By: Ian Cassel, Investor Voices LLC - 18 July, 2008
Gold Resource Corporation's objective is to create shareholder value by establishing production and generating superior financial performance through the development of gold and silver projects that feature low operating costs and produce high returns on capital. The Reid’s have been preaching “Not all Ounces are Created Equal” since Gold Resource Corp IPO’d at $1, almost two years ago. The company has continued to execute its strategy to near perfection especially in an imperfect industry such as Mining. Full Story
Gold is maintaining a corrective/consolidative short-term tone as the recent sharp pullback in oil continues to weigh. However, buying interest ahead of 950 has been good, leaving support at 946.35/935.30 well protected thus far. Full Story
THE SPOT PRICE OF GOLD dropped 1.3% at lunchtime in London on Friday, sliding into the US open – and heading for its first weekly loss in five – as world stock markets ticked higher. Full Story
Equity markets have bounced on what is likely to be another short term correction on massive short covering. Poor earnings from Google, Microsoft, Merrill and now Citigroup this morning should result in gold remaining well bid and support is at $950. Full Story
Gold and silver fell roughly 1% to $952.85 and $18.54 prior to 9AM EST and then rallied back higher and saw roughly 2% gains at as high as $978.90 and $19.14 by around lunch in New York before they fell back off into the close, but gold still ended with a gain of 0.84% while silver dropped to end with a loss of 0.27%. At the time of writing, both metals have fallen over 1% from their closes in after hours access trade. Full Story
Gold is under modest pressure, weighed by a rebound in global equities and continued weakness in oil. However, a soft dollar suggests that the downside for the yellow metal is limited. Full Story
SPOT GOLD PRICES fell back at lunchtime in London on Thursday, slipping 0.7% towards this week's low of $955 per ounce as Western stock markets continued to rally on falling oil prices. Full Story
Poor returns and volatility in equity markets internationally is leading to safe haven diversification into gold. With the outlook for equities and bonds looking increasingly uncertain (especially in the light of the onward march of inflation in the U.S. and internationally), gold is set to continue to outperform other major asset classes for the foreseeable future. Full Story
The US dollar – crude oil - gold relationship is dictating the metals markets. Base metals fell as Chinese demand remains low before the Olympics. Unless physical demand for gold, silver or any other metal rises along with the rise in prices, there will always be fear of a correction or a slide from the highs. Full Story
Gold and silver rose roughly 0.5% to $981.25 and $19.09 by about 9AM EST in New York before they fell to as low as $957.50 and $18.605 by a little after 11AM EST, but they then rallied back higher into the close and ended with losses of just 1.6% and 1.13%. Full Story
Gold has come under modest pressure as oil continues the slide that commenced on Tuesday. However, heightened concerns about the US economy, and the banking sector specifically, seem to be overriding any inflationary relief implied by weaker oil. Full Story
THE PRICE OF GOLD BULLION gave back an overnight rally of 0.8% late-morning in London on Wednesday, recording an AM Fix of $974 per ounce as European stock markets tumbled for the seventh time in 11 sessions. Full Story
Gold is a safe haven asset and the only asset class that is not someone else’s liability and this is why it is thriving in the current environment and will likely reach it’s inflation adjusted high of $2,300 per ounce in the coming 3 to 5 years. Full Story
Volatility in crude oil started to increase. Yesterday’s boom to bust of crude oil by $10 in less than ten minutes speaks for itself. In gold, silver and copper traders have gotten used to high volatility but crude oil is the new entrant. Managing volatility is the key. Full Story
Gold and silver remained near unchanged in Asia, rose roughly 1% in London, and climbed to as high as $988.17 and $19.45 by about 10AM EST in New York, but both metals next collapsed in late morning trade and dropped to $968.35 and $18.522 by a little before noon. Prices then rebounded in the last two hours of trade and gold ended with a gain of 0.49% while silver ended with a loss of 0.73%. Not too shabby considering that the dollar ended well off its lows and oil experienced its biggest one day dollar drop since 1991. Full Story
Gold is up sharply again, underpinned by heightened concerns about the US banking system, a decline in global equities and a sharp drop in the dollar. In a month normally associated with cyclical weakness, gold has extended recent gains to bring the $1,000 level back within striking distance. Last week's upside breakout of the range within the broader range bodes well for a retest of the all-time high at $1,032.20 (17-Mar). Full Story
THE SPOT PRICE OF GOLD jumped for the fifth session running in London on Tuesday, adding 1.2% against the US Dollar as crude oil broke back above $146 per barrel. Full Story
Gold has rallied again on dollar weakness, oil strength and safe haven demand due to macroeconomic and systemic risk. Macroeconomic in the form of the deepening financial and economic crisis and geopolitical risk in the form of continuing tensions between Israel and Iran. Full Story
Precious metals rose on uncertainties over the US economy. Gold, silver and other precious metals are benefiting from safe haven demand. US government supporting bankrupt companies has not gone down well with investors. Full Story
Gold fell over $5 to $953.40 and silver dropped over 1% to $18.496 by a little past 8AM EST after both metals had traded over 0.5% higher in earlier Asian trade, but they then rallied back higher throughout most of the rest of trade in New York and ended near their highs of $974.80 and $19.22 with gains of 1.41% and 2.22%. Full Story
As the dollar and equities continue to fall, gold will be increasingly attractive as an alternative asset and means of wealth preservation. Friday's breach of key resistance at 954.70/960.88 bodes well for renewed tests above $1,000. An eventual move to new all-time highs above 1032.20 (17-Mar high) would signal a resumption of the long-term uptrend, returning focus to the $1,200 objective. Full Story
THE SPOT PRICE OF GOLD slipped 1% against the US Dollar at the London opening on Monday, giving back one-third of Friday's $23 surge as crude oil dropped and government bond prices fell. Full Story
Both gold and silver were up nearly 3% last week on inflation hedging and safe haven buying and profit taking is to be expected. Gold and silver were up nearly 3% for the week and yet the dollar was only down some 1% and oil was essentially flat after a very volatile week. Full Story
This is one of the first and concrete signals for the common man that this is the beginning of the collapse of paper money and paper assets which will continue for the time being. There is a limit to which things can be suppressed. If you have still not invested in hard assets then you have missed an opportunity. There will be more opportunities over the coming weeks which one should utilize. Full Story
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