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Weekly Archives
By: Chris Mullen, Gold-Seeker.com - 22 June, 2007
Gold remained near unchanged in Asia before it edged up in London and traded nearly 1% higher above $655 in early New York trade, but it then fell back to unchanged by early afternoon ahead a $3 rally in the last 20 minutes of trade that left it with a gain of 0.46%. Silver dropped to as lows as $12.94 before it also rallied back higher in late trade, but it still ended with a loss of 0.15%. Full Story |
By: GoldSeek.com - 22 June, 2007
COT Gold Report - June 22, 2007 Full Story |
By: SilverSeek.com - 22 June, 2007
COT Silver Report - June 22, 2007 Full Story |
By: Neal R. Ryan - 22 June, 2007
Realizing that they were both starting negotiations at opposite ends of the spectrum, the Chamber of Mines (gold mining companies) and three South African labor unions, backed away from the table yesterday, reset the clock and will restart negotiations on the 2nd of July. Full Story |
By: Adrian Ash - 22 June, 2007
SPOT GOLD PRICES recovered nearly all of Thursday's late sell-off during the first-half of London trade on Friday, climbing to $655 bid after holding around $652 throughout the Asian session. In Tokyo, gold futures for April '08 had earlier closed the week 0.3% lighter at the equivalent of $657.42 per ounce. The Yen weakened on the forex markets to a fresh four-and-a-half year low against the Dollar. But against the other major currencies, however, the US Dollar slipped back as rising Treasury bond prices pushed yields lower. Full Story |
By: Chintan Karnani, Insignia Consultants - 22 June, 2007
Investors are clearly nervous over the fall out of losses by bears sterns and an Irish hedge fund. This resulted in gold, silver and copper falling only to recover thereafter towards the close and edge higher. Full Story |
By: Chris Mullen, Gold-Seeker.com - 21 June, 2007
Gold traded mostly slightly lower in Asia and London before it rose back near unchanged in early New York trade, but it then fell back off after 9:30AM EST for a few hours and dropped to as low as $647.20 by early afternoon ahead of a small rally higher in the last hour of trade that took it over $3 off its low and left it with a loss of 0.84%. Silver dropped to as low as $12.92 by early afternoon before it rebounded about 1% off its low and ended with a loss of 1.21%. Full Story |
By: Neal R. Ryan - 21 June, 2007
While the precious metals sector doesn't seem to be viewing the potential South African platinum and gold strikes with much interest currently, the rhetoric heading into the last week of negotiations is ramping up quickly. The largest labor union rejected Impala Platinum's wage increase offer today and all three unions lodged complaints with the government, the first step in beginning a strike in the gold sector. South Africa produces 11% of annual gold mine supply and 75-80% of annual platinum supplies. The drop date for the current labor contract is June 30th. Full Story |
By: Adrian Ash - 21 June, 2007
SPOT GOLD PRICES traded flat during the first-half of London trade on Thursday, holding above Wednesday's late low of $653.50 hit in New York, but failing to break above $656. The AM Fix came in at $654.50 per ounce, the lowest Fix since Friday afternoon. Full Story |
By: Chintan Karnani, Insignia Consultants - 21 June, 2007
The current bull run in equities, treasury yields, commodities, real estate is mainly due to availability of virtually free money. In the first decade of the twenty first century, most of the global central bankers printed more money and distributed to the markets at nearly zero interest rates to stimulate growth in their own countries. Full Story |
By: Chris Mullen, Gold-Seeker.com - 20 June, 2007
Gold traded mostly slightly lower in Asia and London ahead of a small rally in early New York trade, but it then fell sharply a little after 9AM EST and dropped to as low as $655.60 by late morning trade before it rebounded slightly into the close, but it still ended with a loss of 0.67%. Silver rose over $13.30 in early New York trade before it dropped to as low as $13.16 and then rebounded into the close and ended with a loss of 0.45%. Full Story |
By: Neal R. Ryan - 20 June, 2007
The unions in South Africa representing coal and gold miners have sent their initial demands to the mining company representative group, the Chamber of Mines, to kick off the negotiations for a new contract. The old two-year contract expires on June 30th when 160,000 workers will walk off the job if no new agreement is in place. The initial comment by the Chamber of Mines representatives on the issue is below…things are not starting out on the right foot. Full Story |
By: Adrian Ash - 20 June, 2007
SPOT GOLD PRICES traded in a tight range early Wednesday, dipping from an overnight peak of $662.50 per ounce in Asia to reach lunchtime in London just $1 lower. The AM Fix came in at $659.60 per ounce, the highest London Fix for nearly two weeks. Full Story |
By: Neal R. Ryan - 19 June, 2007
Just announced this morning was a set of new metal ETF investment products for the Italian trading bourse, set to launch tomorrow. These ETFs are set to be backed by physical metal holdings and will be offered in gold, silver, platinum and palladium. Interestingly, ETF Securities stated in the release that the metal backing the ETFs will not be available for loan into the market, a concern many market pundits have become keenly aware of due to some loopholes in existing metal ETFs. Full Story |
By: Adrian Ash - 19 June, 2007
GOLD SLIPPED as the London session began Tuesday, dropping nearly $3 per ounce from the overnight high in Asia to record an AM Fix of $655.10 per ounce. The metal than rallied ahead of the US open, recovering $656 in the spot market and reaching $656.10 for July Comex gold futures. Full Story |
By: Chintan Karnani, Insignia Consultants - 19 June, 2007
Copper fell on profit taking ahead of the looming mine worker strike in Peru over the next few days. Copper prices are being supported by continuous mine workers strikes. Full Story |
By: Chintan Karnani, Insignia Consultants - 18 June, 2007
The first two weeks of June has been volatile with an equal fight between bulls and bears in commodities. Most of the major economic numbers and major central bank meetings are now behind us. Full Story |
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