By: Chris Mullen, Gold-Seeker.com - 3 December, 2010
Gold traded mostly slightly higher in Asia and London before it fell to see a $3.15 loss at $1385.35 a little after 8AM EST, but it then rallied back higher for most of trade in New York and ended near its late morning high of $1408.59 with a gain of 1.19%. Gold also ended just $5.40 from its all-time closing high set this past November 9th. Silver surged to as high as $29.292 before it fell back off a bit in the last couple of hours of trade, but it still ended with a gain of 1.89% at a new 30-year closing high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 December, 2010
The dollar is falling faster than the euro today. Some pressure has diminished because the Spanish bond sale went better than expected. It is pointless to read more into today’s calmer market than this, because the problem is still there. Spain is passing more austerity measures to tackle their situation, but the Eurozone structure and its separate parts will remain in crisis until the poorer EU nation’s debt is lowered through re-structuring [at worst default] or throwing money at the problem [QE - postponing its impact through short-term sterilization]. Full Story
THE PRICE OF GOLD reversed an earlier dip towards yesterday's low of $1385 per ounce at the start of New York dealing on Friday, holding onto a sharp drop vs. the Euro as the single currency rose – and the Dollar fell – on news of much weaker than expected US jobs growth. Full Story
Gold is higher in all currencies again this morning (see Cross Currency Table below) and is heading for a second weekly gain in dollars (and other major currencies), as China's imports surged, geopolitical risk in the Korean peninsula remains elevated and uncertainty about the euro, currencies and paper assets in general is leading to continued safe haven demand. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 December, 2010
Gold rose to as high as $1394.79 in Asia before it fell to see a $2.70 loss at $1384.10 at about 9AM EST and then spiked back higher in New York to as high as $1398.44 by early afternoon, but it then fell back off in late trade and ended with a gain of just 0.12%. Silver erased over 1% gains seen in Asia and fell to as low as $28.283 in early New York trade before it also rallied back higher and rose almost 3% to as high as $29.014 by early afternoon, but it then fell back off in late trade and ended with a gain of just 1.17%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 December, 2010
With the Eurozone crisis getting worse today as pressure moves to question the E.C.B. itself and its ability to contain the contagion now said to include Italy after Spain. The prospects of some of the poorer nations eventually being ejected from the EU has moved from possible to probable. The very structure of the Eurozone is now being seen as faulty as Germany enjoys a low euro exchange rate relative to its economy. Full Story
THE PRICE OF physical gold bullion in large, wholesale-market approved bars traded near 3-week highs in London on Thursday, holding within 1% of yesterday's new all-time records for Euro and Sterling investors as world stock markets rose alongside commodities. Full Story
Gold and silver are higher again today in all currencies after eking out marginal gains yesterday, when gold rose to new record nominal highs in euros and in British pounds at £895.44/oz. The weakness of sterling against gold shows that the euro and the dollar are not the only currencies about which investors are concerned. Gold at $1,391/oz remains some 2% below its record nominal high seen on the 9th of November ($1,421/oz London PM Fix) and after the recent period of consolidation looks set to challenge this level again. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 December, 2010
Gold rose to as high as $1396.74 in London before it fell to see a slight loss at $1382.10 by late morning New York, but it then rallied back higher in the last couple of hours of trade and ended with a gain of 0.15%. Silver climbed to $28.824 and dropped to $28.101 before it also rallied back higher and ended with a gain of 0.61%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 December, 2010
While the euro appeared to stop falling, it did continue to do so but at almost the same rate as the dollar did against other ‘major’ currencies. But the global currency markets were not happy at all as the ‘contagion’ effect of the Eurozone crisis spread to Portugal Spain and Italy as their bond rates traded at around a 5% yield higher [+7.5%] than the German Bunds [which traded at a +2.5% yield]. This implies that the markets do not trust the rescue package or the receiving nation’s ability to repay those loans. Full Story
THE PRICE OF GOLD touched a near 3-week high for Dollar investors above $1396 per ounce early in London on Wednesday, slipping back from record highs in Euros and Sterling as the US currency dipped on the forex market. Full Story
Concerns of contagion in eurozone debt markets and increasing existential concerns about the actual single currency itself saw gold rise 1% and silver by 3% yesterday (in USD). Gold in euro terms rose by even more as the euro again fell in international markets which saw gold in euros rise to a new record nominal high in euro terms just below €1,070/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 November, 2010
Gold held near unchanged in Asia and saw decent gains in London before it jumped even higher in New York and ended near its early afternoon high of $1389.75 with a gain of 1.38%. Silver soared to as high as $28.33 and ended with a gain of 3.65%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 November, 2010
The euro today is again visibly weakening at $1.2990 down nearly a cent and a half on yesterday. The tone of the market seems to have stood back from just the Irish and now looks at the overall financial distress of the Eurozone. Spain and Portugal and any other Eurozone crisis should have been dealt with in total because the Eurozone is one bloc financially, not a series of separate countries, from a finance point of view. Unless the problem is handled on a Eurozone wide basis the euro will continue to decline. Full Story
THE PRICE OF PHYSICAL wholesale gold bullion bars touched a 1-week high for Dollar investors but broke new all-time records for Euro and Sterling buyers on Tuesday morning, as industrial commodities slipped and the US currency rose against all competitors bar the Japanese Yen. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 November, 2010
Gold fell over $10 to as low as $1355.49 by about 10AM EST, but it then jumped up to as high as $1368.43 in the next hour and a half of trade and ended with a gain of 0.06%. Silver fell to as low as $26.505 before it also rallied back higher in late trade and ended near its late session high of $27.235 with a gain of 1.31%. Both metals have also risen to new highs in after hours access trade. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 November, 2010
The euro today is again visibly weakening at $1.3170 which implies that the Irish bailout is not to be believed. We see the market as accepting this package, but that the Eurozone problems are not out of the way. We see gold rising for a many reasons, not limited to the Eurozone problems. Gold Fixed at $1,360 this morning in London, a $5 level better than the Fix on Friday afternoon. Full Story
THE PRICE OF GOLD slipped against the Dollar but held steady vs. the Euro in London on Monday, reversing an earlier rally as the Euro slipped to a new 9-week low to the Dollar following the weekend's €85 billion rescue package for Ireland, agreed with the International Monetary Fund and European Union. Full Story
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