By: Chris Mullen, Gold-Seeker.com - 23 December, 2011
Gold climbed to as high as $1613.63 in Asia before it chopped back lower in London and New York, but it still ended with a gain of 0.16%. Silver slipped to as low as $28.898 by early afternoon in New York before it bounced back higher, but it still ended with a loss of 0.17%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 December, 2011
Gold dropped to $1,604.70 at the close in New York, but picked up to $1,609.35 in Asia, before London opened. Then gold was Fixed in London at $1,607.50 and in the euro at €1,229.070 while the euro stood at €1: $1.3079, all barely changed on yesterday. At New York’s the market was barely changed at $1,608.75and the euro stood at €1: $1.3061 leaving gold in the euro at €1,231.72. After Fixing at $29.22 the silver price followed gold down and stood at $29.30 as New York opened. Full Story
WHOLESALE PRICES to buy gold were little changed in London on Friday, ending the short pre-Christmas session at $1607 per ounce, some 0.6% higher against the Dollar from last week's finish. Silver prices also held flat, moving in a tight range below $29.50 per ounce and recording a London Fix almost 1.9% down for the week at midday. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 December, 2011
Gold fell over 1% to $1598.17 by a little after 10:30AM EST before it bounced back higher midday, but it still ended with a loss of 0.7%. Silver climbed up to $29.69 in Asia, but it then fell back off in London in New York and ended with a loss of 0.78%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 December, 2011
Today, the markets are telling us that the relief the E.C.B. gave to banks was good but not enough to stop the steady rot in the Eurozone debt and banking crisis. A good deal of the money lent to the banks found its way into government bonds, such a Spanish bonds and did not flow out from the banks to the broad economy. Gold, because it is being treated as linked to the euro slipped with it. Full Story
THE PRICE OF spot gold bullion was little changed Thursday morning in London, easing back from $1610 per ounce after yesterday's sharp spike and pullback in what dealers again called "thin" trade ahead of Christmas. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 December, 2011
Gold climbed $27.50 to as high as $1641.60 by a little after 5AM EST before it fell to see a $7.86 loss at $1606.24 by about 10AM EST, but it then bounced back higher into the close and ended with a gain of 0.12%. Silver surged to as high as $30.194 before it fell back to $29.128, but it also bounced back higher in late trade and ended with a loss of just 0.58%. Full Story
THROUGHOUT THIS CRISIS, the European Central Bank has stuck to the mantra that its job is to ensure price stability above all else. It has, for example, objected to suggestions that it might fund the European Financial Stability Facility, the Eurozone's 'temporary' bailout mechanism that now looks like it may hang around a bit longer than first anticipated (whether it will have much money to lend to troubled Eurozone governments is another matter). Full Story
U.S. DOLLAR gold bullion prices dropped to $1609 an ounce Wednesday lunchtime in London – 1.9% down from the high for the week so far, set less than three hours earlier. Stocks and commodities also traded lower following an announcement by the European Central Bank about its latest liquidity operation. Full Story
With just a few trading days left in 2011, we can take stock of gold’s performance vis-à-vis other assets. Gold is 13.7% higher in USD, 12% higher in GBP and 14.4% higher in EUR. Gains were seen in all fiat currencies and even stronger performing fiat currencies such as the CNY (yuan) and JPY (+9% and +8.75% respectively). Full Story
By: Chris Mullen, Gold-Seeker.com - 20 December, 2011
Gold rose $25.57 to as high as $1618.37 by late morning in New York before it fell back off a bit midday, but it still ended with a gain of 1.34%. Silver surged to as high as $29.603 and ended with a gain of 2.82%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 December, 2011
Gold returned above $1,600 overnight and stood at $1,603.00 an ounce ahead of London’s opening today with the euro standing at €1: $1.3080. It was then Fixed at $1,605.00, up $7 on yesterday afternoon’s fixing and in the euro at €1,227.909 up €5 on yesterday’s p.m. Fix, while the euro stood at €1: $1.3071. Ahead of New York’s opening gold rose slightly to $1,607.5 with the euro at 1€: $1.3083 leaving the gold price in the euro at €1,228.69. Full Story
SPOT MARKET gold prices climbed to $1608 an ounce Tuesday lunchtime in London – a 2.8% gain from last week's low – while stocks and commodities traded higher, with the exception of the FTSE in London which fell lower. Full Story
Gold is trading at USD 1,604.2, EUR 1,227.90, GBP 1,026.40, CHF 1,495.0, JPY 124,984 and AUD 1,606.40 per ounce. Gold’s London AM fix this morning was USD 1,593.00, GBP 1,028.34, and EUR 1,222.94 per ounce. Yesterday's AM fix was USD 1,605.00, GBP 1,027.003 and EUR 1,227.91 per ounce. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 December, 2011
Gold rose $11.65 to $1608.55 by a little after 8AM EST before it fell back below $1590 by late morning in New York and then popped back up to $1599.59 by a little after 1PM EST, but it then fell back off again into the close and ended with a loss of 0.26%. Silver Slipped to as low as $28.588 and ended with a loss of 3.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 December, 2011
Gold stood at $1,592.00 an ounce ahead of London’s opening today with the euro standing at €1: $1.3023. The euro price of gold Asia was at €1,299.24. After London opened the gold price rose through $1,595. It was then Fixed at $1,593, down $1 on Friday’s p.m. fixing and in the euro at €1,222.939 down €4 on Friday’s p.m. Fix, while the euro stood at €1: $1.3096. Ahead of New York’s opening gold rose slightly to $1,595.15 with the euro at 1€: $1.3015 leaving the gold price in the euro at €1,225.62. Full Story
WHOLESALE MARKET gold bullion prices rose to $1607 an ounce Monday lunchtime in London – 0.5% up from last Friday's close – while European stocks and commodities were broadly flat and government bond prices eased. Full Story
Gold is trading at USD 1,592.0, EUR 1,223.30, GBP 1,028.00, CHF 1,491.0, JPY 124,067 and AUD 1,600.50 per ounce. Gold’s London AM fix this morning was USD 1,593.00, GBP 1,028.34, and EUR 1,222.94 per ounce. Friday's AM fix was USD 1,589.50, GBP 1,022.84 and EUR 1,218.94 per ounce. Full Story
In 2011 there was minimal RBI intervention in the rupee. We never expected the rupee to weaken to 54.20 against the US dollar in July 2011 on expectation that RBI will prevent weakness over 52.00. The best way to analyze the rupee in 2012 is to ignore expectations of RBI intervention and to use standard analytical tools as we use for developed market currencies. Full Story
Rupee had weakened to 54.32 against the US dollar last week. As a result gold prices did not fall as much. In September when gold prices fell to $1535 MCX gold prices was around Rs.25000 (per ten grams) and now last week when gold prices fell to around $1560 MCX gold prices fell to Rs.27047 (per ten grams). Full Story
Last week, gold, silver, copper and crude oil have all closed below their 200 day moving averages. Technically the 200 day moving average is very important for short term direction in commodities. Over the past few years since 2007 gold and silver have not fallen below the 200 day MA in the period October to March. Last weeks close is significant in this respect. Let’s take a technical view for each of them. Full Story
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