By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 October, 2010
You have to listen very carefully to the news these days. For instance, today you might have thought that the EU will now fine nations that go over certain deficit levels. On listening carefully you hear that they have agreed to look at fining nations that do. So it has not happened, but may well happen. Full Story
THE PRICE OF GOLD rose sharply at the start of New York trade on Friday, jumping 1.2% from an earlier low in London to hit $1352 per ounce – some 1.8% higher from last week's finish – as new data showed weaker-than-expected US economic growth, with much stronger-than-forecast price inflation. Full Story
Gold is marginally lower in dollar terms and in most currencies except for the euro this morning as there are renewed budget and sovereign debt concerns in the eurozone. Peripheral sovereign bonds have fallen sharply in value (see below) - although losses were limited by rumours that the European Central Bank may have resumed bond purchases. This is leading to weakness in the euro and gold rising in euro terms as traders question whether the period ofrecent euro strength was overdone. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 October, 2010
Gold traded mostly slightly higher in Asia and London and rose over 1% in early New York trade to as high as $1337.20 by about 9AM EST before it fell back near $13330 at around 10:45, but it then jumped to a new session high of $1345.00 by midday and ended with a gain of 1.5%. Silver climbed to as high as $23.833 in early New York trade before it also pared its gains midmorning, but it then shot up to a new high of $24.005 and ended with a gain of 1.75%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 October, 2010
With the dollar continuing to be the focal point of the markets, gold has quietened down slightly higher in London at $1,334. In London’s morning it was Fixed at $1,326.50. With no new news to affect the gold and silver prices exchange rate management is easier. The dollar remains at $1,3825, the Yen at 81.28 and the Swiss Franc at 9850 to the U.S. Dollar. Full Story
INTERNATIONAL WHOLESALE prices for gold bullion rallied almost 1% from yesterday's four-session low in London on Thursday, reaching $1333.50 per ounce as European stock markets rose – along with the Euro – despite a fresh plunge in "peripheral" Eurozone bond prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 October, 2010
Gold traded around $10 lower in London before it extended its losses in New York and ended near its late morning low of $1319.03 with a loss of 1.18%. Silver fell to as low as $23.343 in the last minutes of trade and ended with a loss of 1.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 October, 2010
Asia did little to the gold price overnight and London dropped it a few notches to $1,330 before the Fix. The dollar gained strength across the board leaving the gold price intact in the euro. We are of the opinion that currency markets are being “assisted” in moving currencies to chosen levels. Full Story
THE PRICE OF GOLD slipped back to last week's finish below $1330 an ounce in London on Wednesday, as the US Dollar rallied after a Wall Street Journal report said the Federal Reserve will be more cautious-than-expected in next week's hotly-anticipated asset purchase program – also known as QEII. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 October, 2010
Gold remained near unchanged in Asia before it fell back off in London and saw a $10.65 loss at as low as $1328.05 by about 10AM EST, but it then rallied back higher for most of the rest of trade in New York and ended near its early afternoon high of $1342.05 with a loss of just 0.02%. Silver fell to as low as $23.159 before it also climbed back higher in the last few hours of trade and ended near its early afternoon high of $23.924 with a gain of 1.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 October, 2010
Asia held the gold price steady as did London, bringing in the first a.m. Fix at $1,334. The dollar is holding relatively steady at $1.3920 but ‘feels’ soft. We suspect that it is being helped to hold this level. If this is true, surplus countries may well take this opportunity to sell dollars into this perceived strength. Full Story
THE PRICE OF GOLD unwound yesterday's 1.5% gain vs. the Dollar in Asian and London trading on Tuesday, slipping as the US currency recovered from sharp losses against crude oil, world equities and the Euro. Full Story
Slight dollar strength has contributed to gold and silver falling marginally in London trading so far today. Physical demand remains robust with buyers continuing to accumulate on the dips. With monetary easing set to continue and indeed deepen in the coming months this is likely to continue. Support is at $1,317/oz and resistance is at $1,348/oz and $1,385/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 October, 2010
Gold climbed as much as $24.43 to as high as $1348.93 in Asia before it fell back off in New York to as low as $1333.30 by late morning, but it then rallied back higher in the last couple of hours of trade and ended with a gain of 1.07%. Silver climbed to as high as $23.83 by about 8AM EST before it also fell back off in New York, but it still ended with a gain of 1.77%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 October, 2010
On the assumption that the G-20 would, for a change, produce something that would restore confidence in the currency world, traders hit the gold price hard on Friday sending it down through support to as low as $1,314 at one point. We believe that this was a shorting exercise. Full Story
THE PRICE OF PHYSICAL gold bullion rallied 1.2% against the Dollar and 0.8% against the Euro in Asian and early London trade on Monday, rising as "buying poured into the market" after the weekend's inconclusive G20 summit, according to one Hong Kong dealer. Full Story
The group of 20 nations agreed on an overhaul of the International Monetary Fund that gives a larger voice to emerging market nations. More than 6 percent of voting rights will be reallocated to underrepresented emerging-market nations and Europe will give up two board seats in the “biggest reform ever in the governance of the institution. Full Story
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