By: Chris Mullen, Gold-Seeker.com - 5 October, 2012
Gold bumped up to $1795.84 in Asia before it spiked down to $1773.21 and then bounced back higher after this morning’s jobs report was released, but it then fell back off again in the last five hours of trade and ended with a loss of 0.55%. Silver rose to $35.10 in Asia before it slipped back to $34.158 in early New York trade and then also bounced back higher, but it then dropped to as low as $34.297 in late trade and ended with a loss of 1.32%. Full Story
WHOLESALE U.S. Dollar gold prices slipped 0.4% from new 11-month highs in London trade Friday morning, dipping beneath $1790 per ounce as European stock markets crept higher. Wholesale silver bullion prices eased back below $35.00 per ounce – but also held 1.1% up for the week – as commodities held flat and major-economy government bonds ticked lower. Full Story
Gold reached an 11 month high on Friday riding its 5th day of gains as quantitative easing from central banks continue to see the yellow metal shine as an inflation hedge while investors await the key US jobs data at 1230 GMT. The European Central Bank left interest rates unchanged on Thursday and said it was ready to purchase government bonds of debt-laden nations, sending the euro upward and pushing gold near $1,800 - a level that has not been reached since last November. Full Story
All eyes are on the US September non farm payrolls. I have my doubts whether it will have any significant impact on commodities. Most of the bad news on the US economy and easing has been priced in by the markets. Technically also, gold, silver, copper and crude are all bullish. The key major central bank risk is over after the European central bank and bank of England meeting. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 October, 2012
Gold climbed $16.56 to $1795.06 just before 2PM EST before it pared its gains a bit after the fed released Minutes from their September 12th meeting, but it still ended with a gain of 0.69%. Silver rose to $35.092 in early New York trade before it fell back to $34.655 in the next 15 minutes of trade, but it then rallied back higher for most of the rest of trade and ended with a gain of 1.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 October, 2012
New York closed up $22 at $1,778.50 little changed from yesterday. This morning Asia and London took it higher to $1,788.00 as the euro moved up to $1.2947. It was then Fixed at $1,786.50 up $8.75 and in the euro at €1,380.923 up €6, while the euro stood at $1.2937. Ahead of New York’s opening gold stood at $1,788.00 and in the euro at €1,380.38. Full Story
SPOT MARKET prices to buy gold climbed to $1794 an ounce ahead of Thursday's US session, a new 2012 high, while stock markets were broadly flat and US Treasury bonds fell ahead of the publication of minutes from the latest Federal Reserve policy meeting. Full Story
Gold inched up on Thursday, continuing its 4th day of gains as investors await more clues from central banks on further stimulus plans. Today, The ECB has a rate decision at 1145 GMT and Bank of England at noon local time. Investors will watch the key the nonfarm payrolls figure on Friday to determine if QE3 is beginning to stimulate the US economy. Full Story
It is very difficult to trade in periods of low intra day volatility. We are used to very high volatility these days. Trading as well as advising for intraday trade is not easy. There is always a fear that a one way movement can come anytime on either side and trigger our stop losses. Technical bullishness is there but days like yesterday are very few. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 October, 2012
Gold fell $3.50 to $1771.60 in Asia before it edged up to $1781.65 in early New York trade and then chopped back lower at times, but it still ended with a gain of 0.19%. Silver climbed up to $34.848 in early New York trade, but it then fell back off in afternoon trade and ended with a loss of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 October, 2012
New York closed up $22 at $1,775.10 only 20 cents different from this time yesterday. This morning Asia and London took it slightly higher to $1,777 before it was Fixed at $1,777.25 and in the euro at €1,374.729 down on yesterday by 2.5€, while the euro stood at $1.2928. Ahead of New York’s opening gold stood at $1,779.00 and in the euro at €1,376.78. Full Story
SPOT MARKET gold prices rallied to $1781 per ounce ahead of Wednesday's US session, recovering from slight losses earlier in the day to stay in line with recent trading, while stock markets were broadly flat and the Euro reversed earlier gains, as analysts speculated on when and whether Spain will request a bailout. Full Story
Gold continues to hover near its 11 month high in dollar terms and near new records and the €1,400 level in euro terms. The lack of confidence over Spain’s finances has kept investors alert as they await a US jobless report on Friday to ascertain just how poorly the US economy is. Recent data suggests that the US economy is in a recession and may be on the verge of a Depression. Full Story
It’s just a consolidation phase in gold, silver, copper and crude oil. Technically they are all bullish. The current consolidation phase will be broken soon and a new range will be formed. There can be big moves in gold and silver any time. One needs to be cautiously trading using stop losses. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 October, 2012
Gold climbed up to $1784.19 by a little after 8AM EST before it fell back to $1771.22 by a little after 10AM EST and then bounced back higher midday, but it then fell back off again in early afternoon trade and ended with a loss of 0.1%. Silver rose to $35.04 before it fell back to $34.385 and then also bounced back higher, but it still ended with a loss of 0.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 October, 2012
New York closed up $22 at $1,776.90 yesterday. This morning Asia and London took it slightly higher to $1,779.35 before it was Fixed at $1,778.50 and in the euro at €1,377.188 up $7, while the euro stood at $1.2914. Ahead of New York’s opening gold stood at $1,779.35 and in the euro at €1,377.21. Full Story
WHOLESALE gold prices hovered in a tight range just below $1780 an ounce for most of Tuesday morning in London, just below a new 2012 spot market high touched yesterday following comments from US Federal Reserve policymakers. Full Story
Many analysts predict more central banks will follow the ECB, US Fed and BOJ and increase ‘stimulus’ measures for their economies, flooding the market with cash. This global debasement of currencies will continue to benefit gold and silver bullion. Full Story
The Federal Reserve chairman dismissed accusations that September monetary easing will increase inflation and justified the same. This resulted in gold and silver falling first and then rising. The rise in gold and silver was further aided by a weaker US dollar. The slow and steady rise in gold and silver (after QE3) has reduced short term hot money flows and probably the opportunists are just waiting on the sidelines. Gold and silver are now being supported by long term investors. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 October, 2012
Gold saw notable losses in Asia before it rose to see an over 1% gain at $1791.20 by about 9AM EST, but it then fell back off midday and ended with a gain of just 0.2%. Silver surged to as high as $35.367 before it also fell back off at times, but it still ended with a gain of 0.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 October, 2012
New York closed up $22 at $1,773.30 on Friday. This morning Asia and London took it slightly lower before it was Fixed at $1,770.50 and in the euro at €1,372.800 up €7.50. The euro stood higher than Friday’s level at $1.2898 up half a cent on the dollar. Ahead of New York’s opening gold stood at $1,770.45 and in the euro at €1,372.76. Full Story
SPOT MARKET gold bullion prices dipped below $1770 an ounce during Monday morning London trading, though they remained in line with the last fortnight's price action, while European stock markets rallied along with the Euro following news late last week that the capital needs of Spain's banks are within existing provisions. Full Story
Gold was down Monday after seeing its largest quarterly rise in over two years, as it tracks a weaker euro on Spain’s struggle to control its finances deeply troubles investors. Moody's Investors Service's will make a decision on Spain's credit rating and it may be announced later today or will be forthcoming. Full Story
The US dollar bears and gold, silver, copper and crude oil bulls should face some serious resistance this week. We have the US September non farm payrolls this week. A bad number will not have any significant impact on the markets. A good number could change everything and will make investors rethink whether or not the Federal Reserve’s quantitative easing program announced last month was really justified. Full Story
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