollar held near a one-month high against a basket of currencies.

Putin banking on gold Posted: 11 Feb 2013 11:52 AM PST President Putin's Russia has been perhaps the biggest accumulator of gold into its reserves of all over the past decade as it continues to rise up the table of global gold producers too.

Copper hurt by a stronger dollar but China outlook supports Posted: 11 Feb 2013 11:18 AM PST Copper slipped on Monday hurt by a stronger dollar, though falls were kept in check by improved growth prospects in the U.S. and China.

Gold Chart: Cyclically An Important Week In Gold Posted: 11 Feb 2013 11:17 AM PST By Kevin Wilbur: This week is the one-year anniversary of the last significant short-term lift in gold prices in 2012 before the start of gold's 3 month meltdown into its May lows. During this period last year, gold lost 15% of its value as measured in the [[GLD]] ETF. Prices fell from the late February high of just over $174 to the May low around $148.45. It then took from May 2012 until October 2012 to recover back these gains. And since touching $174 price level again in October 2012 in GLD, gold has been in an orderly price oscillation down to what is now close to the $159 level on GLD. Some bears are calling for gold to trade even lower, into the GLD $155 price area before staging a significant price turnaround. These gold bears are apparently looking at, among other things, last spring's price weakness, Complete Story »

Rick Rule: A Promising Future In Precious Metals Mining Markets - But Choose Wisely Posted: 11 Feb 2013 10:50 AM PST By Patrick MontesDeOca: Many analysts and industry executives now believe that there are ample fundamental and technical reasons to support that we are on the verge of a major move up in the mining sector, especially in the gold and silver markets. Interest Rates, Bear Markets and Opportunity In a recent interview I conducted with Rick Rule (1/31/2013), founder and chairman of Sprott Global Resource Investments Ltd., Mr. Rule laid out his views on the current financial situation and how it influences the gold and silver markets. Involved in the security markets since 1974, Rule is a specialist in the mining and precious metals markets. Mr. Rule believes that current interest rates are too low. "I don't believe the yields offered in debt markets, including government debt, are anywhere near sufficient to accommodate for the risk, particularly when you are looking at absolutely negative real yields." He believes that rates have to Complete Story »

Jim Willie on Currency Wars, the Rejection of the US Dollar, & the Coming Chinese Gold Trade Note Posted: 11 Feb 2013 10:39 AM PST In this MUST LISTEN interview, GoldMoney's Alasdair Macleod talks to Jim Willie of GoldenJackass.com, publisher of the "Hat Trick Letter". They discuss his recent article on the currency wars and the rise in non-US-dollar-based trading as well as China's increasing use of yuan swaps in bilateral trade. Sanctions on Iran have led to an increase [...] Check out these similar articles: Jim Willie: Fever Pitched Currency War & USDollar Rejection in 2013 Jim Willie: The Rush for Physical Gold is On China, Chile To Establish Strategic Partnership, Boost Trade, Launch Currency Swap and Settle In Renminbi

India Gold trade body demands reduction in import duty hike Posted: 11 Feb 2013 10:23 AM PST The organization suggested that tax collection at source be applicable to purchase of coins and bullion in cash and not on jewellery purchases.

Amazon's Growing Pains: Peter Lynch Would Say It's Time To Sell This Fast Grower Posted: 11 Feb 2013 10:18 AM PST ByTimothy Phillips: Peter Lynch loved fast growth stocks as they offer the best opportunity for "10-baggers." Mr. Lynch knew that there came a time when you should get off the express though, especially when the story is changing. That time is now for Amazon. In Peter Lynch's "One Up On Wall Street," he details when it is time to sell a fast-grower and Amazon fits the description to a tee. Amazon's (AMZN) fourth-quarter conference call made it clear that its precipitously decelerating revenue growth trend was not only a 2012 issue, but will continue to provide growing pains in 2013. The problem lies in its core e-commerce business (1P & 3P), which is 96% of total revenue. Amazon's e-commerce growth is not only declining on a percentage basis, it is also declining on an incremental revenue dollar basis - a very foreboding signal. With e-commerce guidance for Q1 set to Complete Story »

$200 Silver Posted: 11 Feb 2013 10:07 AM PST Eric Sprott – Expect $200 Silver As Financial System Implodes

Investors bankers, welcome India’s new gold regulations Posted: 11 Feb 2013 09:53 AM PST Banks are now allowed to buy and sell gold coins in India, which is set to improve liquidity and push sales of 24 carat gold coins.

