June 2011 Archives

Gold traded a very robust $60.80 range this week as traders and investors tried to decipher all the week's global economic data. The past few trading sessions have resulted in an avalanche sell-off forcing the price of Gold to drop from $1559.30 to $1498.50 per ounce. The August Gold futures contract settled at $1500.90 for the week. This Gold sell-off was much needed as the market has been technically overbought and it appeared the "BULL" market was running on fumes. However. I am not ready to declare the "BULL" dead and buried. A healthy market needs to "refresh" and "correct" in order to maintain its integrity.

Technically there is support between $1460.00 and $1475.00 and Resistance at $1560.00. The following are reasons why the Gold market experienced the choppy, volatile, and vast range.

Tuesday:

The Greek Parliament which will decide whether Greece will receive more bail-out funds from the European Union and the International Monetary Fund or defaulting on their debt. The Gold rally today was fueled by a weaker U.S Dollar versus the Euro today. Most analysts are fairly certain the vote will be positive. The austerity measures are extremely stringent and have forced the citizens of Greece to demonstrate against the strict measures.

Most analyst believe that the FOMC will leave interest rates unchanged.

Thursday:

The sell-off started overnight as traders and investors heard the uncertainty from the FOMC meetings regarding the United States economy "loud and clear" it is common knowledge to seasoned traders that "markets hate uncertainty". Apparently the FOMC has backed off a bit from their view earlier this year and are not painting the same rosy picture.

The FOMC released statements as follows: "The labor Market has been weaker than anticipated"."Inflation has picked up in recent months" and the Housing sector remains depressed".

Thursday:

The sell-off was fueled early in the day session when news revealed the United States would spearhead an International effort to replace some of the Oil production lost due to the Libyan conflict. The U.S will release 60 million barrels of petroleum from its reserves according to the (IEA) International Energy Agency. This action shook the Crude Oil futures market causing the price to dip below $90.00 per barrel today...(August Crude Oil traded as low as $89.69 per barrel) more Crude Oil on the market pushes prices lower lower Crude prices are "bearish" precious metals - THIS IS THE LAW OF SUPPLY & DEMAND !!!!!

The Labor Department released the Initial Jobless Claims that were 9,000 worse than last week at 429,000.

The European Union Leaders warned Greece that there will be no further concessions, and they must pass the austerity plan as is. Once again a line drawn in the sand.

Today;

The sell-off continued as support resistance levels did not hold and triggered liquidation stop-loss and a short selling frenzy.

MY SWING NUMBERS / MONDAY 6/27

AUGUST GOLD

RESISTANCE # 2...................$1537.00
RESISTANCE # 1...................$1520.00
PIVOT...................................$1509.00
SUPPORT # 1.......................$1490.00
SUPPORT # 2.......................$1481.00

JULY SILVER

RESISTANCE # 2...................$35.80
RESISTANCE # 1...................$35.21
PIVOT...................................$34.83
SUPPORT # 1.......................$34.24
SUPPORT # 2.......................$33.86

Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-563-8029

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

An annual survey estimated that the combined wealth of the world's 10.9m rich people (27% of whom are women) stood at $42.7 trillion in 2010, more than in 2007, the year the financial crisis was brewing. More than half of the monied classes live in the United States, Japan and Germany, though Asia has more in total than Europe for the first time.

A report by Capgemini for Merrill Lynch stated that in 2007 there were approximately 3,028,000 households in the United States who held at least US$1 million in financial assets, excluding collectibles, consumables, consumer durables and primary residences.

According to TNS Financial Services, Los Angeles County has the highest number of millionaires, totaling over 262,800 households as of mid-2006. Los Angeles County is also the largest single jurisdiction of any kind in the United States.

Offshore banking can be immensely lucrative to many investors. This is primarily because an investment's rate of interest is much higher in the case of numerous, offshore jurisdictions. Many offshore companies are established in a location that offers a low tax jurisdiction, which assists in earning a high rate of interest and thereby, generating much profit. Although there are a few disadvantages of having an account at an offshore bank, there are many reasons, why offshore companies continue to prove to be highly beneficial and advantageous for investors. In this article, we shall discuss the reasons that make offshore banking a consideration for any prosperous business plan.

