By: Chris Mullen, Gold-Seeker.com - 23 January, 2009
Gold traded slightly lower in Asia and rose roughly 1.5% to above $870 in London before it soared even higher in the last few hours of New York trade and ended about 1% off its high of $903.10 with an impressive gain of 4.33%. Silver rose about 2% to above $11.60 in London before it fell to see a loss of 0.99% by about 10:30AM EST in New York, but it then exploded higher in the last few hours of trade and ended about 1% off its high of $12.075 with a gain of 5.1%. Full Story
THE PRICE OF GOLD BULLION leapt to a 3-week high at the London opening on Friday, while world stock markets fell for the 11th time in sixteen sessions this month. The US Dollar also continued to gain, reaching a 6-week high vs. the Euro and fresh 23-year highs vs. the Pound. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 January, 2009
Gold dropped down to $843.55 in early New York trade after having traded mostly slightly higher in Asia and London, but it quickly popped back higher in midmorning trade and climbed to as high as $862.75 before closing with a gain of 0.85%. Silver made a low of $11.21 midday in London and climbed to as high as $11.505 by around 10:30AM EST in New York before it pared its gains in the last few hours of trade, but it still ended with a gain of 0.80%. Full Story
Gold has adopted a consolidative tone in the wake of solid gains on Tuesday. A second consecutive inside day (higher low/lower high) has formed. However, the overall technical tone remains favorable after important resistances gave way earlier in the week. Full Story
THE PRICE OF GOLD dropped $10 per ounce to $845 early in London on Thursday, while world stock markets continued to recover from Tuesday's sharp sell-off. Gold Bullion held flat for Eurozone buyers, however, as the single currency ticked low against the Dollar. Full Story
Gold fell slightly yesterday consolidating on the sharp gains of the inauguration day. Gold rose some $10.00 to $865.00 by early trade in London before falling in Europe and early trading in the US, but it then rallied back higher in afternoon trade and ended with a loss of just 0.40%. Silver traded similarly but as has been the case recently outperformed gold by rising over 1%. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 January, 2009
Gold rose $10.15 to $864.50 by early trade in London before it dropped as much as $11.30 to $843.05 by a little before noon EST in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.41%. Silver climbed $0.355 to $11.51 and fell $0.10 to $11.055 before it also rallied back higher in the last couple of hours of trade and ended with a gain of 1.12%. Full Story
Gold rose strongly on the inauguration of the 44th President, President Obama, yesterday - rising some 2% in dollar terms. It subsequently gave up some of those gains in Asia prior to rallying again in early European trading to over $860/oz. And gold’s strength came despite a very strong dollar yesterday. Importantly, this meant that gold surged in Euros and to new record highs in British pounds at £624.85/oz. Full Story
The PRICE of WHOLESALE GOLD BULLION clung onto Tuesday's sharp 4% gains early in London today, adding to the "Obama Bounce" for Euro and UK investors while world stock markets fell for the ninth session in thirteen during 2009 so far. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 January, 2009
Gold and silver traded mostly slightly lower over the Martin Luther King Holiday and dropped to as low as $823.37 and $10.90 in Asia this morning to see losses of 2.1% and 2.8%, but they then rallied back higher in London and New York and climbed to as high as $866.05 and $11.40 before ending with a gain of 1.57% for gold and a loss of 0.49% for silver. Full Story
THE PRICE OF GOLD leapt late-morning in London on Tuesday, gaining more than 4% vs. the US Dollar as the world's media awaited President Barack Obama's inauguration speech in Washington. The Gold Price in Euros also jumped 4%, reaching a 15-week high above €660. Full Story
Gold has rallied by more than 2% despite continuing dollar strength and oil having collapsed 7% to just over $34 per barrel (Light Sweet Crude Oil Future - Combined - FEB09 : -7.6%) . While the dollar is up on hopes that President Obama can turn around the ailing US and indeed the global economy, stock markets internationally are under pressure again today with increasing concerns regarding the international banking and financial system. Full Story
THE SPOT PRICE of wholesale gold bullion slipped early Monday in London, dipping 1% to $837 an ounce as European stock markets reversed an early gain despite a fresh flood of tax-payers' money to the financial sector. Both the US Dollar and Japanese Yen bounced on the foreign exchanges, while crude oil slipped back to $35 per barrel. Full Story
Gold rallied on the open in Asia to over $845/oz overnight before falling on a stronger dollar, then rising again in early morning trade in Europe before falling again to $838/oz, some $3/oz below its close on Friday. Full Story
If one looks at the technical charts most of the commodities are in a neutral zone. The relative strength index (RSI) is in a neutral zone while momentum oscillators are in a negative zone which suggests that gains in metals and energies will be capped unless there is a technical breakout. Full Story
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