John Williams: How to Survive the Illusion of Recovery Posted: 11 Feb 2013 09:00 AM PST There is no economic recovery, and there are no signs that a recovery is coming, says Shadowstats.com author John Williams. In this Gold Report interview, Williams blames mal-adjusted inflation statistics for creating an alternate reality that overestimates economic activity in a way that is unsustainable. Williams warns that eventually the painful truth will be so [...] Check out these similar articles: John Williams: New Recession in 2013, Open Ended QE Will Lead to Hyperinflation The Illusion Of Economic Recovery Is Beginning To Fade John Williams: Hyperinflation Ahead, US Budget Defecit $5 Trillion/Year

Look at this Graph of Gold vs. the Swiss Franc Posted: 11 Feb 2013 09:00 AM PST Tweet READ THE FULL NEWSLETTER LOOK AT THIS SIMPLE GRAPH.  It shows you the performance, since 1972, of the Swiss Franc (the best currency in the world), and gold. The graph starts at the lower left at zero.  Today, the number is approximately 13.  THAT MEANS GOLD, OVER THE LAST 40 YEARS HAS INCREASED 1300%!  That's almost four doubles.  That requires one double every 10 years.  That requires a compounded average of 7.2% per year, for 40 years.   And that includes a 20-year period of no growth. NOW LOOK AT THE SECOND GRAPH.  It is the increase of the money supply by the Federal Reserve.  That is inflation.  They are destroying the dollar right before your eyes and you don't recognize it. LOOK AT THE TREND (UP) SINCE 2008.  A disaster!  And Bernanke says the fed will keep interest rates at zero for the next three years.  Yes, hyperinflation will be here in two years. In the following article, by Dan Norcini, a startling fact emerges.  The Fed purchased MORE bonds, since the first of the year, than the Treasury sold!  I don't know how that's possible, but it's not good.  Are we really monetizing ALL of our debt?  Still any dollar bulls our there?  Yes, Wall Street is full of them. According to the Miami Herald, real estate prices in the Miami area are rapidly moving up.  Especially for high demand locations and upper crust units.  Most of the money is coming from Latin America.  Venezuela and Argentina are dealing with currency issues and currency controls.  The wealthy want out.  Currency controls and rising taxes in socialist countries (in France too) are causing an exodus amongst the well to do.  The same could be said for many of the wealthy in the Socialist capital of the US, the state of California.  The current administration has no problem with taxing the "rich" and they ARE implementing currency controls.  It's happening all over. The problem (one of them) as I see it is that if you take more money from the "rich," then they have less left to spend, which is felt in the economy.  This does not encourage job creation.  If you re-distribute the wealth, directing it to the largest voting block, those who have the greatest need, the money is not spent on job creation or wealth creation.  In fact, a high percentage of the people receiving it don't even pay taxes.  My friend Jim says, "It's like throwing it down a rat hole."  He is not insensitive, he is being realistic. We need new jobs, new high paying jobs; not more welfare.  But what do I know?  I'm only a gold dealer. Similar Posts: A Game Changer for Those Who Own Gold and Silver Retirement Threats An Explanation to a Friend of Why He Needs Gold Instead of Dollars

Gold Drifting towards Bottom of its Range Posted: 11 Feb 2013 08:56 AM PST The Asian holiday period has closed down some of the big physical market buys that we normally see from that quarter of the globe. The result has been a lack of physical offtake which typically helps offset speculative selling over in the New York trading hours. That has allowed bears to take gold lower after it failed to pushed past overhead resistance last week near the $1685- $1690 level. Gold is now retreating towards the bottom of its 6 week+ trading range near $1640 and below. Bears will try to break through this support level as there are significant sell stops lurking down there that have them salivating. I would expect some Central Bank buying to emerge however should prices reach these levels. It was interesting to note a recent article detailing the extent of Russia's gold buys. Gold is certainly moving from the West to the East. From a technical analysis standpoint, the market needs to hold support between $1640-$1630. Failure to do so will target the next level of chart support between $1620 - $1615. Below that is round number psychological support at $1600. Bulls might be able to prevent a sharp move lower but so far they have lacked the resolve to take it up through overhead chart resistance. To get any hope of having some sort of leg higher in gold, price must clear $1700. Silver has once again failed at $32.50. This last attempt to test that tough resistance level never made it past the $32 level for any length of time. It is now probing lower for support. If it fails to hold near $30.85, it will move back towards $30.25 - $30.10. Weakness in the HUI is again undercutting the precious metals. Today is a bit of a strange trading session day. The Euro is the only major currency trading higher. The other majors are moving lower. Equities are at the moment, comatose, while bonds are also lethargic. Crude oil is strongly higher pushing up towards initial overhead resistance near $97 - $97.15. Platinum is weaker but palladium is up. Copper is also weaker along with lumber. I normally would say this looks like a bit of a risk aversion day but the Euro being higher does not fit that general theme. Let's see how the dust settles when all this is done today before making any assumptions based on a single day's worth of price action.

