Volatility has been very high in gold. Silver and other metals and energies volatility is high but not exceptional. Low risk traders should stay away from the markets and let things settle down. The storm has come, traders are waiting for more storms in the aftermath. There is a coordinated effort by all the central banks to cool down the financial storm. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 September, 2008
Gold rose to $892.97 in early Asian trade before it fell back near unchanged at $852 by the open in London, but it then chopped its way higher in London and New York, exploded to a new high of $916.90 in the last hour of trade, and closed with a gain of 5.49%. Silver traded between $12.54 and $11.69 in Asia and rose to a new high of $13.01 in London before it fell back off in morning New York trade, but it too surged back higher in the last hour of trade and closed with a gain of 9.25%. Full Story
THE PRICE OF PHYSICAL GOLD rose to $880 an ounce early Thursday – more than $100 above Wednesday's US opening – as world stock markets bounced on a "liquidity injection" of $242 billion from the big central banks, led by the Federal Reserve. Full Story
Gold surged by 8.9% to $847.30 (silver +10.6%) at the close in New York and continued to surge in electronic trading to over $870/oz. Asian trading saw the surge continue and gold traded as high as $893/oz. Gold subsequently fell prior to rising to some $870/oz as markets began trading in London. These are unprecedented movements and gold rose from a low of $780 to a high of $893 or more than 14% in less than 24 hours. Full Story
The rise in gold also reflects that the investor is not an idiot. The federal reserve bailing out AIG has not gone down well with the investors. Central banks tried to create a mirage of global financial stability which has now vanished. Reality bites and it is biting everyone. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 September, 2008
Gold and silver traded just slightly higher in Asia and London before they exploded higher in New York trade and ended at about their highs of the session with gains of 8.87% and 10.45%. Gold tallied its biggest one day dollar gain in history and silver notched its biggest percentage gain since 1995. Both metals have continued to gain in after hours access trade at the time of writing. Full Story
THE PRICE OF PHYSICAL GOLD stuck to non-Dollar currencies early Wednesday, holding in the middle of this week's range as the US nationalization of AIG – the world's largest insurance group – whipped world stock markets. Full Story
Gold's wealth preservation qualities are being felt with the precious metal remaining resilient despite volatility and sharp sell offs in many other markets. Gold is only marginally negative (some -1%) in the last month despite sharp falls in the majority of stock markets. Full Story
Protectionist policies followed by the Federal reserve will only speed up the long term collapse of paper assets. The current fall in commodities is a part of and parcel of a long term bull rally which can last for a few more months. If the Fed rescues AIG then the signals will be negative for long term inflows into US economy. Central banks diversification away from US dollars will only increase. Even the sovereign wealth funds (SWF) will be hesitant to invest in US dollar denominated assets. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 September, 2008
Gold rose to $6.55 to $789.80 and silver climbed $0.13 to $11.18 by midday in London, but both metals erased those gains at the New York open, remained near their lows for the rest of the day, and closed with losses of 0.7% and 5.2%. At the time of writing there has been little reaction to the fed’s decision in after hours access trade. Full Story
Gold has been underpinned by the collapse of Lehman Brothers and mounting systemic risks. Monday's sharp plunge in the stock market sent people scrambling for the shelter of safe-haven investments, including the yellow metal. Full Story
SPOT GOLD PRICES recovered an early 2.1% tumble on Tuesday, rising above $780 an ounce as Japan's Nikkei stock index closed almost 5% lower after Tokyo traders got back to work following a public holiday on Monday. Full Story
Some continue to incorrectly forecast further falls in the gold price due to the erroneous belief that gold is just another commodity akin to pork bellies and will be subject to demand destruction as the global economy sharply slows. They fail to realize the continuing importance of gold as a global monetary reserve (graphically illustrated by the Bundesbank in their recent statement on gold reserves), as a finite currency and as a safe haven asset as witnessed in the last year. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 September, 2008
Gold rose to $784.60 in early Asian trade before it fell back to see just a $2.60 gain at $763.85 near the New York open, but it then rallied back higher into the close and ended back near its early high with a gain of 2.89%. Silver rose to $11.21 and fell to $10.38 before it also rallied back higher into the close and ended with a gain of 2.98%. Full Story
Gold has been bolstered by safe-haven buying in the wake of this weekend's collapse of Lehman Brothers Holdings Inc. The dollar was sharply lower overseas on heightened concerns about the US banking system before paring losses in subsequent trading. Weaker oil prices have muted gold's rise to some degree. Full Story
SPOT GOLD PRICES jumped 2.6% at the Asian opening on Monday but drifted back to $770 an ounce as world stock markets sank and money fled into government bonds following the overnight demise of two Wall Street giants. Full Story
Gold and silver rallied Friday as the crisis on Wall Street deepened with gold up $17.80 to $759.80 and silver up 21 cents to $10.74. The rally continued in Asia overnight when gold surged more than $20 to over $785 before gradually giving up those gains in early trading in London. Gold's gains in Asia have been eroded as oil prices have fallen sharply (some 4%) and in extremely volatile trading the dollar has recovered sharply from steep overnight lows ( dollar has rallied 1.6% from 1.4478 to the euro to trade back up to 1.4250). Full Story
The US dollar weakened and precious metals rose after Lehman Brothers prepared to file for bankruptcy as Barclays Plc and Bank of America Corp. abandoned talks to buy the U.S. securities firm and Wall Street prepared for its possible liquidation. In 2008 precious metals have benefited from uncertainties in the global financial services sector and should rise for the rest of the week. Unless Lehman Brothers is nationalized by the US government gold and silver will continue to rise. Full Story
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