By: Chris Mullen, Gold-Seeker.com - 28 December, 2012
Gold fell to as low as $1653.39 by about 3PM EST before it bounced back higher in the last hour trade, but it still ended with a loss of 0.42%. Silver slipped to as low as $29.86 and ended with a loss of 0.56%. Full Story
THE SPOT MARKET gold price fell back to $1660 an ounce Friday morning, close to where it started the week, as stock markets also edged lower, ahead of talks in Washington aimed at avoiding the $600 billion "fiscal cliff" of spending cuts and tax rises due within days. Full Story
Gold pared back early gains and edged down on Friday and tick tock goes the US “fiscal cliff” clock as time is running out for the somewhat irrelevant New Year’s deadline. Gold bullion prices are on target for their first weekly gain in a month after the sharp fall in December (-3%) led to bargain hunters buying the dip. Gold bottomed on December 29th last year prior to very strong gains in January 2012 and we believe a similar pattern may be seen again this year. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 December, 2012
Gold fell $8.09 to $1652.01 at about 9:45AM EST, but it then jumped to as high as $1665.39 in the last minutes of trade and ended with a gain of 0.25%. Silver slipped to $29.685 in London, but it then rose to as high as $30.466 in New York and ended with a gain of 0.8%. Full Story
U.S. DOLLAR gold prices traded above $1650 an ounce Thursday morning, in line with where they started the week, as the London market reopened following Christmas. Silver meantime hovered either side of $30 an ounce, while stock markets edged higher and the Dollar fell, following news that the US Treasury is to take extraordinary measures to avoid hitting the federal debt ceiling next Monday. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 December, 2012
Gold climbed up to $1667.63 by about 9:15AM EST before it fell back off midday, but it still ended with a gain of 0.1%. Silver surged to $30.21 before it slipped back to $29.842 and then rallied back higher in early afternoon New York trade, but it then fell back off again in the last hour of trade and ended with a gain of just 0.23%. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 December, 2012
Gold climbed up to $1665.66 in Asia before it fell back off in London and New York, but it still ended with a gain of 0.21%. Silver rose to as high as $30.36 in Asia, but it then fell to as low as $29.806 in early afternoon New York trade and ended with a loss of 0.3%. Full Story
ON THE FINAL day before Christmas, gold prices edged higher Monday morning, climbing to $1665 per ounce and recovering some of the ground lost last week. Friday afternoon's London gold fix was $1651.50 an ounce, a 2.6% weekly fall and the biggest weekly drop since June. "[Gold's fall] opens up a move to the next major support, which are the lows in the $1520s," says Friday's technical analysis note from Scotiabank. Full Story
The key themes for gold and silver were (A) Quantitative easing by the Federal Reserve and other central banks (B) European sovereign debt default (C) Central banks all over the world increasing their gold reserves (D) Weakness in emerging market currencies apart from the US presidential elections. Full Story
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