By: Chris Mullen, Gold-Seeker.com - 26 October, 2012
Gold fell $12.20 to $1700.50 in Asia before it rose to as high as $1718.50 by a little after 10AM EST, but it then fell back off into the close and ended with a loss of 0.04%. Silver dropped to $31.578 in Asia before it rebounded to $32.331 in New York, but it then also fell back off into the close and ended with a loss of 0.19%. Full Story
GOLD TRADING in London – heart of the world's wholesale bullion market – leapt in September. How come? "The continued economic uncertainty in the Eurozone and US, the end of the holiday period and the start of the Indian festival season boosted clearing turnover," says trade body the London Bullion Market Association, releasing the new data to members on Thursday. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 October, 2012
New York closed at $1,712.70 up $5.7. This morning, Asia and London dealers are trying to pull it back to $1,700. But it Fixed at $1,704.00 and in the euro at €1,316.440 €5 lower while the euro was at €1: $1.29.44 almost the same a yesterday. Ahead of New York’s opening gold stood at $1,704.33 and in the euro at €1,319.91. Full Story
U.S. DOLLAR gold prices traded just above $1700 an ounce throughout Friday morning in London, following an overnight reversal of yesterday's rally, while European stock markets traded lower this morning following losses in Asia, ahead of the release of US GDP data later today. Full Story
Gold edged down early Friday, on track for its third week of declines as the US dollar strengthened and momentum traders continued to exit positions or go short. Investors and dealers await the US CFTC commitment of traders figures due at 1930 GMT, after last week's data showed hedge funds and other big speculators decreased their long positions in gold to their lowest since the end of August. This is bullish from a contrarian perspective and shows that much of the short term speculative froth has been removed from the market. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 October, 2012
Gold rose to as high as $1717.86 by a little after 10AM EST before it fell back off a bit in midday action, but it still ended with a gain of 0.69%. Silver surged to as high as $32.232 and ended with a gain of 1.36%. Full Story
WHOLESALE gold bullion prices rallied to $1718 an ounce Thursday morning in London, less than 24 hours after dipping below the $1700 mark for the first time since the US Federal Reserve announced a third round of quantitative easing last month. Full Story
Although China as the 2nd largest world economy may be in an economic slump, investors are seeking out silver as a value alternative investment. Silver climbed 15% this year an ETF’s holding silver have gained 6.5%. Research from Beijing Antaike said that 33% of the country’s demand comes from jewellery and coins, the rest for use in photography, solar panels electrical appliances. Full Story
Sales of new single-family homes in the U.S. rose in September to the highest rate in more than two years. This confirms the improving picture in the housing market. The US economy is in better shape in September and if the US economy improves in November and December gold and other safe havens demand will be a in a bear zone. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 October, 2012
Gold traded mostly slightly lower in Asia and London, but it then fell back off in New York and ended near its early afternoon low of $1698.60 with a loss of 0.35%. Silver slipped to as low as $31.52 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 October, 2012
New York closed at $1,706.90 down $21.5. This morning, Asia and London dealers are trying to make it bounce at $1,711 before the Fix at $1,708.50 and in the euro at €1,321.039 €4 higher while the euro was at €1: $1.29.33 down a cent. Ahead of New York’s opening gold stood at $1,709.56 and in the euro at €1,320.74. Full Story
THE PRICE of gold bullion traded near 7-week lows for US and UK investors on Wednesday morning, maintaining the drop of 1% so far this week. Despite press reports that Greece will get a further two years to meet its "austerity" budget targets, the Euro currency held onto its drop below $1.30 after new German data showed consumer confidence falling to a 32-month low. Full Story
Investors await the US Fed’s policy statement today at 18:15 GMT but most economists expect no new policy initiates before the US presidential elections on November 6th. Recent rumours released claim Bernanke has no interest in renewing his 4 year term as Chairman of the US Federal Reserve’s Federal Open Market Committee. The festival season peak begins next month in India and physical demand is expected to increase. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 October, 2012
Gold edged up to $1730.08 in early Asian trade, but it then fell to as low as $1703.93 in afternoon New York trade and ended with a loss of 1.25%. Silver slipped to as low as $31.55 and ended with a loss of 2.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 October, 2012
New York closed at $1,728.5 up $8. This morning, Asia and London dealers pulled it down to lifted it to $1,717 before it was Fixed at $1,717.00 and in the euro at €1,317.223 while the euro was at €1: $1.3035 23 cents lower. Ahead of New York’s opening gold fell again to $1,712.70 and in the euro at €1,314.43. Full Story
WHOLESALE PRICES for gold bullion dropped below $1710 an ounce ahead of Tuesday's US session, its lowest level in over six weeks, as stocks and commodities also fell and the Dollar rallied, with two weeks to go until the US presidential election. Full Story
Gold edged down on Tuesday, in tandem with equities that relinquished gains, however demand from jewellers supported prices as investors await the policy statement from the US Federal Reserve meeting to be released on Wednesday at 18:15 GMT. Full Story
There is position squaring and rebuilding before the FOMC meeting tomorrow. The current fall in commodities is partly due to the same. We expect gold and silver to rise after the Federal Reserve meeting unless there is a very positive view on US growth. Monetary easing measures are already factored in by the markets but traders will be looking forward to hints of more easing. Just remember that this is the last FOMC meet before the US presidential elections. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 October, 2012
Gold saw a slight loss at $1721.30 by a little after 4AM EST, but it then climbed to as high as $1729.18 in New York and ended with a gain of 0.37%. Silver rose to as high as $32.434 and ended with a gain of 1%. Full Story
By: The Gold Report and Florian Siegfried - 22 October, 2012
Many precious metals mining stocks are now trading at bargain prices but the old "buy and hold" strategy no longer applies in this fluid market environment, says Florian Siegfried, CEO of Precious Capital AG. In this exclusive interview with The Gold Report, Siegfried says investors need to do their homework and pick their entry and exit points carefully. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 October, 2012
New York closed at $1,722.1 down$18.90. This morning, Asia and London dealers lifted it to $1,725 before it was Fixed at $1,725.00 and in the euro at €1,321.029 €6 lower while the euro was at €1: $1.3058, barely changed. Ahead of New York’s opening gold stood at $1,725.40 and in the euro at €1,320.93. Full Story
AFTER Monday's Asian session saw new six-week lows, the Dollar gold price recovered some ground to trade near $1725 an ounce Monday morning in London, while stocks and commodities were broadly flat and US Treasury bonds fell. Full Story
Gold edged down on Monday, as pressure from speculators exiting long positions and continued concern about the health of the global economy dampened interest. When equities fall market players often have to cash in their long gold positions to cover losses. Since the current pullback lacklustre interest in the yellow metal may force investor to retreat into the US dollar. Friday’s US existing home sales figure for September came in at 4.75M which was a bit higher than the 4.7M that was expected. Full Story
Global economic risk once has once again haunted investors and that resulted in commodities and stock markets falling last week. Crude oil and energies have remained firm which makes me believe that the fall in commodities and particularly gold and silver will not be sustainable. I will be looking closely watching at the performance of the US economy from November onwards and if the US economy falters in next month then all the positive things on the US economy have been manipulated. Full Story
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