Ian Campbell taught English at the Université de Poitiers before studying economics. He was Chief Economist, Emerging Markets at ABN AMRO Bank, Head of Latin American Research at BancBoston Securities and Regional Director, Latin America at the Economist Intelligence Unit. Since becoming a journalist in 2000 he has written for The Washington Post, The Times, The Independent, The Economist, The Globe and Mail, The Chicago Tribune, The New Statesman and other publications. From 2000 to 2003 he was Economics Correspondent for the UPI press agency. He has recently returned to the UK, where he is writing a book on rural Mexico.
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The yellow metal recovered from an April plunge, but the price is now slipping. New figures show why. While jewellery demand rose by 12 percent in the first quarter, investment demand fell by half. Funds are selling. Physical gold sales may follow, bringing big price falls.
The outgoing governor of the Bank of England was asked to compare the UK to a football team: relegation or one of Europe’s elite? Mervyn King dodged the question, but modest recovery is enough to make the UK a strong contender in a poor European league. King can claim some credit.
Relentless quantitative easing is driving markets to extremes. Central banks want more GDP growth, but they also get high oil prices, hurting consumers. They also get markets which rely on more money - and which could tumble when a stronger economy ends the QE binge.
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- Get ready for three-digit gold
- UK's growth supports Osborne's austerity plan
- New groat plan could suit an independent Scotland
- Gold is the canary in the financial mine
- UK revival policy has avoided Thatcher's mistakes
- Gold teeters on edge of bigger falls