By: Chris Mullen, Gold-Seeker.com - 20 February, 2009
Gold and silver remained near unchanged at about $970 and $14 in Asia and then screamed higher in London to as high as $998.92 and $14.56 by about 9AM EST before they retraced to about $990 and $14.40 in later morning New York trade, but they then rallied to new session highs of $1006.07 and $14.607 in the last couple of hours of trade and gold ended with a gain of 2.52% while silver topped that performance with a gain of 3.43%. Full Story
Retail investors have realised that gold offers an effective hedge against depreciating currencies and sharp currency movements, is an effective inflation and deflation hedge, and is a proven safe haven in times of financial turbulence. The main drivers of interest in gold investment remain the same: unprecedented macroeconomic and systemic risk and money prininting on a scale never seen before. Full Story
THE PRICE OF SPOT GOLD jumped Friday morning in London, touching $996.50 per ounce and nearing its ninth weekly gain in 3 months as world stock markets slumped yet again. Recording the highest London Gold Fix since 19th March '08 – the day after gold hit all-time highs at $1,032 on the collapse of Bear Stearns – gold surged $15 an ounce in two hours. Full Story
Gold has rallied strongly again this morning and is up 1.5% at $990/oz after consolidating around the $975/oz mark yesterday. Stock markets are under severe pressure again this morning after yesterday’s 7 year low close for the Dow Jones. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 February, 2009
Gold fell as much as $9 to $968.10 by late trade in Asia before it rose in London to see a gain of $5.85 at $982.95 by about 8:30AM EST, but it then mostly chopped back lower in New York and ended with a slight loss of 0.25%. Silver saw slight gains in Asia, but it then fell back off for most of trade in London and New York and ended near its low of $13.86 with a loss of 2.3%. Full Story
SPOT GOLD in US DOLLARS slipped back from a near 11-month high early in London on Thursday, bouncing off $970 an ounce as world stock markets held flat, down almost 5% for the week so far. A surge in after-hours trade overnight saw the Gold Price in Dollars come within a few cents of mid-July's top above $987 an ounce. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 February, 2009
Gold traded mostly slightly higher in Asia and London before it fell as much as $6.50 to $960.40 by about 9AM EST in early New York trade, but it then rallied back higher for the rest of the day and ended near its high of $977.77 with a gain of 1.05%. Silver rose 34 cents to $14.34 in Asia before it fell back to unchanged at $14.00 a little before 8AM EST in London, but it then rallied back higher in New York and touched $14.34 again before closing with a gain of 2.25%. Both metals have also added to their gains in after hours access trade. Full Story
THE US-DOLLAR PRICE of gold retouched yesterday's 7-month high at $974 an ounce early Wednesday before slipping as Wall Street stock futures pointed higher from their 16% plunge of the last 7 weeks. Full Story
Increasing fears of a global recession and possibly even a depression, saw gold rise another 3.2% (silver was up 4.5%) on increasing international safe haven demand. Markets participants are realizing that while sharp deflation is the challenge today, in a few months we may be confronted with an even greater challenge in the form of stagflation and possibly even mild hyperinflation. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 February, 2009
Gold and silver traded mixed and near unchanged over the President’s Day holiday on Monday, but they then climbed steadily higher throughout trade in Asia, London, and New York on Tuesday and gold ended near its high of $974.02 with a gain of 2.84% while silver ended near its high of $14.212 with a gain of 2.71%. Full Story
THE PRICE OF GOLD jumped to a new 7-month high for US-Dollar investors during Asian and early London dealing on Tuesday, breaking above $965 an ounce as world stock markets slumped. Full Story
After another strong week last week (both gold and silver were up some 3%) despite falling stock markets, gold continues its outperformance of other asset classes due to safe haven demand. It has surged again overnight in Asia and it now at 7 month highs and looks very likely to target its record high of $1,000/oz in the coming days. Full Story
THE PRICE OF physical gold held in a tight $8 range early Monday, trading either side of $941 an ounce as world stock markets fell for the fifth session in six. Crude oil ticked lower from Friday's spike to $38 per barrel, while Opec members Qatar and Venezuela both said they want further output cuts. Full Story
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