By: Chris Mullen, Gold-Seeker.com - 27 August, 2010
Gold rallied from a low of $1233.83 in London to as high as $1242.20 by a little before 9AM EST before it swung back down to $1232.30 by midmorning in New York trade and then climbed back near its earlier high by a little after 11AM, but it ultimately fell back off into the close an ended with a gain of just 0.02%. Silver climbed to as high as $19.323 before it also dropped back off in the last couple hours of trade, but it still ended with a gain of 0.37%. Full Story
THE PRICE OF GOLD held flat early in London today, heading into the long August Bank Holiday weekend some 0.8% higher from last Friday's close against the Dollar, Euro and Sterling. The Silver Price stood 5.7% up for the week, nearing its best weekly close since late-June. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 August, 2010
Overnight the gold price stepped back a step or two and settled at $1,235 overnight. The market is cautious now as the biggest resistance from $1,240 to $1,260 stands in the way of more rises. The morning Fix was $1,234.50. More bad U.S. economic news is expected today, so it could be a frantic Friday again. Full Story
Markets participants are cautious ahead of Ben Bernanke’s speech which is expected to focus on the uncertain outlook for the US economy. Asian stock markets were mixed overnight and European indices are under pressure today. Investors continue to pile into government bonds and German Bund futures rose 14 ticks. The Yen and the British pound are slightly weaker today in tentative trading. Full Story
The movement in commodities suggests month end position squaring and rebuilding. Markets expect more bad news from the global economic front which is preventing traders from going short in gold and other safe havens. Silver is trying to catch with gold and if it is able to do so then spot silver will rise to $21.00 soon. Base metals and energies rose on the back of better than expected US initial jobless claims. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 August, 2010
Gold climbed to as high as $1244.20 in London, but it then fell back off for most of the rest of trade and ended with a loss of 0.28%. Silver rose to as high as $19.151 before it also fell back off, but it still ended with a gain of 0.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 August, 2010
The gold price is fighting resistance all the way up now. It has to break through $1,260 to show convincingly that it has done so. This level represents a new high, if it can do it. Full Story
THE PRICE OF GOLD and silver touched new 8-week highs in London dealing on Thursday, while the Japanese Yen retreated further and developed-world stock markets extending yesterday's rally on Wall Street. Full Story
Gold is slightly lower while silver has risen again today after they rose 1% and 3% respectively yesterday as investors moved into the safety of AAA rated government bonds and the precious metals. Both gold and silver have remained firm in Asian and early European trading despite an increase in risk appetite as seen in the bounce in Asian and European equity markets. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 August, 2010
Gold climbed almost $10 in London and rose to as high as $1241.20 by about 10:30AM EST before it fell back off a bit in late trade, but it still ended with a gain of 0.7%. Silver rose throughout most of the day and ended near its late session high of $19.02 with a gain of 3.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 August, 2010
Asia held the gold price up at levels New York took it up to, but then the London market felt it should rise even more. At the morning Fix, a price of $1,237.50 was set with two of the five bullion banks net buyers at that price. Full Story
THE PRICE OF GOLD rose to an 8-week high Wednesday morning in London, rising 2.2% from yesterday's spike lower as world stock markets continued to slide in thin trade. Full Story
Gold and silver rose on the back of US housing woes. Sales of previously owned U.S. homes took a record plunge in July to their slowest pace in 15 years as the wind went out of the housing sector's sails and underlined a struggling economy. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 August, 2010
Gold fell as much as $16.50 to $1210.10 by about 8:30AM EST before it rallied to see an $8.75 gain at $1235.35 and then fell back off a bit into the close, but it still ended with a gain of 0.33%. Silver dropped to as low as $17.73 and climbed to as high as $18.452 before it also moderated its gains a bit in the last few hours of trade, but it still ended with an impressive gain of 2.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 August, 2010
We have arrived at a day when what you see is not what you think is happening. The media tells us the U.S. Dollar is strengthening. Against the Pound Sterling it is, but against the Yen and the Swiss Franc it is weakening. Against the Euro it is strengthening. Or is this Euro weakening? Full Story
THE SPOT PRICE of wholesale gold dropped to a 7-session low Tuesday lunchtime in London, as world stock markets fell hard in thin trade and the Japanese Yen reached a new 15-year high vs. the Dollar. Full Story
The US summer trading is coming to an end. This summer has been accompanied by (1) higher stock markets, the US dollar gaining but paring some of its gains against the euro and other currencies. The rise in German GDP to record levels has supported euro and may continue to do so for some more time. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 August, 2010
Gold saw slight gains in Asia before it fell back off in London and midmorning New York trade to as low as $1221.60 by about 11AM EST, but it then rallied back higher into the close and ended with a loss of just 0.06%. Silver fell to as low as $17.875 by late morning in New York before it also rallied back higher in the last couple of hours of trade and ended with a gain of 0.11%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 August, 2010
Gold got off to a slow start on Monday morning. It tried to go through $1,230 gain but pulled back in London to Fix at $1,227.00. After the Fix, but well ahead of New York, gold slipped another couple of Dollars leaving a directionless market waiting on the States. Once New York appeared on the horizon gold moved up $1. Full Story
THE PRICE OF GOLD in wholesale dealing held flat Monday morning in London, easing down to $1226 an ounce as European stock markets rose but government bonds and traded commodities were also unchanged. Full Story
Gold traded sideways in Asian trade, hovering near last week's close at $1,228/oz. There was a brief spike to $1,231.35/oz in early European trade prior to sharp and determined selling. Gold remained marginally higher until the London AM fix whereupon there was a further wave of selling which took prices down to $1,225.30/oz. Gold is lower in most currencies except the euro and the Swiss franc which are slightly weaker this morning (see Cross Currency Rates). Full Story
Silver, copper, zinc, lead and Nickel futures are expiring next week. There will be position squaring and rebuilding in them this week. Gold has room for further gains but with every rise the chances of a mild correction will always be there. Full Story
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