Gold continued it's recent surge on Thursday and rose a further 1.5%.Gold futures for December delivery rose $10.40, or 1.4%, to $739.90 an ounce which is a new 27 year high. Earlier gold rose to $746.50, the highest for a most-active contract since Jan. 22, 1980, the day after the metal reached a record $873 an ounce. Full Story
Silver finally has been doing some catch with gold as it rises. Silver has been the underperformer in the precious metals space as it has to break 2007’s high. Technically as well as fundamentally silver has more potential to rise than gold. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 September, 2007
Gold rose to as high as $738.10 today and marked its highest price since climbing as high as $850 in January of 1980. After trading slightly higher in Asia and finding about 1% gains in London, gold rose even further to find over 2% gains by late morning in New York before it fell back off a bit into the close, but it still ended with a gain of 1.53%. Silver rose near $13.50 by late morning in New York before it also fell back off in afternoon trade, but it still ended with a notable gain of 2.94%. Full Story
Gold continues to pop as it rides the dollar’s weakness and inflationary concerns resume. Adding to the major bullish tone was the decision by the Fed to reduce both the federal funds rate and discount rate by 50 basis points, far more aggressive than most expected. While this may have injected some sort of spark into the economy, rising inflation still seems to be on the minds of many analysts as the dollar traded 64 points lower today, closing at 78.67. Full Story
Spot gold rose more than one percent to hit a 27-year high at $730.20 an ounce this morning on safe-haven buying and a slide in the dollar to record lows against the euro. Gold was quoted at $728.00/728.50 an ounce at 1200 GMT, compared with $721.10/721.90 in New York late on Wednesday. Full Story
It will be too much money chasing too few goods as a result of fed interest rate cut and other central banks pumping in billions every day. The decreasing power of paper assets will result in increasing power of hard assets over the next few years. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 September, 2007
Gold and silver both jumped over 1% higher in after hours trade yesterday in reaction to the fed’s policy announcement. Gold then traded in a range of about $720-$725 in Asia, London, and New York today before it ended near the bottom of that range, but it still ended with a respectable gain of 0.80%. Silver traded around the $13.00 level for most of world trade before it also ended near its low of the session, but it still ended with a gain of 1.25%. Full Story
GOLD PRICES pulled back $2 per ounce in London on Wednesday morning to trade just shy of the new 16-month high hit when the US Federal Reserve slashed Dollar interest rates on Tuesday in a bid to "forestall" recession. Full Story
Spot gold was trading at $723.70/724.20 an ounce as of 1200 GMT. As expected gold surged on the Federal Reserve's quite drastic 50 basis point interest rate cut and 50 basis points discount rate cut. On the decision, spot gold in electronic after hours trading immediately rallied from $715 to $726.90. Subsequently it has traded sideways to slightly down in Asian and European trading. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 September, 2007
Gold rose nearly 1% to above $720 by midday in London before it fell back off in early New York trade and saw slight losses at $711.30 a little after 10AM EST, but it then rallied back higher and found a small gain by the close ahead of the fed’s announcement that, at the time of writing, has sent gold noticeably higher in after hours trading. Silver rose near $13.00 in London before it also saw small losses in morning New York trade at as low as $12.65 by a little after 10AM EST, but it also found small gains by the close and has joined gold’s after hours rally with over 1% further gains at the time of writing. Full Story
SPOT GOLD PRICES traded flat in Asia on Tuesday before rising into the London open and breaking a new 16-month high above $721 per ounce ahead of today's US session. Full Story
Spot gold was trading at $720.00/720.50 an ounce as of 1215 GMT. It traded sideways in Asia and has continued to rally in Europe after yesterday's nearly 1% increase. Full Story
Gold has put on quite a show this past month with a $70 streak higher in prices, from $653 to $726. Although a rather weak close on Friday left the short term trend in doubt, the potential for a further push from the bull camp is a likely after finally breaking through resistance at the $700 level, which had stymied the bulls this whole year. Full Story
By: Adrian Ash, Bullion Vault - 17 September, 2007
Gold's last two sustained bull-market rallies – between 1977-80 and 2001-06 – both came when real interest rates slipped below zero. Negative returns to cash after inflation mean that money-in-the-bank loses purchasing power, making gold yet more attractive as a store of value. Full Story
The key event shaping the week is tomorrow's decision from the Federal Reserve on U.S. interest rates. A cut from the current 5.25% is expected - it's just a matter of whether it is 0.25% or 0.5%. Full Story
By: Rick Ackerman, Rick's Picks - 16 September, 2007
We don’t need to tell anyone that bullion’s price action has been more than a little encouraging lately, and that there are good reasons for this. For the first time in decades. gold is moving strongly higher not because some world-shattering geopolitical event such as the 9/11 attack, or the U.S. invasion of Iraq, has spooked it, but because of a more generalized fear that the financial markets are in deeper trouble than anyone knows how to fix. Nor can they be fixed as far as we’re concerned, and so the forces pushing gold higher at the moment should not be expected to abate any time soon. Full Story
The stock market had a good week and rallied up strongly. Because of the many reasons sited: excessive debt levels; toxic mortgage securities with limited liquidity and real collateral backing; derivative instruments and levels beyond comprehension or understanding, as to how they will or will not work; interbank liquidity problems; major banks that daily are in trouble because of subprime loan problems; and exorbitantly high Libor rates that many mortgages are tied to, especially adjustable rate mortgages to be reset at higher rates over the next year – there are just too many unprecedented and insurmountable obstacles for the markets to overcome. Full Story
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