JulieB Posted February 2, 2012 Share Posted February 2, 2012 GOLD PRICE MAY ADVANCE IN LONDON AS CONCERN OVER EURO DEBT CRISIS GROW. Link 2 February 2012 By Nicholas Larkin and Glenys Sim – Feb 2, 2012 12:08 PM GMT Gold may advance in London trading as concern about Europe’s debt crisis spurs demand for the metal as a protection of wealth The euro was little changed versus the dollar as Greece struggled to reach an agreement with bondholders on cutting the nation’s debt burden. Demand for physical gold from India has been “significantly above average” so far this year, despite higher import duties, Edel Tully, an analyst at UBS AG, told a conference in London today. “The underlying bid tone in the gold market suggests that another leg higher is only a matter of time,” Tully wrote today in an e-mailed report. The “metal’s ability to hold up better than other assets would be another signal that it is recovering its safe-haven characteristics.” Bullion for immediate delivery rose 0.3 percent to $1,749 an ounce by 11:45 a.m. in London. Prices earlier today reached $1,753.45, the highest since Dec. 8. Gold for April delivery was up 0.1 percent at $1,751.60 on the Comex in New York. Gold at the morning “fixing,” used by some mining companies to sell output, rose to $1,747.50 an ounce in London from $1,740 at yesterday’s afternoon fixing. The metal climbed 10 percent in 2011, an 11th consecutive annual gain, as investors sought to diversify from equities and some currencies. Gold reached a record $1,921.15 in September and holdings in bullion-backed exchange-traded products are within 1 percent of December’s all-time high. Assets increased 4.4 metric tons to 2,376.2 tons yesterday, data compiled by Bloomberg show. Greece Discussions Greece and its creditors are locked in discussions over a debt-swap deal for the nation. The bondholders last week lowered their demands for an average coupon on the new 30-year debt they would receive to as little as 3.6 percent from 4.25 percent after European officials demanded they take steeper losses, people familiar with the matter said at the time. Silver for immediate delivery was little changed at $33.715 an ounce. It’s the best-performing precious metal this year with a gain of 21 percent. Palladium increased 0.2 percent to $697.92 an ounce. Platinum was 0.3 percent higher at $1,622.50 an ounce. Link to comment Share on other sites More sharing options...
VILLAFC2000 Posted February 5, 2012 Share Posted February 5, 2012 Hi Folks, I currently don't know a lot of people who have been made redundant. I am not saying that I know the whole of the UK, I know a few people here and there not loads. I know quite a few people in the building trade and they seem to be stacked for work. Plus the few people who I know who have been made redundant have found jobs straight away. A few who I know in the factory manufacturing who export to the EU who still have stacks of work and demand has increased. This seems contradictory to what the media are saying. Surely there are positives. Does any one you folks know many people who have been made redundant and who are finding it difficult to get a job? Link to comment Share on other sites More sharing options...
tonyh29 Posted February 15, 2012 Share Posted February 15, 2012 JLR posted £580m profit this year ... Not a bad turned around for a company that begged the (previous) govt for a £300m loan (denied) Maybe If only the money chucked at the banks had been put to better use.. Backing businesses Link to comment Share on other sites More sharing options...
drat01 Posted February 15, 2012 Share Posted February 15, 2012 JLR posted £580m profit this year ... Not a bad turned around for a company that begged the (previous) govt for a £300m loan (denied) Maybe If only the money chucked at the banks had been put to better use.. Backing businesses Excellent Spin from Tony As you well know Tony the last Gvmt offered financial help to the owners of JLR but the owners turned them down. In the end they got their loans from organisations such as Standard Chartered Bank, Bank of Baroda, and Burdale Financial Limited. (500 million in total) Basically what you have written is just made up :-) link I'm sure Sheffield Forgemasters will come calling soon ...... Link to comment Share on other sites More sharing options...
