Gold fell all the way to $926.45 after the release of this morning’s jobs report before it rebounded back higher into the close, but it still ended with a loss of 1.09%. Silver dropped to as low as $13.29 before it also rebounded, but it still ended with a loss of 2.48%. Full Story
The count continues. For the twelfth time in fourteen sessions, the August gold contract failed to close above the low-$940 range. From a purely technical perspective a move down to $894 cannot be ruled out. Though the US dollar index appears to be ready to roll over on the charts and take out the June 2 lows, sharp weakness in the stock markets today and rising unemployment underscore the deflationary pressure keeping gold from advancing. Full Story
THE PRICE OF GOLD slumped into the New York opening once again on Thursday, dropping sharply from above $940 for the second time in two days as the Dollar rallied and stock markets fell on worse-than-expected US jobless data. Full Story
The US dollar continues to dictate commodities but crude oil fell on a rise on distillate stocks and reduced US consumption of gasoline. Gold rose on speculation that China may ask to start a debate on the US dollar as the world reserve currency and expectations that economic recovery in US and Europe will be choppy. Full Story
Gold and silver saw slight gains in Asia and London before they jumped higher in morning New York trade and rose to as high as $946.25 and $13.862 by a little after noon EST before both metals fell back off slightly in the last hour or so of trade, but gold still ended with a gain of 1.57% while silver added 1.25%. Full Story
THE WHOLESALE PRICE of investment gold jumped as the New York opening drew near on Wednesday, recovering most of yesterday's $20 drop as the Dollar fell on worse-than-expected US jobs data. Full Story
With the end of the second quarter it is important to take stock and review how various assets have performed so far in 2009.
As per the tables below, gold and particularly silver have continued to outperform the vast majority of equity markets in the last six months. This is the particularly the case in terms of dollars (gold up 5.8%; silver up 21%) and euros (gold up 5.15%; silver up 20.3%). Thus gold again outperformed the benchmark S&P 500 (up 1.8%) even after equity markets sharp rallies in the 2nd quarter. Full Story
Gold saw slight gains in Asia and traded near unchanged in London before it fell in early New York trade to as low as $923.45 by about 11AM EST, but it then bounced back higher into the close and ended with a loss of just 1.51%. Silver saw over 1% gains in Asia before it also fell back near unchanged in London and dropped in early New York trade to as low as $13.458 by late morning, but it also rallied back higher in the last couple of hours of trade and ended nearly 1% off that low with a loss of 2.8%. Full Story
For the tenth time in twelve sessions, the August gold contract failed to decisively close above the $940 level, setting a hard resistance level. Due to the firm resistance and the failure of the market today, from a purely technical perspective a move down to $894 cannot be ruled out. Full Story
THE PRICE OF GOLD eased back from a 3-session high of $945 an ounce early in London on Tuesday, dropping back as European stock markets dipped and government bond prices ticked lower worldwide. Full Story
Gold traded mixed in Asia and saw slight gains at $942.57 in London before it fell to see a $6 loss at as low as $934.21 by about 10AM EST in New York, but it then rallied back higher into the close and ended with a gain of 0.04%. Silver briefly flirted with a small gain in London before it fell all the way to $13.85 by about noon in New York, but it then rallied back higher in the last hour and a half of trade and ended with a loss of just 1.13%. Full Story
For the ninth time in eleven sessions, the August gold contract failed to decisively move above the $940 level, setting a hard resistance level. If bears give up control of this level, a major move in gold could be seen as it would appear that the next real upside objective would be to break the $1,000 level. Full Story
THE SPOT PRICE of gold bullion rose 0.7% from an early dip to $936 an ounce in London on Monday, lagging a 1.0% rally in European equity markets. Crude oil recovered to just below $70 per barrel, despite a cut in global oil-demand forecasts at the International Energy Agency. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
OilSeek.com
