Gold rose as much as $5 in Asia, but it then fell back off in London, traded mostly slightly lower in New York, and ended with a loss of 0.42%. Silver rose to over $12.90 in Asia, but it also fell back off in London, remained notably lower in New York, and closed with a loss of 1.79%. Full Story
GOLD FELL BACK from an overnight rally in Asia during in the first-half of London trade on Friday, giving back $3.50 per ounce to record an AM Fix of $663.50. "Yesterday's fall in the gold market was a pure reaction to the equities market," reckons Ng Cheng Thye, head of precious metals at Standard Bank Asia. Full Story
Another day in paradise for the bears. Volatility was very high with stop losses getting triggered. This is just an aftermath of liquidity driven markets. Call it risk aversion by investors or by whatever phrase, gold august future plunged from $666 to $652.80 in less than three minutes. Full Story
Gold traded a couple of dollars higher in Asia, but it then began to fall off in late London trade and continued to drop in New York to fall to as low as $659.90 by early afternoon before it bounced back higher in the last hour of trade and ended with a loss of 1.69%. Silver followed a similar pattern and fell to as low as $12.65 before it rebounded over 1% off its low in afternoon trade and ended with a loss of 1.91%. Full Story
SPOT GOLD PRICES held flat from last night's US close by lunchtime in London on Thursday, pulling back $2 from an overnight spike to trade at $675.50 per ounce. Full Story
The spill over effect of US housing slump is beginning to show up. Companies and fund manager are finding it hard to sell their debt. Kohlberg Kravis Roberts & Co.'s banks, led by Deutsche Bank AG, failed to sell 5 billion pounds ($10 billion) of senior loans to fund the leveraged buyout of Alliance Boots Plc. Full Story
Gold fell about $4 in Asia, dropped another $4 in London, and then fell even further in New York to see an over 2% loss at $670.30 by late morning. It then rebounded about 0.5% off its low in afternoon trade, but it still ended with a loss of 1.56%. Silver dropped to as low as $13.02 by late morning in New York before it also rebounded a bit into the close, but it still ended with a loss of 2.02%. Full Story
SPOT GOLD PRICES fell below $680 for the first time in four sessions early Wednesday, sinking 1.3% from Tuesday's peak to dip beneath $677 per ounce – the current trendline of the rally starting in late June. Full Story
The US dollar’s gain and subsequent profit taking in gold, silver and other precious metals is due to risk aversion ahead of Japanese elections next week. Fall in global stock markets between 1.50% to 2.00% acted as fodder for the bears. Reminds me of February 27, 2007, but it’s too early to jump to conclusion. Full Story
Gold traded mostly slightly higher in Asia and London before it spiked about 1% higher in early New York trade to above $686 by about 8:45 AM EST, but it then fell back off for most of the rest of trade and ended around $3 off its highs with a gain of 0.53%. Silver rocketed near $13.50 and saw close to 2% gains before it also fell back off in later New York trade, but it still ended with a notable gain of 0.83%. Full Story
The gains are primarily due to the dollar continuing to weaken against both the Euro and the Yen. Today, the dollar hit a two month low against the Yen stemming from the sub-prime fallout, which the market is clearly expecting to continue its negative impact on the dollar. The dollar has fallen to a point where additional sales have been triggered, further reducing its value. Full Story
SPOT GOLD PRICES recovered $683 per ounce by late morning in London on Tuesday, but remained shy of yesterday's 11-week peak $2 higher. "There is good-sized buying out there with the current market price," said Paul McLeod at Commerzbank in New York to Reuters late on Monday. "We are also seeing the buyers move up their targets a little bit. I think the market will be supported underneath here." Full Story
Nickel was the worst performer among the metals yesterday as it fell five percent after a sharp rise LME inventory. Nickel LME stocks rose by 492 tonnes to 11,346 tonnes, which is the highest since June 2006. Full Story
Gold traded about a dollar lower in Asia and London before it extended its losses in late New York trade and ended near its low of the session with a loss of 0.40%. Silver saw over 10 cent gains in Asia, but it then fell back off in London and New York and closed with a loss of 0.30%. Full Story
THE PRICE OF GOLD traded in a tight range early Monday, briefly nearing Friday's two-month high of $685 per ounce before recording the highest Gold Fix in London since May 9th at $683.50. "Gold seems to be supported at the moment by both the weak Dollar and strong crude," said a Bank of China gold trader to Bloomberg this morning. Full Story
Why invest in commodities/hard assets and not paper assets. Retail Investors as well as fund managers now suddenly think gold is worth an investment. Full Story
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