• Financial privacy is one of the biggest benefits of investing in offshore companies. The secrecy policies provided by so many offshore jurisdictions make them attractive to many investors. There are a large number of offshore banks that also provide an excellent return on investment through the potential for higher interest gains.

• Sometimes, these offshore companies are located in a tax haven, or in a place, where the tax regulations and charges are very lenient. In addition, some locations may also add to the prospective profits through high interest rate gains on offshore banking. In most cases, these jurisdictions are the nations that have a comparatively stable financial and political jurisdiction. When involved in international business investments, it will always pay off to remain aware of a jurisdiction's local economy. Smart investors pay attention to factors such as this and make educated decisions upon where to establish the best offshore banking location.

• There are many services that are provided by leading offshore banking organizations that are not a part of services provided by domestic banks in a particular region. International tax planning services are one example of an attractive and valuable professional service for intelligent offshore companies. These experts can provide the guidance necessary for a successful offshore company location. Many of these consultants will also have the ability to assist in a business' international tax planning strategy for the most effective and profitable formation.

Large numbers of offshore companies are located in remote and faraway lands that provide a more lenient or simpler tax regulation system with lower fees for investors. In addition, these countries may also offer offshore companies a comparatively, stable political and financial environment. Remember to spend time thoroughly evaluating the many options for an offshore company formation. It may be helpful to consult with fiduciary experts for the most successful investment possible. Visit CarloScevola.com for more information on offshore companies, offshore banking, and so much more.

GPMT offers buy-and-hold traders the advantages of owning physical bullion

Precious metals prices are presently at historically high levels. The rising values of these commodities have attracted a lot of attention, which has encouraged many new traders and investors to capitalize on this uptrend. There are a number of different ways to conduct gold, silver, palladium and platinum investment these days. Most people invest in precious metals by trading commodity futures, or ETFs (exchange-traded funds), which are funds that invest in the physical commodity or its futures contracts. Others might buy stock in mining companies as an indirect way of benefiting from precious metals price movements. However, it can be tricky and time-consuming to learn how to trade silver, gold or other metals.

The old-fashioned form of precious metals trading, i.e. buying and selling physical bullion, has long been overtaken by these modern methods. However, it is coming back into vogue now, with more and more individuals and corporations seeing the advantages of owning a tangible asset that also has an intrinsic value, rather than one that essentially comes down to a piece of paper.

In today's uncertain world, some investors are becoming concerned that the banks and other institutions that issue, or act as counterparties to, financial instruments such as futures and ETFs could default on their obligations if metals prices drop drastically. This is because futures are typically only fractionally backed by physical assets. This would render the paper contracts worthless. A mining company can go bankrupt too, leaving investors in the lurch. In contrast, anyone who owns bars or coins of precious metals would still hold an asset they could sell.

When someone conducts, for example, online gold trading to buy or sell physical gold at a firm like Global Precious Metals Trading (GPMT), they also take on less risk as this type of trading uses much lower leverage than futures or ETFs. Of course it does mean that any gains are less spectacular too. All in all, physical bullion can be highly suitable as a relatively low-risk addition to any medium or long term investment portfolio.

More information about trading and investing in physical precious metals can be found at GPMT.com or by calling (305) 569-0044.

About Global Precious Metals Trading

The goal of Global Precious Metals Trading (GPMT) is to provide an efficient, convenient and professional service for individuals and corporations who are looking to trade gold, silver, platinum and palladium, and to accumulate these precious metals as an investment. GPMT offers the unique opportunity of online precious metals trading at the best price, with the empowerment and potential that have not been previously available.

Global Precious Metals Trading can be reached at (305) 569-0044, or on the web at GPMT.com.

