Gold fell almost 2% to $1166.53 in early Asian trade before it climbed back to see a loss of just $3.18 at $1184.82 in London and then dropped to $1170.50 in midmorning New York trade ahead of a rally back to $1187.30 by about noon EST to see a loss of just 70 cents, but it then fell back off in afternoon trade and ended with a loss of 1.03%. Silver climbed to $17.80 and fell to $17.40 in midmorning New York trade before it rallied to a noontime high of $17.868, but it also fell back off into the close and ended with a loss of 0.56%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 May, 2010
"With all types of financial markets down, shades of 2007’s deleveraging are present in the market. Gold at $1,180 is holding up far better than mainstream markets. Gold’s a.m. Fix was $1,183.50 as London continues to dominate the gold markets across the world. Silver fell to $17.50 and then recovered to $17.70”. Full Story
THE PRICE OF GOLD bounced from a new two-week low in London today, nearing the weekend 4.3% below last Friday's close as world stock markets slumped for the fourth time in seven sessions. Full Story
Gold is marginally lower (-0.2% in USD terms) and is currently trading at $1,180/oz and in Euro and GBP terms, gold is trading at €944/oz and £823/oz respectively. Gold has risen in sterling terms after the much higher than expected UK budget deficit (see below). Gold is only down some 4% on the week (USD - $1,230/oz to $1,180/oz) which is impressive given the sharp sell off seen in most commodity and equity markets. Full Story
Gold dropped in London to see a loss of $17.85 at as low as $1174.85 by about 8:30AM EST before it climbed back higher in New York, but it still ended with a loss of 0.39%. Silver fell 3.66% to as low as $17.466 shortly after the open of trade in New York before it also bounced back higher for a bit, but it still ended with a loss of 2.26%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 May, 2010
“Asian demand is strong overnight, which took gold to $1,198, but closed it down, at $1,190. London is dominating the gold market globally, with an a.m. Fix of $1,209.5. Silver is standing at $18.59 solidly” Full Story
THE PRICE OF GOLD in wholesale, professional dealing fell further on Thursday in London, dropping to a two-week low vs. the Dollar as Asian stock markets closed sharply lower and an early rally in Eurozone shares flipped into a 2% plunge. Full Story
Gold rose to see a gain of $6.05 at $1220.25 in late Asian trade, but it then fell off rather markedly for most of the rest of trade in London and New York and ended near its late session low of $1187.25 with a loss of 1.77%. Silver fell to as low as $17.929 by early afternoon in New York and ended with a loss of 3.97%. Full Story
THE PRICE OF GOLD fell hard versus the surging US Dollar in Asia and London on Wednesday, falling to a 1-week low of $1202 an ounce as world stock markets and commodities also sank. Full Story
By: Chintan Karnani, Insignia Consultants - 19 May, 2010
Unilateral action by Germany will only result in further losses in the euro as the leads investors to believe that the problems in the eurozone are very severe and long lasting. Blaming electronic trading and speculation for the financial mess created by central banks is not right. Full Story
Gold remained near unchanged for most of trade in Asia before it fell as much as $21.10 to as low as $1206.50 by a little before 8AM EST in London and next rallied back higher for most of the rest of the morning in New York, but it then fell back off a bit in afternoon trade and ended with a loss of 1.09%. Silver dropped 25 cents to as low as $18.62 before it also climbed back higher and saw a $0.248 gain at $19.118 by late morning in New York, but it then fell back off in last couple of hours of trade and ended with a gain of just 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 May, 2010
"Gold settling back in a correction to trade just over $1,200 after a London Fix of $1,215. Silver is standing at $18.74 in a consolidation moment.” Full Story
THE PRICE OF WHOLESALE gold bullion bars fell further in London dealing on Tuesday, extending the discount to 3.2% from Friday's record high against the Dollar as world stock markets and commodity prices bounced sharply. Full Story
Gold fell for a fourth day in Europe due to profit-taking but is likely to remain supported due to continued concerns about sovereign debt contagion and currency risk. Gold rose to a record intraday nominal high of $1,249 a troy ounce last Friday but has since pared back its gains and is now trading at $1,209.95 an ounce, down 1.3% on the day amid a combination of profit taking and increased risk appetite. Full Story
Gold and silver rose over 1% in Asia before they fell to see modest losses in London and then climbed back higher in early New York trade, but both metals then fell back off to new session lows in late morning action and gold ended unchanged on the day while silver closed with a loss of 1.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 May, 2010
"Gold is holding firm after a rest in Asia and London and could attack $1,350 again, at the Fix at $1,230.25. Silver is standing at $19.30.” Full Story
THE PRICE OF GOLD in London's wholesale market slipped 1.2% from an early gain vs. the Dollar on Monday, touching new record highs for Euro and Sterling investors as Asian stock markets closed the day sharply lower. Full Story
The euro has fallen to new 4 year lows this morning on continuing eurozone debt and contagion concerns. Indeed, the survival of the euro itself is being questioned which is leading to continuing safe haven demand for gold. Full Story
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