By: Chris Mullen, Gold-Seeker.com - 8 October, 2010
Gold fell over $10 to $1324.60 in London before it spiked up to $1345.25 after the release of the jobs report and then dropped back down to $1329.55 by about 9AM EST, but it then rallied back higher for most of the rest of trade and ended near its late morning high of $1379.52 with a gain of 0.67%. Silver fell to as low as $22.28 in London before it rallied back higher for most of trade in New York and ended near its late morning high of $23.295 with a gain of 2.48% at a new 30-year closing high. Full Story
THE PRICE OF GOLD in wholesale dealing jumped against the Dollar at the start of New York trade on Friday after the Bureau for Labor Studies said US payrolls shed 95,000 jobs in September. Earlier hitting a 3-session low beneath $1326 per ounce, the gold price had already recovered to $1335 before spiking briefly above $1340 on the news. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 October, 2010
Gold was fixed at #1,330.5 down $29 on yesterday morning. $1,359.50 a 2% drop and the dollar has recovered to $1.39.02 from $1,3971 against the euro a half a percentage drop. It was in New York that the fall occurred. In Europe gold dropped 12 a 1.75% drop. The fall in the gold price in both currencies looks overdone. Full Story
Gold and silver's weekly gains have been pared but both remain higher for the week so far. Gold and silver fell almost 1% and 2% respectively in trading on the COMEX yesterday. They traded sideways in Asian trading and have resumed their slide in early New York trading. The dollar has bounced from record monthly lows and this is leading to some selling. Profit taking is also likely after the recent run up in price. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 October, 2010
Gold rose as much as $18.50 to a new record high of $1364.70 by a little after 4AM EST in Asia and held most of those gains for much of trade in London, but it then fell off rather markedly for most of trade in New York and ended near its early afternoon low of $1325.72 with a loss of 0.85%. Silver climbed to a new 30-year high of $23.491 in Asia before it also fell back off in New York and ended near its early afternoon low of $22.425 with a loss of 1.91%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 October, 2010
Gold was fixed at $1,359.50 and the dollar has slipped to $1,3971. In the euro gold is barely changed after Fixing at 973.017. It was not so long ago that the dollar fell to $1.50 and it looks like heading that way again. With the Bank of England and the European Central Bank holding interest rates and pressure on to continue to print more money, it is little wonder that gold is making record highs [but only in the U.S. dollar]. Full Story
THE PRICE OF GOLD hit yet another new Dollar high early Thursday, touching $1364 an ounce as the US currency slumped to fresh 15-year lows against the Japanese Yen and world stock markets also fell. Full Story
While gold has been grabbing some headlines recently, especially in the financial media, poor man's gold silver remains the 'ugly sister' and is rarely covered in the financial media and almost never in the mainstream press and media. From a contrary perspective this is bullish as it shows that silver remains very much off the radar of the retail investor and 'Joe Public' - most of whom do not even know the price of silver - let alone how to invest in it. Full Story
No stopping for the commodities at all and for a weaker US dollar. All the negative news is being ignored while positive news is acted upon. Currency appreciation is causing furor among emerging nations as every nation wants a weaker currency to lead an export led recovery Full Story
By: Chris Mullen, Gold-Seeker.com - 6 October, 2010
Gold climbed to a new record high of $1349.70 in Asia before it fell back to $1341.80 in London, but it then rallied back higher in New York and ended at a new record closing high with a gain of 0.56%. Silver climbed to as high as $23.07 and fell to as low as $22.747 before it also rallied back higher and ended at a new 30-year high with a gain of 1.41%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 October, 2010
Highlighting how investors can miss the perspective of the market the gold price rose $35+ yesterday, sparking the perception that gold was shooting up. In Europe gold rose 2 to 968. When gold was $1,305 it was 960 in Europe. Today it stands at $1,349 and in the Euro at 973. It was Fixed in London at $1,347 yet another record. Full Story
THE PRICE OF GOLD rose to fresh Dollar records above $1350 an ounce early Wednesday, hitting its 16th new all-time high in 17 trading days at the London Fix this morning. Global stock markets also rose, as did major-economy government bonds, while the US Dollar slipped and commodities held flat. Full Story
Its just the bank of Japan interest cut rate along with supporting economic numbers from US and Europe which contributed to a weaker US dollar, higher stock and commodity prices. Technically overbought conditions still exist and a correction can happen anytime as and when there is selling news. But momentum is very bullish. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 October, 2010
Gold waffled near unchanged in Asia and saw about a $10 gain in London before it extended even higher in late morning New York trade and ended near its late session high of $1341.10 with a gain of 1.75% at a new record high. Silver climbed to a new 30-year high of $22.74 and ended with a gain of 3.09%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 October, 2010
Yesterday the Bank of Japan lowered interest rates to not far from zero and indicated they would monetize government bonds by buying them from the market. This is QE. It will add to the intervention program in weakening the Yen on foreign exchanges and weaken its buying power at home. Full Story
THE PRICE OF SILVER and gold bullion leapt overnight in Asian and early London trade on Tuesday, hitting new highs vs. the Dollar as world stock markets also rose on fresh promises of quantitative easing on either side of the Pacific. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 October, 2010
Gold rose a few dollars to as high as $1319.70 in Asia before it fell to see a $4.60 loss at $1311.90 in London and then rallied back to see a slight gain shortly before 8AM EST, but it then chopped around near $1315 in New York and ended with a loss of 0.06%. Silver climbed to $22.165 and fell to $21.871 before it rebounded in late trade and ended with a loss of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 October, 2010
On Friday in London, the afternoon Fix [set after New York had opened] was Fixed at $1,316.25. After that it did hit $1,320. In both Asia and London the gold price slid back to $1,316, where it Fixed in London. The jump to $1,320 appears to have been a squeeze on investors holding short positions there. We do expect to see more of that at these levels and if the gold price continues to rise. After all just how much punishment can a short investor take? Full Story
THE PRICE OF GOLD for everyone but Australian and Eurozone investors slipped early Monday in spot gold market trade, briefly dipping below $1314 an ounce as silver prices dipped below $22.00 the ounce. Full Story
Traders and investors will be looking forward to (A) US September non farm payrolls (B) Third quarter corporate earnings from next week and future corporate outlook. (C) The US dollar (D) Stocks. These are the key factors which will dictate the financial markets in October. Full Story
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