By: Chris Mullen, Gold-Seeker.com - 10 August, 2007
Forced margin liquidation and subprime related loss covering that secondarily appeared to impact gold yesterday abated today as gold’s safe haven status reemerged amid continued credit worries that put further significant downward pressure on most other world markets and paper assets. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 10 August, 2007
The turbulent financial markets of the past few weeks have certainly been exciting, a welcome respite from the usual lackluster summer doldrums. But whenever volatility increases, especially after a long period of time lacking it, long-latent fears of investors and speculators flare brightly. Full Story
“Down and Out”, this is all I can comment on the current market scenario. BNP Paribas withdrawal from three of its funds has dented the confidence day traders and investors. Just when things start to cool down and investors forget and start all over again, some hedge fund reports huge losses and stops withdrawal. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 August, 2007
Gold fell along with the majority of assets as traders were forced to sell any and everything in their portfolios to raise cash and buy back borrowed yen among other things. It seems counterintuitive that traders would sell the ultimate safe haven asset to do so, but many are motivated to sell assets that show gains in order to offset losses in other investments that they are forced to cover due to margin calls and other necessary obligations. Bottom-line, this looks like a short-term and erroneous reaction in gold and such events have proven to be short-lived opportunities in the past. Full Story
US president George Bush reassured the investment community that the US economy strong and that they need not worry about volatile stock markets. Yesterday, the Fed came out with similar words on US economic growth and US interest rates. These moves are to ensure that stock markets, carry trades continue and the US dollar trades with a softer bias. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 August, 2007
Gold remained near unchanged in Asia before it began to rise in London and topped $676 at about 10:45AM EST in New York, but it then fell back off slightly into the close and ended about $2 off its high with a gain of 0.58%. Silver rose over $13.15 in morning New York trade before it also fell back off slightly into the close, but it still ended with a gain of 0.46%. Full Story
Gold and silver are consolidating after the Fed meeting. Mr.Bernanke, true to his style did not surprise the markets. After the US housing debacle, investors will be cautious in making their investments. Investors and fund managers are churning their portfolio not just in equities but also in commodities. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 August, 2007
Gold traded mostly slightly lower in Asia and London before it furthered its losses in early New York trade to as low as $665.80 by about 9:30AM EST, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.07%. Silver dropped to $12.88 in early morning New York trade, but it then shot higher between about 9:30 and 11AM, remained near its high into the close, and ended with a gain of 0.62%. At the time of writing, both metals are trading slightly higher from their close in reaction to the fed’s statement. Full Story
Equity investors must be a nervous lot as the Dow Jones falls by 200 points one day only to rise by 400 points the next. August so far has been a choppy run for the equity markets as well the commodity markets. It’s a liquidity driven market in the medium term. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 August, 2007
Gold traded mostly slightly lower in Asia before it rebounded and saw small gains in London above $674, but it then slowly and steadily fell off in morning New York trade to as low as $668.50 ahead of a rebound in the last hour of trade that left it with a loss of just 0.19%. Silver dropped to as low as $12.91 before it also rebounded in afternoon trade, but it still ended with a loss of 0.92%. Full Story
Volatility in all the major markets, be it equities, currency or commodities has been on higher side over the past two weeks. The US dollar is getting bashed up from all the quarters including the yen due to slowdown in US economy (apart from sub prime crisis). Carry traders flourish in a certain environment and low volatility. Full Story
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