Finding out how to begin investing offshore and if offshore banking is right for you depends on your individual needs and circumstances. Offshore bank accounts can be defined as an account that is located outside of a person's domestic country's bank that may offer desirable options that are not available to them in their homeland. Because of government turmoil and unstable economic situations, many individuals and companies are looking for safe havens where they can place their money and other assets of interest into accounts offshore that will be free from risk. Another great option for those looking to banking offshore is the tax haven that many financial institutions offer for their account holders. Lastly, this kind of banking is great for those who travel frequently and want to have international access to their finances at any time day or night no matter what country they are located in at that time.

Getting offshore banking advice that is accurate and beneficial can sometimes become an overwhelming task. You will find that most offshore banking guides have some kind of incentive to promote one bank or account over another. Finding unbiased advice for banking offshore is important when planning for your financial future. Those who are interested in learning about how to bank offshore are more than likely already familiar with the many benefits that such an account structure can offer them.

Because there are so many jurisdictions to choose from, it is very important that investors looking to open an account understand the laws of the financial institutions in each location. You will soon find out that some offshore jurisdictions have very strict rules and regulations that govern these financial intuitions. This gives the account holder a high level of secrecy. That is often one of the biggest reasons individuals and businesses seek to go outside of their country for their banking needs. Those looking for safe havens for their financial investments will find that it is very important to get as much information as possible on how to become a wise banker.

Finding the right account outside of your country that some of the more prominent offshore financial institutions offer, is based on your own personal needs. You will find that offshore banks offer the same great benefits that someone will find from their domestic financial institutions. You will want to get a lot of your banking information from offshore banking guides so you will make an informed and educated decision so you get all the tax benefits and other incentives that the bank account structures have to offer.

Learn more about offshore banking and find the right information to answer all of your questions.

Article Source: http://EzineArticles.com/?expert=Molly_A_Clark

Tradeweb, a leader in building and operating fixed income and derivatives markets, today announced that it is enhancing its rapidly-growing European credit platform with the addition of European high-yield bonds. The expansion of the multi-dealer-to-customer platform follows a period of intensive growth in trading by asset managers on Tradeweb, resulting in an increase in monthly credit trading volumes of 269% over the last 18 months.

In an era of historically low fixed income returns, institutional investors continue to look to the corporate bond markets - and particularly the high-yield segment - to enhance portfolio returns.

"Investor interest in high-yield bonds has coincided with a boom in issuance over the past two years. It made sense for us to offer clients a more efficient way to invest in these securities," said Rupert Warmington, head of European Credit at Tradeweb.

"We expect another record year for the high-yield bond market if the trend over the first five months continues," said Warmington. "A key driver of this is the lack of issuance from cash-rich investment-grade corporates."

There are 21 dealers providing liquidity for high-yield bonds on Tradeweb's credit platform, which was launched in June 2006.

About Tradeweb

Tradeweb is a leading provider of online markets and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income and derivatives markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global fixed income and derivatives trading network that harnesses the distribution of the major investment banks with over 2,000 institutional clients. In 2008, Tradeweb introduced inter-dealing broking capability with the acquisition of voice broker Hilliard Farber and subsequently launched Dealerweb, an electronic IDB platform. Tradeweb Retail provides a trading and sales application to fixed income brokers and traders.

This week the Gold trade covered a $28.80 range as the market continues to reflect the global economic data. This week's data was certainly more U.S Dollar bullish and therefore forced the Gold bugs to reexamine long positions as the news from the European Union lent much needed strength to the U.S Dollar.

FINANCE NEWS FROM THE EURO REGION:

*Greek Default Swaps Rise 45.5 Basis Points to record 1,567.5
*Belgium Credit-Default Swaps rise 8 Basis Points to 153
*France Credit-Default Swaps Rise 5 Basis Points to 76
*Spain Credit-Default Swaps Rise 14 Basis Points to 275
*Italy Credit-Default Swaps Rise 9 Basis Points to 174
*Ireland Default-Swaps Rise 20 Basis Points to Record 710
*Portugal Default-Swaps Rise 11 Basis Points to Record 730

S&P said that France needs further reforms in order to keep its AAA rating in the long term...FIRST we have about France!

