Gold fell $7.60 to $1524.00 in London before it jumped up to $1545.69 in midmorning New York trade and then pared its gains a bit heading into midday, but it then rallied back higher in afternoon trade and ended near its earlier high with a gain of 0.63%. Silver fell to as low as $35.10 by about 9AM EST, but it then rallied back higher into the close and ended with a loss of just 0.25%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 June, 2011
New York closed with gold at $1,531 and Asia plus London held the gold price at that level. Certainly the developed world is mesmerized by the job figures to be published in the U.S. today. Full Story
THE WHOLESALE market price of gold bullion leaped $10 per ounce to $1539 Friday lunchtime in London – recovering the last of this week's 1.1% fall – before sliding back as the US Dollar fell on surprisingly weak US jobs data. Full Story
Gold and silver are lower again today in most currencies after yesterday’s falls. Gold has risen marginally in British pounds (GBP 938.41/oz) as sterling is lower (see cross currency table) with the weak services sector PMI data highlighting the weak U.K. economy and increasing risk of stagflation. Full Story
Gold waffled near unchanged in Asia and London before it fell off rather markedly in midmorning New York trade and dropped to as low as $1519.38 by about 11:30AM EST, but it then bounced back higher in the last couple of hours of trade and ended with a loss of just 0.67%. Silver fell to as low as $35.596 before it also bounced back higher in late trade, but it still ended with a loss of 3.7%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 June, 2011
New York closed with gold at $1,542 and in the euro to €1,072 with the dollar at €1: $1.4381. Then as London opened we saw gold begin to rise slowly and the dollar fall to $1.4472. Gold was then Fixed at $1,540.75 and at €1,068.26 at the time when the dollar stood at €1: $1.4470. Again we point to the weakness of the dollar at a time when the Eurozone sees its debt crisis worsening. Full Story
THE U.S. DOLLAR gold price rose to $1544 per ounce Thursday morning – up 5.5% from May's low – while stock markets, commodities and US Treasuries all fell after worse-than-expected US economic news and a further ratings downgrade for Greece. Full Story
Spot gold and silver prices rose slightly again this morning after hitting a one-month high yesterday as equity markets internationally came under selling pressure. The Moody's downgrade of Greece and worryingly poor US economic data again pushed investors to seek the safe haven of bullion. Gold reached new record nominal highs in sterling yesterday (£945.62/oz) as the pound fell on concerns about the UK economy. Full Story
Gold fell $5.95 to $1528.95 in Asia, but it then climbed to as high as $1550.15 by midday in New York and ended with a gain of 0.46%. Silver slipped to $37.537 in midmorning New York trade before it surged up to $38.423, but it then fell back off into the close and ended with a loss of 1.88%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 June, 2011
In the euro the gold price slipped to €1,061.63 overnight and in the dollar to $1,533.1. The dollar fell to €1: $1.4441 and looks weak still. With the Eurozone crisis getting worse and worse that fall of the dollar against the euro reflects not just the U.S.’ own debt crisis but the structural shape of the U.S. balance of payments. Full Story
THE SPOT MARKET price of gold bullion dropped overnight, before beginning Wednesday morning London time by trading in a tight range around $1532 per ounce – up 1.3% from the start of last week – while stocks and commodities were flat. Full Story
Gold and silver are lower today despite equities being mixed and Eurozone debt markets exhibiting signs of stress again with Portuguese and Greek bonds being sold with yields rising again despite the latest “bail out” speculation. Full Story
Gold fell $3.80 to $1532.00 by a little after 8AM EST before it shot up to $1540.35 by midmorning in New York, but it then fell back off in the last two and half hours of trade and ended with a loss of 0.06%. Silver surged almost a dollar to as high as $38.75 in London before it fell back to $37.955 by about noon EST, but it then rallied back higher in late trade and ended with a gain of 1.14%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 May, 2011
With the U.S. closed for Memorial Day and the U.K. closed for a Banking Holiday yesterday we saw the Asian gold price rise to $1,536 and in the euro €1,076.12 with the dollar starting in London, slipping slightly at €1: $1.4273. Today saw the dollar slipping to €1: $1.4421 despite the fears being focused on the Eurozone still. Full Story
THE WHOLESALE price to buy gold continued trading in a tight range Tuesday morning around $1538 per ounce – just over 2% off its all-time high – following a flat day Monday as the US and UK had official holidays. Full Story
Gold has fallen against the euro and most currencies but is 0.2% higher in U.S. dollars and nearly 1% higher in yen terms as the American and Japanese currencies have come under selling pressure. Gold remains near record nominal highs in all major currencies which shows that markets are concerned about inflation and concerns about the future of major currencies. Full Story
Gold and silver are flat in US dollars but higher in euros this morning. Trade is thin with the UK and US markets closed for spring holidays. Gold and silver were 1.75% and 8% higher last week and the precious metals and especially gold appear to be on solid footing due to the continuing debt crisis in Europe and concerns about a slowdown in the US and global economy. Full Story
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