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Weekly Archives
By: Chris Mullen, Gold-Seeker.com - 2 May, 2008
Gold briefly spiked down to $845.70 after the jobs report gave the dollar a lift, but the yellow metal quickly recovered to trade modestly higher for the rest of trade and ended near its high of $859.20 with a gain of 0.84%. Silver momentarily dropped to $16.04 before it made a high of $16.502 and closed with a gain of 1.6%. Full Story |
By: GoldSeek.com - 2 May, 2008
COT Gold, Silver and US Dollar Index Report - May 2, 2008 Full Story |
By: Peter A. Grant, USAGOLD - 2 May, 2008
It was a bold move when the Fed initially agreed to accept commercial and residential mortgage-backed securities in an environment of declining real estate values and record defaults. That decision was reflective of the severity of the crisis. This expansion of acceptable collateral is a strong indication that the worst of the financial crisis may in fact not be over, as has been espoused recently. Full Story |
By: Adrian Ash, BullionVault - 2 May, 2008
SPOT GOLD PRICES ticked higher from a four-month low early Friday, adding 0.9% to $855.90 per ounce before giving back $3 in London as world stock markets rose sharply and bond yields fell. Full Story |
By: Gold Investments - 2 May, 2008
Gold seems well supported above previous resistance at the record nominal highs of $850 but the short term trend remains down and we could test the 200 day moving average. Physical demand from China, India and wider Asia is very robust at these levels and should result in gold basing and consolidating at these levels prior to rechallenging $900 and $1,000 per ounce in the coming weeks. Full Story |
By: Chintan Karnani, Insignia Consultants - 2 May, 2008
Markets expect crude oil to rise to $150 in 2008 and $200 in 2009. In June 2007, there was a hurricane in the Persian Gulf which had affected crude oil shipments from the Middle East. Further there was not a single major hurricane in the Gulf of Mexico. Full Story |
By: Chris Mullen, Gold-Seeker.com - 1 May, 2008
Gold rose to find a more than 2% gain at over $880 in Asia, but it then fell throughout most of trade in London and New York and closed near its low of $847.05 with a loss of 1.6%. Silver rose to as high as $16.99 in Asia before it fell to as low as $15.97 by late morning in New York and closed with a loss of 2.4%. Full Story |
By: Peter A. Grant, USAGOLD - 1 May, 2008
The ambiguity of the Fed statement may ultimately lead to the familiar themes of dollar weakness and commodity strength re-exerting themselves. At that point, we would look for gold to rebound into the recent range. A move back above resistance at 881.70/882.25 would ease short-term pressure on the downside. Full Story |
By: Adrian Ash, BullionVault - 1 May, 2008
SPOT GOLD PRICES continued to slide early Thursday, falling below Wednesday's 13-week low to trade at $862.40 per ounce as bond yields ticked higher following yesterday's "baby-step" rate cut from the Federal Reserve in Washington. Full Story |
By: Gold Investments - 1 May, 2008
There are a number of key US reports due again today but market action may be subdued by the May Day holiday in Europe and by players adopting a wait and see approach ahead of tomorrow’s non-farm payrolls report. Thus, gold will again likely take its lead from oil and the dollar which are down and up respectively so far today putting pressure on gold. Full Story |
By: Chintan Karnani, Insignia Consultants - 1 May, 2008
The US dollar sold off after the Fed interest rate cut as there was too much hype over the same. The Fed has said that it may pause on interest rate cuts and also cut downside risk to the US economy. Full Story |
By: Chris Mullen, Gold-Seeker.com - 30 April, 2008
Gold fell to $861.95 by midday in London before it rallied to find a small gain at $876.00 by about 10AM EST in New York, but it then fell back off into the close and ended with a loss of 1.36%. Silver fell to $16.359 and rose to $16.78 before it also fell back off into the close and ended with a loss of 0.36%. Both metals have risen in after hours access trade in reaction to the fed’s statement and have more than erased the day’s losses at the time of writing. Full Story |
By: Peter A. Grant, USAGOLD - 30 April, 2008
Gold remains defensive after support at 872.25 (01-Apr low) gave way in late trading on Tuesday. Market activity is likely to be fairly subdued this morning as traders await the Fed's announcement on interest rates at 14:15 EDT. Full Story |
