By: Chris Mullen, Gold-Seeker.com - 16 November, 2012
Gold fell $8.21 to $1705.79 at about 6:20AM EST before it rallied back higher in New York, but it still ended with a loss of 0.12%. Silver slipped to as low as $32.057 and ended with a loss of 1.01%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 November, 2012
New York closed at $1,714 down $11. This morning, Asia and London dealers took it marginally lower to trade at $1,710 at London’s opening. It was Fixed at $1,710.00 down $13.50 and in the euro at €1,342.756 down €9 from yesterday while the euro was at €1: $1.2735. Ahead of New York’s opening gold was trying to slip lower $1,708.83 and in the euro at €1,341.73. Full Story
WHOLESALE gold bullion prices fell below $1710 an ounce Friday morning in London, dropping below that level for the second day in a row, as stocks, commodities and the Euro all fell and US Treasuries gained ahead of negotiations among US lawmakers about the so-called fiscal cliff. Full Story
Gold and silver have traded a bit lower on Friday and are both heading for a loss of 1% on the week in dollar terms. This is to be expected after the 3% and 5% returns of last week and the trading action this week has all the hallmarks of consolidation. Full Story
We need to look at the developments between Israel and Palestine seriously unlike other political events in the Middle East. Weekly unemployment claims from the USA suggest the hurricane effect but they are not as bad as anticipated by the markets. The Eurozone is nearing a recession but whether it will recover will be known only in December. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 November, 2012
Gold edged up to $1726.71 in Asia before it fell back to as low as $1705.57 in midmorning New York trade, but it then bounced back higher midday and ended with a loss of just 0.64%. Silver slipped to as low as $32.166 and ended with a loss of 0.15%. Full Story
THE DOLLAR gold price drifted lower to $1720 an ounce during Thursday morning's London session, around ten Dollars down on the week, as stocks and the Euro also drifted lower following the release of weak economic growth data from the Eurozone. Full Story
The World Gold Council issued a report “Global gold demand reflects challenging global economic climate: ETFs up 56% and India up 9% in Q3 2012” which showed that global gold demand fell 11% in the three months to September from record levels seen during the same period last year, which was curbed by a sluggish Chinese economy and stronger Indian demand limited the drop. Full Story
Gold will not rise by much if the US dollar remains firm and stock markets fall. Overall performance of gold and silver has been excellent after the US president elections in view of stock market bear shock which has been received by the investors. Physical demand as well as jewelry demand of gold and silver should fall now in India. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 November, 2012
Gold edged up to $1729.23 in Asia before it fell back to $1720.65 in London and then chopped up to as high as $1733.60 by about 2PM EST, but it then fell back off in the last couple of hours of trade and ended with a gain of just 0.03%. Silver slipped to $32.36 in London before it rose to as high as $32.908, but it then fell back off in late trade and ended with a gain of just 0.65%. Full Story
U.S. DOLLAR gold prices drifted lower to $1722 an ounce this morning in London, slightly down from last week's close, while stock markets also fell along with US Treasury bonds as US policymakers continue to discuss how to deal with the so-called fiscal cliff. "Gold is consolidating last week's strong up leg from $1673 to $1739," says the latest technical analysis from bullion dealer Scotiabank. Full Story
Gold inched up on Wednesday as the euro recovered against the U.S. dollar, and platinum ramped up its highest gain in the past three weeks on real concerns that supply will not meet the demand due to output issues because of the striking mine workers this year. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 November, 2012
Gold climbed up to $1730.92 at about 7AM EST before it dropped back to $1718.21 by a little after 9AM EST and then rallied to a new session high by late morning in New York, but it then fell back off again into the close and ended with a loss of 0.2%. Silver slipped to as low as $32.128 before it also jumped back higher in late morning New York trade and then fell back off into the close, but it still ended with a gain of 0.12%. Full Story
PRICE FOR gold bullion on the wholesale market rose to $1730 an ounce this morning in London, after drifting lower overnight, as the Euro jumped half-a-cent against the Dollar following a report that the German government is considering a plan to speed up the payment of bailout money to Greece. Full Story
Gold edged down on Tuesday on low volumes when the euro dropped to a 2 month low against the US dollar despite confusion about a deeper bailout package for Greece has driven many investors to wait on the sidelines. Eurozone finance ministers suggested that Athens should be given until 2022 to lower its debt to GDP ratio to 120% but IMF chief Christine Lagarde insisted the current target of 2020 should remain. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 November, 2012
Gold edged up to $1737.87 by a little after 8AM EST, but it then fell back off in New York trade and ended with a loss of 0.18%. Silver slipped to as low as $32.186 and ended with a loss of 0.49%. Full Story
SPOT MARKET gold prices hovered just below $1738 an ounce Monday morning in London, close to three-week highs, while stocks and commodities were broadly flat and the Euro traded near two-month lows against the Dollar, as the US and Greece both contemplated upcoming fiscal difficulties. Full Story
Gold is 0.25% higher this morning after posting the biggest weekly gain (+3.3%) since late August on safe haven buying driven by worries about the U.S. fiscal cliff and economy. President Obama is meeting with leaders this week and is expected to speak on the subject on Wednesday. $600 billion in tax increases and budget cuts are set to start in January which is making markets nervous and leading to diversification into gold. Full Story
Last week: Barack Obama has been reelected as US president and the stock markets have fallen thereafter. Gold and silver have risen on safe haven demand. The uncertainties on managing the US fiscal cliff needs to be addressed before the 31st December deadline. In 2011 gold prices rose to from $1480 to $1929 in less than five months on the delay in passing the US budget. If history is to repeat itself then any delay in addressing US fiscal issues then gold prices can rise to $2025 by the end of December or late January. Full Story
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