BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Why is gold trading at record levels? Look to India for the answer]]>http://www.bloggingstocks.com/2009/11/03/wow-why-is-gold-trading-at-record-levels/http://www.bloggingstocks.com/2009/11/03/wow-why-is-gold-trading-at-record-levels/http://www.bloggingstocks.com/2009/11/03/wow-why-is-gold-trading-at-record-levels/#commentsFiled under: , , , , ,

Here's a shocker: India's central bank just bought 200 tons of gold.

India paid $6.7 billion to the International Monetary Fund for the gold, securing the equivalent of 8% of the world's annual production. India's move is a clear signal that Asia is moving away from the U.S. dollar.

India's finance minister said the reason for the purchase was that the economies of Europe and the US had "collapsed."

Continue reading Why is gold trading at record levels? Look to India for the answer

Why is gold trading at record levels? Look to India for the answer originally appeared on BloggingStocks on Tue, 03 Nov 2009 18:00:00 EST. Please see our terms for use of feeds.

Read | Read | Permalink | Email this | Comments]]>asiacurrenciescurrency reservesCurrencyReservesfeaturedgoldIndiaTue, 03 Nov 2009 18:00:00 EST<![CDATA[Dollar's share of currency reserves falls in Q3, IMF says]]>http://www.bloggingstocks.com/2007/12/28/dollars-share-of-currency-reserves-falls-in-q3-imf-says/http://www.bloggingstocks.com/2007/12/28/dollars-share-of-currency-reserves-falls-in-q3-imf-says/http://www.bloggingstocks.com/2007/12/28/dollars-share-of-currency-reserves-falls-in-q3-imf-says/#commentsFiled under: , , ,

The dollar's share of global foreign currency reserves dropped to a record low in the third quarter (Q3), Bloomberg News reported Friday, citing International Monetary Fund data.

The dollar comprised 63.8% of reserves at the end of September 2007, down from 65% at the end of June 2007, the IMF said. Meanwhile, the euro's slice of the reserve pie increased during the same period to 26.4% from 25.5%. The British pound's portion rose to 4.7% from 4.6%.

Dollar doldrums

Analyst C. Leonard Bauer, formerly of Prudential, said a constellation of factors is prompting governments to reduce dollar-based foreign exchange reserves, chief of which is the dollar's decline versus the euro, pound, and other major currencies.

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Dollar's share of currency reserves falls in Q3, IMF says originally appeared on BloggingStocks on Fri, 28 Dec 2007 17:04:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>British poundcurrenciescurrency reservesdollarECBeuroeuro zoneEuropean Central Bankexchange rateforeign exchangeGDPgoldreserve currencySwiss francU.S. economyyenFri, 28 Dec 2007 17:04:00 EST<![CDATA[As OPEC talks currency, traders focus on supply]]>http://www.bloggingstocks.com/2007/11/19/as-opec-talks-currency-traders-focus-on-supply/http://www.bloggingstocks.com/2007/11/19/as-opec-talks-currency-traders-focus-on-supply/http://www.bloggingstocks.com/2007/11/19/as-opec-talks-currency-traders-focus-on-supply/#commentsFiled under: , , , , , , , , , , , ,

While some OPEC oil ministers who attended this weekend's Riyadh summit continued to express support for shifting a portion of their cash reserves to the euro and away from the dollar, oil market traders and analysts focused on OPEC's failure to boost oil production. This helped move oil prices higher in mid-day trading Monday.

Oil, which traded around $94.50, is priced in dollars, hence when the dollar falls, the purchasing power of nations with petro dollars declines. Some OPEC members, including Iran and Venezuela, voiced strong support for converting cash reserves to a currency other than the dollar. Iranian President Mahmoud Ahmadinejad called the dollar a "worthless piece of paper," the Associated Press reported.

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As OPEC talks currency, traders focus on supply originally appeared on BloggingStocks on Mon, 19 Nov 2007 12:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Ahmadinejadcurrenciescurrency reservesdollareurofeaturedforeign exchangegasolinegasoline pricesheating oilheating oil pricesIranoiloil pricesoil productionOPECpoundU.S. dollarVenzuelayenMon, 19 Nov 2007 12:50:00 EST