THE PRICE OF GOLD ticked lower with equities, government bonds and crude oil in London dealing on Friday, but headed towards the US Columbus Day weekend almost 5% higher for the week. Full Story
After recording new record nominal highs on three consecutive days, gold appears to be taking a well earned breather. It has held steady above $1040.00/oz at the present time and looks set to record another higher weekly close and a historic record weekly close. It has retreated somewhat from record highs due to some profit taking and a partial recovery of the dollar. Full Story
The direct correlation between commodities and the US dollar continues. The US dollar gained after Fed chairman Bernanke said that the central bank will be prepared to tighten monetary policy when the outlook for the economy “has improved sufficiently.” Full Story
By: Chris Mullen, Gold-Seeker.com - 8 October, 2009
Gold rose about 1.5% to as high as $1058.32 in Asia before it fell back off in early New York trade to briefly see a 60 cent loss at as low as $1042.20 shortly after 10AM EST, but it then stormed back higher for most of the rest of trade and ended near its new all-time high of $1061.12 with a gain of 1.16%. Silver climbed to $17.91 in Asia before it fell to as low as $17.477 by midmorning in New York, but it also climbed back higher into the close and ended with a gain of 1.83%. Full Story
The U.S. dollar set a 14-month low today, making a new low in this bear trend. News that the unemployment rate in Australia dropped from 5.8% to 5.7% underscores the weakness troubling the U.S. dollar. While the U.S. lost roughly 263,000 jobs lost month, Australia added over 40,000 jobs, which would be the equivalent of over 550,000 jobs in the U.S. Full Story
THE PRICE OF GOLD rose yet again in Asia and London on Thursday, hitting fresh all-time Dollar highs for the third day running in what one dealer called a "relentless [move] as fresh investment money continues to flood into the bullion market." Full Story
By: Chris Mullen, Gold-Seeker.com - 7 October, 2009
Gold spiked up from roughly unchanged at around 4AM EST to as high as $1048.28 before it fell back to see slight losses in midmorning New York trade, but it then chopped its way back higher in the last few hours of trade and ended with a gain of 0.47%. Silver climbed to as high as $17.55 by late morning in New York before it fell back off a bit in the last couple of hours of trade, but it still ended with a gain of 1.28%. Full Story
THE PRICE OF GOLD touched fresh all-time Dollar highs in the first hour of London trade on Wednesday, recording an AM Gold Fix at $1047 an ounce before easing back as European stock markets retreated from new 13-month highs. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 October, 2009
Australia’s decision to raise its interest rate to 3.25% and rumors over a plan by Gulf states to stop using the dollar for oil trading sent gold to a new all time high of $1043.50 by late morning in New York before it fell back off a bit in the last couple of hours of trade, but it still ended with a gain of 2.05%. Full Story
Whether or not the move away from the dollar happens in 9 years or in 30 years, the fact remains that the U.S. hegemony is slipping away quickly. Who, or what, power will step into the void is the great unknown at this stage, which is why commodity prices, and that of gold in particular, will find good support in the years to come. Full Story
Gold has surpassed its all time record high ($1,033/oz) of some 18 months ago this morning and surged to a new record nominal high over $1,036/oz this morning. The reasons for gold’s new record historic high and likely continuing strength in the coming months are the same fundamentals factors that have been driving the gold market higher in recent months. Full Story
THE PRICE OF GOLD leapt in Asian and London dealing on Tuesday, recording its third-highest London Fix before rising further to hit a new all-time high for US-Dollar investors at $1035 an ounce. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 October, 2009
Gold traded mixed and near unchanged in Asia and London before it fell slightly to as low as $1001.65 in early New York trade, but it then spiked markedly higher starting around noon EST and ended near its late session high of $1017.35 with a gain of 1.38%. Silver fell to $16.119 in late morning New York trade, but it also jumped back higher in the last couple of hours of trade and ended near its high of $16.585 with a gain of 2.41%. Full Story
THE WHOLESALE PRICE OF PHYSICAL GOLD held tight around London's AM Gold Fix of $1004.25 an ounce early Monday, starting the week 1.4% higher from last Monday as world stock markets opened the week 4% down. Full Story
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