By: Chris Mullen, Gold-Seeker.com - 7 August, 2009
Gold traded mostly slightly lower in Asia and London and then rose to see a $3.90 gain at $964.90 as the jobs data was released at 8:30AM EST before it quickly tumbled down to $953 and then rebounded back to see a slight gain again about an hour after the jobs data was released, but it then fell back off into the close and ended with a loss of 0.44%. Silver erased overnight losses and climbed to see a gain of $0.235 at as high as $14.885 by a little after 9AM EST before it also fell back off for most of the rest of trade, but it sill ended with a gain of 0.2%. Full Story
For gold, the chart is winding tighter and tighter, and a breakout on the chart will occur soon, either below $930 or above $970. December prices did hold above the 10-day moving average and near horizontal support in the mid-$950s, but at this stage, traders may want to be patient still and wait for gold to break out of this seven-month old, coiling chart pattern. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 August, 2009
Gold traded mixed in Asia and fell $5.60 to $958.60 in London before it climbed as much as $7.55 to $971.75 by about 9AM EST in New York, but it then fell back off into the close and ended with a loss of 0.33%. Silver fell over 1% in Asia and traded mixed in London before it rose as much as 30 cents to $15.03 by about 9AM EST in New York, but it also fell back off into the close and ended with a loss of 0.54%. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 August, 2009
Gold traded mostly slightly lower in Asia and London before it dropped almost 1% to as low as $958.70 by about 11AM EST in New York, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.27%. Silver fell almost 1% to $14.54 in Asia before it rallied back higher in London and saw a gain of $0.165 at $14.825 at about 9:30AM EST in New York and then fell back off to about unchanged by late morning, but it then rallied back higher in afternoon trade and ended with a gain of 0.48%. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 August, 2009
Gold fell slightly in Asia and London to see a $6.05 loss at as low as $950.90 by about 8AM EST, but it then soared higher for most of the rest of trade in New York and ended near its high of $969.95 with a gain of 1.03%. Silver fell almost 2% to $14.02 by late trade in Asia and held lower in early London trade before it also climbed back higher throughout trade in New York and closed near its high of $14.76 with a gain of 2.73%. Full Story
GoldCore believe that gold has hit or is soon to hit its traditional late summer low price prior to the traditional strong gold rally in the autumn and early winter months. Recent years have seen a late summer sell off with a low price being seen normally between mid July and mid August. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 August, 2009
Gold traded mixed in Asia and rose in London and morning New York trade to as high as $962.15 by a little after noon EST before it fell back off in the last hour of trade, but it still ended with a gain of 0.33%. Silver traded roughly 1% higher in Asia and rose in London to as high as $14.462 by about 9AM EST in New York before it fell back off a bit heading into the close, but it still ended with a gain of 2.29%. Full Story
With Congress now in summer recess, equity markets have breathed a sigh of relief that for another few weeks, the prospects of massive new government spending and burdensome regulations are delayed. While slight, a change of tone from the White House may be signaling that Democrats will be touting health-insurance reform more than health-care reform, which won’t come with such a visible sticker shock. Full Story
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