By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 January, 2011
Gold fell again to $1,312 before recovering slightly to $1,315 before the Fix which was set at $1,316.00 and €957.59. Ahead of New York’s opening gold was trading at the same level as the Fix. Full Story
THE PRICE OF gold failed to rally from last night's tumble in Asian and London trade on Friday, extending Jan.'s sharp losses to hit four-month lows in the US Dollar and six-month lows against the Swiss Franc and "commodity currency" Australian and Canadian Dollars. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 January, 2011
Gold continued yesterday’s after hours access trade advance and rose $14.35 to as high as $1347.95 in Asia before it fell back off in London and saw a $2.42 loss at $1331.18 by a little before 9AM EST and then bounced around near unchanged for most of the morning in New York, but it then fell of even further in late morning trade and ended near its 11:30AM EST low of $1316.55 with a loss of 1.1%. Silver climbed 69 cents to $27.81 before it fell back to $27.27 a little after 4AM EST and then climbed back to as high as $27.728 by midmorning in New York, but it also fell back off in late trade and ended near its new late morning low of $26.785 with a loss of 0.41%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 January, 2011
Gold grew stronger overnight as high as $1,245 before pulling back to $1,334 ahead of the Fix. When the Fix was set, it was higher at $1,337.50 and at €975.22 only €2 higher than yesterday’s afternoon Fix. Ahead of New York it rose over $1,339.29. The euro remains strong at $1,37.21. Once again the rise in the dollar gold price was entirely due to the fall of the dollar against the euro. No further sales from gold ETF’s took place during the last day. Full Story
WHOLESALE PRICES for physical gold fell back from the third overnight rally in four days in London on Thursday, dropping 1.1% against the Dollar as Asian stock markets closed the day flat but European shares ticked higher. Full Story
The World Gold Council released their excellent quarterly 'Gold Investment Digest'. The research has some interesting facts and important charts and shows that global demand was robust and broad based for both the final quarter and the year. Those continuing to call gold a bubble, often based on a lack of knowledge of the gold market, and failing to advise diversification, should read the report. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 January, 2011
Gold rose $5.35 to $1338.15 in Asia before it fell back off in London and early New York trade to see a loss of $7.90 at as low as $1324.90 by a little after 11AM EST, but it then rallied back higher in late trade and ended with a gain of 0.06%. Silver climbed 34 cents to $27.16 in London before it fell to see a $0.159 loss at $26.661 by late morning in New York, but it then surged back higher in afternoon trade and ended near its new last minute session high of $27.22 with a gain of 1.12%. Both metals have also risen to new highs in after hours access trade at the time of writing in reaction to the fed’s statement. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 January, 2011
Gold bounced off the low $1,320 while the euro continued to rise. It stood at $1,3702 earlier today, as confidence is recovered, to some extent, in the currency. In the euro, gold rose €2 while in the dollar it rose $11.50. The rise in the dollar gold price was entirely due to the fall of the dollar against the euro. The gold price was Fixed at $1,335.50 and at €974.32 this morning. Remarkably, just before the turn in the gold price the U.S. gold market saw a further, almost 32 tonnes of gold, sold out from the U.S. based SPDR gold ETF. Full Story
THE PRICE OF PHYSICAL gold bullion rallied from its lowest level since end-Oct. in what dealers called "quiet trade" in London on Wednesday, but remained nearly $100 per ounce off Dec.'s all-time highs ahead of today's US Federal Reserve announcement on monetary policy. Full Story
Gold's strength in pounds continued this morning and it has risen to over £846 per ounce. Counterintuitively, UK bonds were bought and the yield on the 10-year fell 5 basis points to 3.62%. These gains have been given up this morning, and given the degree of the economic contraction and the fact that inflation looks like remaining stubbornly high for the foreseeable future, UK gilts will likely soon come under pressure with a corresponding rise in long term interest rates. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 January, 2011
Gold fell as much as $22.55 to $1322.65 by about 6AM EST before it rebounded in New York and saw a nice rally in the last couple of hours of trade, but it still ended with a loss of 0.92%. Silver fell to as low as $26.556 by a little after 8AM EST before it also rebounded in New York, but it still ended with a loss of 2.01%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 January, 2011
Gold continued to fall in both the dollar and the euro [$1,332.8 and €976.20] with no support coming out of Asia. The gold price is still falling but yesterday saw 10 tonnes of sales from the SPDR gold ETF. This was after a large [20 tonne] purchase the day before. Overall there has been a steady ongoing depletion in the holdings of the U.S. based SPDR gold ETF over the last several weeks. One cannot be certain if this is a perception that the dollar will recover against gold or whether investors are selling the gold held for them in the U.S. and buying physical gold to be held overseas to avoid any potential confiscation. Full Story
THE PRICE OF PHYSICAL gold in wholesale bars fell to new multi-month lows against all major currencies on Tuesday morning, dropping to $1325 per ounce as Asian speculators hit what one Hong Kong dealer called "capitulation and panic". Full Story
Gold and silver's sell off has continued this morning. Despite gold's 3.75% and silver's nearly 8.4% fall in January and the continued sell off in futures markets, physical demand remains robust and supply tight. While speculators are taking profits and some shorting, investors and those who see gold as a store of value continue to accumulate physical. This is particularly the case in China, India and Asia but western demand also remains robust as seen in the record demand for US Silver Eagles from the US Mint in January and continuing reports of dealers not being able to secure certain bullion products. Dealers in Hong Kong overnight report that "there doesn't seem to be enough supply in the physical market." Full Story
By: Chris Mullen, Gold-Seeker.com - 24 January, 2011
Gold climbed $10.25 to as high as $1352.95 in Asia before it fell back off to see a $1.25 loss at $1341.45 by about 10AM EST, but it then bounced back higher in late morning trade and ended with a gain of 0.19%. Silver rose nearly 2% to $27.97 in Asia before it fell to see an almost 1% loss at $27.167 by about 10AM EST, but it then bounced back higher and ended with a loss of just 0.22%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 January, 2011
Before New York opened the gold price stood slightly higher in both the U.S. dollar and the euro. It was Fixed in London this morning at $1,347.5 and at €993.81. The euro stands at $1.3558 slightly higher against the dollar as euro yields are more attractive than those on the dollar. The dollar remains steady against other ‘hard’ currencies. The three- month euro interbank offered rate is 1.03%, compared with 0.30% for the London interbank offered rate in dollars. Full Story
The PRICE OF GOLD cut early gains vs. the Dollar in London on Monday morning, easing back towards Friday's 13-week closing low at $1343 per ounce as global stock markets held flat overall. The US currency edged lower on the forex market, while crude oil and other commodity prices ticked higher, but the silver price fell back towards Friday's new 6-week low at $27.20 per ounce. Full Story
After gains in Asia, the precious metals have come under pressure in Europe. The recent sharp sell off has seen gold fall 5.7% in January. Nothing whatsoever has changed regarding the fundamentals of the precious metal markets and long term buyers are again buying on the dip. As long as interest rates remain near historic lows and real interest rates continue to punish savers, gold's bull market remains sound. Full Story
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