The key theme this week for financial markets was Europe and its problems and nothing else. Centrals are also concerned whether Eurozone crisis will affect their economies and by how much. As result the ultra loose monetary policy continues and there is no sight of liquidity reduction measures in the short term. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 June, 2010
Gold is at a new record high at $1,260 having broken up out of resistance at $1,250. The air is resistance-free up here. We are getting to the point where it is not a matter of how high it will go, but why is it going there? We have to understand the financial demand for gold now [Which is where the Gold Forecaster specializes and discusses in all issues]. Full Story
THE PRICE OF GOLD jumped to new record highs for Dollar investors on Friday morning, peeping through the "resistance" identified by several bank analysts at last week's peak of $1254 an ounce. Full Story
Gold climbed to as high as $1250.80 (just shy of its all time intraday record high of $1251.68 set this past June 8th) by early afternoon in New York before it fell back off a bit in the last hour of trade, but it still made a new record closing high and ended with a gain of 1.43%. Silver climbed to as high as $18.86 by about 9:20AM EST before it pared its gains a bit, but it still ended with a gain of 1.68%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 June, 2010
So far this week the gold and silver markets have exuded strength and restraint at the same time. Large, limit restrained buyers are visible in the market keen to buy but not change prices. Full Story
THE PRICE OF both gold and silver jumped against the Dollar on Thursday, rising as world stock markets gained and the US currency dropped to a 3-week low against the Euro. Full Story
Gold and silver fell marginally yesterday in lacklustre trade on thin volumes. Gold appears to be consolidating above $1,200/oz and support can be seen at $1,177/oz and $1,145/oz (see chart below). As ever in the short term anything could happen but given the continuing degree of sovereign risk, gold is more likely to move higher than lower in the medium term and $1,300/oz remains possible over the summer despite the traditionally negative season. Full Story
Gold traded mostly slightly higher in Asia and London and rose to as high as $1237.63 around the open of trade in New York, but it then chopped its way back lower into the close and ended near its early afternoon low of $1226.93 with a loss of 0.22%. Silver climbed to as high as $18.65 in Asia and fell to as low as $18.37 in late morning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.7%. Full Story
THE PRICE OF GOLD eased back from an early 1-week high vs. the Dollar on Wednesday, trading 0.8% higher from yesterday's London Gold Fix as a rise in Japanese equities failed to spur European stock markets. Full Story
Gold waffled near unchanged in Asia and saw only slight gains in London, but it then surged higher in late morning New York trade and ended near its early afternoon high of $1234.95 with a gain of 0.76%. Silver climbed to as high as $18.67 by early afternoon in New York before it fell back off a bit in the last hour of trade, but it still ended with a gain of 1.03%. Full Story
THE PRICE OF WHOLESALE BULLION for Dollar investor wanting to buy gold early Tuesday edged up to $1226 an ounce as stocks, commodities and currencies were also little changed. Full Story
Gold fell $5.40 in US trading yesterday to close at $1,222.70/oz and fell to €999.00/oz as the euro strengthened against the dollar. Gold has traded in a very tight range between $1,220/oz and $1,225/oz in Asian and early European trading. Silver rose yesterday and has is outperforming gold again today. Full Story
Gold rose as much as $5.85 to $1233.95 in Asia and then fell back off in London and New York to as low as $1216.45 by late morning before it rallied back higher in the last couple of hours of trade, but it still ended with a loss of 0.44%. Silver followed a very different pattern and rose to as high as $18.541 by about 9:35AM EST before it fell back off into the close, but it still ended with a gain of 0.66%. Full Story
THE PRICE OF GOLD in wholesale trading edged lower as the US Dollar also slipped early Monday in London, reversing a 0.5% rise in Asian trade as world stock markets rose with commodity prices. Full Story
Gold rallied on the open in Asia and has maintained those gains in early trading in Europe as the dollar has. Last week's all time higher weekly close was important technically and means that gold's technicals remain strong after its recent weekly and monthly (May) higher closes. Indeed, momentum traders and those making "the trend their friend" could push gold to new (nominal) highs in the coming days. Full Story
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