By: Chris Mullen, Gold-Seeker.com - 19 December, 2008
Gold dropped almost $30 to as low as $829.30 by a little before 8AM EST before it rebounded in New York, but it still ended with a loss of 2.7%. Silver fell all the way to $10.538 before it also rebounded in New York, but it still ended with a loss of 2.7%. Full Story
THE SPOT PRICE of gold tumbled in Asia and London on Friday morning, sliding $42 from yesterday's top – and cutting this week's gains by four-fifths to 1.5% – as stock markets also sank despite fresh rate cuts from the world's No.3 central bank. Full Story
The volatility in currency markets is huge and the dollar has rebounded strongly in the last 24 hours (from over 1.47 to back to 1.40 ) which is putting pressure on gold as is the weakness in stock markets. However, the stock market weakness and very uncertain outlook for 2009 will lead to further safe haven demand. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 December, 2008
Gold rose another $11 to $878.45 in early London trade before it fell off rather markedly in morning New York trade and dropped to as low as $848.65 by a little before noon EST, but it then rallied over $10 from that low in the last hour and a half of trade and ended with a loss of just 0.95%. Silver rose 5 cents to $11.46 in early London trade and dropped to as low as $10.972 in New York before it also bounced back higher in late trade, but it still ended with a loss of 2.54%. Full Story
Gold has retreated from the most recent attempt at new 9-week highs, weighed by continued losses in oil. Market action remains confined to yesterday's range thus far, but this leaves the 900.00 level protected for the time being. Full Story
SPOT WHOLESALE GOLD PRICES continued to rise early in London on Thursday, recording the best AM Gold Fix in 10 weeks as European stock markets stalled and government bonds leapt yet again, squashing UK gilt yields to new record lows. Full Story
Technically gold and silver are bullish. However one needs to be cautious while going long at higher prices. We prefer a buy on sharp dips strategy as long as key technical supports are holding. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 December, 2008
Gold and silver held only part of yesterday’s after hours post-fed gains in Asia and London before they rose markedly in New York to new highs of $880.85 and $11.57 by about 10:15AM EST and then fell back off a bit in the last few hours of trade, but they still ended with gains of 6.9% and 3.2%. Full Story
THE SPOT GOLD MARKET held inside a tight $10 range early Wednesday after jumping to a nine-week high of $860 per ounce overnight after the US Federal Reserve chose the nuclear-option of zero interest rates. Full Story
The Fed is sending a message that it will print money to an unlimited extent until it starts to see the economy expanding. This is very positive for gold and silver in the medium term to long term. The big question will be how long interest rates hover around zero in 2009. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 December, 2008
Both metals have soared past their earlier highs in after hours access trade in reaction to the fed’s statement. At the time of writing gold is over 2% higher from today’s close and has reached as high as $859.35 while silver is over 5% higher after hitting as high as $11.255. Full Story
THE PRICE OF WHOLESALE GOLD slipped lower early in London on Tuesday, recording the best Gold Fix in two months at $833.50 an ounce but trading 1% below Monday's top in the spot market. Tokyo stocks ended the day 1% down, while London shares held flat. The US Dollar regained one of yesterday's four-cent losses vs. the Euro. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 December, 2008
Gold rose over $10 to above $830 in Asia before it fell back near unchanged at as low as $820.75 by about 8:30AM EST, but it then surged to as high as $842.37 by late morning in New York and ended with a gain of 2.05%. Silver rose to over $10.40 in Asia before it dropped back to $10.24 around 10AM EST, but it also soared higher in late morning trade and ended near its high of $10.72 with a gain of 4.31%. Full Story
THE SPOT PRICE OF GOLD BULLION came within $1 of a new two-month high early Monday in London, holding onto last week's 9% jump and recording its best Morning Gold Fix since Oct. 16th for US investors. Full Story
More signs that gold is increasingly being viewed as the potential savior of central banks internationally from the global deflation gripping the world. The Federal Reserve is one of the largest holders of gold in the world with most of its foreign currency reserves in gold. A devaluation of the dollar and revaluation of gold may help the U.S. government and the Federal Reserve to protect their solvency and inflate their way out of a Depression. Full Story
Gold targets $866 and $900 in short term as long as $810 holds. A close over $840 today will result in $900 in the next fourteen days. It’s just a matter of time before silver breaks free and rises. Silver needs to break $1100 to target $1220 and $1476 in the short term. Till silver does not break $1100 it will trade in $1000-$1100 range. Full Story
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