JulieB Posted February 15, 2012 Share Posted February 15, 2012 Maybe If only the money chucked at the banks had been put to better use.. Backing businesses Totally agree with Tony on that one... raise savers interest rates so that people benefit & get higher pension income but directly help businesses and households. Cameron said they were going to start helping businesses directly but I've not seen anything put in practice as yet. Interesting article on Financial Derivatives being the biggest threat to the worlds economy. The Quadrillion Dollar Financial Casino Completely Dominated By The Big International Banks I agree. What's more apparently at the Personal Finance Conference this year one of their speakers said exactly the same! I know it's the same old drum but THIS is a big reason why many countries are being downgraded by the ratings agencies because Wall St is betting against these sovereign nations & their debt causing concerns The best quote I read all day yesterday was - “Commodity futures markets serve a real economic purpose. Financial derivatives, even the financial futures markets, serve no economic purpose other than to increase the wealth of the major investment banks” Hats off to Stephen Hestor CEO of RBS on this one - because he came to exactly the same conclusion and closed RBS financial derivatives trading arm down in the main. Will have cost the bank billions in lost revenue but it would have safeguarded taxpayers assets. However HSBC & Barclays just rubbed their hands in glee as the local competition depleted. How much is a Quadtrillion £ off balance sheet market... is that $1,000 trillion? That dwarfs the entire global economy! Unbeleivable that it's not regulated in any manner. Link to comment Share on other sites More sharing options...
tonyh29 Posted February 15, 2012 Share Posted February 15, 2012 As you well know Tony the last Gvmt offered financial help to the owners of JLR but the owners turned them down. no they didn't ..... The UK government declined to offer guarantee to the loan. So JLR went and found private investors willing to take the gamble, then the government came back and offered money months later and AFTER the need!!!! Link to comment Share on other sites More sharing options...
peterms Posted February 16, 2012 Share Posted February 16, 2012 JLR posted £580m profit this year ... Not a bad turned around for a company that begged the (previous) govt for a £300m loan (denied) Maybe If only the money chucked at the banks had been put to better use.. Backing businesses Excellent Spin from Tony Tony's second para is quite correct. The money newly "printed" (not physically, of course) and handed to the banks via quantitative easing was meant to be recirculated in the economy by being lent to businesses to invest. Except... ...businesses won't invest until they see the prospect of some increasing demand for their goods and services, because only a fool would do so... ...demand is falling, because of the government's stupidly boneheaded decision to taken demand out of the economy at the exact time when we should be stimulating demand... ...banks don't want to lend anyway, they are busy repairing their balance sheets and reducing their exposure... ...so all the new money, or almost all of it, has disappeared without trace, leaving banks better off, businesses no better off, savers worse off because interest rates are held artificially low to stimulate the investment which won't happen for the reasons described above while inflation erodes the real value of their savings, and most people worse off because these policies prolong the recession. Osborne is without doubt the most pointless waste of space we have ever seen in such a high office of state. He couldn't find his own arse with a mirror and a flashlight. I recognise that Tony may agree with only the very first part of what I have said. Link to comment Share on other sites More sharing options...
tonyh29 Posted February 16, 2012 Share Posted February 16, 2012 no .. i sort of agree with all of it apart from your last paragraph I think Brown edges that award :winkold: Link to comment Share on other sites More sharing options...
markavfc40 Posted February 16, 2012 Share Posted February 16, 2012 Osborne is without doubt the most pointless waste of space we have ever seen in such a high office of state. He couldn't find his own arse with a mirror and a flashlight. I think 99.9% of the population would take that as a given. The previous poster being part of the 0.1% that doesn't :winkold: Link to comment Share on other sites More sharing options...
drat01 Posted February 16, 2012 Share Posted February 16, 2012 As you well know Tony the last Gvmt offered financial help to the owners of JLR but the owners turned them down. no they didn't ..... The UK government declined to offer guarantee to the loan. So JLR went and found private investors willing to take the gamble, then the government came back and offered money months later and AFTER the need!!!!::-) Tony stop now trying to spin that into some anti-Labour rant. There is a million and one reports that show that the story is nothing like you are trying to make it. And I notice you still ignore perfect examples of THIS gvmt refusing loans for reasons that remain questionable. Link to comment Share on other sites More sharing options...
tonyh29 Posted February 16, 2012 Share Posted February 16, 2012 A million and one reports and yet you didn't feel the need to link to one of them :winkold: And the story was more about money being used to bail out banks rather than business as much as anything (see replies by Julie and Peter) And both govts are guilty of that... Link to comment Share on other sites More sharing options...
tonyh29 Posted February 16, 2012 Share Posted February 16, 2012 Osborne is without doubt the most pointless waste of space we have ever seen in such a high office of state. He couldn't find his own arse with a mirror and a flashlight. I think 99.9% of the population would take that as a given. The previous poster being part of the 0.1% that doesn't :winkold: I think if one did a poll Brown would score far more that .1% so your statement is rather foolish really :-) Brown sunk a whole economy and bankrupted a country ...and Osborne hasn't managed that ...... yet Link to comment Share on other sites More sharing options...