Russia adds 570 tons of Gold in ten years to 2012 Posted: 11 Feb 2013 08:53 AM PST However, even after the record buying, Russia remained only the eighth ranked gold holder with 958 tons, according to World Gold Council.

THE REST OF THE STORY Posted: 11 Feb 2013 08:26 AM PST I see a lot of people lately agonizing over what we should have done. By that I mean it's obvious to all by now that the correct move was to buy stocks back in November instead of precious metals and miners. I mean seriously, it's obvious that liquidity was going to flow into every asset class except precious metals. Well it's obvious now in hindsight anyway. Of course everyone has conveniently forgotten how tough it was coming out of that November low. There were ongoing concerns about the approaching fiscal cliff, not to mention a significant sell off as we approached the end of the year. Once the fiscal cliff was resolved the markets rallied violently. Of course no one was positioned ahead of the rally because there was the risk that politicians wouldn't make a deal. So the upshot was almost everyone missed the first day, and virtually no one was expecting a second day of huge gains. So by that time the market was overbought and right up against resistance at the September highs. It's pretty tough to buy into an overbought market that is butting up against a major resistance level, so I don't think anyone could be faulted for abstaining at that point. Once the market broke through 1475 it only took five days for it to reach the next resistance level at 1500. So if you didn't buy immediately you missed that move also. At that point we moved into the timing band for a half cycle low. Again, probably a dangerous time to be initiating long positions. Unfortunately the market didn't give us a half cycle low and continued higher, with two strong down days thrown in to keep traders off-balance. It's easy in hindsight to rationalize the correct trade, but as I have just shown, tough to do in real time. Next I'm going to show you a market progression. Imagine you are experiencing this in real time. In August of 1990 the stock market stagnated, formed a double top, and proceeded to plunge sharply below the 200 day moving average. At this point, as we've heard many times, chartists were screaming that the market was clearly headed down. Imagine your emotions on that Thursday in August. Realistically, how many people would have been able to pull the trigger and buy at that point? The answer is, not many. But buying on that Thursday, even though one's emotions were screaming sell, was the correct move. Or was it? Well after two weeks the market certainly appears to be building a base for another leg higher. At this point, although almost certainly nervous, one could probably rationalize adding to positions. So let's see how that worked out. Holy crap! That was a mistake. A huge freaking mistake. Sell, sell, sell! Whew, that was a close call. Son of a b***** no sooner did the market break down then we get a strong reversal candle followed by another reversal candle five days later. I have to say, it looks like we finally hit a bottom. Buy everything back. You've got to be kidding me! Wrong again. This is obviously a bear market, time to sell short. A couple of days later; Time to add to shorts. A week later; This sure looks like we finally made the right decision, as this is clearly a bear market, and obviously about to begin the next leg down. But did one really make the right decision? Remember this was a secular bull market. As Paul Harvey used to say, now let's look at the rest of the story. As you can see, clearly this was the buy of the decade, although actually doing so and holding through that bottoming process was agonizing to say the least, or more likely virtually impossible. So might I suggest that when the gold bull becomes too frustrating, and you're ready to give up, you come back and review that 1990 bottom. Bull markets never make it easy. Very few traders have the determination, stamina, foresight, and focus to make it all the way through one. But the rewards for the very few that can weather every punch the bull dishes out… are huge.

Gold falls on technical selling pressure Posted: 11 Feb 2013 08:12 AM PST Gold prices are trading sharply lower in the early going Monday, hitting a fresh five-week low, on fresh technical selling pressure. April Comex futures prices dropped back below the key 200-day moving average.

Venezuela again devalues bolivar against dollar Posted: 11 Feb 2013 07:52 AM PST The South American nation started the repatriation of nearly $$11 billion of it's gold reserves held abroad, saying they will be safer than in states with mounting debt worries in Europe and the United States.

Gold prices hampered by dollar rally Posted: 11 Feb 2013 07:45 AM PST The rally in the dollar has created headwinds for gold futures prices, pushing the yellow metal toward support levels. Dollar strength has come on the heels of better than expected U.S. data that has push interest rate differentials in favor of the dollar.

