By: Chris Mullen, Gold-Seeker.com - 21 August, 2009
Gold fell slightly and Asia, rose to find decent gains in London, and exploded to as high as $957.55 by about 8:30AM EST in New York before it fell back off a bit into the close, but it still ended with a gain of 1.35%. Silver followed a similar pattern and ended near its high of $14.288 with a gain of 1.94%. Full Story
Gold still continues to trade within a spiraling pattern on the charts, with the range in prices becoming narrower. Today’s positive existing home sales number gave the market a solid, sustained boost into the week’s close. Full Story
THE PRICE OF GOLD leapt towards the start of New York trade on Friday, adding $10 inside five minutes and reversing the last fortnight's drop as European shares rose to fresh 10-month highs. Unwinding all of August's 2.3% loss above $955 an ounce, gold also rose against the other major currencies, hitting one-week highs for Japanese, Euro and UK investors. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 August, 2009
Gold and silver saw slight gains in Asia and London before they fell shortly after 8AM EST and dropped to as low at $937.40 and $13.78 in early New York trade, but both metals then rallied back higher into the close and gold ended with a loss of just 0.27% while silver was able to end with gain of 0.14%. Full Story
The PRICE OF GOLD slipped back from yesterday's 1.2% jump in quiet London trade on Thursday, dipping below $940 an ounce as European stock markets rose for the third day running. Government bonds were flat, with 10-year US Treasury yields staying near this week's lows at 3.48%. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 August, 2009
Gold fell as much as $5.55 to $931.95 in Asia and remained slightly lower in London, but it then spiked higher in midmorning New York trade and ended near its high of $944.90 with a gain of 0.57%. Silver gained 12 cents to $14.05 in Asia before it fell as much as 44 cents to $13.49 by about 8:30AM EST in New York and then rallied back higher for most of the rest of trade, but it still ended with a loss of 0.43%. Full Story
Following Monday’s sharp sell-off, the price of gold has found some support in the low $930 range in the past two trading session. Yet, the trending pattern in gold prices continues to leave traders flummoxed about which direction will prevail shortly. From a charting perspective, the winding pattern cannot continue much longer with prices now constrained between two narrowing trend-lines. Full Story
The World Gold Council reports today (please see link below) that investment demand is to remain at the forefront of gold demand. While demand for gold jewellery is down sharply in recent months, demand from the investment sector was strong and central banks became net buyers of gold again. Full Story
THE PRICE OF GOLD gave back another strong Asian bounce on Wednesday morning in London, dropping back to $935 per ounce as world equities fell, led by a fresh plunge in China's stock market. The Dollar rose, government bonds hit a one-month high, and crude oil dropped back below $69 per barrel. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 August, 2009
Gold rose to see a $5.05 gain at $939.80 by late trade in Asia before it fell back off in London and saw a loss of $0.55 at $934.20 by about 9AM EST in New York, but it then rallied back higher into the close and ended with a gain of 0.29%. Silver climbed as much as $0.265 to $14.225 in Asia before it fell to see a 1% loss at $13.82 by about 9AM EST in New York and then rallied back higher into the close, but it still ended with a loss of 0.21%. Full Story
SPOT GOLD PRICES reversed an early 0.8% bounce Tuesday lunchtime in London, drifting back to $936 an ounce as the Euro currency, commodities and world stock markets dipped on worse-than-expected US housing data. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 August, 2009
Gold saw slight losses in Asia, fell over 1% in London, and dropped to as low as $930.05 near the open of trade in New York before it bounced back higher into the close, but it still ended with a loss of 1.27%. Silver fell to as low as $13.81 by late morning in New York before it rebounded in the last couple of hours of trade, but it still ended with a loss of 4.84%. Full Story
The trending pattern in gold prices continues to leave traders flummoxed about which direction will prevail shortly. From a charting perspective, the winding pattern cannot continue much longer with prices now constrained between two narrowing trend-lines. Today’s sell-off puts closing prices right on the upward sloping line, and must be making some bulls nervous as the stock market appears to finally be entering a correction. Full Story
THE PRICE OF GOLD fell sharply against a strong US Dollar on Monday morning, falling through what one Asian dealer called "technical and psychological support at $942" to record the lowest Gold Fix so far this month at $937.50 an ounce. Full Story
The US dollar and equity markets continue to dictate commodities. Fundamentally gold and silver are still bearish. There is a lack of demand in gold and silver from India and other major consumers. Investors expect Indian gold and silver to start to pick up as we near the festival season. Demand will be there but it will be muted if prices continue to rise. Any fall in prices will only result in higher physical off take in gold and silver in India. Full Story
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