By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 November, 2010
It looks like the U.S. market was caught by surprise yesterday when it tried to sink the gold price, taking it down to $1,332 before it rose overnight to almost touch $1,390. The moves were not only discounting the fall of the dollar but showed a gain in the euro as well. To understand why, one has to widen ones vision to look at the ‘big picture’ which tells us that QE 2 affects far more than the U.S. economy. Full Story
THE PRICE OF WHOLESALE gold bullion ticked back from a new US Dollar record in morning trade in London on Friday, setting a new all-time-high London Fix of $1384.20 per ounce after what one trader called Thursday's "phenomenal" gains. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 November, 2010
After an initial hiccup immediately following the fed’s announcement in after hours access trade yesterday, gold pretty much steadily rose throughout trade in Asia, London, and New York and ended near its late session high of $1383.90 with a gain of 3.41% at a new all-time closing high. Gold’s intraday record high of $1386.93 was set this past October 14th (and has already been surpassed in today’s after hours access session). Silver climbed to a new 30 year high of $26.075 in the last minutes of trade and ended with an impressive gain of 6.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 November, 2010
Mid-term elections in the U.S. were gold neutral. Fed statements appeared to be positive, but ahead of the announcement, some very brave ‘bears’ raided the gold market and in thin trade hammered the gold price down to $1,332, which held even after the announcement. Then the gold bull stuck a very sharp horn into the backside of the bears towards the close and it started to rise. Full Story
THE PRICE OF GOLD in wholesale dealing leapt at the start of US trading on Thursday, extending an overnight rise to within 0.5% of last month's record highs – and gaining $50 per ounce inside 21 hours – as the US Dollar sank in response to the Federal Reserve's hotly-anticipated "QEII" asset purchase program. Full Story
Gold fell initially after the QE2 announcement yesterday prior to recovering and it then rose steadily in after hours Asian and again in early European trading. Gold has risen to $1,362/oz due to the dollar falling and oil and commodities rising significantly in the aftermath of the announcement of the new $600 billion of quantitative easing. Full Story
The US dollar should continue to weaken and commodities will rise further as a result of the Federal Reserve move. The correction in commodity prices before the meeting suggest that the correction phase is over and that they can rise to new highs as long as they trade over yesterdays lows. Watch the US dollar all the time. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 November, 2010
Gold rose as much as $7.20 to $1364.20 in London before it fell over 2% in morning New York trade to as low as $1327.70 by a little after 11AM EST, but it then rallied back higher in the last couple of hours of trade and ended with a loss of just 1.47%. Silver climbed to as high as $25.01 by about 8AM EST before it dropped almost 4% to as low as $23.918 by late morning in New York, but it also surged back higher in late trade and ended with a loss of just 2.05%. Both metals have also rebounded further in after hours trade in reaction to the fed statement. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 November, 2010
The gold and silver market ignored the U.S. mid-term elections as the dollar sat at $1.403: 1€ in London ahead of the gold Fix at $1,358.5, fifty cents higher than before the election results started to come in. It was clear that the result came as no surprise to anybody. Full Story
THE PRICE OF GOLD was volatile in a widening price-range on Wednesday morning in London, whipping between $1353 and $1364 per ounce ahead of the Federal Reserve's widely-expected relaunch of quantitative easing, aka QEII. Full Story
Gold and silver rose again yesterday with silver reaching a new nominal 30 year high. Both are higher in trading today as markets await concrete data regarding the scale of the second phase of quantitative easing. QE2 may already be priced into the markets but a smaller than expected figure could see money come off the table. A higher than expected figure could see further gains in all markets and further increase the risk of asset bubbles. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 November, 2010
Gold rose as much as $8.58 to $1359.68 in early New York trade before it fell to see a $1 loss at $1350.10 at around 11AM EST, but it then bounced back higher in late trade and ended with a gain of 0.44%. Silver fell to $24.62 at around 8AM EST before it jumped up to $24.92 in the next half hour of trade and then fell back to around $24.70 by late morning in New York, but it also rallied back higher in late trade and ended with a gain of 1.26% at a new 30-year high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 November, 2010
Asia took the gold price up to $1,358 then London, just after the opening took it back down in line with the $: € exchange rate to $1,354 before taking it back up again just ahead of the long morning Fix which was set at $1,358.00. Full Story
THE PRICE OF GOLD retreated from an overnight rally to $1360 an ounce in London on Tuesday lunchtime, slipping back as European stock markets rose for the second day running. Full Story
Gold prices are higher today as the dollar is again under pressure ahead of the US elections and the Federal Reserve's decision regarding the scale of QE2. Oil prices above $83 a barrel is supporting gold and oil prices are up 9% in the last 30 days which will contribute to increasing inflation pressures. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 November, 2010
Gold rose as much as $8.90 to as high as $1365.40 in early London trade, but it then fell back off for most of the rest of the day and ended near its late morning low of $1348.70 with a loss of 0.4%. Silver climbed to as high as $25.04 in Asia before it also fell back off for most of trade in New York, but it still ended with a gain of 0.12% and made a new 30-year closing high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 November, 2010
A bright Monday morning saw gold run above $1,365 as the U.S. dollar slid down to nearly touch $1.40 again. Will we see the dollar defended again? If so the rise in gold will be tempered by that defense, but we have no doubt that defensive measures will be inadequate to hold the dollar high. Full Story
THE PRICE OF GOLD gave back an overnight rise to 8-session highs at $1365 per ounce in London trade on Monday morning, falling back as US stock markets opened strongly higher following better-than-expected manufacturing data. Full Story
Gold and silver rose in all currencies as markets opened in Asia, prior to giving up those early gains. However, in trading in London this morning both precious metals have risen and are higher as the dollar has come under pressure again. Equity markets are mixed in Europe despite most Asian markets closing positively - except for the Nikkei which fell 0.52%. Full Story
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