By: Chris Mullen, Gold-Seeker.com - 15 October, 2010
Gold jumped up to $1385.20 at about 8:20AM EST before it fell to as low as $1362.45 at around 10:30, but it then climbed back higher into the close and ended with a loss of just 0.44%. Silver fell to as low as $24.06 by midmorning in New York before it also rallied back higher and ended with a loss of just 0.74%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 October, 2010
The dollar has crossed the $1.41 to the euro line and is headed to $1.50. There hardly seems anything in its way for more substantial falls. How will the markets of the world react to a dollar somewhere between $1.50 and $1.70 to the euro? Full Story
Gold climbed to a record for a second day yesterday and silver extended its rally to a 30-year high as the dollar continued to fall in international markets. Competitive currency devaluations and talk of “currency wars” is leading to concerns about the dollar and indeed concerns of an international monetary crisis. Full Story
THE PRICE OF BOTH gold and silver bullion spiked sharply at the start of New York dealing on Friday, briefly nearing yesterday's record levels as Federal Reserve chairman Ben Bernanke spoke on monetary policy, and the US Dollar sank. Full Story
Traders and investors are aggressively pricing that the Federal Reserve will start another set of quantitative easing anytime soon. This is the only reason for commodities to rise. There is no other reason. Gains in the yen are further supporting gold and other commodities. Momentum has defied the technical and it’s better to trade with the technical using higher stop losses. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 October, 2010
Gold climbed to a new record high of $1386.93 in Asia before it fell back to almost unchanged at $1370.55 by about 9:30AM EST, but it then bounced back higher in the last four hours of trade and ended with a gain of 0.52% at a new record closing high. Silver surged to a new 30-year high of $24.893 in Asia before it fell back to $24.045 in early New York trade, but it also bounced back higher in late trade and ended with an impressive gain of 2.39%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 October, 2010
As the dollar continued to fall through $1.4 to the euro and is now aiming to go over $1.41 other currencies and precious metals are reflecting that fall. The gold price in Asia and London today raced up to $1,380 and silver to $24.50. This is another 1.5%, but it feels more in dollar terms. It has hardly moved from yesterday’s €980 level highlighting that this is all about the U.S. dollar. Full Story
THE WHOLESALE PRICE of gold and silver bullion retreated from fresh record highs against the Dollar early Thursday afternoon in London, slipping back from overnight jumps of 1.3% and 4.5% respectively as the US currency's latest plunge paused. Full Story
Gold rose to new record nominal highs and silver to 30 year nominal highs again this morning as the dollar weakened and there were renewed concerns that large banks may have to raise more capital. Gold's rise is not solely a dollar story with gold rising to near record nominal highs even in the safe haven currencies of the yen and Swiss franc. Gold rose to 112,537 yen an ounce in trading in London this morning, the highest price since June 28. Full Story
As long as the US dollar continues to weaken and stock markets rise then gold and other commodities will rise. There is nothing else I can comment on the markets today. So watch the US dollar and stocks. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 October, 2010
Gold rose about 1% by midday in London and jumped even higher in midmorning New York trade to a new record high of $1373.80 before it fell back off a bit in the last couple of hours of trade, but it still ended at a new record closing high with a gain of 1.74%. Silver climbed to a new 30-year high of $23.95 by early afternoon in New York and ended with a gain of 3.29%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 October, 2010
Asia pushed the price of gold up forcefully overnight taking it to $1,358 on Globex before it fixed in London at $1,358.50 this morning. Thereafter, in London it continued to attack the $1,360 level without breaching it, while the Swiss Franc, the Japanese Yen and the Euro continued to rise against the U.S. Dollar. Full Story
THE PRICE OF GOLD stalled $3 shy of last week's all-time Dollar record in London trade on Wednesday morning, peaking above $1361 an ounce as the US currency fell and global stock markets rose sharply. Full Story
Gold and silver continue to remain robust given the real concerns about the US, Eurozone and global economy. These concerns are creating doubt about the outlook for the dollar, the euro and other fiat currencies due to competitive currency devaluations and currency debasement. Gold has risen to near record nominal highs in British pounds (see chart below) and is less than 1% from a new high in dollars as the dollar has fallen again on QE2 concerns. Despite the recent rise in prices, physical demand remains robust especially in Vietnam, India and Asia. Full Story
It’s all about the US dollar and the Federal Reserve for commodities. The ability to hold over key supports suggests they can rise five percent hereon. Watch the US dollar carefully. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 October, 2010
Gold dipped as much as $12.50 to $1340.43 in Asia before it climbed back to almost unchanged at $1352.45 at around 8:50AM EST, but it then fell back off for most of the rest of trade and ended with a loss of 0.51%. Silver fell to $22.919 and rose to $23.258 before it also fell back off and ended with a loss of 0.69%. Both metals have roughly erased those losses in after hours access trade in reaction to the release of FOMC minutes. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 October, 2010
After Asia followed New York in taking the gold price down to $1,343 after the p.m. Fix of $1,351.5 London Fixed the price this morning at $1,343.5. After the Fix, it rose $1, waiting for New York’s influence ahead of the p.m. Fix. The main influence today is a small bounce in the dollar against the euro, now standing at $1.3809. Full Story
THE PRICE OF GOLD and silver rallied towards Friday's record-high closing levels in London on Tuesday lunchtime, bouncing after world stock markets and commodities had earlier fallen on reports that China is curbing new bank lending to cool its economy. Full Story
With the Federal Reserve soon to embark on QE2 and printing money and buying US bonds in a sizable way, possibly as soon as November, gold should be well supported when it does correct. As with all bull markets, gold is climbing a wall of worry with the public remaining unaware and (mainstream) media commentary sparse and skeptical. The primary trend remains up and short term pullbacks are to be expected. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 October, 2010
Gold climbed to over $1350 in Asia before it fell to see a $3.38 loss at $1340.22 by a little after 8:30AM EST, but it then rallied back higher for most of the rest of trade in New York and ended near its late session high of $1354.07 with a gain of 0.7% at a new record closing high. Silver dropped to as low as $23.022 by late morning in New York before it bounced back higher in the last couple of hours of trade and ended with a gain of 0.65% at a new 30-year closing high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 October, 2010
After Asia took the gold price up from New York’s close of $1,343 to $1,348, London Fixed at $1,348.5 this morning. In the euro gold is also recovering from its recent €956 and stands at €967. So gold is rising again in all currencies today. Just ahead of New York’s opening it did what it usually does and pullback slightly to $1,341 ahead of the afternoon Fix. Full Story
THE PRICE OF WHOLESALE gold bullion slipped 1% in London on Monday morning, falling to $1342 per ounce as the start of what traders expected to be a quiet New York session approached. Full Story
Leaders of the world economy failed to narrow differences over currencies as they turned to the International Monetary Fund to calm frictions that are already sparking protectionism. Exchange rates dominated the IMF’s annual meeting in Washington on concern that officials are relying on cheaper currencies to aid growth, risking retaliatory devaluations and trade barriers. Full Story
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