By: Chris Mullen, Gold-Seeker.com - 26 November, 2008
Gold traded mostly slightly lower in Asia and London before it spiked higher at the New York open to see a $4.10 gain at $823.10 by about 9AM EST, but it then fell back off for most of the rest of trade and ended near its low of $808.20 with a loss of 1.1%. Silver rose to see an 18 cent gain at $10.46 in early New York trade before it also fell back off for most of the rest of trade and ended with a loss of 0.97%. Full Story
Gold remains well bid above $800 in the wake of last Friday's upside breakout of the 681.65/776.80 range, which had contained activity for nearly 4-weeks. Clients calling in to make purchases of physical gold have been citing their concern about bailouts and the likely impact on the dollar. Those concerns are well founded. Full Story
SPOT PRICES FOR WHOLESALE GOLD held steady in Asian and early London trade on Wednesday, moving between $811 and $815 an ounce as world stock markets gave back one-fifth of this week's rally to date. Full Story
Gold has rallied by $135 per ounce in recent days and yet the open interest has gone down showing that much of the move was created by shorts closing their positions. This will encourage more long interest to enter the market and should contribute to markedly higher prices in the coming weeks. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 November, 2008
Gold fell $15.35 to $802.55 by early trade in London and rose $12.60 to $830.50 by about 9AM EST in New York before it fell back off into the close, but it still ended with a gain of 0.13%. Silver rose $0.173 to $10.493 by about 9AM EST and fell $0.29 to $10.03 by late morning in New York before it rallied back higher into the close, but it still ended with a loss of 0.39%. Full Story
THE SPOT PRICE OF PHYSICAL GOLD slid almost 2% early in London on Tuesday, recording an AM Fix of $802.50 per ounce before bouncing sharply and moving back above £540 and €635 for British and Eurozone investors respectively. Full Story
Gold has given up some of yesterday's and the last four days' gains. Profit taking seems the most likely explanation as the dollar remains largely flat but the weakness in oil may be contributing to gold's weakness. Continuing unprecedented volatility in markets is leading to further safe haven demand. Full Story
Silver outperformed gold for once after a long time. Indian gold and silver prices rose taking cues from global market. Indian gold demand was not there at higher prices while silver demand in India was better than gold. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 November, 2008
Gold fell $5.30 to $786.20 and silver dropped a couple of cents to $9.48 in Asia and both metals then soared higher in London and New York trade to as high as $829.55 and $10.675 by late morning before they came back off a bit in the last two hours of trade, but they still ended with impressive gains of 3.34% and 8.57% to add to Friday’s gains of 5.74% and 4.22%. Full Story
THE PRICE OF GOLD jumped 4% to a new 6-week high early in London on Monday, touching $822 per ounce as Western equities also gained and the US Dollar weakened on the currency market. Full Story
In a remarkable week for the yellow metal, strong resistance at $770 last Monday may now be the level of support as Gold rallied on Friday, finishing up $50 on the day, 6% on the week. It is currently trading at $822 (1230 GMT) and a sustained move above $800 could signal an upswing towards the $850 level, again confirming Gold's safe haven demand as stock markets continued to fall sharply amid continuing woes in the US financial sector (as graphically illustrated by Citigroup). Full Story
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