This week's highlights

Thursday: News from the European Union appears to be sketchy at best as an agreement between The European Union and Greece concerning the new fiscal plan apparently has been reached.

Today the Greek cabinet has approved a plan for a sale of Greece's assets in order to repay previous loans. Stay tuned this scenario changes by the minute.

There are strong hints that China and European Union intend to raise their Interest Rates....It is thought that the European union will raise in July and China may be sooner than later.......Both Central Banks are citing very high inflation.

Today's initial jobless Claims 8,000 more than projected at 427,000.....FOMC Vice-Chairman Janet Yellen Say's she sees "No quick or easy solution for the housing market" and stated that the housing recovery would be "drawn out recovery" and also acknowledged that the price tumble in the housing sector has left "deep scars" on families.

There are reports out of Libya stating that Moamar Gaddafi's days as leader of Libya may be numbered.

Wednesday: During yesterday's speech Chairman Bernanke stated that there would not be Quantitative Easing 3... This certainly was "bearish" for the precious metals. Less money printed means more value for the Dollar. I am not totally convinced that we have seen the last of Quantitative Easing but according to Mr. Bernanke it will not be continued when QE2 expires.

Traders and Investors alike will continue to use daily economic data to base their trading strategies we are now entering the summer markets and traders know that possibilities of range bound and sideways markets are in their future, at least historically.

MY SWING NUMBERS 6/13

AUGUST GOLD

RESISTANCE # 2............$1554.00
RESISTANCE # 1............$1541.00
PIVOT............................$1534.00
SUPPORT # 1............ ...$1521.00
SUPPORT # 2............ ...$1514.00

AUGUST SILVER

RESISTANCE # 2............$38.47
RESISTANCE # 1...... .....$37.46
PIVOT............................$36.79
SUPPORT # 1................$35.71
SUPPORT # 2..............$35.11

Mike Daly / GOLD SPECIALIST

PFG BEST
mdaly@pfgbest.com

312-563-8029
877-294-4669

In the globe of investments there are quite a few kinds, variations and kinds of investments that variety from the easy to the complex. You can choose upon using nearby investments, investments that are in the same country and even these investments that are across the ocean in a different region. Some countries have numerous guidelines and needs governing the sorts of offshore investments that citizens can participate in, but these policies and recommendations are typically completely achievable to nonetheless actively make offshore investments without having currently being limited.

One benefit to an offshore investment is you are in a position to find new types of investments that are not typically obtainable in the region wherever you reside. The specific definition of an offshore investment is investing in a country that is not the same nation in which you live. There are a number of positive aspects to employing offshore investments and the precise reasons differ commonly dependent upon the exact requirements and wishes of the investor.

Generally an offshore investment is very good for investors since of the decreased taxes that can be charged on the revenue from the investment. Although of training course the amount of advantages you can locate differ dependent on your precise tax standing as well as the sum of cash you are investing there are some techniques you can reduce your all round tax burden by moving the investment to an offshore investment instead than retaining it at home.

It is essential to make sure that you are watchful in producing certain all details is completely crammed out ahead of your tax procedure comes close to. A lot of men and women use offshore investments to conceal illegal cash or to interact in significantly less than ethical practices with money so the tax departments of a lot of governments are inclined to seem meticulously into these transactions to ensure that they are correctly legal and there is no illegal transactions taking spot. You should use an accounting if you are operating with offshore investments to make certain that you are adequately secured.

When making use of an accountant for your offshore investment it is a good thought to look for out an accountant who will supply audit safety in the event that they make a error so that you are not losing all of your likely profits to fines and penalties due to the fact your accountant has manufactured a mistake. This is really essential and most respected accountants supply this services to support supply clientele with reassurance. You can find out far more about investment and hedge money at www.vega-asset-management.com

There are a number of good factors why offshore investments are great, with a number of of the factors revolving all around fewer rules, tax savings and even greater privacy for the investor. These causes along with asset safety help inspire far more men and women to seek out offshore investments every single yr. One of the most well-liked locations to see offshore investments have a tendency s to be the Cayman Islands simply because of the openness and versatility of the investment and tax laws in the place.

