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Russia And Iran Sign Historic 500,000 Barrel A Day Oil Deal – Petrodollar Under Threat
Greetings,
Russia And Iran Sign Historic 500,000 Barrel A Day Oil Deal – Petrodollar Under Threat
by GoldCore
Today’s AM fix was USD 1,288.50, EUR 964.27 and GBP 765.23 per ounce.
Yesterday’s AM fix was USD 1,292.75, EUR 965.03 and GBP 765.71 per ounce.
Gold fell $0.40 or 0.03% yesterday to $1,288.10/oz and silver slid $0.38 or 1.88% to $19.81/oz.
President Putin Admires Gold Bar (London Gold Delivery Bar)
Gold is marginally higher in London this morning but remains in a tight range between 1,287/oz and 1,292/oz. Trade remains lackluster and futures trading volume was 50% below the average for the past 100 days this morning, Bloomberg data shows. Overnight gold in Singapore was marginally higher consolidating on the spike in gold seen in late trading in New York.
Silver for immediate delivery rose 0.5% to $19.85 an ounce. Spot platinum was flat at $1,454.63 an ounce, while palladium added 0.2% to $851 an ounce.
Gold remains in its summer doldrums despite the western world sleepwalking into another major conflict with Russia and potentially another World War.
Gold in US Dollars – 5 Years (Thomson Reuters)
European stocks fell today as nervous investors sold stocks on reports of a build-up of Russian troops near the border with Ukraine. Polish foreign minister Sikorski said Russia has gathered substantial military forces at the border with Ukraine to either put pressure on the neighbouring country or to enter it.
Russian President Vladimir Putin has ordered his government to prepare retaliatory measures against the latest round of Western sanctions. Russian Prime Minister Dmitry Medvedev threatened on yesterday to retaliate for the grounding of a subsidiary of national airline Aeroflot because of EU sanctions, with one newspaper reporting that European flights to Asia over Siberia could be banned.
Premiums for gold bars in India remain depressed and in China premiums remain at $2 to $3 suggesting demand continues in China but at lower levels than those seen last year.
Russia Delivers Blow To Petrodollar In Historic $20 Billion Iran Oil Deal
Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system yesterday.
Currency wars are set to escalate as the petro dollar’s decline continues……MORE HERE
Read more at http://investmentwatchblog.com/russia-and-iran-sign-historic-500000-barrel-a-day-oil-deal-petrodollar-under-threat/#T6pDck0vFDIhwB9e.99
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