By: Gold Investments - 30 April, 2008
Gold continues to sell off on oil weakness and dollar strength. However, we are confident that this is another short term correction in a long term secular bull market. Gold remains up 27.35% in the last year and has outperformed nearly all asset classes since the outbreak of the credit crisis. Full Story |
By: Adrian Ash, BullionVault - 30 April, 2008
THE PRICE OF GOLD BULLION continued to slide early Wednesday, avoiding the collapse forecast by many analysts after dropping through $875 per ounce but reaching a series of fresh 3-month lows as the US Dollar rallied against the Euro, crude oil and the value of world stock markets. Full Story |
By: Chintan Karnani, Insignia Consultants - 30 April, 2008
It’s all on the Fed meeting for precious metals and energies. Interest rate expectation has been factored in by the markets. If the Fed wants a stronger US dollar they will signal an interest rate pause. If they want a weaker US dollar they will be hawkish or may not signal an end to the interest rate cuts. Full Story |
By: Chris Mullen, Gold-Seeker.com - 29 April, 2008
Gold remained near unchanged in Asia, but it then fell throughout most of trade in London and New York and ended near its low of $871.45 with a loss of 2.04%. Silver fell to $16.44 by about 9AM EST in New York, but it then rallied nearly 1% from its low and ended with a loss of 2.64%. Full Story |
By: Peter A. Grant, USAGOLD - 29 April, 2008
Gold is retreating within the recent range after failing to regain the $900 level. Oil is backing off the highs and the dollar has firmed up again within its range, which is weighing on the yellow metal. Full Story |
By: Adrian Ash, BullionVault - 29 April, 2008
THE PRICE OF PHYSICAL GOLD fell back in Asian and early London trade on Tuesday, undoing Monday's 1.1% gain as crude oil fell, stock markets were mixed, and government bonds ticked higher after the worst two weeks for US Treasuries since 1982. Full Story |
By: Gold Investments - 29 April, 2008
Gold is again under pressure in early trading this morning with the dollar continuing to strengthen (to 1.556 to the euro) and oil continuing to sell off (below $118 per barrel) but caution remains the predominant theme ahead of the Federal Reserve’s interest rate decision (more below). Full Story |
By: Chintan Karnani, Insignia Consultants - 29 April, 2008
Saudi Arabia’s Public Investment Fund is in the “final stages” of launching the kingdom’s first sovereign wealth fund (SWF). The SWF would be set up with initial capital of SR20bn ($5.3bn). The amount of investment by Gulf cooperation council (GCC) countries will only rise and is an indirect way of moving away from the US dollar based investments. Full Story |
By: Chris Mullen, Gold-Seeker.com - 28 April, 2008
Gold rose over $5 in Asia before it fell back near unchanged at $887.00 by early trade in New York, but it then rose midmorning to as high as $895.70, remained near that high into the close, and ended with a gain of 0.69%. Silver dropped to $16.77 and rose to $17.14 before it closed with a gain of 1.16%. Full Story |
By: Peter A. Grant, USAGOLD - 28 April, 2008
Gold has edged slightly higher in overseas trading on Monday, buoyed by new record highs in oil ahead of $120 a barrel. A rebound in the yellow metal above the 900.00/906.35 level would be an encouraging signal, easing short-term pressure on the downside. Full Story |
By: Adrian Ash, BullionVault - 28 April, 2008
THE PRICE OF PHYSICAL GOLD rose 0.9% during Asian and early London trade Monday, recovering Friday's drop as world equity and commodity indexes ticked some 0.5% higher. Full Story |
By: Gold Investments - 28 April, 2008
Gold tested support at $880, close to the early April lows of $870 last week, and was supported at those levels. After last week’s sharp sell off there is a risk that should gold close below $880 we could retest previous resistance at the 1980 nominal high of $850 per ounce. Full Story |
By: Chintan Karnani, Insignia Consultants - 28 April, 2008
This week a fall in US April consumer confidence, a sharp rise in Eurozone inflation, and more job losses (over -125,000) in the US economy will be negative for the US dollar and positive for gold and silver and energies. Full Story |
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