Gold has caught a nice bid this morning from a larger than expected 84k drop in nonfarm payrolls. Nearby resistance at 816.65/817.80 has been slightly penetrated, shifting focus to the 823.10 Fibonacci level. Above that, the important 844.00/850.00 zone would be back in play. Full Story
With gold demand internationally remaining extremely strong due to inflationary and macroeconomic concerns and uncertainty regarding the outlook for financial markets internationally, gold remains oversold and will likely resume its upward trend in the coming weeks. Full Story
SPOT GOLD PRICES struggled below $800 per ounce in Asia and London on Friday, heading towards a 5% loss for the week as the US Dollar rose yet again versus everything else except Treasury bonds. Full Story
The US dollar smile story continues. This has resulted in gold, silver, copper and crude oil trading with a softer bias. Demand for gold and silver is very high. This is reflected by the premiums in gold and silver bars along with delivery delays by the banks to the wholesalers. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 September, 2008
Gold and silver rose well over 1% to $815.10 and $13.18 by late trade in Asia before they fell all the way to $793.50 and $12.61 by late morning in New York, but they then rallied back higher in the last couple of hours of trade and ended with losses of just 0.58% and 0.39%. Full Story
Gold has edged higher after the dollar stabilized somewhat. Solid physical demand out of India at the beginning of the festival season is helping to underpin the yellow metal as well. Full Story
SPOT GOLD PRICES gave back half of a 1.6% rally at lunchtime in London on Thursday, trading at $809 per ounce as crude oil prices rose and global stock markets fell once again. Full Story
Gold has been in a range and consolidating between $775 and $845 for more than 3 weeks. A daily and weekly close above $845-$850 will be needed in order to rectify some of the serious technical damage done in recent weeks and to confirm the gold bull market remains in full effect. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 September, 2008
Gold fell over $15 to as low as $789.15 by late trade in Asia before it rose to see a $3.60 gain at $808.50 by midmorning in New York, but it then fell back off for most of the rest of trade and ended with a loss of 0.2%. Silver fell fifty cents and $12.54 by late trade in Asia before it rose back to about $13 in early New York trade, but it also fell back off into the close and ended with a loss of 1.07%. Full Story
Gold continues to probe below the $800 level, weighed by soft oil prices and a firmer dollar. At this point the mid-August low at 772.70 remains protected as strong physical demand on dips continues to offer support. Full Story
THE SPOT PRICE of physical gold sank below yesterday's two-week low early in London on Wednesday, dropping to $790 before bouncing to $801 an ounce as Western stock markets fell sharply. Full Story
Gold fell in early trading in London on further falls in oil prices ($108.24 a barrel - Light Sweet Crude Oil Future - Combined - OCT08) and on the continuing rally in the dollar (reached 1.4386 to the Euro) but gold has recovered some of its early losses. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 September, 2008
Gold fell almost $40 from Friday’s close to as low as $790.60 by early trade in New York today before it rallied nearly 2% off that low into the close, but it still ended with a loss of 2.92%. Silver dropped over a dollar to as low as $12.45 before it also rebounded, but it still closed with a loss of 4.05%. Full Story
I am finally back at the office after my 15-day journey around China. The long holiday weekend allowed me to get over my jet-lag and now I'm trying to get back to my normal daily routine. Given that Thursday was a travel day for me last week and Friday was a very long day of touring, I thought I'd take today to offer a wrap-up of my trip. Full Story
THE PRICE OF GOLD in Dollars dropped almost 2% at the London opening on Tuesday, sliding to $802 per ounce as crude oil fell at its fastest rate since the US invasion of Iraq in 2003. Full Story
Gold has continued to fall in trading in London as oil prices have continued their recent slide and are down nearly 5% to near $105 a barrel (Light Sweet Crude Oil Future - Combined - OCT08) and the dollar has risen to a 7 month high against the euro (below $1.45) and the US dollar index has risen to a 10 month high. Full Story
Yesterdays fall in crude oil prices is a case of “buy the rumour sell the fact” as hurricane Gustav did not live up to expectations. The fall in crude oil prices resulted in gains in the US dollar and precious metals and base metals selling off. Full Story
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