Gold dropped $12.05 to $895.15 heading into this morning jobs report before it quickly rebounded to see a $2.10 gain at as high as $909.30 by about 9:30AM EST, but it then fell back off for the rest of the day and ended near its new session low of $894.65 with a loss of 1.22%. Silver fell to as low as $12.659 as the jobs report was released before it rebounded back near unchanged in the next couple of hours of trade, but it also fell back off into the close and ended with a loss of 2%. Full Story
US stock markets ended the week higher, today, making it four weekly gains in a row. The bear rally continues but it is not lending support to gold prices, which have slumped roughly $65 per ounce over the past two weeks. There’s a growing sense of confidence in the market that a bottom is closer rather than farther in this recession. Full Story
THE PRICE OF PHYSICAL GOLD slipped in a tight range near yesterday's two-week lows early Friday, bouncing around $900 an ounce for US investors as the 3-day jump in world stock markets faded. Full Story
By: Chintan Karnani, Insignia Consultants - 3 April, 2009
Yesterday safe havens fell after the G20 meeting announced the $1 trillion package for the global economy. This resulted in investors switching away from gold and other safe havens to equities. The surprise European central bank interest rate cut failed to dent the euro. Base metals and energies rose on a positive global economy outlook. US March non farm payrolls have the potential of reversing the direction in equities and commodities. At higher prices technical factors will come into play. Full Story
Gold saw slight gains in Asia before it tumbled lower in London and morning New York trade to as low as $894.50 by a little before noon EST, but it then bounced back higher in the last couple of hour of trade and ended 1.4% off that low with a loss of just 1.94%. Silver saw over 1% gains in Asia before it also fell in London and early New York trade to as low as $12.57 by about 10AM EST, but it then rallied back higher in the last few hours of trade and ended with a gain of 0.62%. Full Story
A strong rally in global stock markets, a restriction in accounting rules, and promises to get tough on financial shenanigans by world leaders has lifted confidence of investors that there may be some light at the end of these dreary times. Despite the US dollar being hammered today, falling some 1.4%, gold could not find any buying support. Full Story
THE PRICE OF physical gold fell against all major currencies early Thursday, dropping 2% versus the Dollar as global stock markets jumped and Treasury bonds were sold lower. Crude oil bounced hard, back above $50 per barrel, as base metals and foodstuffs crept higher. Full Story
Central bank demand is set to increase, likely significantly, in the coming months. The World Gold Council reported gold sales for January 2009. Gold reserves were increased hugely in Ecuador which bought 28.3 tonnes, Russia which bought 4.1 tonnes and Venezuela which bought 7.5 tonnes. Full Story
Gold dropped $6.50 to $916.10 by late trade in Asia before it rebounded in London to as high as $932.65 by about 9AM EST in New York and then fell back to about unchanged in late morning trade, but it then climbed back higher in the last two hours of trade and ended with a gain of 0.28%. Silver fell 18 cents to $12.82 before it rose over 1% to as high as $13.17 and then fell back to under $12.90, but it also rebounded into the close and ended with a loss of just 0.54%. Full Story
Gold prices traded rather quietly during the regular hours of the market after failing to hold highs made overnight. A lot of news was focused on the build-up to the Group of 20 summit that starts Thursday in London. The currency markets remained little changed ahead of what could be a tension filled meeting of world leaders. Full Story
THE SPOT PRICE of physical gold rose in London trade early Wednesday, while Asian stock markets caught up with Tuesday's US gains but European shares slipped back. Government debt – set to swell $3 trillion worldwide in 2009 on the back of stimulus spending – held flat, keeping the yield offered by 10-year US Treasury bonds below 2.70% per annum. Full Story
The G20 summit is set to dominate the markets for the rest of the week. A variety of issues will be discussed but perhaps most importantly China and the other BRIC nations will be pushing very hard for a reform of the international monetary system. Full Story
By: Chintan Karnani, Insignia Consultants - 1 April, 2009
It’s a beginning to a new quarter. Base metals and energies. It’s a buy on sharp dips strategy for the second quarter. One should not get scared by steep falls in base metals and energies. I will also use silver’s slide (if any) to invest for the long term (1-2 year time). Gold I will prefer to remain on the sidelines in short term and use ten percent dips (if any) to invest for the long term. Full Story
By: Chris Mullen, Gold-Seeker.com - 31 March, 2009
Gold climbed to as high as $924.52 by about 9AM EST in New York before it fell to as low as $911.35 to see a $4 loss by a little before 11AM EST, but it then rallied back higher into the close and ended near its earlier high with a gain of 0.79%. Silver rose almost 2% to $13.262 at about 8:30AM before it dropped to as low as $12.60 in late morning trade, but it also rallied back higher into the close and ended with a loss of just 0.23%. Full Story
THE SPOT PRICE of gold bullion held inside a $10 range early Tuesday in London, heading into March's close at $922 an ounce as world stock markets rose and the US Dollar have back half of its recent gains. Full Story
The first quarter has seen gold (and especially silver) again outperform most asset classes with gold rising in all major currencies (as it did in 2007 and 2008). Gold is up more than 4% in US dollar terms, nearly 10% in Euro terms and 7% in British pound terms. Full Story
It’s a difficult market to trade for the day traders. Most of the day gold/silver trades in a steady range and thereafter a big move up or down in a span of new minutes and once again a consolidation phase for a few hours before the next move. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 March, 2009
Gold fell as much as $13.55 to $908.85 by late trade in London before it rose to see a gain of $9.30 at $931.70 at about 10AM EST in New York, but it then fell back off into the close and ended with a loss of 0.76%. Silver saw slight gains in Asia at as high as $13.36 before it fell to as low as $12.92 in London and then rallied back higher in morning New York trade, but it also fell back off into the close and ended with a loss of 1.88%. Full Story
Gold was not spared from today’s events, despite a brief rally overnight, selling pressure increased throughout the session and the yellow metal trades lower after hours. Prices have once again fallen back below the trend-line and need to find some support tomorrow otherwise bulls should be prepared to see a deeper consolidation in the market. Full Story
THE PRICE OF GOLD fell hard Monday lunchtime in London, dropping nearly 2% against the US Dollar to hit an 8-session low as world stock markets tumbled and the "risk averse" US Dollar and Japanese Yen both rose on the forex market. Full Story
Gold’s performance was lackluster, despite increasingly bullish news with regard to growing acceptance that the international monetary system must be reformed and the strong probability that gold will again play a more significant part in the international monetary system. Full Story
Regarding gold, it has held up quite well so far despite a full-court press of happy talk from the Obama Administration and an absence of thoughtful scrutiny by the news media to rebut it. A wild card that could cause bullion to soar is the prospect of the dollar being unseated as the world’s reserve currency. Full Story
Technically gold and silver are in a neutral to bearish zone and they have to break key resistances to edge higher. There will be a clash between medium term bulls and short term bears in gold and silver this week. Full Story
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