Gold climbed $5.70 or 0.34% in New York yesterday and closed at $1,673.50/oz. Silver inched up to $31.86 in Asia, then it fell back to $31.38, and then rose to a high of $31.91, but eased off in afternoon trade and finished with a loss of 0.35%. Gold rose to a new record nominal high on the TOCOM at 0.156 million yen per ounce. The resignation of Bank of Japan Governor, Shirakawa on March 19 is pressuring the yen as is increased tensions in the Pacific between China and Japan - Japan accused China of targeting a Japanese naval vessel and helicopter.
Standard Chartered Plc, Britain’s second-largest bank by market value, agreed to pay US$327-million of fines, in line with the bank’s forecast, after regulators alleged it violated U.S. sanctions with Iran.
After paying a US$340-million settlement in August to New York’s Department of Financial Services, the London-based company told investors on Dec. 6 it expected to pay about US$330-million on Dec. 6 to resolve other investigations.
When banks dodge U.S. sanctions laws, they imperil our financial system and our national security
When it comes to estimates of China's growth rate, we could go with the local politburo propaganda which even China itself has admitted is goalseeked worthless drivel fit "only for reference", or we could listen to a megacap CEO, who actually is on the ground and whose business model depends on accurately predicting the underlying economic reality of the world's biggest nation.