By: Chris Mullen, Gold-Seeker.com - 9 January, 2009
Gold and silver traded mostly slightly higher in Asia and London before they fell as much as $9.90 to $844.00 and $0.14 to $10.96 by about 10AM EST in New York and then shot upward to new session highs of $868.50 and $11.60 to see gains of 1.7% and 4.5% by a little after noon EST, but they then fell back off into the close and gold ended with a negligible loss while silver ended with a gain of 1.53%. Full Story
THE LIVE PRICE of wholesale Gold Bullion bounced in a $10 range early in London on Friday, trading just shy of $860 an ounce as new US data confirmed a six-decade record in US job losses. World equities fell while the US Dollar rose sharply on the currency market. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 January, 2009
Gold and silver traded slightly higher in Asia before they dropped slightly in London to as low as $837.16 and $10.79 by a little before 8AM EST, but they then rocketed higher in early New York trade and saw gains of 2.86% and 2.03% at as high as $864.15 and $11.32 before a slight pull back into the close that left gold with a gain of 1.64% and silver with a gain of 0.05%. Full Story
Gold is trading higher in early US trading, bolstered by the Bank of England's decision to cut the repo rate by 50bp to a record low of 1.5%. Ongoing concerns about the global economy, bleak expectations for tomorrow's US payrolls number and heightened geopolitical tensions in the Middle East and on the subcontinent are all helping to underpin the yellow metal. Full Story
SPOT GOLD PRICES held in a tight $5 range early in London on Thursday, recording an AM Gold Fix fully 2.5% below yesterday morning at $842.50 per ounce. Global stock markets also added to Wednesday's sharp losses, despite a record-low cut to interest rates from the Bank of England – the world's fourth-largest central bank. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 January, 2009
Gold and silver remained near unchanged in Asia and London before they dropped as much as 3.38% and 4.82% to $835.55 and $10.87 by midmorning in New York and then cut into their losses a bit by early afternoon, but they subsequently fell back off in the last hour of trade and ended with losses of 2.84% and 2.85%. Full Story
THE PRICE OF WHOLESALE GOLD BULLION slipped from its best Dollar-level so far this week Wednesday lunchtime in London, ticking back to $861 per ounce as European stock markets fell over 1%. Full Story
Gold and Silver Investments are the fourth most bullish on gold but the most bullish on silver. We believe our estimates to be conservative as the average price of gold in 2008 was some $872/oz and thus an average price of some $1,020 is only some 20% above the 2008 average price. Similarly a high of $1,250 is only 21% above the 2008 high. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 January, 2009
Gold and silver fell as much as 2.06% and 4.31% to $838.70 and $10.76 by late trade in Asia before they steadily climbed higher in London and morning New York trade to see just slight losses by about noon EST, but they both then soared even higher in the last hour and a half of trade and ended near their session highs of $866.00 and $11.453 with gains of 0.98% and 1.56%. Full Story
Gold has fallen again today and is down some 1% but continues to consolidate between $830/oz and $890/oz. Gold should remain well bid given the degree of international macroeconomic and geopolitical risk challenging us as we enter the New Year. The Middle East tensions continue to escalate and oil is up another 2.5% again today to some $50 per barrel again. Silver has outperformed even gold in the last 30 days and is trading very well – up nearly 17% versus gold’s rise of 12%. Full Story
THE PRICE OF GOLD fell further in London on Tuesday morning, sliding 2.2% from Monday's US close to hit $840 an ounce – its lowest Dollar-level since Christmas Eve. European stock markets rallied, while government bonds also retreated, pushing 10-year US Treasury yields up to 2.51%. Full Story
In 2009 all the metals and energies may not move in a straight line/linear northward direction or in a one way southward direction. Trading in 2009 will be like a zig-zag correction with most commodities moving in a direction. Detection of the trend will be the key for the short term trader as well as long term trader. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 January, 2009
Gold rose $7.67 to $885.17 and silver climbed $0.255 to $11.74 in early Asian trade before both metals plummeted to as low as $844.10 and $10.543 by about 9AM EST to see losses of 3.8% and 8.2%, but they then rallied back higher into the close and ended with losses of just 2.4% and 2.1%. Full Story
THE SPOT PRICE OF WHOLESALE GOLD slipped for the second session running on Monday, starting New York's first serious trading day of 2009 down 3.3% as Asian stock markets closed sharply higher. The US Dollar knocked the Euro 3˘ lower on the forex market while Gold Prices fell to a six-session low. Full Story
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