Gold reversed slight losses in Asia and rose as much as $7.77 to $1203.97 at around 8:15AM EST, but it then chopped back lower for most of trade in New York and ended near its early afternoon low of $1185.75 with a loss of 0.65%. Silver climbed to $18.265 and dropped to $18.03 before it bounced back higher in late morning New York trade and ended unchanged on the day. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 July, 2010
Despite the ‘stress test’ trepidation in Europe, the currency markets have let the U.S. Dollar fall and the Euro hold steady against main currencies. It is the Dollar that is being pressed back against $1.30 against the Euro once more. The oil price has also broken up through its trading range of the last few weeks to top $80. It seems the markets are seeing through the smoke and mirrors from the media and have their eyes fastened on the future of the U.S. and its currency. Full Story
THE PRICE OF GOLD rose to a 5-session high above $1200 an ounce early Friday, showing a week-on-week gain for US, Euro and Japanese investors but holding unchanged against Sterling and Swiss Francs. Full Story
Gold extended yesterday’s after hours losses and dropped almost 1% to as low as $1180.70 in Asia before it rebounded a bit in London and then shot higher between 9:30 and 10AM EST to see an $8.25 gain at $1200.30 by midmorning in New York, but it then fell back off into the close and ended with a gain of just 0.35%. Silver jumped to as high as $18.173 before it also fell back off a bit in the last few hours of trade, but it still ended with a gain of 1.74%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 July, 2010
When Fed Chairman, Mr. Ben S. Bernanke used the words, “unusually uncertain” to describe the U.S. economic outlook, markets were surprised. As this sunk in it was realized that the dreaded ‘double-dip; recession is now entirely possible. All markets will be unusually sensitive to economic statistics from now on. Full Story
THE PRICE OF GOLD slipped in early London trade on Thursday, while silver prices rose and Chinese stocks led world equities higher. Long-dated government bonds ticked down following a raft of better-than-expected European data that also saw the Euro and Sterling both reverse Wednesday's drops vs. the Dollar. Full Story
Gold trading in London declined in June as average daily volumes fell 16 percent, according to the London Bullion Market Association. Silver trading dropped 19 percent. An average of 20.8 million ounces of gold traded daily, down from 24.7 million in May, the LBMA said today in an e- mailed statement. Silver turnover fell to a daily average of 85 million ounces, from 104.3 million ounces. Full Story
Gold fell to $1187.65 in Asia and rose to $1197.80 in London before it fell back off in New York and ended near its session low of $1189.40 with a minor loss of 0.02%. Silver rose to as high as $17.87 in early New York trade before it chopped its way back lower into the close, but it still ended with a gain of 0.62%. Both metals have moved modestly lower in after hours access trade in reaction to Bernanke’s testimony before Congress. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 July, 2010
Asia held gold at the $1,190 level through the opening of London, where everybody waited for the first Fix. After Fixing at $1,183 yesterday afternoon Gold Fixed in London this morning at $1,191.25 and the Euro held steady at $1.28 ahead of New York. Full Story
THE PRICE OF wholesale gold bullion bars jumped late-morning in London on Wednesday, reversing the week's 1.5% drop to new two-month lows, as the Euro and Japanese Yen both slipped against the Dollar. Full Story
Gold traded slightly higher in Asia before it fell off in London and saw a $6.40 loss at $1175.50 a little after 8AM EST, but it then stormed back higher for most of trade in New York and ended near its late morning high of $1193.50 with a gain of 0.88%. Silver fell to as low as $17.405 before it also rallied back higher and ended near its late morning high of $17.755 with a gain of 0.74%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 July, 2010
Gold Fixed in London this morning at $1,181.50 and has held at that throughout the day, until New York came in to lift it a couple of Dollars. This was as the $:€ turned down again to $1.28 after nearly touching $1.30. As we said yesterday attention has turned from Europe’s problems to those of the U.S.A. Full Story
THE PRICE OF GOLD in wholesale dealing slipped towards new multi-week lows against all major currencies on Tuesday, dropping beneath $1178 an ounce for Dollar investors as European stock markets extended yesterday's fall. Full Story
Gold traded modestly higher in Asia before it fell back off in London and early New York trade to as low as $1177.68 by about 11AM EST and then bounced back higher in afternoon trade, but it still ended with a loss of 0.56%. Silver fell to as low as $17.46 before it also rebounded in late trade, but it still ended with a loss of 1.24%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 July, 2010
Last week saw the gradual switch of gold market focus from Europe to the U.S. as the Euro rose to almost $1.30 up from its recent low of $1.23: €1. Fears that the U.S. is headed for a double-dip recession appeared to mature on the back of reports that U.S. home builders are turning increasingly pessimistic after home sales dried up when a federal subsidy expired. Full Story
THE PRICE OF GOLD ticked lower in London on Monday morning, slipping towards new 8-week lows at $1185 an ounce in what one dealer called "very quiet" trade. Gold trading in Asia was also "lazy" according to one local dealer, as the US Dollar reversed last week's late gain against the Euro on the FX market and silver dropped 10¢ to $17.80 an ounce. Full Story
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