Gold traded mostly slightly higher in Asia and London and then rose about 1% to above $671 by about 10AM EST in New York before it fell back off to about $666, but it then rallied back higher for the rest of the day and ended at its high of the session with a gain of 1.22%. Silver rose to over $13.10 by about 10AM EST before it fell back off a bit in late morning trade, but it also rallied back higher into the close and ended back near its earlier high with a gain of 1.08%. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 August, 2007
Gold rose a few dollars in after hours access trade late yesterday before it fell back near unchanged in Asia and then climbed back higher in London to find over $2 gains by early trade in New York, but it then fell back off in midmorning trade, waffled on either side of unchanged for most of the rest of the day, and ended with a gain of just 0.12%. Silver rose over $13.00 in early New York trade before it also fell back off by late morning, but it remained higher throughout the day’s session and ended with a gain of 0.54%. Full Story
Higher volatility in yen has increased the volatility in gold and silver. The 2007 average high low range for yen has been at 83 pips while July till date average has been at 97 pips. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 August, 2007
Gold fell over 1% by midday in London before it bounced back fiercely in early New York dealings and traded just under unchanged on the day by about 10:30AM EST, but it then fell back off into the close and ended with a loss of 0.51%. Silver fell to about $12.70 in London before it rose to find slight gains in New York above $13.00, but it also fell back off into the close and ended with a loss of 0.54%. Full Story
Gold, silver and metals in general are getting buoyed news from more subprime losses in US. Bear Stearns halted redemptions on third hedge fund after a slump in credit markets prompted investors to demand their money back. Full Story
Gold traded slightly higher in Asia and added to its gains in London to find over $4 gains above $668 in early New York trade before it fell back off in midmorning trade to as low as $663.10 by about 11AM EST, but it then rallied back higher into the close and ended near its high of the session with a gain of 0.45%. Silver rose over $13.00 before it fell to $12.83 by about 11AM EST, but it also rallied back higher into the close and ended with a gain of 1.01%. Full Story
Global equity markets as well as gold and silver may have bottomed out as the US dollar once again weakens. I had mentioned yesterday that US dollar’s gains is nothing but a mere pullback which is what happened. The US dollar is in medium term secular weakness and that such gains is a part and parcel of the same. Full Story
Gold bounced around between unchanged and about $3 higher in Asia, London, and morning New York trade, but it then took off even higher in the last hour of trade and ended near its high with a gain of 0.71%. Silver traded about 5-10 cents higher in Asia and London before it steadily added to its gains throughout trade in New York and ended near its high of the session with a gain of 1.75%. Full Story
February 27, 2007 was repeated last week, albeit for different reasons. “Once bitten twice shy. Three bitten how many times shy! for the gold investor.” Gold’s three failed attempts to break $700.00 in 2007 followed by fall. The fall was like a bullet hitting a gas balloon. Full Story
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