Gold traded mostly slightly higher in Asia and London before it accelerated higher in New York and ended near its late session high of $1538.37 with a gain of 0.89%. Silver surged to as high as $38.18 by midmorning in New York before it fell back off a bit into the close, but it still ended with a gain of 1.42%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 May, 2011
Gold picked up towards New York’s close having fallen back from its opening. Asia continued to lift it up another $8 before London opened. London saw it hold these levels before Fixing at $1,527 and in the euro at €1,074.09. The dollar, amazingly, weakened against the euro [with all its dramatic problems] to stand at €1: 1.4240 as New York opened. Full Story
THE WHOLESALE MARKET gold price traded in a $3 range around $1526 an ounce Friday morning London time, while stocks and commodities rose and the Euro rallied in spite of concerns the IMF may halt the latest payment of Greece's €110 billion bailout. Full Story
By: Chintan Karnani, Insignia Consultants - 27 May, 2011
The US dollar is weaker across the board on US economic worries. Greece debt fears will prevent traders and investors from going short on the weekend. Traders and investors will either go long on the weekend or close long positions. This will result in further gains in commodities. Full Story
Gold climbed to as high as $1530.89 in Asia before it fell back to $1515.18 in London and then rallied back to $1525.85 at about 9AM EST, but it then fell to a new session low of $1514.53 by midmorning in New York and ended with a loss of 0.27%. Silver climbed to as high as $38.833 and dropped to as low as $36.29 before it climbed back higher, but it still ended with a loss of 0.72%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 May, 2011
Gold held its closing levels of New York in Asia but after London opened, but before the morning Fix, slipped back to $1,520 and back to €1,074 in the euro, before picking up ahead of the Fix. The last few days have continued to show that the London Fix sets the price for the day and is the price to which investors should pay attention for price guidance. Of note too, has been the way New York has lifted gold prices as new U.S. investments are made into the SPDR gold Exchange Traded Fund and COMEX Gold Trust. Full Story
THE DOLLAR price to buy gold slipped on Thursday morning – falling to $1519 per ounce – having retested three-week highs in overnight trading. A rally on Asian stock markets failed to carry over into Europe, while prices for major commodities also showed limited movement. Full Story
Gold and silver are lower today with profit taking, Chinese bond buying and increased risk appetite being cited for the price falls. Gold is marginally lower in all currencies and is 0.2% lower in U.S. dollar terms despite the dollar coming under selling pressure again this morning. Risky assets have recovered somewhat from recent losses with Asian and European equities and commodities receiving a bid. Full Story
By: Chintan Karnani, Insignia Consultants - 26 May, 2011
The slowdown in US April durable goods order implies that the current liquidity and interest rate scenario will not change till end September. This implies more speculative inflows into commodities as a whole. Full Story
Gold climbed to as high as $1532.19 before it fell back off a bit in late trade, but it still ended with a gain of 0.2%. Silver climbed to as high as $37.89 and ended with a gain of 3.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 May, 2011
Gold continued to rise from New York’s close through Asia’s time and into London, where it was Fixed at the morning Fix at $1,527 and in the euro at €1,084.13 while the dollar’s rally appears to be slowing down. The big question is, ‘have gold and silver stopped falling – which way next?’ [A question we will address in the next issue of the Gold Forecaster and Silver Forecaster]. Full Story
U.S. DOLLAR gold prices rose to a three-week high of $1528 an ounce Wednesday morning London time, while commodity markets – like global stock markets – failed to add significantly to the gains they made Tuesday after Goldman Sachs issued a bullish note on the sector. Full Story
Europe’s debt crisis has seen gold prices climb to new record highs in euros and British pounds at EUR 1,087.80/oz and GBP 944.93/oz respectively. Contagion concerns are mounting due to the failure of the ECB, the IMF and respective governments to tackle the sovereign debt crisis. Full Story
Gold climbed to as high as $1527.60 by a little after 10AM EST before it fell back off a bit in the last few hours of trade, but it still ended with a gain of 0.53%. Silver surged to as high as $36.395 before it also fell back off, but it still ended with a gain of 0.86%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 May, 2011
Gold rose in response to the degrading Eurozone crisis. In the euro gold again touched new highs at €1,080.41. In the dollar it rose to $1,519 ahead of London’s opening, in Asia. The dollar stands at $1.4065 early in London. Full Story
U.S. DOLLAR gold prices hit $1523 – their highest level for two weeks – on Tuesday morning London time, while stocks and commodities traded flat. Gold prices in the Euro and Pound Sterling, meantime, set record highs – €1078.85 and £942.22 per ounce respectively – at Tuesday morning's London Fix. Full Story
Gold is marginally higher in most currencies today as the yen, the dollar and the pound are all weaker. Gold has reached a new record nominal high in British pounds due to the growing risk of stagflation in the U.K. and due to Moody’s somewhat belated threat to cut its ratings on most UK banks. This was not helped by Chinese ratings provider Dagong Global Credit downgrading the U.K.’s local and foreign currency sovereign credit rating from AA- to A+ with a negative outlook. Full Story
Gold jumped to $1518.55 shortly after the open of trade in Asia before it dropped back down to $1503.76 by a little after 8AM EST, but it then rallied to as high as $1515.28 in New York and ended with a gain of 0.39%. Silver surged to $35.42 in early Asian trade before it fell back to $34.382 a little after 8AM EST and then also bounced back higher in New York, but it still ended with a loss of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 May, 2011
It doesn’t look special, but today is proving remarkable! In the euro the gold price is at record levels at €1,078.01. In the dollar it looks OK at $1,509 but it has been at $1,578 before and is now nearly $70 off its peak. Why? The dollar stood at a recent high at €1: $1,3997 early in London. It has started to weaken slightly, but its rally looks intact still. So the dollar is looking strong, or is it the euro that’s looking weak? Investors have to discern whether it’s gold that’s performing or currencies that are underperforming. Full Story
THE DOLLAR price to buy gold was trading in a tight range around $1510 per ounce on Monday morning London time – a 1% gain since the beginning of last week – as stocks and commodities fell after ratings agencies issued new warnings on Eurozone government debt. Full Story
The euro, global equities and bonds in peripheral Eurozone countries are all lower this morning on heightened concerns about the debt crisis in the Eurozone. The euro has fallen against all currencies and is now at a record low against gold at EUR 1,080.21/oz. Silver is lower against most currencies but is higher against the Australian dollar and the euro ( EUR 24.80/oz). Full Story
By: Chintan Karnani, Insignia Consultants - 23 May, 2011
European sovereign debt default risk coming to surface along with a weaker US dollar resulted in gold and silver rising on Friday night. Technically gold, silver, copper and crude oil are in a bullish zone and can rise for most of the week. Full Story
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