Why has the WGC bought into BullionVault?

On Monday the World Gold Council (WGC) announced that it and Augmentum Capital had completed a £12.5 million funding round in BullionVault in exchange for an equity interest.

It is an interesting development in their strategy. Until 2002, the WGC strategy was to support those selling gold. The 12 August 2002 announcement by WGC . . . → Read More: Why has the WGC bought into BullionVault?

European Cash Needs Overblown

Negative moods in Europe are finally being calmed by news on Wednesday that the European Central Bank will likely lend less money than expected for the next three months. The data suggests that region’s banks’ cash needs were wildly overblown again by the crisis fear-mongers.

“The result of the ECB’s money market operations indicated . . . → Read More: European Cash Needs Overblown

Economic Events on July 1, 2010

The figures for motor vehicle sales in June will be released today.  The consensus estimate is that 8.9 million autos were sold last month, which would be the same as the number of autos sold in May.

The Monster Employment Index for June was released today, and the index moved up 7 points to . . . → Read More: Economic Events on July 1, 2010