Irrespective of your cause for looking to offshore investments it is often a wise thought to make certain that you are looking for investments with a good monetary professional who can help you make sure that you are producing good decisions with regards to investments before you spend your income. Watchful arranging will aid you reap the best rewards for your offshore investments.

About the Writer

Article by Dean Forster at www.vega-asset-management.com. More fantastic free of charge details on investing and hedge funds at Vega Asset Management

Statistics published on May 26 show that the value of investment fund business in Guernsey grew by GBP6.2bn (2.4%) during the first quarter of 2011.

The increase represents the seventh consecutive quarter of growth and takes the net asset value (NAV) of funds under management and administration in the island to a new record high of GBP263.6bn, as at the end of March 2011. This is a rise of GBP66.2bn (33.6%) compared to the end of March 2010.

Peter Niven, Chief Executive of Guernsey Finance, the promotional agency for the island's finance industry internationally, said: "We are continuing to build very positively on the exceptional growth during 2010 to start this year with a further, [albeit] slightly slower, increase in the value of funds business carried out in the island. It was always going to be difficult to sustain the rates of increase experienced last year but the fact that we have maintained the upward trend and now recorded seven consecutive quarters of growth shows the strong way in which our funds industry has bounced back from the financial crisis. These figures are the latest in a number of positives at play during the last few months and this is very encouraging for the future of Guernsey's funds sector."

The new figures from the Guernsey Financial Services Commission show that Guernsey domiciled open-ended funds reached a net asset value of GBP57.6bn at the end of March, which was a decrease of GBP0.3bn (0.6%) during the quarter but an increase of GBP1.5bn (2.7%) year on year.

The Guernsey closed-ended sector was valued at GBP114.8bn at the end of March, up GBP5.3bn (4.8%) during the first three months of 2011 and an increase of GBP22.5bn (24.4%) compared to twelve months earlier.

Non-Guernsey schemes, where some aspect of management, administration or custody is carried out in the island, increased in value by GBP1.2bn (1.3%) during the quarter to reach GBP91.2bn at the end of March 2011, some GBP42.2bn (86.1%) higher than the value at the end of March 2010.

Patrick Firth, Chairman of the Guernsey Investment Fund Association, said that the "figures are an endorsement of Guernsey as a jurisdiction for the administration of a diverse range of funds. All three categories, open-ended, closed-ended and non-Guernsey schemes have stood up well which is extremely encouraging coming on the tail of significant increases in 2010. This really does illustrate the strength of Guernsey's funds industry at the moment and we will be looking to sustain this momentum during 2011."

Niven noted that the figures follow hot on the heels of Guernsey being given the green light for its companies to list on the Hong Kong Stock Exchange; data from the London Stock Exchange showing that there are more Guernsey companies and securities listed on its markets than there are entities from any other competitor jurisdiction; a survey from Private Equity News/State Street showing that 61% of Chief Financial Officers prefer Guernsey as their destination of choice for private equity outsourcing; and a very successful Guernsey Funds Forum in London which attracted more than 300 delegates.

"Taken together, these developments show the extremely high regard in which our investment sector is held internationally. Guernsey Finance will be continuing to work with industry to ensure that we press home these very positive messages to key decision makers not just in the City of London - traditionally our principal source of new business - but also in the emerging markets such as China, India and Russia," he said.

Why Should You Setup a Seychelles Company?

The common financial issue that is faced by many corporations the world over is a high rate of taxes that they have to pay annually. Most of the business owners think that there are no legal alternatives to try and save some money on taxation, but this is not the case. You, as a business owner, have the option of establishing a holding company called Seychelles company in the island nation of Seychelles and getting to enjoy the benefits of a beneficial tax structure that is prevalent there. You may have subsidiary operations anywhere in the world, but you will be liable for taxation only in Seychelles where your holding company is located.

