Gold price hits new record high

FOREX GOLD INDEX(PM FIX) $/OZContinue reading the main story

The price of gold hit a record high on Tuesday, with analysts giving a number of reasons for its rise.

Both the price of the actual metal and the price for buying it at a future date rose more than 2% to $1,274.75 an ounce.

It was the biggest one-day gain for the commodity in four months.

One of the factors spurring investors is gold's traditional role as a so-called "safe-haven" investment at times of economic uncertainty.

On the physical market, demand for both bullion and jewellery has risen ahead of the seasonal Indian wedding period and the Hindu religious festivals that begin in September

BBC News - 14 September 2010

Kelantan Gold Dinar Launch - Aug 2010

Hajj Umar Ibrahim Speech -

Umar Ibrahim Vadillo - Interview - Gold Dinar

IslamicEconomy | April 09, 2010 - Umar Ibrahim vadillo is one of the most outstanding and well-known proponents of the Gold Dinar Movement within the muslim world. He is the author of the ground breaking book "Return of the Gold Dinar" and has been involved in numerous initiatives across the globe to revive the gold dinar. In this interview, he higlights the importance of giving zakat in gold and why gold currency is mandatory requirement of shariah.

Islamic gold dinar gains ground

 Sat Sept 4, 2010 - KUALA LUMPUR: Malaysians are embracing gold dinars which were introduced last month by Kelantan to promote usage of Islamic currency as an alternative to paper money, an official said today. 

The gold coins and silver dirhams were introduced in early August by PAS to coincide with the start of the Muslim holy fasting month of Ramadan.

Umar Ibrahim Vadillo, chief executive officer with Kelantan Golden Trade, said the first batch of gold and silver coins worth RM2 million had been sold out in less than a month.

"There is enormous response in Malaysia. Their reaction is unbelievable," he told reporters.

FreeMalaysiaToday :

Global Uncertainty Drives Demand For Gold

VOAvideo | August 30, 2010 reports Demand for gold is expected to rise as a weak US dollar and persistent fears of a double dip recession weigh on investors. Despite falling slightly from historic highs earlier this year, the precious metal remains a safe and attractive investment. Analysts expect the price to stay strong for the rest of the year, thanks in part to accelerating demand from India and China. Mil Arcega reports.

KELANTAN LAUNCHES DINAR & DIRHAM ON 12TH AUGUST 2010

Kelantan Gold Dinar Trade:

This is the first time in the last 100 years, since the fall of the Ottoman Caliphate, when a Muslim government introduces Shariah Currency.  Indeed there has been four generations of Muslims who have not seen Gold Dinar and Silver Dirham; four generations of Muslims who have been divided into little national reservations and sentenced to permanent robbery first by local, then by international Masters of Riba; four generations of Muslims who haven’t known what is their Deen.  The introduction of Gold Dinar and Silver Dirham in the state of Kelantan is not a new idea or experiment, it is the return to the medium of exchange that has been known for 1400 years throughout Dar al-Islam as Money of Shariah taking its legislation from Allah’s Revelation and Rasul’s Sunnah.

Link - Launch of the world Islamic Currency : Shaykh Dr Abdalqadir Assufi

Gerald Celente: Go for the gold!

RTAmerica | June 30, 2010 - As the economy continues to struggle, the dollar has become more of an issue with its unstable behavior. Gerald Celente says that the dollar is an unreliable international currency and should be replaced by a more stable system. He also adds that the only stable market is gold, as the economy worsens gold's value will continue to increase.

Gold new high in America!

June 18, 2010 — Ted Anderson drops by to talk with Alex about why gold is taking off the way it is and how far it may go. Now is the time to buy gold while you can before it goes to the next level.

Gold Advances to a Record in New York, London on Haven Demand.

By Nicholas Larkin

June 8, 2010 (Bloomberg) -- Gold rose to a record in New York and London as investors sought an alternative to currencies amid mounting concern over Europe’s debt crisis.

