Japan, the U.S., the Swiss, Canada, et al, all want lower exchange rates for their currencies in their national interests. Rising exchange rates hurt exporters. But we have to understand that nobody really cares about the global economy except where they benefit from it. Nations care about their own people only. Hence, there are no principles that govern exchange rates. Essentially the Eurozone has ‘fixed’ the exchange rate by having the one currency and there the strains were made clearly apparent. Full Story
By: Jason Hamlin, Gold Stock Bull - 17 September, 2010
Gold fever is converting an increasing number of mainstream investors into gold bugs. Newbies who were fortunate enough to buy gold at any point during this year are no doubt celebrating their gains. And many are looking to take profits now that gold has made another record (nominal) high at $1,279. After all, the gold price has enjoyed an advance of nearly $100 during the past month and we are probably facing some profit taking and correction, right? Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 September, 2010
Gold is holding a Dollar below the level of the morning record Fix of yesterday after a quiet Asia overnight. Some profit taking was seen in the SPDR gold E.T.F. of around 4 tonnes, but we believe that such traders will be back on new bad news. Full Story
THE PRICE OF GOLD jumped once again for Dollar investors on Thursday, hitting fresh record highs at $1278 an ounce as world stock markets slipped – and government bonds rose – ahead of key US inflation data. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 September, 2010
Gold saw a slight gain at $1271.75 in Asia before it chopped back lower in London and New York to as low as $1262.97 by about 11:40AM EST and then bounced back higher into the close, but it still ended with a loss of 0.23%. Silver fell to as low as $20.295 by about 8:30AM EST and rose to as high as $20.61 by about 11AM before it fell back off into the close, but it still ended at a new 30 month high with a gain of 0.64%. Silver needs only to close above its March 5th 2008 mark of $20.64 before achieving a new 30 year closing high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 September, 2010
This morning the Japanese government began intervening in the foreign exchanges to lower the $: Yen rate of exchange. It has moved from Yen 82.87 to Yen 85.50 against the U.S. Dollar. This is folly, we believe. Full Story
THE PRICE OF GOLD in wholesale dealing held tight some $5 below yesterday's new Dollar high of $1275 an ounce in Asia and London on Wednesday, slipping back against all other major currencies bar the Japanese Yen, which fell on news that the Tokyo authorities are actively selling their own currency to depress its value. Full Story
The consolidation phase in gold is over as it yet again creates a new high and nears $1300. For me $1300 is nothing but a psychological level with $1500 as the ultimate price target. Low interest rates along very high liquidity levels will result in a continued rise in gold and other safe havens. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 September, 2010
Gold climbed almost 1% higher in Asia and London and surged even more in early New York trade to a new record intraday high at $1274.60 by about noon EST before it fell back off a bit into the close, but it still ended at a new all-time closing high with a gain of 1.95%. Silver climbed to as high as $20.492 before it also fell back off a bit in afternoon trade, but it still ended at a new 30 month high with a gain of 1.34%. Silver needs only to close above its March 5th 2008 mark of $20.64 before achieving a new 30 year closing high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 September, 2010
There is palpable anger in the U.S. over the current ‘peg’ of the Yuan against the Dollar. Despite promises that the Yuan will rise, it remains close to where it was before China commented on its impending rise. Accusations of currency manipulation are again about to be leveled at China. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 September, 2010
New York closed at $1,244 and Asia took the gold price up $10 overnight. London added little too this before New York opened Fixing at $1,253.25. As New York’s opening moved onto the horizon, gold moved up $3 more anticipating better demand in New York. Why did it move up overnight in Asia? Full Story
THE PRICE OF GOLD rose as the Euro fell from near 5-week highs to the Dollar and world stock markets also slipped early Tuesday. Rising to a four-session high of $1257 an ounce for US investors, the gold price in Euros jumped 1.5% from yesterday's low to touch €31,480 per kilo. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 September, 2010
Gold saw a modest gain at as high as $1248.00 in Asia before it fell back off in London to as low as $1240.92 by about 8:30AM EST and then rose to a new session high of $1248.88 in midmorning New York trade, but it then chopped back lower into the close and ended with a gain of just 0.06%. Silver soared to as high as $20.21 by about 10:30AM EST before it also fell back off a bit in the last few hours of trade, but it still ended at a new 30-month high with a gain of 1.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 September, 2010
New York and London saw the gold price sitting below $1,250 with Asia and London holding at that level over the weekend. The morning Fix in London today was at $1,243.00. Full Story
THE PRICE OF GOLD in professional, wholesale dealing reversed an earlier 0.4% drop for Dollar investors as London trade drew to a close on Monday, rising back above $1247 an ounce – but staying lower vs. non-US currencies – as world stock markets rose and government bonds slipped. Full Story
The continued rise in the Chinese economy resulted in base metals and energies opening higher today. There was speculation on Friday that China will raise interest rates over the weekend which did not happen. This resulted in short covering. Gold is supported by sovereign debt default concerns in the eurozone and the rest of the world. Full Story
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