Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
BREWING FINANCIAL CRISIS 2.0 Suggests RECESSION 2022 - 28th Jan 22
Financial Stocks Sector ETF XLF $37.50 Continues To Present Opportunities - 28th Jan 22
Stock Market Rushing Headlong - 28th Jan 22
The right way to play Climate Change Investing (not green energy stocks) - 28th Jan 22
Why Most Investors LOST Money by Investing in ARK FUNDS - 27th Jan 22
The “play-to-earn” trend taking the crypto world by storm - 27th Jan 22
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Minsk Summit Highlights A Shaky NATO Union – Russia Is Far From Isolated

Politics / GeoPolitics Feb 11, 2015 - 04:57 PM GMT

By: GoldCore

Politics

- Merkel and Hollande to attend peace talks in Belarus to resolve Ukraine’s civil war today

- US and UK not invited

- Germany and US present united front but tensions ripple under the surface

- Foreign Minister of Greece, Nikolaos Kotzias, to meet his Russian counterpart Sergei Lavrov today as the crucial Eurogroup of finance ministers meet to determine the fate of Greece and the Euro


- Russia negotiates free-trade agreement with Egypt.  Cyprus permits Russia to use ports and airstrips for humanitarian and emergency purposes

The leaders of Russia, Germany, France and Ukraine will meet in the Belarusian capital of Minsk today in a bid to resolve Ukraine’s brutal civil war.

The meeting, which the Russia Today news agency describe as a Franco-German peace initiative, will not include the leaders of the US or Britain.

RT suggests that the talks were triggered by John Kerry’s visit to Kiev where he announced the possibility of the US arming Ukraine government troops adding that “Europe is reluctant to have a full-blown war on its doorstep.”

Preliminary talks between Merkel, Hollande and Putin in Moscow on Friday were held behind closed doors. On Monday Merkel met with Obama in Washington. While they tried to present a united front the subtext of their statements and their body language gave a different impression.

US politicians have been clamouring for Obama to provide weapons to the Ukrainian government. But Merkel was unequivocal in her response to such proposals. “I don’t see a military solution” she said adding that sending arms to the Ukraine government would be “not just highly risky but counterproductive.”

Obama insisted that the arms option was under “ongoing analysis” while at the same time agreeing with Merkel that, for now, the civil war would not be resolved by military means. He insisted that Russia’s isolation would worsen if it failed to change course.

Meanwhile, geo-politics will play as great a role in today’s Eurogroup meeting of finance ministers as economic considerations.

The Greek government have sent a clear message to the EU when the Greek Kathimerini news agency reported on Monday,

“Greece’s Foreign Minister Nikolaos Kotzias is to visit Moscow on Wednesday to hold talks with his Russian counterpart Sergei Lavrov, Russia’s Interfax and TASS news agencies reported on Monday citing a source in the Russian Foreign Ministry.”

Reuters reported Greek defence minister, Panos Kammenos as saying,

“What we want is a deal. But if there is no deal – hopefully (there will be) – and if we see that Germany remains rigid and wants to blow apart Europe, then we have the obligation to go to Plan B.”

“Plan B is to get funding from another source. It could the United States at best, it could be Russia, it could be China or other countries.”

That Mr. Kotzias will be in Moscow today is telling.

At the same time, Cyprus have announced an agreement with Russia that will allow Russia’s military to use it’s ports and airstrips for humanitarian and emergency purposes.

“We want to avoid further deterioration in relations between Russia and Europe,” said President Anastasiades. “Cyprus and Russia enjoy traditionally good relations and that is not going to change,” he added.

It was reported yesterday that Egypt will join the Eurasian Economic Union, a free trade group modelled on the EU which is led by Russia. Clearly Russia is not as isolated as Western powers would wish.

With the leaders of two key NATO states initiating diplomacy with Russia independently of the US and the UK and another minor NATO player, Greece, pivoting East-ward to Russia to strengthen its independence from the EU it is clear that the NATO “alliance” is not what it once was.

If diplomacy should fail in Minsk today it would pave the way for the US to start arming the Ukraine government. This would lead to an acceleration of the war and it’s morphing into a proxy war to which Germany and France are opposed.

Coupled with the latent economic crisis in Europe – which will be exacerbated no matter what the outcome of today’s Eurogroup meeting – an acceleration in Ukraine’s civil war would be disastrous for the people of Europe.

The EU may fracture and with it the Euro currency. We continue to urge our clients to hold physical gold, the only currency without counterparty risk, in safe locations around the world.

GoldCore Guide: 7 Key Storage Must Haves

MARKET UPDATE

Today’s AM fix was USD 1,235.50, EUR 1,092.40 and GBP 807.73 per ounce.
Yesterday’s AM fix was USD 1,237.50, EUR 1,096.78  and GBP 812.97 per ounce.

Gold fell 0.54 percent or $6.70 and closed at $1,234.00 yesterday, while silver slipped 0.71 percent or $0.12 closing at $16.91.

Gold inched up on Wednesday in Asia as the dollar’s gains retreated and the market awaits a possible Greek exit from the eurozone. The county’s 240-billion-euro bailout expires on February 28th, most likely leaving the country bankrupt and at risk of a eurozone exit unless it can strike a deal with creditors.  Today, Greek Finance Minister Yanis Varoufakis is meeting with European counterparts asking for a 10 billion-euro ($11.3 billion) bridge plan to stave off a funding crunch and allow Greece more time to renegotiate austerity terms with creditors.

Uncertainty over when the U.S. Fed will announce an interest rate hike is also limiting gold’s gains, however a Fed official mentioned June yesterday in the press.

A hike in interest rates by the Fed, which has maintained near zero rates since 2008 to boost the sluggish U.S. economy, could further strengthen the U.S. dollar and may dampen the demand for bullion, a non-interest-bearing asset.

The uncertainty over whether Vladimir Putin and Ukrainian President Petro Poroshenko can negotiate a lasting ceasefire in Minsk is another factor weighing on the bullion market.

Spot gold rose 0.3 percent to $1,237.70 an ounce in late trading in Singapore.

Gold in London was trading range bound $1,233.63 per ounce up 0.07 percent. Silver was last $16.95 up 0.30 percent and palladium $1,207.40 up 021%.

This update can be found on the GoldCore blog here.

Mark O'Byrne

Director

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W www.goldcore.com

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in