By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 September, 2011
As fear gripped virtually all markets, the gold price was savaged in one day by $73, leaving it 10% down from its peak. Asia in turn was infected with market fear and did nothing to raise the price. London opened this morning at $1,732 and in the euro at €1,280.60 with the exchange rate at €1: $1.3522, in a market that continues to threaten more volatility. Full Story
By: Ben Traynor, BullionVault - 23 September, 2011
U.S. DOLLAR gold prices fell again on Friday, falling to a seven-week low below $1700 as world stock markets continued to slump – as did industrial commodities – while the zero-yielding Dollar and Yen currencies continued to rally. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 September, 2011
After swinging both ways New York held the gold price at $1,804.70 at the close, then Asia took it down to $1,771 ahead of London’s opening. London then pulled it down to $1,764 ahead of the morning Fix which was set at $1,765.50 and in the euro at €1,310.399 while the euro was trading barely changed at €1: $1.3473. This was more an expression of the fall in the euro than a fall in the gold price. Full Story
By: Ben Traynor, BullionVault - 22 September, 2011
U.S. DOLLAR gold prices dropped to $1739 an ounce Thursday lunchtime in London – a 4.1% fall in less than 24 hours – as stocks and commodities also fell heavily following Wednesday night's announcement by the US Federal Reserve. Full Story
The central bank will buy bonds with maturities of six to 30 years through June while selling an equal amount of debt maturing in three years or less, the Federal Open Market Committee said today in Washington after a two-day meeting. The action “should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative,” the FOMC said. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 September, 2011
Gold climbed $10.25 to $1816.35 in Asia before it fell back to $1785.50 by about 10:30AM EST, but it then rallied back higher in the last few hours of trade and ended with a loss of just 0.08%. Silver fell to as low as $39.825 in late morning New York trade before it also rallied back higher midday and ended near its late session high of $40.588 with a gain of 0.87%. Both metals are falling in afterhours access trade following the fed’s statement. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 September, 2011
New York took the gold price up to $1,806 before the close, then Asia took it up to $1.813 ahead of London’s opening. London pulled it down slightly ahead of the morning Fix to $1,809 before it was Fixed at $1,810.25 and in the euro at €1,322.22 while the euro was trading barely changed at €1: $1.3691. Full Story
By: Ben Traynor, BullionVault - 21 September, 2011
THE DOLLAR gold price fell to $1789 an ounce Wednesday lunchtime in London – still a 1% gain on yesterday's low – while European stocks also fell as investors and policymakers weigh up their response to a sluggish growth outlook. Full Story
All eyes are on the Federal Reserve meeting and there are expectations that it will cut interest rates indirectly and/or start some form of quantitative easing. Technically gold and silver are in a neutral zone to bullish zone while copper is in oversold zone. The inverse correlation between gold and euro-US dollar will continue for the rest of the week. A weaker euro suggests that all is not well in eurozone and vice-versa. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 September, 2011
Gold fell $6.20 to $1769.80 in Asia before it rose to as high as $1795.99 in London and then fell back to almost unchanged at $1776.16 by about 9:30AM EST, but it then rose to a new session high of $1811.29 by midday and ended with a gain of 1.69%. Silver fell to $39.14 in Asia before it rose to as high as $40.278 in New York and ended with a gain of 2.25%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 September, 2011
New York took the gold price down to $1,770 as the SPDR gold ETF increased by 10 tonnes of gold. London turned the gold price around and took it back to the $1,794 level before it was Fixed at $1,792.00 and in the euro at €1,309.367 while the euro was trading at €1: $1.3686. Full Story
By: Ben Traynor, BullionVault - 20 September, 2011
U.S. DOLLAR gold prices rose to $1795 per ounce Tuesday morning in London – still 0.9% down for the week – while stock and commodity markets also gained despite yesterday's news of an Italian credit rating downgrade. Full Story
Gold’s successive higher base is getting lower after failure to break past $1850 which suggests that gold can fall to $1752 and $1680 in short term very quickly. Anyways the movement after the Federal Reserve meeting is the key for gold as it set the trend for October. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 September, 2011
Gold climbed $14.74 to $1826.64 by a little before 4AM EST, but it then fell back off in New York and ended near its late session low of $1770.84 with a loss of 1.98%. Silver slumped to as low as $38.962 and ended with a loss of 3.69%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 September, 2011
Asia held gold at the levels seen at the close in New York on Friday at around $$1,824. London then tried to take it lower, but there was clearly underlying strength. So much so that the morning Fix in London was set at $1,8817.00 and in the euro at 1€,332.307 with the euro itself standing at 1.3638. As the trading range on both precious metals narrows so the risks of a strong move either way rise. Full Story
By: Ben Traynor, BullionVault - 19 September, 2011
U.S. DOLLAR gold bullion prices slipped back to $1813 an ounce Monday lunchtime in London – roughly where they ended last week – following a sharp rise at the start of Asian trading that saw the gold price leap 0.8% in half an hour. Full Story
European finance ministers ruled out efforts to spur the faltering economy and showed no signs of taking up a proposal by U.S. Treasury Secretary Timothy Geithner to increase the firepower of the debt crisis rescue fund. Inviting Geithner to a euro meeting for the first time, the European finance chiefs said the 18-month debt crisis leaves no room for tax cuts or extra spending to spur an economy on the brink of stagnation. Full Story
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