JUST HOW MUCH ABUSE can soft money take? Two-thousand-and-eleven sees a big, but so far little-noted ruby anniversary. Expect to hear lots more about it as August 15th draws near. Full Story
The spot price of Uranium as reported by UXC.com, just hit $68/lb. It is up nearly 70% since June, but remains only half the level of its peak back in 2008. In the early phase of the commodity bull market, Uranium ran from $7/lb to $140/lb. Interest in uranium and the uranium stocks is picking up after a nearly 3-year long bear market. Uranium is an intriguing bet for 2011 and beyond because of the supply/demand situation and because of the value at the current price. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 January, 2011
Gold fell in both the euro and the dollar, Fixing in London at $1,344.00 down $20 on yesterday morning. In the euro it Fixed at €992.98 from yesterday’s €1,011.71. The euro stands at $1.3530 and looks strong enough to shake out the weak holders of gold. The dollar is steady against other ‘hard’ currencies. This is a continuation of the ‘relief recovery’ because the Eurozone is still intact. As New York opened the gold price was slightly easier at $1,343 and €993.6. Full Story
THE PRICE OF gold and silver continued to fall in Asian and London trade on Friday, dropping to fresh two-month lows even as the US Dollar slipped on the currency markets. By lunchtime in London – and compared with New Year 2011's near-record highs – the gold price in Dollars stood 6% lower, in Euros 7.5% down, and in British Pounds nearly 9% lower. Full Story
Gold is flat and silver marginally lower despite dollar weakness this morning. Some market participants are blaming the precious metal sell off on speculation that China may take more monetary action to curb surging inflation. This is unlikely to be the reason for the sharp selloff, rather it looks like another paper driven sell off in the futures market by leveraged players on Wall Street with various motives. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 January, 2011
Gold fell to as low as $1343.24 by about 10:30AM EST before it rebounded in the last few hours of trade, but it still ended with a loss of 1.72%. Silver fell to as low as $27.39 before it also rebounded, but it still ended with a loss of 4.68%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 January, 2011
Gold has turned down in both the euro and the dollar, Fixing in London at $1,364.50 and in the euro at €1,011.71. As the euro strengthens against most currencies, we see the dollar as holding its own against the other leading world currencies. After the fears of the past few weeks for the euro and the Eurozone, we are watching a relief recovery because the Eurozone is still intact. As New York opened the gold price fell further to $1,354.60 or €1,005.78. Full Story
WHOLESALE PRICES for large gold and silver bars both fell hard in London and early New York trading on Thursday, extending this month's 4% and 10% drops as world stock markets fell and the US Dollar rose. Full Story
Gold has fallen by 1.7% and silver by 4% as the US dollar has bounced from 2 month lows. Some are attributing the sell off to interest rate hikes in Brazil and the bounce in the dollar. However, it is more likely due to further selling by momentum-driven traders who see that the short term trend is down and they are sticking it to under pressure longs. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 January, 2011
Gold climbed $10.79 to $1378.99 by about 9AM EST before it fell back to almost unchanged at $1368.35 in late morning New York trade, but it then bounced back higher into the close and ended with a gain of 0.2%. Silver rose $0.60 to $29.49 in early New York trade, but it then fell back off for most of the rest of the day and ended near its late session low of $28.735 with a loss of 0.24%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 January, 2011
Gold confirmed the turn upwards, but still within the current consolidation trading range. The dollar continues to visibly weaken, attacking the $1.35 level now against the euro, with other leading world currencies firmer against the dollar. We are of the belief that were practical central banks are aiming to keep exchange rates within a clearly defined trading range so that international trade is relatively stable. This will disguise the real market view on exchange rates spreading the falling confidence across the entire board of different currencies. For example the Swiss are very worried by their exchange rate and will move to intervene should it get much stronger. The same applies to the Japanese yen. With politicians procrastinating on increasing the rescue fund of the Eurozone we do expect them to wait until another crisis blows up before they act. This remains positive for gold. Full Story
WHOLESALE PRICES for gold bullion rose versus the US Dollar in Asia and London trade on Wednesday, recovering almost one-third of this year's 4.5% loss but holding flat once again vs. other major currencies. Full Story
Gold is slightly higher in the US dollar and other major currencies. Spot silver has given up early gains but the futures market has seen longer term contracts fall more in price so that while spot is up $0.09 to $28.96/oz, the July 11 contract is only trading up $0.01 to $29.00 and and the December 11 contract has fallen by $0.084 to $29.01. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 January, 2011
Gold jumped up to as high as $1376.15 by about 9AM EST before it fell back off into the close, but it still ended with a gain of 0.55%. Silver surged to as high as $29.052 by midmorning in New York before it also fell back off, but it still ended with a gain of 2.01%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 January, 2011
Gold held its own overnight in Asia. The dollar is visibly weakening now against the major currencies of the world. How long this continues remains to be seen. We are told to expect an announcement on the European rescue package soon, after a day when European leaders failed to agree, but this may not happen until March. A correction to yesterday’s daily review – German Bunds are at around 1% with Greece up at 12%. This defines the extent of the Eurozone’s debt crisis well, we think. Oh, this isn’t the market’s “fault”. It is a consequence of political action or lack thereof over government finances. One has to ask after more than a year with these problems, why has not solution been found yet? Full Story
THE PRICE OF GOLD and silver bullion prices rose together with all major currencies on Tuesday morning vs. the Dollar, erasing last week's losses for US investors as European stock markets gained more than 1%. Full Story
Gold is mixed while silver is higher in all currencies today, especially in the weaker US dollar. European sovereign bond yields are higher and the UK 10-year has risen to 3.66% and is close to breaking out after inflation figures surprised the majority of analysts who remain complacent about inflation. Gold is currently trading at $1,370.75/oz, €1,022.11/oz and £856.57/oz. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 January, 2011
Gold Fixed this morning at $1,357.50 and €1,022.98 [almost the same as Friday’s p.m. Fix] after Asia had brought it to $1,364. As the Eurozone nations enlarge the “rescue package’ to accommodate further nations in need of rescue the markets received the news well, at first. Then the dollar started to fall again, but the euro overtook it on the downward slope. The big question now will be, “Is the Eurozone going to do enough to not just save the euro, but retain confidence in it?” We have no doubt that the euro will survive as a means of exchange but what state will it be in as a measure of value? Asia is remarkably consistent in its taking gold back up in price overnight. Full Story
THE PRICE OF GOLD bounced vs. the Dollar in London on Monday morning, trading unchanged from Friday's 8-week closing low at $1361 per ounce as European stock markets and commodities also held flat. With New York closed for Martin Luther King Day, US Treasury bonds were unchanged but the Dollar whipped around $1.33 to the Euro. Full Story
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