SPOT GOLD BULLION rose further from yesterday's 5-week low early Friday in London, bouncing together with world stock markets after Washington pumped more than $1.3 trillion into the US financial and economic systems. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 January, 2009
Gold and silver traded mostly slightly higher in Asia and London and rose to see gains of 1.6% and 2.1% at as high as $821.40 and $10.66 by about 9AM EST in New York before both metals were then torpedoed to new session lows of $801.72 and $10.31 by about 12:45 EST to see losses of 0.84% and 1.2%, but gold rebounded to end with a loss of just 0.16% while silver bounced higher to close with a gain of 0.19%. Both metals have also climbed over 1% further from their closes in after hours access trade. Full Story
THE PRICE OF WHOLESALE GOLD BULLION was left little changed by the widely-anticipated cut to Eurozone interest rates Thursday, trading at $809 an ounce in London – and down more than 5% for the week so far – as global stock markets plunged yet again. Full Story
Gold is marginally higher today but has fallen to one month lows as markets await the ECB interest rate decision. The ECB is expected to cut by 0.5% today and that has put the euro and gold under pressure as the dollar has strengthened in recent days. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 January, 2009
Gold rose over 1% to $829.17 in Asia, but it then fell back off throughout most of trade in New York and ended near its low of $807.60 with a loss of 1.46%. Silver climbed over 2% to $10.89 in Asia before it dropped to as low as $10.33 by late morning in New York, but it then rebounded over 1% off that low in the last couple of hours of trade and ended with a loss of 2.06%. Full Story
SPOT GOLD PRICES ticked down from a two-day peak after the London Gold Fix on Wednesday morning, slipping to $823 an ounce as European stock markets slumped for the fifth session running. Crude oil pushed up to $39 per barrel – a level first breached in May 2004 – while government bond prices slipped lower worldwide, pushing the 10-year German bund yield back above 3.0%. Full Story
I have been bullish on gold in 2009. The reasons for my bullishness include (A) Depreciation in the purchasing power of US dollar and other paper currencies (B) Alternate investment theory (C) Demand – Supply fundamentals (D) Technical factors among others. Let’s now look at the negative factors affecting gold prices in 2009. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 January, 2009
Gold fell as much as $6.78 to $813.72 by midday in London before it rebounded in New York to see a gain of $10.20 at $830.70 around 10:15AM EST, but it then fell back off into the close and ended near unchanged on the day. Silver dropped as much as $0.30 to $10.42 around 9AM EST before it rebounded to see a gain of $0.115 at $10.835 by late morning in New York, but it also fell back off in the last couple hours of trade and ended with a loss of 0.56%. Full Story
THE PRICE OF GOLD BULLION let slip a 0.9% spike Tuesday lunchtime in London, struggling near a one-month low as world stock markets tumbled for the fourth session running. Both the US Dollar and Japanese rose yet again on the currency market, while crude oil fell back to $36.50 per barrel. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 January, 2009
Gold and silver remained near unchanged in Asia and London, but they then plummeted at the New York open, remained near their lows for the rest of trade, and gold closed about 0.5% off its low of $816.80 with a loss of 3.89% while silver closed at its low of the day with a loss of 4.88%. Full Story
THE PRICE OF GOLD sank ahead of the US opening on Monday, dropping $20 in 20 minutes of London trade to bounce off $825 an ounce. World stock markets also fell, while crude oil tumbled 5% to $38.85 per barrel. Full Story
There was significant volatility last week and such volatility often portends a big move up or down. Given the strong fundamentals, gold’s next move is likely to be up, especially as investment demand for gold coins, bars, certificates and exchange traded funds remains very robust. Full Story
Gold and silver have started the week on steady note while copper has risen. There is lack of major market moving news at the moment. The Israel – Hamas tension has not affected any of the commodities. This week we have the European central bank meeting where interest rates may be cut by a quarter of a percentage. It will be technical trade and gold and silver should break free from the recent consolidation phase. Full Story
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