By: Chris Mullen, Gold-Seeker.com - 10 December, 2010
Gold remained near unchanged in Asia and London before it fell almost $20 in early New York trade to as low as $1372.15 shortly after 10AM EST, but it then rallied back higher in the last few hours of trade and ended with a loss of just 0.55%. Silver fell to as low as $28.038 before it also rallied back higher and ended with a loss of just 0.52%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 December, 2010
As President Sarkozy and Chancellor Angela Merkel ‘unify’ today in an attempt to present a political unity in the Eurozone [so that it can tackle the debt crises that have not gone away, the E.C.B. and other are managing to ‘assist’ the euro and the dollar exchange rates to give an appearance of stability. The reality is that the two currencies are slipping against the world’s other main currencies slowly but surely. Full Story
PHYSICAL WHOLESALE MARKET prices to buy gold held firm in London on Friday morning, nearing the end of what one London trader called “another roller-coaster week” some 1.7% lower for Dollar and Sterling investors but little changed vs. the single Euro currency. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 December, 2010
Gold climbed over $10 to as high as $1392.30 in Asia before it fell back to see a $0.95 loss at $1380.65 in London and then rallied to a new session high of $1394.00 at around 10AM EST ahead of another dip back to almost unchanged by late morning in New York, but it then climbed back higher in late trade and ended near its earlier high with a gain of 0.72%. Silver rose to $28.783 in Asia and fell to $28.345 in London before it also rallied back higher in New York and ended not far from its midmorning high of $28.99 with a gain of 1.91%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 December, 2010
New York cam in yesterday and knocked the gold price down from yesterday morning’s Fix of $1,426 and a euro at $1.3368 to $1,392 and a euro at $1.32. But in the euro that fall was from €1,062 to this morning’s Fix of €1,054.9 an €8 fall. This looks overdone. It also tells us that the Europeans are making the gold price right now. Full Story
THE PRICE OF GOLD bar prices moved sideways vs. the Dollar but recovered against a falling Euro in London trade on Thursday morning, doubling a 0.5% rise in Eurozone stock markets. “We believe a short-term top is now in place off $1430,” says technical analysis from market-maker Scotia Mocatta, pointing to “key support” at $1353. Full Story
Market focus has shifted to the US bond market and concerns about ultra accommodative US monetary and fiscal policy and continuing quantitative easing. This has seen heavy selling of long term US government debt and long term interest rates have thus risen. The yield on US 10 year Treasuries (benchmark cost of capital internationally) has risen from below 2.4% to over 3.2% in just two months and from 2.95% to 3.23% since just last Monday and the speed of the rise is what is concerning. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 December, 2010
Gold traded about 1% lower in Asia and London before it fell as much as $36.52 to as low as $1371.78 by about 10:30AM EST, but it then rallied back higher in the last few hours of trade and ended with a loss of just 1.9%. Silver fell to as low as $27.978 before it also bounced back higher in late trade, but it still ended with a loss of 5.14%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 December, 2010
New York cam in yesterday and knocked the gold price down from yesterday morning’s Fix of $1,426 and a euro at $1.3368 to $1,392 and a euro at $1.32. But in the euro that fall was from €1,062 to this morning’s Fix of €1,054.9 an €8 fall. This looks overdone. It also tells us that the Europeans are making the gold price right now. Full Story
THE PRICE OF GOLD continued to fall in Asia and London on Wednesday, dropping 2.8% from Tuesday's new record high of $1430 per ounce as commodity markets also fell and global stock markets stalled. Full Story
Gold and silver prices reached new record highs of $1,430.95/oz and 30 year highs of $30.68/oz respectively yesterday. It is important to remember that these are nominal highs of more than 30 years ago. Adjusted for inflation, the record highs are $2,300/oz and $130/oz (see silver charts below). Gold also reached new record nominal highs in sterling, euros and most major currencies yesterday on growing concerns about currency debasement. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 December, 2010
Gold climbed throughout most of trade in Asia and London and rose to a new record intraday high of $1430.90 by a little before 9AM EST, but it then fell back off for most of trade in New York and ended near its noontime low of $1402.44 with a loss of 0.49%. Silver climbed to a new 30-year high of $30.688 before it fell to as low as $29.55 in early afternoon trade, but it ended with a loss of just 0.2%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 December, 2010
With a gold Fix of $1,426.00 in London’s morning and a euro at $1.3368 we are in more than record territory. There can only be a few traders left who will look at the $: € exchange rate to point out what gold should be now. Gold in the euro is at a record €1,065.85 telling us that Europeans are happy to pay up for gold as the Eurozone crisis deepens. Full Story
THE PRICE OF GOLD held near last night's new record highs in US Dollars, Euros and British Pounds in London on Tuesday morning, recording an AM Gold Fix at $1426 per ounce as world stock markets gained more than 1.5%. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 December, 2010
Gold extended last Friday’s late after hours strength and rose to as high as $1418.68 in Asia before it fell back to $1410.10 in London, but it then rose to a new session high of $1420.64 by late morning in New York and ended with a gain of 0.73% at a new all-time closing high. Silver climbed to $29.298 in Asia before it fell back to $29.457 in London, but it then rose to a new 30-year high of $30.058 in New York and ended with a gain of 2.34%. Both metals have risen to new highs in todays after hours access trade as well. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 December, 2010
We are moving to a point where it almost doesn’t matter what the $: € exchange rate is and the gold price is reflecting this. This morning Asia moved the gold price 4$ higher than Friday’s close in New York as it touched $1,416, but then London pulled it down to Fix at $1,411.50. As London’s midday approached the gold price started to rise taking it back to $1,413 again ahead of New York’s opening. Full Story
THE PRICE OF GOLD touched a near-record $1419 per ounce in Asian trade early on Monday, easing back as the Euro slipped vs. the Dollar and world stock markets stalled after last week's sharp gains. Full Story
This US November non farm payrolls suggest that the Federal Reserve will continue with its easy money stance and that further increases in the money supply could be there if the US economy falls further. This suggests more gains for commodities for the week and the rest of December. Full Story
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