Weapons, Medicine, & Electronics: 3 Fields With Massive, Inelastic Demand for Silver Posted: 11 Feb 2013 07:30 AM PST By SD Contributor AGXIIK: The silver price is inelastic when it comes to the production of mission critical products ranging from war fighting materials that can use many ounces per unit to cell phones. The winds of war are blowing and China is stowing silver by the hundreds of M OZ. Whether the price is [...] Check out these similar articles: Western World Spends More on Dog Food & Manicures Than on Silver! Solar is to Silver What Ethanol is to Corn Gold Investment Demand and India, China Demand Down; Central Bank Demand Doubles

Recent optimism "making gold's safe haven properties redundant" Posted: 11 Feb 2013 07:24 AM PST The relationship between gold and equities has similarly eased...this suggests that gold's safe-haven properties are currently considered more dominant, and as such gold is considerably lagging the move in equities.

Coin Show Ghost Town: Precious Metals & Worldwide Currency Free Fall Update Posted: 11 Feb 2013 07:15 AM PST Our friend Sean from the SGTReport.com has released a local coin show update titled Coin Show Ghost Town.  The next time CNBC attempts to claim that gold or silver are in a bubble, please remember that less than 1% of American's assets are held in gold or silver- while the percentage was nearly 26% at [...] Check out these similar articles: From Motown to Ghost Town August Review: Gold Rises 12% as Equities Fall, Commodities Mixed and German and US Bonds Higher Review of Precious Metals, Equ Cash-strapped Argentine town holds raffle to see who will be paid

Ron Paul: “6,000 years of history, gold is always money, paper money fails” Posted: 11 Feb 2013 07:03 AM PST Dr. Paul said don't blame countries like China and Japan just look at the debt the U.S. is buying. There will always be currency wars. The Bank of Japan claims it has to defend itself against deflation and decades of slow growth.

Jim Willie on currency wars and the rejection of the US dollar Posted: 11 Feb 2013 07:00 AM PST Episode 98: GoldMoney's Alasdair Macleod talks to Jim Willie of GoldenJackass.com, publisher of the "Hat Trick Letter". They discuss his recent article on the currency wars and the ... This posting includes an audio/video/photo media file: Download Now

End… of Ponzi Posted: 11 Feb 2013 06:41 AM PST Tweet I saw an ad on TV last night that said, "Don't worry about Social Security, WE'LL be there when you need us."  Think about this, really?  Basically, they are saying that if the U.S. government goes "insolvent," THEY "will be there for you!" How stupid is this marketing campaign?  Social Security goes bust which theoretically cannot happen as long as the government is "solvent" (whatever that means) yet we still have a banking system or an insurance industry? This is the "mindset" in America and also an illustration of what the derivatives market is made up of.  The derivatives market has been used to "make" things.  Not really "things" because as you know this is just  a paper market with massive leverage so it can't "produce" anything.  But it has produced is the current "reality" by way of setting and making "prices."  Prices of everything from real goods to interest rates and asset values of all sorts.  Derivatives will be looked back upon as the "magicians wand." A little surprise came out over the weekend: Fed Has Bought More U.S. Gov't Debt This Year Than Treasury Has Issued So far this year the Fed has purchased more Treasury securities than the Treasury has issued.  Trader Dan Norcini rhetorically asks, "How is this even possible?"  Well, it shouldn't be but it is.  The Treasury had been hamstrung this year because of the debt ceiling, the issuance of only $47 billion is about half of what the normal monthly run issuance will be over the course of the year.  The Fed purchasing $51 billion is not an anomaly and could have been $100 billion or even much more if it was necessary. As Dan said, "The Fed is the buyer of ONLY resort."  This is mathematically exactly where the whole thing is going.  Foreigners have now basically stopped buying.  Next they will become "sellers" and the Fed will be obliged to buy any all Treasuries that leak back into the market.  I can envision the day where the Fed must buy double, triple or more than  whatever the current issuance becomes as foreigners begin to dump wholesale.  Please keep in mind that currently interest rates are non existent.  If the Treasury is paying 2% on average (just a guess) on all of the debt, what will happen when rates rise 1 percentage point?  Yes I know, interest rates are under lockdown and will not be allowed to rise. In reality, the only "exit strategy" available to the Fed is to continue further and further down the rabbit hole. I think that this "news" that the Fed bought more Treasuries than were issued should be viewed in a different light than the mechanical or mathematical.  If you take a step back and look at this with the logic that a grade schooler would use, only one conclusion can be made.  PONZI!  Think about this, on the face of it foreigners have stopped buying Treasury securities.  Forget "domestic" demand, we have not been able to fund our own borrowing needs internally for many years.  Then foreigners stepped up and started to fund our appetite until… they stopped.  Now, the Fed is openly and publicly the only buyer left. Now, ask the little grade schooler within you, "How do Ponzi schemes operate and what is the 'end' to all of them?" And there you have it… BUYERS!  All Ponzi schemes must have buyers.  Buyers galore!  Not only do they need buyers, as time passes, a Ponzi scheme must continually have more buyers… and then more and then even more.  Once the buyers dry up, the jig is up.  Now we are left with only one buyer, albeit a buyer with unlimited funds available to them.  But (using your little kid logic again) the next step is if the "funds" are unlimited, then how "valuable" can they really be? I think that this little "anomaly" is a sort of embarrassment and one that either slipped through the cracks or one that could not be hidden.  I can't see any conceivable way that the Fed or the Treasury would want  our creditors OR our own public to see something as blatantly bad as this is.  As obviously desperate as the Fed buying ALL (and then some) of the Treasury issuance is, this will surely raise the eyebrows of even the most dim witted and sleepy observers.  So much for highly vaunted "exit plans" that made all the rounds back in 2009 and 2010!  Without the Fed holding up the debt drunk economy and financial system, we would have totally collapsed back in 2007-2008-2009.  The sad thing is that as bad as it would have been, we would now be close to or possibly even moving forward in a real recovery.  Now the collapse will be multiples of what it would have been.  Never was an "exit plan?"  Chalk up another "crazy prediction" by the tin foil hat society that was only a matter of time before mathematically coming true. Similar Posts: The Federal Reserve: The End Is Near

