By: Chris Mullen, Gold-Seeker.com - 23 December, 2010
Gold saw slight gains in Asia before it fell back off in London and early New York trade to see a $14.56 loss at as low as $1371.94 by about 10AM EST, but it then bounced back higher in the last few hours of trade and ended with a loss of just 0.38%. Silver fell to as low as $28.933 before it also rallied back higher and ended with a gain of 0.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 December, 2010
As Asia’s day became London’s morning the gold price in dollars appeared to fall. It went from $1,388 to $1,384. While this is not a large move it highlights an important feature and that is that the euro is falling faster against the dollar than before. In the euro the gold price is very close to its €1.062 level and is standing at €1,056.9. A look at the performance of gold in the euro over the last few days shows a consistent strength. Full Story
Gold has fallen marginally in all major currencies today. Market participants are winding down before the holiday break and further profit taking and year end book squaring is seeing volume fall and gold remain in a tight range. Gold will likely get direction from the durable goods orders, consumer sentiment and new home sales data later today. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 December, 2010
Gold rose $3.13 to $1390.83 in early London trade before it fell to see a $2.42 loss at $1385.28 in midmorning New York trade, but it then bounced back higher in the last few hours of trade and ended with a loss of just 0.09%. Silver climbed to $29.475 and fell to $29.183 before it also rallied back higher and ended unchanged on the day. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 December, 2010
Yesterday we forecast a statement from the I.M.F. that they had completed their sales of gold, all 403.3 tonnes of it. Today they made the announcement to this effect. It amazes us that few have understood the significance of this [more below]. The U.S. took the gold price down close to $1,380, turned and Asia took the price back up to $1,388. The p.m. gold Fix was $1,383.00 [€1,052.43]. Asia and London have a far more positive outlook on the gold price, as we see in the morning Fixes compared to the p.m. Fixes. That’s because demand is continuing to rise in Europe and the east. Full Story
WHOLESALE PRICES for gold moved sideways around $1390 per ounce in London on Wednesday morning, little changed as world stock markets also held flat but crude oil crept above $90 per barrel. Silver bullion traded inside this week's tight range below $29.50 per ounce. Full Story
Gold and silver edged moderately higher again yesterday in most currencies. Profit taking and book squaring prior to year end have led to lacklustre range bound price action. News that the IMF gold sales to central banks has been completed, saw gold prices rise slightly. Despite the gold sales being off market - directly from the IMF to creditor nation central banks diversifying monetary reserves - the potential overhang of IMF gold supply and perceived risk was one of the few bearish factors in the gold market. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 December, 2010
Gold gained as much as $6.48 to $1391.98 at the open of trade in New York before it fell to see a $4.60 loss at $1380.90 by a little before 10AM EST, but it then rallied back higher for most of the rest of trade and ended near its earlier high with a gain of 0.16%. Silver jumped over 1% to as high as $29.563 before it fell back to as low as $29.005 in midmorning New York trade, but it also rallied back higher for most of the rest of trade and ended near its earlier high with a gain of 0.24%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 December, 2010
The gold price continued to recover in Asia and in London today lifting the gold price from the p.m. Fix of $1,380 and €1,049.83 to $1,386.00 and €1,053.43 at this morning’s Fix in London. These prices are close to the bottom end of it present trading range as the developed world prepares for its holiday season and India and China, in a different world, continues to buy gold in the festive season as their middle classes grow and their love of gold for security prompts them to continue buying. Full Story
THE PRICE OF GOLD in professional wholesale dealing touched a 4-session high early Tuesday at $1390 per ounce, rising for Euro and UK investors as world stock markets hit new two-year highs. Platinum prices rose to $1715 the ounce at today's London Fix, gaining some 14.6% higher from New Year 2010. Full Story
Gold is up slightly after yesterday's 0.5% gain and appears to be consolidating just below $1400/oz. Gold is being supported by growing energy and food inflation and continued sovereign debt concerns. Recent days have seen the cost of insuring French debt rise to record levels and France's AAA rating is now at risk due to the spreading Eurozone debt contagion. Nor is the US immune to the debt crisis as many US cities are at risk of defaulting in 2011 (see news below). Gold may be anticipating problems in this regard in 2011 - as it has done in recent years. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 December, 2010
Gold climbed as much as $10.29 to as high as $1388.19 in Asia before it fell to see a $1.85 loss at $1376.05 by about 10:30AM EST in New York, but it then rallied back higher in the last few hours of trade and ended near its earlier high with a gain of 0.55%. Silver rose to $29.38 and fell to $28.76 before it also rallied back higher and ended with a gain of 0.48%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 December, 2010
The gold price recovered this morning in London to Fix at $1,381 after Friday’s p.m. Fix of $1,368.50. With Asian demand being the new kid on the block and Indian demand muted on Friday because of their holiday, forces that history has not factored in before are at work here. While in the developed world there may be a case to answer that this time of year sees a setback, we would be uncomfortable in saying that it will be much, if at all. Asia doesn’t recognize the developed world’s festive season and the influence on the gold price is moving eastwards. Full Story
THE PRICE OF GOLD held onto a $10 rise from the start of Asian trade in London on Monday, priced around $1385 per ounce as Western stock markets ignored fresh saber-rattling between North and South Korea. The single currency Euro dropped to a 2-week low, pushing the gold price in Euros up to an 8-session high of €33,900 per kilo. Full Story
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