Gold & Silver Bullion

Japan Goes For Gold
Commodity Online
The big issue in global markets is the meeting of the Bank of Japan, writes Julian Phillips of the Gold Forecaster, where they debated what to do about a Yen strong enough to damage Japanese exports, the mainstay of the Japanese economy. It was agreed that Japan will spend ¥920 billion ($10.8bn) on economic stimulus and compile an extra budget if needed. The central bank expanded a loan program by ¥10 trillion ($116bn). This left the market underwhelmed and the Yen went stronger still.
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Gold Prices Slip; Buyers Must Be Cautious
The Street
Gold prices were tentatively lower Wednesday as investors piled into stocks as better-than-expected manufacturing data offset a disappointing jobs numbers. Gold for December delivery was slipping $2.40 to $1,247.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Wednesday has traded as high as $1,256.60 and as low as $1,246.20.
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Gold Futures Turn Lower on China Data
Market Watch
Gold futures reversed on Wednesday, going against a broad rally in commodities and stocks in the wake of upbeat Chinese manufacturing data, which also pressured the dollar. Gold for December delivery fell $3.80, or 0.3%, to $1,246.50 an ounce at the New York Mercantile Exchange, compared with a settlement high of $1,258.30 an ounce set in June. Gold, which traded as high as $1,256.60 an ounce earlier, dropped after payroll processor ADP said U.S. private-sector employment fell 10,000 in August. Read Economic Report for more on ADP.
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Japan’s Economic Stimulus is Good for the Gold Price
Kitco
The issue this week was the meeting of the Bank of Japan where they debated what to do about a Yen strong enough to damage Japanese exports, the mainstay of the Japanese economy. It was agreed that Japan will spend 920 billion yen [$10.8 billion] on economic stimulus and compile an extra budget if needed. The central bank expanded a loan program by 10 trillion yen [$116 billion]. This left the market underwhelmed and the Yen went stronger still.
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International Forecaster September 2010
GoldSeek
Almost two years ago the US Treasury was selling large amounts of short-term Treasury bills to fund bailouts and stimulus. That caused a major increase in debt. Most of that paper was 2-year bills and it is coming due for rollover shortly. While that transpires, October will report the annual fiscal deficit of 9/30/10 of about $1.5 trillion, a figure thought impossible just 1-1/2 to 2 years ago. This time around the Treasury will have to depend on the Fed and US banks and institutions to fund this mountain of paper.
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Gold Advances to a Two-Month High
Bloomberg
Gold advanced to a two-month high as the dollar fell for the first time in three days, increasing the appeal of the precious metal as an alternative investment. Gold for immediate delivery rose as much as 0.2 percent to $1,250.43 an ounce, the highest price since June 28, and traded at $1,250.10 at 3:29 p.m. Tokyo time. December-delivery futures were little changed at $1,251.80 on the Comex in New York after rising as high as $1,252.30.
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