Gold saw a slight gain at $1209.25 in Asia before it fell off in London and early New York trade to as low as $1185.80 by a little after 10AM EST and then rebounded to $1193.08 shortly afterwards, but it ultimately fell back near its earlier low in the last few hours of trade and ended with a loss of 1.61%. Silver followed a similar pattern and ended near its midmorning low of $17.72 with a loss of 2.9%. Full Story
THE PRICE OF GOLD fell hard at the start of New York trading on Friday, dropping back to this week's early lows for Dollar buyers and hitting the lowest price since early May for Euro, Sterling and Aussie buyers while stock markets sank on weak US data. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 July, 2010
Asia was quiet overnight, leaving it to London to set the pace for the day. London held the price at opening levels to Fix at $1,204.75, with four banks buying and one selling. No wonder then that the gold price promptly traded the price to $1,206.2 as the U.S. Dollar continued its tumble. Full Story
Gold eked out small gains yesterday as the dollar fell sharply on concerns about the US economic outlook which the poor Google and JP Morgan results did not help. Gold continues to consolidate around the $1,200/oz level and since the start of July gold (in USD terms) remains in a tight range between $1,185 and $1,218/oz where there is a determined seller. Gold is currently trading at $1,206/oz, 930/oz and £785/oz. Full Story
The big question for next week will be whether the euro/usd is able to maintain its current uptrend or not and whether it is able to break past 1.3100 in July or not. At the moment gains in the euro/usd are due to massive short covering and nothing else and the euro/usd needs to trade over 1.2750 for the whole of July to maintain the current uptrend. Euro and stock markets will affect gold in the short term to medium term. Full Story
Gold saw decent gains in Asia and London and rose to as high as $1216.90 by about 9AM EST before it dropped all the way to $1203.70 a little after 10AM EST, but it then chopped its way back higher into the close and ended with a gain of 0.1%. Silver rose to $18.507 and fell to $18.157 before it also climbed back higher in the last few hours of trade and ended with a gain of 0.11%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 July, 2010
Asia came in stronger overnight and London held the price up to fix at $1,211.75 with three banks buying and two selling. When early New Yorkers started to deal, the price slipped back initially, before picking up at the open there. The trading range is very tight around $1,214 at the moment. This is against a backdrop of a falling Dollar [against several currencies] and a stabilizing Euro. Full Story
THE PRICE OF wholesale gold bullion and silver rose against the US Dollar on Thursday, nearing new highs for July at $12.15 and $18.50 an ounce respectively, but slipping in terms of other currencies as government bonds fell and commodities gained. Full Story
Gold continues to consolidate above the $1,200/oz level and traded in a range between $1,207/oz and $1,215/oz overnight in Asia. Gold has risen slightly in European trade as the dollar has come under pressure. The poor retail sales have created concerns about the health of the US consumer and the other poor recent data on jobs and trade and budget deficits may see the dollar come under pressure again. Support for gold is at $1,195/oz and resistance is at $1,217.90/oz. Full Story
Gold saw slight gains in late Asian trade and modest losses in London before it spiked higher in late morning New York action to as high as $1217.85 by about 11:30AM EST, but it then fell to a new session low of $1202.56 in the last couple of hours of trade and ended with a loss of 0.54%. Silver jumped to as high as $18.462 before it also dropped back off in late trade, but it still ended with a gain of 0.22%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 July, 2010
Asia held the gold price at its recent high of $1,214, before London opened. Londons first Fix was at $1,212.25. Three of the five banks were buyers and one neutral leaving only one seller at the Fix. All the deals at the Fix were done at that price. The gold price trading range has tightened markedly, pointing to an early resolution to the consolidation phase. Full Story
THE PRICE OF GOLD and silver bullion edged 0.7% below yesterday's two-week highs in London on Wednesday morning, trading at $1207 and $18.17 per ounce respectively as European stock markets fell for the first session in seven. Full Story
Gold rose 1.26% yesterday after the Portuguese debt downgrade; silver rose 2%. Gold has gradually edged up in Asian and early European trade. It may challenge resistance at yesterday's high of $1,217.90/oz but if it falls below the recent trading range of $1,210/oz to $1,215/oz it could quickly fall to short term support of $1,195/oz and $1,190/oz. Full Story
The Portugal debt rating downgrade by Moody resulted in gold and silver flaring up. But the euro also rose and the US dollar weakened. I do not understand the timing of the rating downgrade after the soccer world cup. There seems be vested interest and connivance with hedge funds and others and that the Portugal rating downgrade could have been leaked. Full Story
Gold rose in London to see an almost $20 gain at as high as $12.17.80 by about 9AM EST before it chopped its way back lower into the close, but it still ended with a gain of 1.26%. Silver climbed over 2% to as high as $18.325 by late morning in New York before it fell back off a bit in the last couple of hours of trade, but it still ended with a gain of 1.96%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 July, 2010
Asia began the day taking the gold price up $5, then London added $1.50 to Fix at $1,206.50. With the $ weakening slightly in many currencies, but not enough to influence gold New York was thought to start relatively slowly. But not so! Gold started to move with some vigor and took the gold price up $10 quickly. Full Story
THE PRICE OF GOLD rose on Tuesday morning in London trade, recovering all of Monday's 2.1% drop as new US trade data drove the Dollar lower, and world stock markets extended their week-long rise. Full Story
Gold spiked higher today in all currencies as Portugal's downgrading and prices below $1,200/oz led to buying. The euro fell against both the dollar and gold (from 954 to 960 per ounce - see chart) on Moody's two-notch downgrade of Portugal. Full Story
Gold fell to as low as $1195.95 by late morning in New York before it bounced back higher in the last couple of hours of trade, but it still ended with a loss of 0.93%. Silver dropped to as low as $17.756 before it also climbed back higher, but it still ended with a loss of 0.83%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 July, 2010
Gold in London this morning Fixed at $1,203.75 then in the afternoon at $1,205.5 with currencies virtually unchanged on the day. Gold is walking its own road. Once New York opened, the gold price fell below $1,200 implying that traders were trying to squash the price for Technical reasons. Full Story
THE SPOT PRICE of wholesale gold bullion slipped in Asian and early London trade on Monday, holding above $1200 an ounce and holding 1.4% above last Wednesday's 7-week low as world stock markets extended their four-session rise. Full Story
Gold is lower in Asian and early European trading on low volume as the dollar has risen and renewed risk appetite has resulted in tentative gains in equity markets. Gold's marginally higher weekly close last week was positive from a technical point of view and could lead to follow through this week as momentum following traders and funds "make the trend their friend". Full Story
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