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Germany is Abandoning Fiscal Discipline: Great News for Gold Priced in Euros
For more than thirty years, Germany has been the main pillar of the eurozone’s fiscal credibility. It was not simply a matter of public finances. Berlin embodied the very philosophy on which the single currency was based: limited debt, contained deficits, and a central bank independent of government financing. The Maastricht criteria — a public deficit below 3% of GDP and debt limited to 60% of GDP — bear the distinct mark of this German vision of monetary stability. This philosophy was not limited to economics. It was deeply rooted in German history. The traumas of Weimar hyperinflation and the subsequent ... (full story)
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From kitco.com | 22 min ago
Gold traded at a wide discount in India this week as price volatility weighed, while demand in China remained steady with the country's central bank reporting its largest monthly increase in gold reserves in more than 2-1/2 years in June. International spot gold prices slipped to a two-week low, retreating from an over 2% jump last week. Domestic gold ...
