By: Chris Mullen, Gold-Seeker.com - 17 August, 2007
Gold rose about $4 in after hours trade yesterday before it dropped and traded near unchanged in Asia, but it then rose back to about $652 in London and added over $10 more to those gains in New York after the fed’s announcement. Gains pared a bit into the close, but gold still closed higher by 1.28%. Silver followed a similar pattern and gained 2.89%. Full Story
SPOT GOLD PRICES rose at the London opening on Friday, recovering the overnight bounce above $653 before slipping to $651.56 per ounce by lunchtime – a little more than 1% above Thursday's low. Full Story
Yesterday’s slide in gold and silver was another opportunity to invest. Precious metals and base metals were seen tracking the equity markets.The key driver for the financial markets have been the yen as it fell below 115.0 on continued liquidation by yen based traders. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 August, 2007
The unwinding of the yen carry trade made another huge move today. Traders that previously borrowed cheap yen to buy other higher yielding assets have been forced to sell those assets, which seems to be pretty much everything, and buy back their previously borrowed yen. The end result was a strengthening yen and weakening stocks, gold, oil, and other assets. Full Story
SPOT GOLD PRICES ticked lower during a torrid session for Asian and European stock markets early Thursday, avoiding the worst of the current sell-off in financial assets to record a Morning Fix of $664.15 per ounce in London. Full Story
We would concur with the World Gold Council said that worldwide financial turmoil will lead to safe haven buying of gold which will underpin the price going forward. This is likely when one considers gold's excellent performance over the medium to long term during stock market corrections and crashes. Full Story
At the moment it’s greater physical demand at lower levels which is preventing gold’s fall. What happens when physical demand vanishes and stock markets continue to fall. Gold will also fall and could break some of the key long term supports. This is one of the possible scenario in gold which in my view will not happen. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 August, 2007
Gold traded slightly lower in Asia and steadily fell in London to see a low of $661.70 by early trade in New York, but it then rocketed over 1% off its low between about 9:45 and 10:30AM EST and found a small gain before it got knocked back down and traded just under unchanged on the day for most of the rest of trade. It was, however, able to edge up at the close and ended with a gain of 0.01%. Silver dropped all the way to $12.30 before it soared about 3% off its low, but it also fell back off from its mid-session rebound and ended with a notable loss of 1.34%. Full Story
SPOT GOLD PRICES slipped $5 per ounce to $664 by lunchtime in London on Wednesday, losing 0.7% from Tuesday's US close. Global stock markets, meantime, fell a further 0.9% according to the MSCI index. Full Story
Gold's decline for a third day may be due to the dollar's recent strength. The dollar has further strenghthened against the euro (1.3478 at 1200 GMT) and against sterling (1.9894 at 1200 GMT) . However, the long term fundamentals will likely reassert themselves before the end of August with the coming of the traditionally strong period for gold in the Autumn when physical demand is at it's strongest. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 August, 2007
Gold traded mostly slightly lower in Asia and London and then dipped to $665.30 at about 9AM EST in early New York trade before it spiked over $5 higher off that low in the next 35 minutes of trade to above $670, but it then fell back off to trade slightly lower again for the rest of the day and closed with a loss of 0.15%. Silver dropped to $12.65 before it spiked to above $12.80, but it also fell back off into the close and ended with a loss of 0.55%. Full Story
SPOT GOLD PRICES for immediate delivery were little moved against the US Dollar early on Tuesday, slipping 0.3% to record an AM Fix in London of $667.35 per ounce. But gold rose against all other major currencies besides the Japanese Yen, however, as European bourses struggled to recover after opening the day 0.5% lower. Full Story
Nervousness among gold and silver traders is being clearly reflected by the movement. They are unable to edge higher due to technical hurdles while at lower levels greater physical demand is preventing losses. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 August, 2007
Calm and stability returned to the markets today after last week’s volatility due to credit market worries as there were no new major announcements of fund closings or major subprime related losses over the weekend, though most agree that hidden problems remain and wild moves could return at any time. Full Story
Gold has traded sideways after last Fridays rally but 'safe haven' buying is again emerging. While the slight short term correlation seen in gold and the wider equity markets recently had lulled some into thinking gold's safe haven status had been diminished, this concept will likely be seen as erroneous in the coming weeks and months. Full Story
SPOT GOLD PRICES slipped against the US Dollar early Monday, opening the week in London just shy of last week's start around $671 per ounce as global equity markets rose in response to fresh injections of cash from the world's leading central banks. Full Story
Equities loss will be commodities gain as investors diversify. Investors have been bitten unlimited times in 2007 in equities which will result in gains for gold, silver and other precious metals this week. Full Story
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