By: Chris Mullen, Gold-Seeker.com - 22 February, 2008
If you blinked you missed it, but after remaining near unchanged in Asia and London gold plunged from yesterday’s COMEX close of $945.50 to as low as $935.20 between 9:45AM EST and 10:30 before it quickly rallied back to about unchanged by noon. It then waffled on either side of unchanged for the remaining hour and a half of trade and closed with a loss of 0.12% to barely fall from yesterday’s record high. Full Story
Gold is consolidating the recent move to new all-time highs, trading within the confines of yesterday's range. While gold may be taking a breather so far today, the yellow metal appears poised to record its biggest weekly gain since July of 2006. Full Story
SPOT GOLD PRICES held inside a $7 range in London early Friday, recording a new all-time high the AM Fix of $945.75 per ounce as Asian and European equities reversed this week's gains and the US Dollar fell to a 10-session low. Full Story
Strong support in gold is now seen at $890 to $900. Short term support is at $940 and $915. After a short healthy consolidation in the $850 to $935 range, gold has broken out on a daily closing basis. A weekly close above $935 today will be very constructive. A close on a weekly or even daily basis above $935 should see us challenge $1,000 per ounce in a very short period of time. Full Story
A great performance by all metals this week on the back of a lack of major market moving news. No News is Good News for the markets. I am concerned over the pace of the rise of the metals especially of the base metals. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 February, 2008
Gold rose to a new record high at $953.80 by about noon EST in New York before it fell back off a bit in the last hour and a half of trade, but it still ended with a gain of 1.2%. Silver rose to a new 27 year high of $18.045 before it also came back off a bit into the close, but it still ended with a gain of 1.2%. Full Story
THE PRICE OF PHYSICAL GOLD BULLION gained almost 1% at the London opening on Thursday, taking the metal 3.6% higher from yesterday's low to a new record high above $948 per ounce. Full Story
After a short healthy consolidation in the $850 to $935 range, gold appears to have broken out. A close above $935 today and weekly close above $935 tomorrow will be very constructive. Strong support is now seen at $890 to $900. Full Story
Short term hot money has moved into commodities as all metals, energies and soft commodities continue to rise sharply every day. Expectations that commodities will outperform equities this year has also resulted in some long term investments coming at lower levels. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 February, 2008
Gold fell to as low as $913.40 by about 9AM EST in New York, but it then rallied fiercely higher over the next 4 hours of trade, made an intraday high of $936.15, and closed with a gain of 0.85% at a new record closing high. Silver fell to $17.173 before it rose to as high as $17.75 and closed with a gain of 1.26% at a new 27 year high. Full Story
GOLD FOR IMMEDIATE DELIVERY ticked 0.7% lower from last night's near-record highs early on Wednesday after recording its third highest London Fix ever. Full Story
Analysts have continually expected a correction in the gold price in recent months and this has not materialised. Platinum has now hit new record highs for 14 days in a row and this shows how markets, including commodity markets, can often surprise, both to the downside, and to the upside. Full Story
By: Rick Ackerman, Rick's Picks - 20 February, 2008
However, it’s also possible this headline-grabbing rally is the blow-off that will cap oil’s price for a long time to come. Fortunately, we won’t have to speculate on whether an important top is at hand, since the power and resiliency of the rally will be manifest on the intraday charts. Specifically, if significantly higher prices are coming, we should see bullish Hidden Pivot patterns reach or exceed their rally targets on the hourly chart while corrective patterns fail to do the same. Full Story
Interest rate cuts by the Fed have started impacting the markets as availability of cheap money is being invested in commodities. As long as Fed continues to cut interest rates, commodities will continue to rise which includes gold and crude oil as well. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 February, 2008
Gold steadily rose throughout world trade and climbed to as high as $930.50 by noon in New York before it came back off slightly in the last hour and a half of trade, but it still ended with a gain of 2.6% from Friday’s close and just 40 cents from setting a new record closing high. Silver climbed to $17.57 before it also came back a bit, but it still ended with a gain of 2.2% at a new 27 year closing high. Full Story
THE PRICE OF GOLD jumped 1.9% early Tuesday to hit a one-week high of $918.90 per ounce as European equities reversed early losses after a sharp fall in banking stocks. Full Story
Markets were closed in New York yesterday and the action centred on London where gold sold off initially and tested support at $900 prior to rallying strongly and this strength has continued in Asian trading with gold rising above $910 per ounce. Silver traded similarly, testing support just below $17 and then bouncing; in Asian trading silver has risen above $17.20 per ounce. Full Story
Gold and silver are in a consolidation phase and should break out from the current wider trading range soon. The technical picture is still bullish; however failure to break recent highs in the near term will result in a correction. Full Story
THE PRICE OF SPOT GOLD for immediate delivery gave back an overnight rally of 0.5% early Monday to trade just above $901 per ounce by lunchtime in London. Wall Street stayed closed for the Presidents Day holiday, meantime, leaving European stocks to race higher while crude oil rose further above $96 per barrel. Full Story
With U.S. markets closed, gold would be expected to have a quiet day but recent volatility may continue especially with the deteriorating situation in South Africa seriously affecting the supply of gold and particularly platinum. Full Story
There is a lot of positive gold/precious metals news in the form of UBS write downs, more write downs in CDO businesses, bank insurance firm FGIC splitting business to save itself, countrywide foreclosures at a record etc. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
