Gold and silver climbed higher in choppy fashion throughout world trade and ended near their session highs of $899.60 and $17.495 with impressive gains of 2.64% and 1.93%. A lower dollar, record high oil, and fears over war with Iran were just a few of today’s market movers to add to the ever present fundamental reasons for the metals to go higher. Full Story
Gold has pushed higher on growing concerns that we are entering a new phase in the credit crisis. A jump in platinum, along with rebounds in oil and the euro are all offering support to the yellow metal this morning. Full Story
THE PRICE of SPOT GOLD rose more than 1% in London's morning session on Friday, regaining last week's closing level of $888 per ounce as crude oil added to Thursday's record 5.4% jump. Full Story
It is difficult to fathom how anyone can construe negative real interest rates in the U.S, surging money supplies in the U.S. and internationally and printing presses in full effect globally as in any way gold bearish and shows massive myopia and or bias. Full Story
If the focus of global central banks shifts to managing inflation then short term global interest rates will rise. Gold and other inflation related investments will rise on this prospect. Full Story
Gold fell nearly 2% to $864.60 by about 8:30AM EST in New York before it rose to $878.70 by about 10AM and next fell back to about $869, but it then rallied back higher into the close and ended with a loss of just 0.87%. Silver dropped over 2% to $16.47 in early New York trade York before it rose to find about a 2% gain at $17.17 by 10AM and then fell back near unchanged to about $16.90, but it also rallied back higher into the close and ended with a gain of 1.48%. Full Story
Gold was back on the defensive earlier in overseas trading, weighed by additional dollar gains. However, downticks were met by buying interest ahead of support at 861.10/860.10 and the yellow metal recovered to trade higher on the day. Full Story
THE PRICE OF GOLD caught up with crude oil and the Euro at the London opening on Thursday, falling hard to a three-week low as the US Dollar continued to rally after losing 40% of its foreign exchange value over the last six years. Full Story
Gold continues to consolidate between $850 and $950 but the 200 day moving average at $875 and $850 looks like providing strong support given the prevailing macroeconomic climate and the ever important supply/demand fundamentals (see below). Full Story
The Indian government raised petrol, diesel and LPG prices yesterday. The rise in oil prices will not prevent Indian crude oil demand from falling as higher incomes offset the rise in prices. It will result in a rise in inflation and add duty cuts and it will result in an increase in the fiscal deficit. Full Story
Gold fell over $5 to $875.80 by late trade in Asia before it saw an over $3 gain at $885.40 by early trade in New York, but it then fell back off into the close and ended with a minor loss of 0.18%. Silver rose to find a slight gain at $16.81 by about 9AM EST in New York before it quickly fell over 1% to a new session low of $16.57 by about 10AM EST, but it then rallied back higher into the close and ended near its session high of $16.905 with a gain of 0.3%. Full Story
Gold is in the process of retracing yesterday's Bernanke inspired pullback, leaving last weeks low at 870.95 protected. In reality there wasn't much substance in Mr. Bernanke's comments, the market was just caught off guard by his direct reference to the dollar, a topic normally reserved for the Secretary of the Treasury. We suggested yesterday that dollar gains and gold losses were likely to be short-lived. Full Story
SPOT GOLD PRICES recovered one-third of yesterday's $18 plunge early Wednesday as crude oil slid to a three-week low and European equity markets dropped 2%, led lower by mining and banking stocks. Full Story
I am starting to enjoy the frankness of Fed chairman Ben Bernanke as he said that the Fed is paying close attention to the foreign exchange markets and the decline of the dollar, because of its implications for U.S. growth and inflation. Full Story
Gold rose slightly to $896.80 and silver climbed to $16.93 by late trade in Asia before both metals dropped in early New York trade to as low as $877.30 and $16.495 by about 9:30AM EST after Bernanke’s speech lifted the dollar, but the metals then rallied back higher into the close and ended with losses of just 1.3% and 0.3%. Full Story
Gold has retreated deeper into the recent range after failing to regain $900. Comments by Fed Chairman Bernanke, speaking in Barcelona, gave a boost to the dollar. This in turn sparked a downtick in the yellow metal. Full Story
SPOT GOLD PRICES slipped 0.5% as the US open drew near on Tuesday after touching yesterday's three-session high of $897 per ounce early in London. Full Story
The first trading day of June was very positive for gold and silver unlike the month of May where bears had taken charge. Economic data risk this week is preventing traders from going too short on precious metals. Full Story
Gold fell nearly 1% to $880.90 by late trade in Asia, but it then chopped its way higher in London and New York and ended near its high of $897.50 with a gain of 0.61%. Silver rose over 1% to $17.01 by early trade in London before it fell to see an over 1% loss at $16.57 by about 9:30AM EST in New York, but it then rallied back higher into the close and ended with a gain of 0.12%. Full Story
Gold's latest uptick within the range is approaching the $900 level once again. Consolidative activity in both the dollar and oil is helping keep the yellow metal well contained. Full Story
May has been the best month for the US dollar in 2008 against the major currencies. Crude oil prices were delinked from the US dollar and were unstoppable. The price of soft commodities like rice, wheat, soybean and maize seemed to have broken the gravitational force. Full Story
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