Along with the Seychelles company that you have incorporated, you will get to enjoy an incomparable protection of your privacy as the laws here do not require you to divulge sensitive company related information at the time of incorporation. Only a few basic details like the name, address of the company etc. are in the public domain. You also do not have to file your annual return or any other documents that are mandatory in many other developed countries in Europe and North America. The benefits of offshore company incorporation are many whichever way you look at it (financial, regulatory etc.).

The regulatory requirements in most of the developed nations with respect to private corporations are stringent and may require the business owner to file a large number of documents. There are also a number of regulators in these countries who may require variations of the same document. All these may cause a lot of hassles for the personnel handling the regulatory financial reporting procedure in your company. You can avoid all these issues if you set up a Seychelles company as you need not submit any of the usual regulatory documents in this country once you have finished the formalities of offshore company incorporation.

In addition to the Seychelles company, you can also open an offshore bank account to protect your funds from the rigors of taxation and unfavorable legislation. International investments are often dependant on large volume transactions where the margins may be lesser than expected. You will expect to make money on the volumes. This strategy gets affected if there is a high tax rate in the county where you reside. An offshore IBC can help you get out of the tangle by letting you channel all your international investments from the offshore bank accounts that you have set up. You also do not need to furnish many personal details at the time of setting up of an offshore account.

The offshore bank accounts have many other advantages including that of multi currency operations. This allows you the flexibility of remitting the money in different currencies without losing money in exchange rates and other requirements as is the case with onshore accounts. With all the advantages that can be tapped by setting up a Seychelles company and an offshore bank account, you could be well on your way to making a steady stream of profits in the years to come.

Silvia is the author of this article on Offshore bank account. Find more information about Seychelles Company here.

Saxo Bank Launches Retail FX trading Platform ForexTrading.com

Saxo Bank, the online trading and investment specialist, has announced the launch of ForexTrading.com which will offer retail investors a select range of FX crosses and CFDs with variable spreads - as low as 0.8 pips. ForexTrading.com provides investors with a range of basic functionalities designed to make trading flexible and straightforward.

ForexTrading.com is powered by Saxo Bank, which is renowned for aggregating liquidity from the world's leading FX (www.saxobank.com/en/trading-products/) dealers. ForexTrading.com gives traders the ability to trade in the world's most liquid currency pairs and global commodity CFDs ( www.saxobank.com/en/trading-products/cfds-stocks/) at very competitive spreads.

Claus Nielsen, head of markets at Saxo Bank, said: "Saxo Bank will continue to cater for high-net-worth and institutional traders who increasingly demand usability, mobility, performance, and service when executing online trades and orders. At the same time, ForexTrading.com will appeal to Forex (www.forextrading.com/) and CFD traders who are price sensitive and do not require a personal service, but still want the ability to utilise an award-winning online trading platform.

"We believe the retail foreign exchange market will maintain its growth trajectory for the next 10 to 15 years and we want to cater for high-net-worth investors as well as high-frequency traders to who tight spreads and deep liquidity are essential. There is no additional commission on ForexTrading.com and we see ForexTrading.com as bringing new competition to the smaller competitors, outside the tier-one banks, in the market focused on foreign exchange."

The minimum initial deposit when opening an account with ForexTrading.com is $2,000 or equivalent and no interest will be paid on funds on deposit. ForexTrading.com will only offer English support and service and ForexTrading.com only supports retail trading accounts.

More information on Forextrading.com forex accounts (www.forextrading.com/trading-terms/forex-spot-and-forwards) can be found on the ForexTrading.com website.

About Saxo Bank:

Saxo Bank is a leading online trading and investment specialist with a worldwide client base. The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2010 Saxo Bank continued the diversification of its business with acquisitions of Saxo-ETrade Bank, a specialist in online investment, and Brørup Sparekasse, a Danish savings bank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East and Australia. Saxo Bank opened its Dubai office in 2009 and was the first Danish bank to establish its presence in the Gulf Corporation Council region.

PR contact:

www.saxobank.com