Silver price now at eight month rising support level as China takes a new-year holiday Posted: 11 Feb 2013 06:26 AM PST Whilst both gold and silver have sold-off this morning it is silver that is technically holding up better – which should be some crumbs of comfort for the precious metals bulls. Silver $... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Silver Smashed Back Under $31, Gold Under $1650 on COMEX Open Posted: 11 Feb 2013 06:16 AM PST Gold and silver were sold hard beginning with the 4am London open, and intensifying with this morning's COMEX open. Silver has been smashed back under $31 to $30.79, and gold has been hammered back under Sinclair's $1650 to $1642! Silver's sell-off began with Monday's London open, and intensified with a classic waterfall decline on the [...] Check out these similar articles: Silver Smashed Under $33 Again on COMEX Open Gold & Silver Smashed on COMEX Open/ Greek Re-Election News After Overnight Rally, Gold & Silver Smashed Again on COMEX Open

Gold price breaks below rising support Posted: 11 Feb 2013 06:05 AM PST The last couple of weeks we've keeping a close eye on the rising support line in the gold price that started at the beginning of January. The declining resistance and rising support lead us to say on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

The Republican Party And The Future Of The Country Posted: 11 Feb 2013 05:44 AM PST Star Parker offers her analysis of the Republican Party. My answer to her question regarding the viability of the Republican Party is an emphatic NO! Sadly, my answer likely means a complete collapse of our economic system and maybe our form of government. There is not enough time left to form a third party and the country

Gold stays investor friendly in Japan for the 4th decade Posted: 11 Feb 2013 05:22 AM PST Yen gold has not only roared heavenwards in absolute terms since 2000, but it has utterly crushed both the critical yen currency and the Japanese stock markets.

Saudi Gold sector fails to woo investors Posted: 11 Feb 2013 03:41 AM PST Although, Saudi gold traders are not experiencing losses, but there is a decrease in profits, and if weak sales continue there will be negative long-term impacts, they added.

Gold & Silver COT Report 2/8/13: Commercial Increase Net Short Position in Silver to 260 Million Ounces! Posted: 11 Feb 2013 03:00 AM PST Submitted by SD Contributor Marshall Swing: Gold & Silver COT Report 2/8/13: Commercials added 889 long contracts to their total on the week and increased a sizeable 2,568 shorts to end the week with 47.70% of all open interest, an increase of 0.21% in their share since last week, and now stand as a group [...] Check out these similar articles: Gold COT Report 10/5/12: Commercials Increase Net Short Positions to 27 Million Ounces! Gold COT Report 8/31/12: Commercials Increase Net Shorts a MASSIVE 3.24 Million Ounces! Gold & Silver COT Report 1/18/13: Commercials in Silver Still a Massive 210 Million Oz Net Short!

It's 4 years since China released official Gold reserves data Posted: 11 Feb 2013 02:50 AM PST Many analysts are of the view that China is secretly stockpiling gold to support the yuan as part of it's efforts to make it an international currency.

Gold edges up in Asia despite a strong dollar Posted: 11 Feb 2013 02:24 AM PST Gold for immediate delivery was seen trading at $1667.15 an ounce at 12.00 noon Singapore time while US gold was seen at $1667.94 an ounce on the comex division of nymex.

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