Bullion also hit highs in euros, sterling and Swiss francs after the region’s common currency yesterday slipped to its lowest level in more than four years against the dollar amid speculation that debt-cutting measures by European nations will slow growth. European equities fell and Fitch Ratings said the U.K. must deepen budget cuts to protect its top credit rating.

“It shows low confidence in the euro zone,” said Bernard Sin, head of currency and metals trading at bullion refiner MKS Finance SA in Geneva. “There’s no confidence in euros, dollars and no confidence in other currencies. The only solution is to be on the safer side, which is gold.”

Chinese dumping worthless currency for gold.

liarpoliticians — May 17, 2010 — The Chinese population and government are dumping the worthless paper currencies of the world, which their governments just magic from nowhere, and dumping guilts, and are instead investing in gold. No matter what the price of gold is, one thing is certain, you can't print more of it like Western governments have done to their paper currencies.

Peter Schiff Buy Gold it could go to $10 000/oz

PeterSchiffChannel — May 13, 2010 — Peter Schiff Buy Gold it could go to $10 000/oz CNBC:

GOLD BREAKOUT!!! Gold seeking divorce from fiat currency.

Be the First to see Meltup - MELTUP

Gold strikes new record high on Europe debt woes

Wed, May 12, 2010 at 11:43 | Source : Reuters

Gold struck another record high above USD 1,230 an ounce on Wednesday on safe haven buying as investors bet the euro zone debt crisis could spread beyond Greece.

Jewellers cashed in on the rally and dealers noted a pick up sales of scrap in Asia, which could curb further gains. But any correction could be limited as a USD 1-trillion European rescue package had done little to ease fears of euro zone debt contagion.

Gold Trading At Record High For Numerous Reasons

Chuck's Commodities Blog | Tuesday May 11, 2010

Gold prices would normally retreat after the financial markets stabilize from a recent financial crisis, but not this time. Gold prices plowed ahead to close at a record high and the market continues to move higher in after hours trading. June gold futures are trading at $1,233 an ounce as I am writing.

The U.S. stock market returned to business as usual this week after a major bailout in Europe. This stock market loves it when problems are set aside to worry about in the future. The gold market is really loving this situation as gold investors know the problem down the road is just going to get bigger and that spells higher prices for gold.

"Paper trading" causes Global food bubble!

REASON FOR FOOD HIKE : DRIVEN BY FINANCIAL SPECULATION IN THE COMMODITY FUTURES. not supply & demand factors. Basically to compensate losses due to sub-prime market.

From wage slave to Debt Slave...

'worthless' dollar & Gold 'the Savior'

February 05, 2010  |  Marc Faber, author of Gloom Boom and Doom Report says many Western governments would eventually follow the US 'inevitable' default suit. Outspoken investor and writer Marc Faber doesnt give America much time before it goes bust.

Gold Stocks versus Gold Bullion

Steve Saville  |  email: sas888_hk@yahoo.com  |  Feb 2, 2010

Below is an excerpt from a commentary originally posted at www.speculative-investor.com on 31st January, 2010.

It is widely believed that gold stocks offer leveraged exposure to changes in the gold price, but this belief is false. At least, the historical record suggests that it is false on a long-term basis. As evidence we include, below, a chart of the BGMI/gold ratio covering the past 50 years (BGMI is short for Barrons Gold Mining Index).

The Dollar Bubble.

The Dollar Bubble starring Peter Schiff, Ron Paul, Marc Faber, Gerald Celente, Jim Rogers, and others. Prepare now for the U.S. dollar collapse.

Gold is money in extreme times, have they arrived?

It was Alan Greenspan who said that, “gold is money in extremis”. By this all understood that when times got tough, gold became money that people could trust. But what constitutes “in extremis”?
 

History, with hindsight, usually finds it easy to answer such a question. Event with hindsight such a precise tool, it is of no use to investors who don’t have the privilege of using it. For instance it is clear that a year before the last war, no, almost 5 years before the last World War, it was clear that the world was on the path to the war. One year before the war started the Prime Minister of Britain came back from Germany with the cry, “Peace in our time” heralding his belief that there would be no war. On the ground, opinions were divided right up until Germany marched into Poland.