Gold remained near unchanged in Asia and London before it dropped to $927.55 after Trichet was not as hawkish going forward as most expected in his comments after the ECB’s rate hike, but the yellow metal then rallied back higher into the close and ended about $4 off that low with a loss of 1.37%. Silver dropped to $17.96 before it also rallied back higher and ended with a loss of 0.74%. Full Story
Gold has retreated into the range after ECB president, Jean-Claude Trichet, took a slightly less hawkish stand following a 25bp rate hike. The bump in the ECB's refi rate to 4.25% was widely anticipated and Trichet was expected to maintain a firm inflation-fighting stance at the follow-on press conference. The euro rose to a new 2-month high above 1.5900 in anticipation. However, Mr. Trichet's comments at the press conference had a more neutral tone than many were expecting. Full Story
SPOT GOLD PRICES recovered an overnight dip early in London on Thursday, re-touching this week's two-month highs as crude oil broke new all-time records near $146 per barrel and the Dollar fell after the much-expected Eurozone rate-hike. Full Story
It’s more of a US dollar depreciation story and interest rates for metals and energies than anything else. As long as US dollar continues to fall, crude oil will remain firm and gold will find investment demand on dips. Full Story
Gold and silver remained near unchanged in Asia before they dropped over 1% in London to as low as $931.45 and $17.868 by a little before 8AM EST, but they then rallied back higher in New York and ended near their highs of $945.52 and $18.33 with gains of 0.21% and 0.96%. Full Story
Gold is consolidating gains registered earlier in the week. Oil has backed off its highs slightly as well, but the dollar is maintaining a weak tone, which should help to keep the yellow metal underpinned. Full Story
SPOT GOLD PRICES ticked lower early Wednesday, giving back half of Tuesday's gains to new 11-week highs as crude oil turned higher but Asian stock markets fell yet again. Full Story
Gold has succumbed to profit taking with the dollar flat and oil prices down marginally ($141.30 per barrel ). However, geopolitical risk remains ever present and this should result in gold remaining well bid at these levels. Full Story
Geopolitical uncertainties have resurfaced with fears that Israel may attack Iran’s nuclear installations before US president George Bush leaves his office in January. Crude oil and gold are rising over these uncertainties. Full Story
Gold fell a few dollars to $921.72 in Asia, but it then rose to about $930 in London and accelerated its gains in New York to climb to as high as $945.95 and end with a gain of 1.78%. Silver dropped slightly to $17.36 in Asia, but it also rose rather impressively in London and New York and ended near its high of $18.192 with a gain of 4.13%. Full Story
Gold is maintaining a firm tone having probed above the midpoint of the $1032.20/$845.50 range. Renewed weakness in the dollar and ongoing strength in crude, along with the resulting inflationary pressures, are seen as supportive for the yellow metal. Full Story
GOLD PRICES ticked back towards yesterday's 11-week highs early Tuesday, standing 1.1% above Monday's low as crude oil bounced on the threat of Israel bombing Iran. Full Story
Traders will be gearing for super Thursday. We have the European central bank meeting and US June non farm payrolls. They will be taking their positions accordingly. Thursdays close can set the trend for rest of July for all metals, energies and the US dollar. Full Story
Gold rose to $935.25 in London before it dropped to as low as $918 by about noon in New York, but it then rallied back higher into the close and ended with a loss of just 0.22%. Silver rose to $17.87 and fell to $17.18 before it also rallied back higher and closed with a loss of 1%. Full Story
Gold has extended to the upside to challenge the 935.30 peak from 22-May. The yellow metal is being supported by a weak dollar and stocks, as well as a relentless rise in oil prices. Full Story
THE PRICE OF GOLD BULLION jumped again early Monday, just breaking the May 21st high of $935 per ounce to touch an 11-week high. Crude oil rose to a new record above $143 per barrel, and bond yields ticked higher as prices fell. World stock markets fell slightly overall, dropping for the eighth session in ten. Full Story
While the dollar has strengthened somewhat, oil has again rallied sharply to new record highs (up 2.4% to over $143.60 per barrel ) and this should result in gold remaining well bid at these levels. Geopolitical risk and continuing tensions in the Middle East and between the U.S. and Iran appear to be part of the driving force behind new record highs and this has led to gold being firm. Full Story
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