Gold fell to $870.70 by late trade in Asia, but it then rose throughout most of trade in London and New York and ended near its high of $888.90 with a gain of 1.2%. Silver fell to $16.39 by late trade in Asia, but it then rose throughout most of trade in London and New York and ended near its high of $16.92 with a gain of 1.6%. Full Story
Once again we are using the $900 level as the swing point. A rebound above $900/903 would signal renewed strength within the range, returning focus to last week's high at 935.30. Look for the yellow metal to continue to take its cues from crude and the dollar. Full Story
THE SPOT GOLD PRICE turned higher from a new two-week low early in London on Friday, reaching $882 per ounce as the Euro recovered to $1.550 but crude oil slipped below $126 per barrel. Full Story
By: Chintan Karnani, Insignia Consultants - 30 May, 2008
The crude oil awakening begins as US and UK regulators have started investigating into the rise of crude oil prices. US regulators revealed a wide-ranging investigation into crude oil trading practices amid increasing congressional concern over the role of speculators in record energy prices. Full Story
Gold rose slightly to $901.45 by late trade in Asia, but it then fell back off for most of trade in London and New York and ended about 0.5% off its low of $873.00 with a loss of 2.55%. Silver rose over 1% to $17.56 by late trade in Asia, but it also fell off markedly in London and New York and ended near its low of $16.46 with a loss of 4.64%. Full Story
Gold is back on the defensive as oil retraces a portion of yesterday's rebound and the dollar edges higher within its range. Yesterday's low in the yellow metal at 889.05 has been negated suggesting potential back to 880.00/879.79. Full Story
SPOT GOLD PRICES gave back an overnight rally early in London on Thursday, flirting with a two-week low beneath $890 per ounce as crude oil fell 0.6%, the US Dollar rose, and world stock markets continued to gain. Full Story
By: Chintan Karnani, Insignia Consultants - 29 May, 2008
The US dollar has gained against the euro and yen as markets fully factor a hundred percent chance of no rate cut in the end of June meeting. In June Eurozone and Asian growth will be the key for the US dollar as US growth is already discounted. Full Story
Gold rose slightly to $909.75 in Asia before it dropped over $20 to as low as $888.95 by midday in London, but it then rallied back higher in New York and ended over 1% off its low with a loss of just 0.82%. Silver rose to over $17.50 in Asia and dropped to $17.06 in London before it rose to a new session high of $17.63 and saw a gain of over 1% by a little after 10AM EST in New York, but it then fell back off into the close and ended with a small loss of 0.34%. Full Story
Gold has retraced slightly more than half of the gains recorded earlier in the month under the weight of a nearly 5% drop in crude prices over the past two sessions. However, the market seems to have found some support and has rebounded in more recent trading. Full Story
Gold’s sharp sell off yesterday (Gold closed at $907.40 down $18.60; Silver at $17.45 down 79 cents) has continued. Gold traded sideways in Asia before selling off again late in Asia and in early trading in Europe. Stock markets in Asia were mixed overnight but European markets have recovered from early losses and the FTSE is up nearly 0.5% in the session so far. Full Story
By: Chintan Karnani, Insignia Consultants - 28 May, 2008
Sterling failed to break 2.0040 and fell to 1.9716. A close below 1.9580 on Friday will result in sterling falling to 1.9238 in June. Sterling has to close over 1.9580 on Friday to have some hope of gains in June. Full Story
Gold rose a few dollars to as high as $929.15 by late trade in Asia and held near $925 in London before it plunged over 2% in early New York trade to as low as $904.00 by about 10AM EST, but it then bounced higher into the close and ended four dollars off that low with a loss of 1.92%. Silver rose to $18.31 and plummeted to $17.37 before it closed with a loss of 4.39%. Full Story
Gold has retreated into the range as US markets reopen after the long holiday weekend. Recent gains prompted some profit taking early in the session. However, better than expected new home sales sparked an uptick in the dollar. This has added further selling pressure to the yellow-metal, bringing the 900 level back within striking distance. Full Story
SPOT GOLD PRICES ticked lower in early action on Tuesday, slipping just below the tight trading range seen on Monday, when London and New York – the center of world Gold Trading – were closed for public holidays. Full Story
On Friday we looked at surging demand for gold (particularly investment demand) in China. Today comes news of surging demand from the Middle East and some of the trillions of petrodollars in the region seek the safety and inflation protection of gold. This trend is set to continue as there are now massive inflationary pressures throughout the region as many of their currencies are pegged to the declining U.S. dollar. Full Story
By: Chintan Karnani, Insignia Consultants - 27 May, 2008
I am a bit wary of the commodity currencies such as the Australian dollar, Canadian dollar and others. In the short term they may gain as commodities are expected to gain further. Full Story
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