By: Chris Mullen, Gold-Seeker.com - 18 April, 2008
Gold rose $6.80 to as high as $946.60 by early trade in London before it sharply sold off over the next few hours to as low as $904.65 by midmorning in New York, but it did end nearly 1% off that low with a loss of 2.95%. Silver rose 22 cents to $18.47 before it fell to as low as $17.357 by about 9AM EST in New York, but it rallied a full 43 cents from that low and ended with a loss of just 2.52%. Full Story
Gold is retreating into the range as equities rebounded on a spate of decent earnings news. The improved risk appetite is drawing capital back into the stock market, at the expense of commodities. Oil prices have retreated from the recent record highs and the dollar has rebounded as well, putting further pressure on the yellow metal. Full Story
SPOT GOLD PRICES dumped 3.4% to $912 per ounce in the first-half of London trade on Friday, falling to a five-session low of $916 per ounce as both commodity and bond prices fell, but European stock markets rose. Full Story
After a few days of rising prices, gold has sold off this morning but remains up for the week and looks set to have a higher weekly close which is important from a technical point of view. The slight rebound in the dollar (1.584 against the euro) and weakness in oil ($114.15) has led to some traders taking profits and making them reluctant to go long in the short term. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 April, 2008
Gold rose nearly 1% to $952.95 by early trade in London, but it then fell back off for most of the rest of trade and ended with a loss of 0.55%. Silver rose to $18.74 in London before it fell to as low as $18.145 by late morning in New York, but it then rallied over 10 cents from that low in the last couple of hours of trade and ended with a loss of just 0.27%. Full Story
Gold has exceeded the halfway-back point of the recent corrective decline, returning additional credence to the underlying uptrend. While a softer intraday tone has emerged on the back of a modest bounce in the dollar, the twin interlocked themes of firm oil and a weak dollar should continue to underpin the yellow metal. Full Story
SPOT GOLD PRICES for physical delivery reached a four-week high Thursday morning in London, recording an AM Fix of $951.50 per ounce as investors and trade swapped the fast-fading US Dollar for anything and everything bar the Japanese Yen. Full Story
It is déjà vu in the markets again today with the dollar falling to new record lows against the euro and oil surging to new record highs above $115 per barrel and gold challenging resistance at $950 per ounce. Resistance at $950 is being challenged as we predicted and a close above $950 could see us soon rechallenge the $1,000 sooner than analysts expect. Full Story
By: Chintan Karnani, Insignia Consultants - 17 April, 2008
It’s all about the US dollar in metals and energies. Metals and energies are being dictated by the movement in the US dollar and not by fundamentals. As long as the US dollar continues to fall metals and energies will trade with a firm bias. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 April, 2008
Gold fell to $924.15 in early Asian trade before it rose throughout most of the rest of trade in London and New York and ended near its high of $948.90 with a gain of 1.81%. Silver fell to $17.763 in Asia and rose to $18.51 by late morning in New York before it fell over 1% from that high in the last couple of hours of trade, but it still ended with an impressive gain of 2.81%. Full Story
THE SPOT PRICE OF GOLD jumped to a three-week high early Wednesday after European and US inflation data sent traders scurrying for hard assets and the Euro single currency shot to new record highs vs. the Dollar. Full Story
More evidence of slowing economic growth and rising inflation was seen in EU data showing annual inflation across the euro zone hit an all-time peak in March. Inflation in the euro zone reached an annual rate of 3.6% in March, the highest since the launch of the euro in 1999. Full Story
By: Chintan Karnani, Insignia Consultants - 16 April, 2008
The US dollar should depreciate further and euro should gain against the US dollar over the coming weeks. The prime reason is the focus of the two central banks. Federal Reserve is focused on growth while the European central bank on controlling inflation. The lagging affects of US slowdown/recession will affect Eurozone growth over the coming months, but may not necessary result in ECB cutting interest rates. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 April, 2008
Gold rose over $10 to as high as $936.40 by midday in London before it fell back near unchanged at as low as $926.05 by late morning in New York, but it then rallied a couple of dollars higher into the close and ended with a gain of 0.29%. Silver rose to as high as $18.04 in Asia before it fell to as low as $17.67 by midmorning in New York, but it also rallied back higher into the close and ended with a gain of 0.17%. Full Story
THE SPOT PRICE OF GOLD rose to a four-session high in Asian and London trade on Tuesday, gaining almost 1% overnight as world stock markets crept higher and US bond prices rose. Full Story
With the dollar remaining weak (despite the G7 talk) and oil again closing at new record highs yesterday and surging to a near record price today (above $113.00), gold’s role as hedge against inflation will likely see it supported at $900 and again challenge resistance at $950 in the coming days. Full Story
By: Chintan Karnani, Insignia Consultants - 15 April, 2008
The G7 meeting has failed to stop the US dollar’s slide despite concerns over the same. Traders are looking at the growth differential between US and other countries before investing. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 April, 2008
Gold fell to $914.10 in Asia and rose to $931.82 by about 10:30AM EST in New York before it fell back off a bit in the last few hours of trade, but it still ended with a gain of 0.17%. Silver fell to $17.245 and rose to $17.87 before it closed with a gain of 0.57%. Full Story
Gold is modestly higher within the recent range as early dollar gains prove unsustainable. With further bad news expected out of the financial sector this week and oil just off its record highs, the downside in the yellow metal remains limited and scope is seen for a short-term recovery into the 950/970 zone. Full Story
Gold is stronger as the dollar has weakened despite leaders of the G7 and IMF governing council saying they would do all in their powers to provide market stability. Continuing worries about the health of the international financial sector has led to declines in stock markets internationally and renewed risk aversion. Full Story
FOUR WEEKS AFTER Gold's peak of $1,034 per ounce, the Gold Price recovered a 1.1% drop early Monday as the US Dollar failed to hold onto a sharp bounce following this weekend's meeting of G7 finance ministers in Washington. Full Story
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