Gold dropped down to as low as $1196.62 in London and spiked up to as high as $1209.00 following the release of the jobs report in early New York trade before it fell back to $1197.18 by about 10AM EST, but it then climbed to a new session high of $1218.50 a little after noon EST and closed with a gain of 0.68%. Silver pretty much ignored gold’s late session rise and instead fell throughout most of trade in New York to end the day with a loss of 3.34%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 June, 2010
"The morning Fix in London was $1,203.5 with gold moving up at New York’s opening at $1,205. The p.m. Fix will dictate the day’s play thereafter. Silver is lower than its $17.76 Fix in London at $17.6. Little news came out to add to the scene today.” Full Story
The US jobs number came in at 431,000, which was worse than the expected 500k, and saw safe haven buying bid the dollar, yen and gold prices higher. The jobs number raised concerns about the sustainability of the recovery especially as the employment numbers received an artificial boost from the hiring of thousands of temporary census workers. Full Story
THE PRICE OF GOLD in spot wholesale dealing bounced from its lowest US-price in nine sessions on Friday lunchtime in London, rallying from a dip to $1200 as the Euro currency sank to a new four-year low vs. the Dollar. Full Story
Gold saw a $4.22 gain at $1224.22 in Asia and then fell back off in London and New York to as low as $1201.28 by a little after noon EST before it rallied back higher in the last hour of trade, but it still ended with a loss of 0.98%. Silver fell to as low as $17.80 before it also bounced back higher in late trade, but it still ended with a loss of 1.81%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 June, 2010
"The trading range of this consolidation is narrowing. The London a.m. Fix was $1,219.75. Before New York opened gold was trading at $1,217.3. Banks in Europe are depositing record amounts at the E.C.B. giving the impression that they are afraid of lending to each other. If they are scared, who are we not to be?” Full Story
THE PRICE OF GOLD in wholesale professional dealing slipped back to yesterday's two-day low in London on Thursday, trading at $1215 an ounce as New York's financial markets opened to find world equities extending Wednesday's sharp rally. Full Story
Gold fell back off in London to as low as $1213.85 by about 10AM EST before it rallied back to almost unchanged near $1225 at around noon, but it then fell back off into the close and ended with a loss of 0.41%. Silver fell to as low as $18.075 by about 9AM before it climbed back higher for most of the rest of trade, but it still ended with a loss of 1.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 June, 2010
As the mini correction and consolidation continues gold was fixed at $1,221.00 this morning and then slipped through the day to fix in the afternoon at $1,215. It’s now trading slightly higher at $1,217.00 in New York. Full Story
THE PRICE OF GOLD in wholesale dealing held near two-week highs against the major reserve currencies in London trade on Wednesday, creeping 0.1% higher from yesterday morning's AM Gold Fix as world stock markets fell for the eighth time in 11 sessions. Full Story
Gold rose again yesterday on safe haven demand due to falling stock markets after growing concerns about the impact of the oil spill in the Gulf of Mexico and continuing concerns about contagion in the eurozone. Gold initially rose in Asia before giving up those gains and falling as low as $1218/oz in early European trading. Full Story
Gold traded mostly slightly higher over the Memorial Day holiday and climbed in London and New York today to as high as $1228.82 by a little before noon EST before it fell back off a bit, but it still ended with a gain of 1.06% from Friday afternoon’s close. Silver climbed to as high as $18.667 before it also fell back off in the last couple hours of trade, but it still ended with a gain of 1.04%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 June, 2010
With a weekend to digest the global financial situation, Asia began gold’s day by taking the price from $1,214 to $1,220. London then followed by taking the price up through $1,227, but the am Fix in London settled at $1,219.75. The upward pressure continued through to New York’s opening and a pm London Fix of $1,227.75. Prices then calmed slightly with prices settling at around $1,225 still in a robust condition. Full Story
THE PRICE OF GOLD in wholesale dealing rose against all major currencies early Tuesday, hitting two-week highs against the Dollar above $1224 an ounce as world stock markets slumped almost 2%. Full Story
Gold is the strongest currency in the world today and has risen to $1,220/oz and over €1,000/oz with a variety of macroeconomic and geopolitical headwinds supporting the yellow metal. These include geopolitical risks in the Koreas and in the Middle East, the macroeconomic risks posed by the continuing sovereign debt crisis, concerns about the euro and growing concerns about a double dip recession. Full Story
Rise in geopolitical risk after the Israeli raid at Gaza strip on a ship carrying aid resulted in gold rising. The rise in geopolitical risk will only result in gold rising further and nothing else. After North Korea its Israel now. Technically gold looks headed for $1256 and $1356. Over the past few years after 7/7 geopolitical risk has failed to support gold but I do not expect history to repeat itself. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 May, 2010
"With a holiday today in the States and U.K. many will be assessing the near future of the market, particularly the €’ future. With Spain being downgraded on Friday, the gold price held strong at $1,214, at the same level as the p.m. Fix in London. While the media says that opinions are divided on the future of the globe’s monetary system, prudence points the way to invest.” Full Story
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