Gold fell to $923.55 in London before it spiked up to $929.35 in reaction CPI data and then pared its gains slightly over the next hour of trade, but it soon rose to new highs in later morning New York trade and ended near its session high of $933.50 with a gain of 0.3%. Silver fell to its session low of $13.847 just after the 8:30AM release of the CPI data before it bounced back higher in midmorning New York trade and rose to see a decent gain of $0.122 at $14.167 by late morning, but it then fell back off into the close ended with a loss of 0.46%. Full Story
THE PRICE OF WHOLESALE GOLD held steady against most major currencies Friday AM, gaining for the second week running and nearing its best Dollar finish since late March at $928 an ounce. US stock-market futures pointed lower, meantime, as Consumer Price data showed a faster-than-forecast rate of inflation for April, up 1.9% year-on-year excluding fuel and food. Full Story
While the staggering pace of economic decline has certainly abated, individual economies and the global economy continues to deteriorate as recessions deepen internationally. All the talk of “green shoots” while understandable is the type of unrealistic wishful thinking and superficial analysis that helped lull investors into a false sense of security and get our financial and economic systems into the dreadful mess it is in today. Full Story
Gold traded mostly slightly lower in Asia and London and fell to its session low of $919.40 shortly after the open in New York, but it then steadily climbed back higher for most of the rest of trade and ended near its session high of $928.70 with a gain of 0.21%. Silver fell to as low as $13.76 in late Asian trade, but it then climbed back higher in London and New York and ended near its high of $14.11 with a gain of 0.25%. Full Story
The price of gold has risen roughly $25 per ounce over the past seven sessions, but the technical action remains fairly weak, especially the volume. Concerns about the recession have resurfaced, helping to temper the enthusiasm of inflation bulls. Full Story
THE SPOT PRICE of gold ticked $5 lower from yesterday's 6-week high early in London on Thursday, holding flat for non-Dollar investors as world equities fell and the US currency bounced on the forex market. Full Story
Gold has fallen somewhat in Asian and early European trading but still looks good from a technical perspective. A close above $932/oz should see us quickly target the $960/oz to $965/oz level which when breached should see us retesting the intra-day high of $1,006.30 reached on February 20th. Full Story
By: Chintan Karnani, Insignia Consultants - 14 May, 2009
The direct correlation between stock prices and base metals and energy prices continues. The drop in US April retail sales resulted in rise n safe havens and fall in base metals and energies. Yesterday I had mentioned in my daily report to be cautious while investing in commodities at higher prices and I was right. Full Story
Gold rose about 0.5% to over $928 in Asia before it fell in London to see a loss of $6.26 at $917.19 by about 8:30AM EST, but it then rallied back higher for most of the rest of trade in New York and ended near its high of $930.50 with a gain of 0.19%. Silver saw nearly 1% gains in Asia before it also fell back off in London and saw a loss of $0.345 at $13.885 around 9:30AM EST and next climbed back above $14.15 in late morning New York trade, but it then fell back off in the last couple of hours of trade and ended with a loss of 1.55%. Full Story
June gold futures closed slightly higher today, near even on the day despite a $13 trading range. After hours trading has seen prices inch up slightly but overall the market held up fairly well despite a sharp drop in US stocks. Full Story
THE PRICE OF PHYSICAL GOLD rose to its best level since April 1st in London trade on Wednesday, gaining 0.5% to $928 an ounce before slipping back on a bounce in the Dollar. Full Story
The deteriorating financial condition of Uncle Sam is a long term fiscal and economic challenge that should result in gold remaining in a bull market for the foreseeable future. Indeed, it means that the inflation adjusted high of $2,400/oz reached in 1980 (when the US fiscal situation was positively benign compared to today) is a more than plausible target in the coming years. Full Story
Gold traded mostly slightly lower in Asia and rose in London to as high as $922.80 by about the open in New York before it pared its gains by over half in midmorning trade, but it the shot back higher in the last few hours of trade and ended at its new high of the session with a gain of 1.19%. Silver also traded slightly lower in Asia and rose in London to as high as $14.33 by about the open in New York before it pared its gains a bit for most of the rest of the day, but it still ended with a gain of 2.3%. Full Story
Following three straight sessions of a narrow trading range, the gold market appears to gaining some bullish momentum to the upside today. Having broken the downward trend-line last week, the market has consolidated sideways, which caused some concern amongst bulls that the market did not have enough fresh buyers to move the market higher. Full Story
THE GOLD PRICE rose sharply for US investors in London on Tuesday morning, touching $922.50 an ounce as world stock markets held flat and the Dollar fell hard on the currency markets. Full Story
Gold and silver took a breather from their gains of last week and consolidated yesterday with marginal losses for both metals. The dollar recovered somewhat from its sharp falls of last week as did long term US interest rates (10-Year: 3.180% -0.113) but US stock markets came under pressure. Full Story
By: Chintan Karnani, Insignia Consultants - 12 May, 2009
European central bank president Jean-Claude Trichet signalled that the global downturn had bottomed out with some large economies already able to put the recession behind them and look forward to renewed growth. His comments had added weight because he was speaking on behalf of the world’s leading central bankers, not just for the eurozone. Not new comments as global financial markets have already factored in this view. Full Story
Gold and silver rose slightly in Asia to as high as $917.50 and $14.03 before they fell back off in London to as low as $908.90 and $13.67 by about 8:30AM EST in New York, but they then rallied back higher into the close and gold ended with a loss of just 0.22% while silver closed only 0.29% lower on the day. Full Story
THE PRICE OF GOLD ticked 0.7% lower early Monday, recording an AM Gold Fix in London at $912.50 per ounce as equities fell, government bonds rallied, and the US Dollar bounced one-cent from a seven-week low to the Euro. Full Story
Real and valid concerns regarding the emergence of competitive currency devaluations and inflation in the coming months will likely see all fiat currencies come under pressure. Gold remains very undervalued versus the dollar as it is still less than half its inflation adjusted high in 1980 of $2,400/oz. Full Story
By: Chintan Karnani, Insignia Consultants - 11 May, 2009
This is a new week. Traders and investors will now start to look at inflation numbers seriously from now on. The effect of super excess liquidity created by central banks to counter global recession by way of inflation will be taken by the investors with a pinch of salt. Full Story
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