Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Gold Prices Surge As Central Banks Raise Lending Interest Rates

April 8, 2011 by  

Gold prices surge as central banks raise lending interest ratesThe demand for gold assets has reached record levels as investors are responding to rising oil prices and turbulence overseas.

Reuters reports that gold prices hit record highs in London and New York on April 7, as futures for June delivery in the United States peaked at $1,467 an ounce.

Confidence in the global market continues to wane as the European Central Bank recently announced that it has increased interest rates to 1.25 percent. According to the Financial Times, the current equivalency price of a euro is $1.43, which is a 15-month high. Making matters more precarious, Portugal has asked for a financial bailout from the European Union.

Earlier this week, China's central bank announced that it will raise its lending and deposit rate by 0.25 percentage points to 3.25 percent. It was the fourth time since October that China had increased its interest rates, according to Bloomberg.

Meanwhile, unrest in North Africa and the Middle East as well as the ongoing nuclear contamination crisis in Japan has further aggravated concerns over inflation.

"Inflationary fears are fuelling strength in precious metals," Kathleen Brooks, a market analyst with, told the Financial Times. "As oil takes another leap higher, gold and silver follow, and there is little standing in its way between where it is now and $1,500 per ounce." 

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “Gold Prices Surge As Central Banks Raise Lending Interest Rates”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at

  • http://com i41

    It lloks like the moronic socialist dems dream is coming into fruitation. With the massives spending in the last 4 years of democrat controlled Congress and their doing Onumnutts bidding. The marxist muslim moron master plan has been working with the UN and all other dictators to trash America since before he was elected. Between worthless money and world food shortages, get ready for government ownership of all business and toal government ownership as stated by the 2007 UN mandate. Any jackass that supported and voted democrap, make sure to give them an azz kicking for being idoits.

  • Steve

    I want to get excited over PM’s but it’s hard to when I know the crash is coming. It’s going to be real bad and the question is going to quickly turn to what can I do to help people. We obviously can’t help everyone but also can’t sit there with in a bunker. If you do your conscience will stab you to death.

  • http://com i41

    Easyist way is to stop all foreign aide, cut beltway pay by 50 % and let them buy rtheir own healthcare. Stop all unelcected agencies staffs and agencies immediately. Put a bounty on all illegals by creating a contract hunter of so much a head, with deliverey to the Sherriff Joe’s tent city. Bring them in ambulatory or horizantal. non movement illegals, huner only get 25% of a walking stiff. No paper work except for a 1 page contract with a back slapper tattoo to place a number on the illegal and a ID for which hunter get the credit. For dark skinned ones tattoo, use the bottoms of the feet, stops run and escaping. Average welfare cost for an illegal is #000 a month so to save the USA money make a 1000 dollars a head and rest goes to paying off the massive debt.


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.