By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 February, 2011
With the oil price running up to $120 at one point speculators closing short positions on the gold market, ensured the gold price hit $1,408 at one point. This morning saw Asia standing on the sidelines letting the gold price drift back which it did in London to be Fixed there at $1,405.00 in the morning. Full Story
BOTH GOLD and physical silver prices failed to hold onto a sharp overnight bounce in London trade on Friday, trading below $1404 and $33 respectively per ounce as volatility in crude oil remained at record levels but world stock markets rose for the first day in six. Full Story
For the time being the fall in gold, silver and crude oil is just profit taking after a spectacular rise since last Friday. This is just a technical correction which if continues till Monday will start the beginning of a few days of a bear trend. Libya is not over yet. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 February, 2011
Gold fell $5.45 to $1407.70 in Asia before it climbed back higher in London and saw a $4.95 gain at $1418.10 by a little after 8:15AM EST and then fell back to $1408.12 by about 11:15AM, but it then rallied back higher in the last couple of hours of trade and ended with a gain of 0.14%. Silver rose 28 cents to $33.76 in Asia before it fell to see a $0.55 loss at $32.93 at about 11:15AM EST and then also bounced back higher in late trade, but it still ended with a loss of 0.87%. Both metals are falling rather markedly in after hours access trade at the time of writing, however. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 February, 2011
Gold showed it had put the $1300’ in its wake yesterday as it moved up. The Fix in London this morning was at $1,414.50 and €1,025.59. After the Fix, it stood at $1,416.65 and €1,028.27 ahead of New York’s opening. Full Story
THE PRICE OF GOLD rose further in London trade Thursday morning, hitting new 2011 highs for Dollar investors as Brent crude oil jumped to $119 per barrel and a raft of economic analysis warned of "stagflation" ahead for the global economy. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 February, 2011
Gold fell a few dollars in Asia before it rebounded and saw slight gains in London, but it then accelerated even higher in the last four hours of trade in New York and ended near its late session high of $1416.40 with a gain of 0.94%. Silver climbed to as high as $33.768 and ended with a gain of 1.86% at a new 30-year closing high. Full Story
THE WHOLESALE LONDON PRICE of physical gold held onto this week's early rise again on Wednesday, pushing back above $1400 per ounce as world stock markets fell and crude oil rose to new two-year highs as fresh anti-government protests hit the Gulf state of Bahrain. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 February, 2011
After a pullback to the lower $1,390’s which is now support, gold rose overnight and in early London time to $1,4000 as the U.S. dollar slipped against most currencies to $1,3715. This left gold in the euro down at €1,020.78 down €4. With the U.S. on holiday on Monday gold broke up to $1,408 before Asia began to take it back to $1,394.50 and €1,024.84 at London’s morning Fix. Full Story
Gold and silver will fall if and when focus shifts away from the Middle East and North Africa region. Libya is trying to crush democratic moves, other rulers are also scared. Bahrain formula one grand prix has been postponed. This suggests that the situation can go out of hand in the middle east. Overall trend is bullish for gold and silver and corrections will be a part and parcel of a long term bull rally. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 February, 2011
Gold climbed throughout most of trade on Monday and rose $23.25 to $1411.15 last night before it fell back to $1392.60 at around 5AM EST, but it then climbed back to as high as $1406.35 in New York today and ended with a gain of 0.87% from last Friday’s close. Silver surged $1.93 to a new 30-year high of $34.32 last night before it fell back to $32.383 at around 5AM EST, but it also climbed back higher in London and New York and ended with a gain of 1.48% from last Friday’s close. Full Story
THE PRICE OF GOLD and physical silver whipped sharply in London trade on Tuesday, falling hard only to rally as New Zealand's second-biggest city Christchurch was struck by an earthquake and Libyan dictator Colonel Gaddafi's defiant appearance on state TV led to accusations of "genocide" and "the government killing its people" by his own diplomats in the Unitd States. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 February, 2011
Gold and silver broke through resistance on Friday at $1,380 and just a business day later sits at $1,397.30 ahead of the London Fix. The dollar is slightly weaker only at $1,3697 leaving gold in the euro at €1,020. Again the dollar is not an issue today. Gold is independent of both right now, walking its own road. While SPDR gold ETF holdings fell half a tonne on Friday it has not affected gold prices. Just ahead of New York’s opening the dollar gold price was at $1,386.0. Full Story
THE PRICE OF GOLD broke above $1400 per ounce and the silver price jumped above $33.50 in London trade on Monday, extending last week's strong gains on what a growing number of market professionals call "safe haven buying" amid fresh turmoil in the Middle East. Full Story
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