Genie Posted February 16, 2012 Share Posted February 16, 2012 JLR still flying the flag for recovery. Announced earlier in the week a £557m pre tax profit for the last quarter. Link to comment Share on other sites More sharing options...
tonyh29 Posted February 16, 2012 Share Posted February 16, 2012 JLR still flying the flag for recovery. Announced earlier in the week a £557m pre tax profit for the last quarter. You'd think someone would have posted good news like that in a thread like this already ..... :winkold: Link to comment Share on other sites More sharing options...
peterms Posted February 16, 2012 Share Posted February 16, 2012 Brown sunk a whole economy and bankrupted a country ...and Osborne hasn't managed that ...... yet I know it's the tory party's overriding approach to keep repeating that Brown caused the recession, in the hope that constant repetition will make people believe it, but it really is nonsense. The biggest problem, by far, is the way the finance sector globally has become bloated, living on Ponzi schemes and illusion, and apparently beyond democratic control. It's the banks that are bankrupt, not the country. As for Labour's record, here's a study which specifically assesses their term of office. The summary (see page i, "Takeaways") is basically that the economy grew strongly, with GDP per capita growing faster than eg Germany and the US over that period; that this was not due to unsustainable bubbles; that finance contributed only 0.4% of the annual 2.8% growth; and so on. This is supported by a lot of data, rather than handwringing about "what we inherited from Labour" and the rest of the emotive nonsense put out by Tory Central Office and repeated ad nauseam by every government minister. Link to comment Share on other sites More sharing options...
Genie Posted February 16, 2012 Share Posted February 16, 2012 JLR still flying the flag for recovery. Announced earlier in the week a £557m pre tax profit for the last quarter. You'd think someone would have posted good news like that in a thread like this already ..... :winkold: Great news like this was worth posting twice Shame on me for not checking the previous page :oops: Not sure I agree with too much on the previous page mind, The previous government turned down JLR's request for a cheap loan because they felt that the owners (TATA) had sufficent cash and wealth to support them through the downturn. If I'm honest I agree. I think JLR were trying it on a bit. Gordo did actually visit the HQ at Gaydon twice to discuss this. They did get a chunk of money ~£300m iirc from some central European fund to develop green technologies. Link to comment Share on other sites More sharing options...
mockingbird_franklin Posted February 16, 2012 Share Posted February 16, 2012 Brown sunk a whole economy and bankrupted a country ...and Osborne hasn't managed that ...... yet I know it's the tory party's overriding approach to keep repeating that Brown caused the recession, in the hope that constant repetition will make people believe it, but it really is nonsense. The biggest problem, by far, is the way the finance sector globally has become bloated, living on Ponzi schemes and illusion, and apparently beyond democratic control. It's the banks that are bankrupt, not the country. As for Labour's record, here's a study which specifically assesses their term of office. The summary (see page i, "Takeaways") is basically that the economy grew strongly, with GDP per capita growing faster than eg Germany and the US over that period; that this was not due to unsustainable bubbles; that finance contributed only 0.4% of the annual 2.8% growth; and so on. How much of this growth was due to a credit based consumer spending boom fed by a commodities bubble (rampant house price inflation in this case) wasn't a major contributory factor of this house price inflation bubble easy and often wreckless supply of credit from the financial sector as is usually the route cause of all commodity bubbles. You definitely can't say Brown was just an innocent bystander and just as equally you can't say he alone is to blame, the seeds were sown by earlier Governments, and the worry is current government seem more intent on supporting the same scenario rather than learn from these mistakes. Link to comment Share on other sites More sharing options...
snowychap Posted February 16, 2012 Share Posted February 16, 2012 JLR still flying the flag for recovery. Announced earlier in the week a £557m pre tax profit for the last quarter. You'd think someone would have posted good news like that in a thread like this already ..... :winkold: Great news like this was worth posting twice Whilst it's undoubtedly good news for the company itself and its owners/shareholders (and probably its workforce), I'm not sure whether that necessarily translates into 'flying the flag for recovery'. Link to comment Share on other sites More sharing options...
Genie Posted February 16, 2012 Share Posted February 16, 2012 Jeeezus Link to comment Share on other sites More sharing options...
snowychap Posted February 16, 2012 Share Posted February 16, 2012 Jeeezus I don't think he posts in this thread. Link to comment Share on other sites More sharing options...
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