By: Chris Mullen, Gold-Seeker.com - 23 March, 2012
Gold steadily rose throughout most of world trade and ended near its late session high of $1666.22 with a gain of 1.23%. Silver surged to as high as $32.26 and ended with a gain of 2.26%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 March, 2012
New York closed at $1,642.50 yesterday. Asia barely moved it back up to $1,647.30 ahead of London' opening. The euro was also barely changed at 1€: $1.3240 after weakening in New York. Later in London’s morning the Fix was set at $1,651.00 and in the euro at €1,246.038 [same as yesterday] while the euro stood at €1: $1.3250. Ahead of New York’s opening it stood at $1,649.00 and in the euro €1,245.47 while the euro was at €1: $1.3240. Full Story
THE WHOLESALE MARKET price of buying gold bullion climbed to $1658 an ounce shortly after US markets opened on Friday – matching the level it rose to four hours earlier when London began trading – as European stock markets edged lower and commodity and government bond prices rose. Full Story
Hopes that the US economy is recovering and that the Eurozone debt debacle is over has led to increased risk appetite in recent weeks. This sent gold to a 2 month low yesterday. Gold has fallen 2.8% so far in March. This has been attributed to Fed Chairman Bernanke denying that QE will take place. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 March, 2012
Gold saw slight gains in Asia before it fell to as low as $1628.00 by about 9:30AM EST, but it then rallied back higher into the close and ended with a loss of just 0.41%. Silver slipped to as low as $31.09 by early afternoon in New York before it also bounced back higher in late trade, but it still ended with a loss of 2.18%. Full Story
WHOLESALE bullion fell hard in early London trade on Thursday, with the gold price dipping to nearly its lowest level in 2012 as world stock markets and commodity prices also fell. India's jewelry sector remained on strike in protest at last week's doubling of import duties, and "with physical demand not at full strength and waning investor enthusiasm, the potential for further downside in [the gold price] remains exposed," says today's note from Standard Bank. Full Story
Gold has broken below recent support at $1,640/oz and reached as low as $1,632.45/oz this morning - below its recent low and its lowest price since January 16. Gold looks like it will go lower on technical weakness and the next level of support is $1,600/oz. Below that again support is at $1,523/oz - the low seen December 29. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 March, 2012
Gold climbed to $1660.03 in Asia before it fell back to $1646.50 in London and then rose to a new session high of $1661.80 by a little after 10AM EST, but it then fell back off into the close and ended with a gain of just 0.08%. Silver rose to $32.385 before it slipped back to $31.845, but it then bounced back higher in New York and ended with a gain of 0.22%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 March, 2012
Central bank demand appears to have increased but make no mistake we would not be able to get accurate figures until they are reported by the IMF/World Gold Council at month end. As we have said before these deals are made with central banks are made by dealers offering stock direct to the central bank dealers and may well not have any price impact until other demand attempts to buy, when the lack of stock then forces the price upwards. It is a low profile way of buying, with minimum price impact and yet may well accommodate very large transactions. Full Story
WHOLESALE MARKET gold prices rose to $1660 an ounce Wednesday morning London time – more or less where they ended last week – before easing ahead of US markets open, while stock, commodity and government bond prices held broadly steady following news that the UK government deficit rose sharply last year. Full Story
Gold fell 0.89% in New York yesterday and closed at $1,650.80/oz. Gold edged higher in Asia and ticked slightly higher before falling in Europe this morning where gold is now trading at $1,649.30/oz. The weak dollar helped the buying strength in Asia but a drop in physical demand and hopes for the US economic recovery limited gains. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 March, 2012
Gold fell $21.10 to $1641.60 by a little before 8:30AM EST before it rebounded to $1657.72 by late morning in New York, but it then fell back off again midday and ended with a loss of 0.89%. Silver slipped 90 cents to as low as $32.01 before it also bounced back higher in morning New York trade, but it then fell to a new session low of $31.787 and ended with a loss of 2.61%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 March, 2012
The proposed doubling of import duties on gold are an attempt to dissuade Indians from buying gold. But Indians are unlikely to just bow their heads in submission. We mentioned that smuggling would reappear after it fell away in 1991. We also expect the volumes done at the high profiles gold outlets will drop but the low profile distributors whose record keeping is not particularly good to see a boost in their turnover. Full Story
U.S. DOLLAR gold bullion prices dropped to $1643 an ounce Tuesday lunchtime in London – 1.0% down on Friday's close – as stock and commodity prices also fell and US Treasury bonds rose. "[Gold] support is at $1625," says the latest technical analysis from bullion bank Scotia Mocatta. "A breach of this level opens up a full retracement to the $1522 December lows." Full Story
The superficially rosy US economic outlook has dimmed gold’s safe haven appeal for speculators and some investors. Some investors opted to allocate cash to equities which have outperformed and been more buoyant of late. The flight to safe haven gold has slowed in recent weeks due to the perception that the worst of the Eurozone debt crisis is over and that the US economy is recovering. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 March, 2012
Gold fell $7.80 to $1652.30 by a little after 8AM EST, but it then climbed to as high as $1669.38 by late morning in New York and ended with a gain of 0.16%. Silver slipped to $32.243 in London, but it then rose to as high as $33.07 in New York and ended with a gain of 1.23%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 March, 2012
New York closed at $1,660 on Friday. Asia lifted it to $1,663 ahead of London' opening. London opened with the euro at €1: $1.3164, gold at $1,658 but dropped just ahead of the Fix, which was set at $1,654.00 and in the euro at €1,256.934 while the euro stood at €1: $1.3159. Full Story
THE SPOT gold price held above $1650 per ounce Monday morning in London – staying within $10 of where it closed last week, but over 4% down on the month so far. "The market feels a bit top-heavy, which may imply a further correction on the downside to $1600," warns the latest note from Swiss precious metals refiner MKS. Full Story
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