Gold rose a couple of dollars back above $650 in Asia before it fell back off in London and dropped to as low as $644.70 in early New York trade, but it then climbed higher for the rest of the day and ended near its high of the session with a gain of 0.66%. Silver dropped to $12.31 in early New York trade, but it then rose over 3% off its low to about $12.75 before it fell back off slightly in the last half hour of trade and ended with a gain of 1.61% Full Story
GOLD MOVED in a $4 range early Friday, reaching lunchtime in London little changed from Thursday's sell-off at $649.50 per ounce. "As the metal continually fails to make its mark above the 100-day moving average," says the latest technical analysis from Standard Bank in Johannesburg, "it should remain under pressure in the near term. Full Story
Gains in illiquid markets are never sustainable. Gold, silver crude oil as well as bond prices fell on profit taking. In a volumeless market a few big deals can change the direction for a few days but is not long lasting. Full Story
Gold traded roughly a dollar higher in world trade during the 4th of July U.S. holiday and then added a couple of dollars to its gains in London trade on Thursday before it plummeted over $10 in early New York trade to as low as $645.20 by about 10:30 AM EST, but it did rebound about 0.5% off its low in the last few hours of trade and ended with loss of just 0.74%. Silver dropped to as low as $12.36 before it also rebounded into the close, but it still ended with a loss of 1.03%. Full Story
SPOT GOLD PRICES moved gently higher against the US Dollar in London on Thursday, adding $2 per ounce from the overnight start in Asia to break $656 just before the US open. "People are reluctant to take new positions ahead of New York trade today after the Fourth of July holiday," reckoned Shuji Sugata at Mitsubishi Corp. Futures in Tokyo, to Bloomberg earlier. Full Story
7/7 is a historical day for gold as well. Gold August future rose to $430.10 only to fall to $418.10 on 15th July, 2005. Thereafter gold rose more than $200 to $732 on 12th May, 2006. Gold has been in secular bull run. Full Story
GOLD TRADED in a tight range during the first half of London trade on Wednesday, holding above Tuesday's US close at $653.50 per ounce. The Morning Fix came in at $654 per ounce, down $3.25 from Tuesday AM but more than $10 higher from a week ago. Full Story
Gold traded mostly slightly higher in Asia and London and then fell in midmorning New York trade to as low as $651.20 at one point before it rebounded slightly in afternoon trade, but it sill ended with a loss of 0.50%. Silver dropped to as low as $12.40 before it rebounded over 1% off its low and ended with a loss of 0.24%. Full Story
THE SPOT GOLD MARKET held flat throughout Asian and early London trade on Tuesday, moving just $1 off Monday's US close at $658 per ounce. "Gold prices look firm, with support from the Euro and oil prices," reckons Hiroyuki Kikukawa at Nihon Unicom Corp. in Tokyo. Full Story
Gold and silver benefited from US dollar bashing and unstoppable copper and crude oil prices. Technical break out in gold and silver further contributed to the rise. It’s more of a dollar decline story for gold and silver than anything else. Full Story
Gold jumped about $3 higher at the open in Asia before it fell back near unchanged a few hours into trade, but it then rose back above $650 in London, gained over 1% more in morning New York trade, and closed not far off its high with a gain of 1.36%. Silver jumped about 15 cents higher at the open in Asia before it added another 15 cents in New York and ended near its high with a gain of 2.44%. Full Story
SPOT GOLD PRICES rose towards a one-week high above $653 per ounce at lunchtime in London on Monday. Earlier in the morning, the AM Fix had come in at $650.50 per ounce – gold's lowest monthly start since January. Full Story
Over the weekend I was meeting my friends who are gold and silver traders in Multi Commodity Exchange of India (MCX). One thing they told me that they were unable to cope with the current volatility in gold and silver. Since all of them are positional traders they incurred losses as they were long in gold and silver. Full Story
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