By: Chris Mullen, Gold-Seeker.com - 21 December, 2007
Gold remained near unchanged in Asia and rose about $5 in London prior to a spike up about 1% further in early New York trade to as high as $812.40 before it dropped back under $810 in late morning trade, but it then rallied back higher in afternoon trade and ended near its earlier high with a gain of 1.65%. Silver followed a similar pattern and gained 0.91%. Full Story
Gold has again increased in sterling and in euros. Gold thus surpassed it's all time record high in british pounds with news of the horrendous current account deficit and deteriorating UK economy (see below). Gold will likely reach it's non inflation adjusted highs in euros and dollars early in the New Year. Full Story
Traders will either square off their positions or go long in precious metals, base metals and energies before they go on Christmas and New Year vacations. The current market circumstance is not the one of going short before vacations. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 December, 2007
Gold traded mostly slightly higher in Asia before it began to fall off in London and dropped to as low as $792.92 by late morning in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.32%. Silver fell to as low as $13.92 by late trade in London, but it then started to climb back higher in morning New York trade, spiked even higher in afternoon trade, and ended with a respectable gain of 1.00%. Full Story
Gold in dollars remains confused and in a tight trading range with mixed signals coming from the bounce in the dollar and the still elevated oil price. Gold is up some 25% year to date and with inflation on the rise and with the printing presses in full effect gold will likely again outperform other asset classes in 2008. Full Story
The Fed, European central bank and others have been adding liquidity over the past few weeks. The trickle down effect takes time which will support precious metals and base metals soon. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 December, 2007
Gold dropped to $797.40 by late trade in London before it rebounded to $804.70 by late morning in New York and then dropped back under $800 by early afternoon, but it then climbed back higher into the close and ended with a loss of just 0.22%. Silver dropped to $13.91 and rose to $14.14 before it fell back off a bit in the last few hours of trade, but it still ended with a gain of 0.29%. Full Story
Wholesale massive credit creation is the order of the day and this monetary debasement can only be bullish for the universal finite currency that is gold. Gold will thus continue to rise in all major currencies and not just the dollar. Actually, it is mistaken to think that gold is rising in terms of various currencies. Rather these currencies are losing their value or purchasing power in relation to gold. Full Story
Physical demand from India and China will rise in the first quarter of 2008. Chinese new year demand around mid February should result in higher demand. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 December, 2007
Gold dropped to $790.75 in Asia and then rose to $806.50 by early trade in New York before it fell back under $800 by late morning, but it then rallied back higher into the close and ended near its high of the session with a gain of 1.06%. Silver dropped to $13.75 and rose to $14.12 before it fell back under $13.90, but it also rallied back higher in afternoon trade and ended with a gain of 1.59%. Full Story
The credit crisis looks set to evolve from a serious liquidity crisis to an even more serious solvency crisis. If the solvency of major banks becomes an issue as seems increasingly likely then gold's safe haven credentials will really come into their own. Full Story
Year end profit taking and abating fears of a recession in US economy has resulted in US dollar gains and fall in crude oil prices and precious metals prices. Medium term to long term bullishness for precious metals as well as crude oil, medium term bearishness is there for the US dollar too. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 December, 2007
Gold initially rose back near $800 in early Asian trade before it fell to as low as $784.95 by early trade in London, but it then rose to as high as $796.15 by midmorning in New York. The yellow metal next dipped back to about $790 by late morning, but it then rallied back higher in afternoon trade and ended with a gain of 0.18%. Silver dropped to as low as $13.57 before it also rallied back higher and ended unchanged on the day. Full Story
Double bottom has been formed at $776 and a double top at $818. Gold will trade in wider $790-$814 range for the day. A breakout is in the offing from the current trading range soon. Full Story
By: Rick Ackerman, Rick's Picks - 16 December, 2007
Although the negative implications would be somewhat muted if the futures were to hesitate at any one of the supports on the way down, we cannot rule out the possibility that all three supports will be breached in one fell swoop. Were that to occur, there would still be one last "fail-safe" support at 755.50 to lean on, but if it too gives way, Gold would be signaling weakness, probably, for at least the next 2-3 months. Full Story
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