By: Chris Mullen, Gold-Seeker.com - 9 November, 2012
Gold fell $5.72 to $1727.08 by a little after 8AM EST before it climbed to as high as $1738.67 in the next couple of hours of trade, but it then fell back off into the close and ended with a loss of 0.1%. Silver slipped to $32.057 before it shot up to $32.775 and then also fell back off, but it still ended with a gain of 0.46%. Full Story
SPOT PRICES in the wholesale gold bullion market traded above $1730 an ounce Friday morning in London, having earlier touched a two-week high, while stocks fell and the Dollar and US Treasury bonds gained, with analysts suggesting weak growth and monetary policy are likely to persist. Full Story
Gold is 3.35% higher and silver 4.53% higher this week in US dollars in the aftermath of Obama's re-election. Gold in euros looks set to break out above €1,400/oz and is 4.1% higher and in sterling gold has risen 3.7% so far this week. Silver is 5.25% higher in euros and 4.8% higher in pounds. Gold and silver are set for higher weekly closes in all fiat currencies which may negate the recent bearish short term technical picture and set the precious metals up for the traditional yearend rally. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 November, 2012
Gold edged up to $1721.04 in Asia before it fell back to $1712.59 at about 9:30AM EST, but it then rallied back higher for most of the rest of trade and ended near its late session high of $1734.85 with a gain of 0.84%. Silver slipped to $31.62 in London, but it then rose to as high as $32.412 in New York and ended with a gain of 1.76%. Full Story
SPOT MARKET gold prices hovered just below $1720 an ounce Thursday morning in London – 2.4% up on last week's close – while stocks recovered some ground following losses yesterday, and the Dollar ticked higher, as central banks in the UK and Europe left monetary policy unchanged. Full Story
Gold rose for a third day yesterday after confirmation that President Barack Obama won re- election, while stock markets fell sharply and treasuries headed for the biggest advance in 11 weeks. Robust investment demand continues and may intensify after the election and exchange traded products backed by gold attracted $2.5 billion of inflows in October alone. Full Story
We need to be careful with the way we trade. Days like yesterday can result in huge losses for everyone. After the news of Barack Obama getting reelected as the US president everyone went long in gold and commodities only to get a shock and stop losses getting triggered as gold prices fell like a pack of cards. They recovered later but buy stop losses were triggered and losses incurred. Patience is the need of the hour for jobbers. Moves will come, we just need to find the right trend. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 November, 2012
Gold climbed $15.40 to $1731.60 at about 5:30AM EST before it fell back to as low as $1703.11 in late morning New York trade, but it then rallied back higher in afternoon trade and ended with a gain of 0.12%. Silver slid to as low as $31.209 before it also rallied back higher in late trade, but it still ended with a loss of 0.56%. Full Story
SPOT PRICES for buying gold fell back to $1720 an ounce Wednesday morning in London, after hitting two-week highs following news of the re-election of Barack Obama as US president. "Gold is making significant gains on the back of a weak US Dollar," said this morning's commodities note from Commerzbank. Full Story
Gold fell slightly in Asia prior to eking out further gains and rising above $1,730/oz in early European trading after President Obama was confirmed as the next President of the U.S.A. Obama’s election means that quantitative easing, ultra loose monetary policies and currency debasement are set to continue in the world’s number one economy which is bullish for gold – and indeed silver. Full Story
All eyes will be on who becomes the US president. The rise in gold and silver prices yesterday suggests that Barack Obama could win the US presidential race. I will not comment much on gold and silver as we need to wait for the final results before giving a view. Base metals and energies are also bullish. Intra day volatility will rise when the elections results are declared. Trade carefully. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 November, 2012
Gold traded modestly higher throughout most of trade in Asia and London, but it then accelerated its gains in late morning New York trade and ended near its early afternoon high of $1720.74 with a gain of 1.91%. Silver surged to as high as $32.25 and ended with a gain of 2.76%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 November, 2012
New York closed at $1,684.10 down nearly $37.00. This morning, Asia and London dealers lifted it back over $1,690 before it rose to Fix at $1,691.75 and in the euro at €1,321.576 while the euro was much lower at €1: $1.228.04. Ahead of New York’s opening gold stood at $1,693.25 and in the euro at €1,322.44. Full Story
WHOLESALE MARKET gold prices extended their gains from a day earlier Tuesday, rising above $1690 an ounce in London this morning – 1% up on yesterday's two-month low – while stocks and commodities also ticked higher and US Treasury bonds fell, as voters head to the polls for the US presidential election. Full Story
Gold is relatively unchanged on Tuesday as investors await the US presidential election results, and remain cautious with news of Greece’s 2 day general strike against the new austerity package plus the upcoming Chinese leadership transition. Full Story
There will now be a fight between long term bulls and short term bears in gold and silver. Copper and other base metals should bottom out soon. We have the US presidential elections today and by tomorrow morning we will come to know who will rein the world for the next four years. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 November, 2012
Gold fell $5.42 to $1672.58 in Asia, but it then climbed to as high as $1686.15 in New York and ended with a gain of 0.36%. Silver slipped to $30.64 in Asia, but it then climbed to as high as $31.24 in New York and ended with a gain of 0.78%. Full Story
SPOT MARKET gold bullion prices rallied above $1680 an ounce Monday morning in London, having earlier fallen to a nine-week low, while stock markets edged lower and US Treasury bonds gained, with one day to go before the US presidential election. Full Story
Gold edged up a bit on Monday, limiting the fall after the better than expected US jobs number sent the yellow metal downward to a two month low. If the US Fed doesn’t need to embark on more stimulus measures this may limit the yellow metal’s appeal with investors who see continuous money printing by central banks as increasing inflation and debasing currencies. Full Story
The US presidential election is there tomorrow and on Thursday we have the bank of England meeting and the European central bank meeting. The market perception is that a reelection of Barack Obama will result in gold and silver zooming from next year while a Mitt Romney win can result in short term bearish trend in gold and silver. Momentum is certainly bearish for gold and silver. Full Story
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