By: Chris Mullen, Gold-Seeker.com - 7 December, 2007
Gold traded mostly slightly higher in Asia and mostly slightly lower in London before it spiked up to $805.15 in early New York trade, but it then fell back off in the next hour to as low as $791.05 ahead of a bounce higher into the close that left it with a loss of 0.86%. Silver followed a similar pattern and spiked to $14.53 before it plummeted to $14.22 between 9AM and 10AM EST and ended 12 cents off that low with a loss of 0.69%. Full Story
SPOT GOLD PRICES flipped around the $800 mark early Friday in London, approaching the US open almost 2% above yesterday's start as key US jobs data loomed. Full Story
Nothing Official about precious metals and energies sharp rise after the Bank of England interest rate cut. I am more concerned about the plunge in base metals particularly lead, which fell nearly six percent. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 December, 2007
Gold fell to see over $10 losses at $784.82 by early trade in London, but it then spiked higher in morning New York trade and remained near its high of $805.60 into the close to end with a gain of 0.51%. Silver dropped to as low as $13.96 before it spiked to $14.533 and closed with a gain of 0.98%. Full Story
Gold was down $3.90 to $797.20 per ounce in New York yesterday but silver was up 3 cents to $14.30 per ounce. Gold has drifted downwards in Asian and early European trading and is trading at $786.50/787.00 per ounce at 1200 GMT. Gold also fell in pounds sterling and euro to £389 GBP (down from £394) and €541 EUR (down from €546). Full Story
SPOT GOLD PRICES continued to slide early Thursday, falling more than 1% from Wednesday's New York close to trade at $786 per ounce by the time the Bank of England made the first cut to Pound Sterling interest rates in two years at midday in London. Full Story
The Bank of England may come up with a surprise interest rate cut today while the European central bank is expected to continue with its neutral approach and is not expected to give any signals of an interest rate cut in the near future. We expect the Fed to cut discount rates by quarter of a percentage along with interest rates next week, which will start a new phase of US dollar bashing. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 December, 2007
Gold saw over $5 gains at as high as $806.70 by late trade in Asia before it fell in London and found a loss of about $10 by midmorning in New York, but it then rallied back higher in the last few hours of trade and ended with a loss of just 0.49%. Silver rose to as high as $14.39 and fell to as low as $14.10 before it also rallied back higher in late trade and ended with a gain of 0.21%. Full Story
Gold was up $12.90 to $801.10 per ounce in New York yesterday and silver was up 20 cents to $14.27 per ounce. Gold has traded sideways in a range between $800 and $808 in Asian and early European trading and is trading at $803.50/804.00 per ounce at 1200 GMT. Full Story
SPOT GOLD PRICES held above $800 per ounce early Wednesday even as the US Dollar rose on the world's currency markets, while crude oil broke back above $90 per barrel after the Opec oil cartel agreed in Abu Dhabi to keep output quotas unchanged. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 December, 2007
Gold fell to as low as $786.38 by late trade in Asia before it rallied back higher in London and rose to as high as $800.20 by midmorning in New York. The yellow metal next dropped back down to $795.69, but it then rallied back higher in afternoon trade and made a new session high at $805.40 ahead of a $4.30 dollar retrace into the close that left it with a gain of 1.64%. Silver dropped to $13.98 by late trade in Asia before it also meandered its way higher for most of the rest of trade and ended with a gain of 1.42%. Full Story
Gold was up $5.10 to $788.20 per ounce in New York yesterday and silver was up 9 cents to $14.07 per ounce. Gold rallied after the close in the New York Access Market and subsequently was flat in Asia before rallying again in trading in London to $794 per ounce at 1200 GMT. Full Story
SPOT GOLD PRICES recovered an overnight dip by lunchtime in London on Tuesday, trading above $795 per ounce as European stock markets stood 1% lower for the day. US bond prices held near recent highs while the Euro rose on the currency markets, gaining almost one cent from last night's two-week lows to the Dollar. Full Story
Markets are positioning themselves for 2008. The key concern for all of them is the extent of recession (if any) in US and what will be the top for crude oil prices. Energy prices and US and growth factors in other G7 nations will dictate the US dollar in 2008. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 December, 2007
Gold rose to as high as $791.45 in Asia before it fell to as low as $776.88 in London, but it then rallied back higher in New York trade and ended with a gain of 0.65%. Silver topped $14.00 in Asia before it fell to as low as $13.75 in London, but it then rallied back higher in New York and climbed to as high as $14.215 ahead of a slight dip from that high in afternoon trade that left it with a gain of 0.64%. Full Story
Gold was down $12.10 to $783.10 per ounce in New York on Friday and silver was down 25 cents to $13.98 per ounce. Gold showed strength in early trading in Asia and rallied to $792 but in early European trading it has given up these gains and has traded back down to $783.50 per ounce at 1200 GMT. Gold is trading at £379 GBP (down from £385) and €534 EUR (down from €540). Full Story
Rise in London Inter bank Offered Rate (LIBOR) last week and a fall in energy and precious metals and gains in the US dollar once again reflects that in the short term global markets are nothing but driven by liquidity concerns. Full Story
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