By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 March, 2011
Overnight we saw Asian demand take the gold price from New York’s close at $1,404 to $1,411, before London steadily took it higher to Fix at $1,415.50 and €1,004.54 confirming that the gold price is recovering fast. The agreement by the G7 group of nations to intervene in the Yen by selling yen had the effect of taking it down to trade at Y81.46, the euro at $1.4089 and other leading currencies strong. Full Story
THE PRICE OF GOLD rose above $1418 per ounce late Friday in London, reversing the last of this week's 2.4% drop as crude oil fell and world stock markets rose again after Gaddafi regime in Libya announced an immediate ceasefire, prompted by the United Nations' "no fly zone" agreement overnight. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 March, 2011
Gold fell almost $10 to $1386.44 in Asia, but it then rallied back higher in London and New York and ended near its late morning high of $1404.90 with a gain of 0.58%. Silver fell over 2% to $33.67 in Asia before it also rallied back higher and saw a decent gain at $34.635 by late morning in New York, but it then fell back off in the last couple of hours of trade and ended with a loss of 0.46%. Full Story
REMEMBER Bear Stearns? You know, that quaint little investment bank which blew up 6 months before Lehmans and a full 12 months before quantitative easing began. Here's a reminder... You can see the exploding bank right there...that little spike just above $1000 per ounce in the gold price...three years ago to the very day. Full Story
THE PRICE OF GOLD prices stalled just above $1400 per ounce for the second day running on Thursday, as crude oil rose sharply amid the near-meltdown at Japan's Fukushima nuclear reactors. Major-economy government bonds slipped back as Western stock markets rallied. Japanese citizens reportedly joined the ex-pat exodus from Tokyo, 150 miles from the stricken plant. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 March, 2011
Gold climbed $13.10 to as high as $1406.20 by late morning in New York before it fell back off in the last couple of hours of trade, but it still ended with a gain of 0.21%. Silver climbed to as high as $35.04 before it also fell back off a bit in late trade, but it still ended with a gain of 0.76%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 March, 2011
Gold has started to recover at $1,400 and €1,001.93 at London’s opening and the U.S. dollar has fallen to $1.3977 and the Yen holding at Y80.81 for now. The morning Fix in London was at $1,398.50 and €1,002.37 and had moved up to trade at €1.006.56 and in the dollar $1,403.40 before dropping $2 just ahead of New York’s opening. Full Story
THE PRICE OF GOLD rose in London trade on Wednesday to regain $1400 per ounce as a rally in Japanese shares failed to prevent further losses in global stock markets. With 450,000 people now homeless in freezing conditions, technicians at the stricken Fukushima nuclear plant were forced to abandon their work by a jump in radiation levels. 150 miles away, Russia joined France in moving to evacuate its embassy staff. Full Story
Markets have recovered somewhat from the recent sharp sell offs despite the worsening nuclear situation in Japan. Gold and silver have made very tentative gains from the falls seen yesterday as commodity and equity markets (and the Nikkei in particular) have stabilised somewhat after the recent sharp falls. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 March, 2011
Gold fell all the way to $1381.24 by about 8:30AM EST before it bounced back higher in New York, but it still ended with a loss of 2.22%. Silver dropped to as low as $33.577 before it also rallied back higher, but it still ended with a loss of 4.71%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 March, 2011
Gold has fallen to $1,389 and €996.08 after a Fix of $1,407.00 and €1,013.40 ahead of New York’s opening. New York saw the bottom and at the time of writing has taken it back up to $1,397 and to €1,001. The dollar has fallen to $1.3944 to the euro and looks as though it has lost support too. The falling dollar and in the days to come the falling Yen may be weak and disturbing features of the market, benefitting gold and silver. Full Story
THE PRICE OF GOLD fell 3% against a rising US Dollar on Tuesday morning, bouncing from a 4-week low of $1384 per ounce as world stock-market and commodity prices sank on news of radiation leaks from Japan's earthquake-hit nuclear plants. Full Story
Japan's nuclear crisis has deepened and we deeply regret to say that there is now the real possibility of a nuclear catastrophe. Investor panic has set in with the Nikkei down over 16.5% in two days and the Topic index down by 17% - its worst two-day loss since the 1987 Wall Street stock market crash. Full Story
Base metals have reacted to Japanese quake news by falling. The key reason is that demand will be less from the quake region as companies shut plants. Lots of base metals scrap will come out in the market once the region is cleared. This will initially result in higher supplies. BUT the reconstruction will require lot and lots of copper, zinc, steel, nickel and other base metals. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 March, 2011
Gold rose $9.40 to as high as $1430.40 at around 10AM EST before it fell back to almost unchanged in the next hour of trade, but it then bounced back higher in the last couple of hours of trade and ended with a gain of 0.27%. Silver jumped up to as high as $36.245 in midmorning New York trade, but it then chopped back lower into the close and ended with a loss of 0.28%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 March, 2011
After the awful tragedy in Japan placed doubts on Japan’s financial future some media reports said the gold rose on the back of that. We could not disagree more. In the euro London opened up at close to closing levels on Friday in the euro. As the dollar continued to weaken the gold price appeared to rise to $1,424 up from $1,417 on Friday, but this was entirely due to a weaker U.S. dollar. Full Story
THE PRICE OF GOLD leapt at the start of Asian trade on Monday, gaining 1% as engineers in Japan fought a third potential meltdown at nuclear reactors hit by last week's catastrophic tsunami. With at least 10,000 people thought dead, the Nikkei stock index shed more than 6% and the Bank of Japan offered a one-day record of ¥15 trillion ($184bn) to the Tokyo money market. Full Story
The world is still coming to terms with the terrible tragedy in Japan. A second explosion at the Fukushima nuclear reactor overnight and Pentagon reports of radiation being detected 60 miles away from the reactor suggest widening nuclear contamination leading to concerns of a nuclear catastrophe. Full Story
GOLD: Gold will break from the 20700-21200 range this week and form a new range. SILVER: Silver needs to trade over 54800 for the whole week to be in bullish zone. It should be another volatile week. Full Story
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