By: Chris Mullen, Gold-Seeker.com - 24 April, 2009
Gold rose $7.90 to $913.00 in late Asian trade in reaction to the news that China has increased its gold reserves by 76% to 1,054 tons before it fell back off in London and early New York trade to see a $0.95 loss at $904.15 at about 11AM EST, but it then shot back higher in the last two and a half hours of trade and ended near its new session high of $913.50 with a gain of 0.83%. Full Story
The nearly two-month long correction in gold prices may be nearing a turning point. A two-wave correction apparently has formed on the charts, culminating with a small double-bottom formation at the $865 level. The next overhead resistance level is $916, which would be a test of the downward sloping trend-line. Full Story
THE SPOT PRICE OF physical gold bullion added a further $8 per ounce to yesterday's $13 jump in Asian trade Friday, hitting its best level in April so far on news that the Chinese government has sharply increased its Gold reserves. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 April, 2009
Gold and silver held in a tight range at slightly higher levels in Asia and London, but they then exploded higher between 10 and 11AM EST and held near their late morning highs of $908.60 and $12.863 into the close. Gold ended with a gain of 1.53% while silver closed with a gain of 3.66%. Full Story
Gold prices opened the day strong and finished up over $12.00 per ounce, at 891.3. A lower dollar helped keep gold lifted throughout the session. Talks of bankruptcy in the auto-sector shifted from GM to Chrysler today as the gulf between what the US government is asking secured lenders to give up for a stake in the company is apparently very wide. Full Story
THE PRICE OF PHYSICAL gold held above a one-week high early Thursday in London, recording its best Gold Fix in seven sessions at $894 an ounce as European stock markets flipped in and out of the red. Full Story
On Wednesday the UK's Debt Management Office (DMO) announced they would be issuing a whopping £220 bln ($319 bln) in gilts this fiscal year. That's a 50% increase from the £146.4 billion borrowed in the fiscal year ended 31-Mar, and well above the £180 bln the market was expecting. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 April, 2009
Gold traded slightly higher in Asia and London and climbed about 1% to almost $890 at the open in New York before it fell back to around $886 for the rest of the morning, but it then climbed to a new session high of $892.97 in afternoon trade and ended near that high with a gain of 1.13%. Silver climbed to over $12.30 by late morning in New York before it fell back to about $12.20 by a little after noon EST, but it then climbed back near that earlier high in the last hour of trade and ended with a gain of 2.24%. Full Story
It appears that stocks have lost some steam, as today’s rally fizzled in the last half hour of trading this afternoon. Likely, stocks may need to return in order to consolidate gains and find better support at lower levels. Will a retreat in stocks positively impact gold though? Full Story
SPOT PRICES for physical gold held in a tight range early Wednesday in London, trading $10 below yesterday's one-week high at $885 an ounce for US investors. European equities turned lower, meantime, on news of sharp profit-drops at Boeing and AT&T, while crude oil held its breath below $47 per barrel ahead of today's US energy inventory report. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 April, 2009
Gold rose to see a gain of $9.40 at $894.95 at about 8:30AM EST before it fell to as low as $880.10 by late morning in New York, but it then bounced back higher in the last couple of hours of trade and ended with a loss of just 0.46%. Silver rose to as high as $12.247 before it dropped down to $11.97 just before noon EST, but it also rebounded in late trade and ended with a loss of just 0.66%. Full Story
What it will take for gold to ‘explode’ higher in an inflationary spiral, gold bulls must be asking themselves? The key answer is simply inflation. Despite yesterday’s knee jerk reaction at the governments sly, backdoor idea of nationalizing the banks, the news that slipped by most was the extraordinary deflationary readings out of Spain. Full Story
THE SPOT PRICE of physical gold rose as the US opening approached on Tuesday, undoing all of last week's 3.5% drop and adding to yesterday's rally at $894 an ounce. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 April, 2009
Gold held near unchanged in Asia and traded just slightly higher in London before it climbed steadily higher in New York and ended near its high of $888.25 with a gain of 2.16%. Silver saw slight gains in Asia and jumped to above $12 shortly after the open in London before it added to its gains in New York and ended near its high of $12.19 with a gain of 2.37%. Full Story
THE PRICE OF PHYSICAL GOLD rose as the US opening drew near on Monday, jumping 1% from an AM Gold Fix here in London of $870 per ounce after losing value for the last four weeks running. Full Story
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