By: Chris Mullen, Gold-Seeker.com - 16 November, 2007
Gold traded modestly higher in Asia and London and surged to find a nearly $10 gain at $797.50 by midmorning in New York, but it then fell back off for most of the rest of trade and ended with a loss of 0.04%. Silver dropped to $14.347 by late trade in Asia before it rose in London and New York to find over 2% gains at as high as $14.717 by midmorning, but it also fell back off into the close and ended with a gain of just 0.07%. Full Story
I would call this week’s fall in gold and silver a technical correction and nothing else and is the next best thing to have happened for a sustainable long term bull rally. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 November, 2007
Gold rose to find about $5 gains around $817 in early trade in Asia, but it then steadily fell off throughout trade in London and New York and dropped to as low as $782.35 by early afternoon before it bounced back higher into the close and ended with a notable loss of 3.29%. Silver followed a similar pattern and plunged to as low as $14.30 before it also rebounded slightly in the last hour of trade, but it still ended with a loss of 3.80%. Full Story
The fever pitch about the slump of the dollar, the exaltation of gold, and the global woes about $100+ crude oil struck a chord late last week. That little note sounded a lot like 'cha ching,' as traders banked profits on long gold positions and short dollar trades. Full Story
THE SPOT GOLD PRICE failed to hold onto its overnight gains early on Thursday, dropping back to bounce off $802 per ounce after recording an AM Fix in London of $806. Full Story
Gold is well supported near the recent double lows at $790 per ounce and below that at the 50 day moving average at $767. Unless there is a sharp sell off in oil and a sharp sustained rally in the dollar, gold is unlikely to suffer a sharp sell off and will remain strong and may challenge recent highs in the near term. Full Story
Next week is the Thanksgiving week. US retail shopping during thanksgiving will be important and if the US retailers shop till they drop, the US dollar might well gain in the short term. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 November, 2007
Gold steadily rose in Asia and London and climbed to as high as $815.15 by midmorning in New York before it fell back under $810 by late morning, but it then rallied back higher in the last two hours of trade and ended near its session high with a gain of 1.93%. Silver followed a similar pattern and made a high of $15.102 before it closed with a gain of 3.02%. Full Story
The smart money is the first to enter the nascent bull market and then the institutional money in the early part of the second phase of the bull market. This is where we are now. The final phase will see mass participation and mania in the bull market and that is likely to be seen between 2012 and 2020. Full Story
SPOT GOLD PRICE reached their highest level in two days above $812 per ounce late Wednesday morning in London, regaining $17 from Tuesday's low as energy costs surged and government bonds were sold off. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 November, 2007
Gold continued yesterday’s fall in after hours access trade and dropped to as low as $790.10 by early trade in Asia before it rallied back to $808.70 by the end of trade in Hong Kong. After that it waffled on either side of unchanged in London and early morning New York trade ahead of a late morning drop to $793.75, but it then came off that low in afternoon trade and ended with a loss of 1.10%. Full Story
SPOT GOLD PRICES bounced 1.6% from their overnight low on Tuesday morning, reversing one-third of Monday's $41 plunge to hold above $800 per ounce. Full Story
In Asian and European trading gold is down to $803.50 per ounce at 1100 GMT. Profit taking, a fall in oil prices and tentative dollar strength are likely the primary reasons behind this much anticipated correction. Support is near yesterday's low at $790 per ounce and below that at the 50 day moving average at $765. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 November, 2007
Gold fell all the way to $797.12 before it rebounded about 1% into the close, but it still ended with a loss of 3.15%. Silver dropped to as low as $14.51 before it rebounded over 20 cents from that low, but it still ended with a loss of 4.84%. At the time of writing, both metals are down about 2% more in after hours access trade. Full Story
In Asian and European trading both have sold off and gold is down to $815 per ounce at 1230 GMT. Profit taking, a fall in oil prices and tentative dollar strength are likely the primary reasons behind this much anticipated correction. Gold will likely find good support at the psychological level of $800 per ounce. Full Story
SPOT GOLD PRICES fell sharply in early trade on Monday, retreating more than $19 per ounce from Friday's all-time record closing high as global equities continued to drop and the Japanese Yen spiked violently on the currency market. Full Story
The US dollar dumping is here to stay. As a foreign exchange consultant we are advising clients not to bill their exports in US dollars-Indian rupee, instead go for euro. Sterling or the Canadian dollar which have not gained much against the Indian rupee. Full Story
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