By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 February, 2011
The amounts coming out of the SPDR gold ETF in the States is falling at the moment. Yesterday saw around 1.2 tonnes of gold sold from that fund. However, don’t think that this is why the gold price dropped in the dollar. In the euro just ahead of the morning Fix the euro gold price has moved through €1,000 to €1,005.29. This is a €10 move in the gold price. The morning Fix clarified the daily demand & supply scene by Fixing at $1,359.00 and €1,004.73. Just ahead of New York’s opening the dollar gold price began to move higher at $1,362.70 in the middle. Full Story
DOLLAR-PRICED GOLD held onto this week's 1% gain in London trade by Friday lunchtime, holding steady against the rising US currency as bonds pushed higher but world stock markets headed for their first weekly loss in three. Full Story
Gold and silver are higher against all currencies (except the Canadian dollar) in the wake of the worse than expected trade deficit number ($40.6 billion). Sterling and euro are particularly weak against gold and the US dollar today. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 February, 2011
Gold fell as much as $13.20 to $1351.20 by about 8:30AM EST before it rallied to see a $1.60 gain at as high as $1366.00 three hours later, but it then fell back off a bit in the last couple of hours of trade and ended with a loss of 0.14%. Silver fell $0.618 to $29.662 before it rallied back to almost unchanged at as high as $30.278 by late morning in New York, but it also fell back off a bit in the last couple of hours of trade and ended with a loss of 0.53%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 February, 2011
Yesterday just over 2 tonnes of gold was sold out of the SPDR gold ETF in the States. This did not affect the gold price significantly, which held over $1,361. After London opened today the gold price slipped until it was Fixed at $1,358.75 before slipping slightly to $1,357.5 before New York opened. Full Story
THE DOLLAR price of gold slipped to two-day lows on Thursday morning as the US currency rose and world stock markets fell hard. Hong Kong's Hang Seng index lost 2% and London's FTSE100 dropping 0.9% by lunchtime. Silver prices shed 2.5% from Wednesday's early high. Full Story
Gold is down 0.32% against the US dollar which is higher against all major currencies today. Gold is marginally higher in euros, Swiss francs, and Aussie and Kiwi dollars. Silver is down 1% in US dollars and lower in all currencies. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 February, 2011
Gold fell $1.70 to $1361.40 in Asia before it chopped its way up to $1366.90 in midmorning New York Trade and then fell all the way to $1357.80 by about 11:30AM EST, but it then rallied back higher in the last couple of hours of trade and ended near its earlier high with a gain of 0.1%. Silver rallied to as high as $30.51 by about 8AM EST before it fell back to $30.06 by late morning in New York, but it also rallied back higher in late trade and ended with a gain of 0.23%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 February, 2011
Before London opened this morning gold stood at where it was at the close of business on Wall Street and roughly in line with the afternoon Fix at $1,363.50 and €999.71. This morning London took the price to $1,365 where it stood just ahead of New York’s opening. While the Chinese New Year is still affecting business in Asia, the premiums on gold bars is still high, due to tightness in supply for immediate delivery. This is indicative of steadily rising demand from Asia, not as a result of any event, but as a result in long-term, rising, demand by people buying for financial security. Full Story
THE PRICE OF GOLD rose back towards yesterday's 3-week peaks in London on Wednesday, pushing higher against all major currencies as world stock markets slipped. Crude oil rallied and US government bonds also ticked higher, while wheat prices hit near 3-year highs following news of a winter drought in China, the world's top producer. Silver prices rose again, hitting new 5-week highs above $30.50 per ounce – less than 2.5% below Jan.'s 30-year top. Full Story
Gold and silver are marginally lower against most currencies after yesterday’s 1% and 3% rise respectively. Gold rose above €1,000/oz again yesterday and remains just below the €1,000/oz level today despite the euro being stronger versus other currencies. Silver is back above the important $30/oz psychological level and €22/oz. Full Story
I have been reading the net and a lot of analysts have written off gold and silver. I have received calls from traders on gold and silver’s crash. I have been a silver bull all my life and will remain a silver bull for the next five years. Corrections are a part and parcel of a long term bull rally. In the last decade gold prices have risen from $300 to $1434 while silver prices have risen from $7.0 to over $31.0 an ounce. Corrections of twenty percent are a part of a long term bull rally and should be used as an investment opportunity. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 February, 2011
Gold rose about $10 in Asia before it fell back to almost unchanged at $1348.30 by a little before 8AM EST, but it then popped to $1365.09 in the first 15 minutes of trade in New York and continued to as high as $1368.05 before it closed with a gain of 1.17%. Silver rose over 1% in Asia before it fell to see a $0.033 loss at $29.267 in London, but it also soared back higher in New York and ended near its last minute high of $30.283 with a gain of 3.1%. Full Story
THE PRICE OF GOLD jumped to 3-week highs Tuesday morning in London, rising as world stock markets stalled and commodity prices fell following a new interest-rate hike by the People's Bank of China. Silver prices also recovered from an earlier dip after touching a four-week high at $29.80 per ounce. Since the start of Aug. 2010, daily swings in the price of silver have jumped to moving 2.5 times as fast as gold. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 February, 2011
After Fixing twice at the $1,347 level, gold moved higher in later trade and Asia held it up at that level overnight. This morning in London the gold price quietly held that level adding a tine $1 to the price before it was Fixed. The dollar was slightly weaker in London ahead of the Fix at $1.3660: €1 and so the Fix in London this morning was higher at $1,354.00 [previously $1,347.50] and lower in the euro at €992.74 [previously €997.04]. This is a classic case of currencies clouding the water. Full Story
Gold is higher in most currencies today except for the Aussie and Kiwi dollars; silver has risen by some 1% in US dollars and is higher against all currencies. Asian equities were mixed with the Nikkei higher (+0.41%) and the Hang Seng lower (-0.29%). European equities are mixed with tentative gains being seen in the BE 500 and the Stoxx 50. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 February, 2011
Gold climbed $5.30 to $1352.90 by about 9AM EST before it fell back to $1344.95 at 10AM and then rebounded back to $1352.25 just after 11AM, but it then fell back off a bit in the last couple of hours of trade and ended with a loss of 0.015%. Silver climbed to $29.34 and fell to $29.073 in early New York trade before it rose to a new session high $29.465 by late morning and then also fell back off a bit, but it still ended with a gain of 0.9%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 February, 2011
On Friday the gold price managed to hit $1,357 in New York but then fell back to $1,347 where it held through Asia and into London on Monday, where it was Fixed at $1,347.00 after Fixing on Friday p.m. at $1,355,00. In the Euro it pulled back to Fix in London’s a.m. at €992.19 after the Friday p.m. Fix at €999.93. Ahead of New York’s opening it was trading at the same level. Again the London Fix is where the gold price is being determined. There seems to have been a change of mood with the purchasing of 2.5 tonnes of gold on Friday to the positive on gold. We expect Asia to remain quiet until the holidays are over, when we expect the gold-positive tone to return to their markets. Full Story
WHOLESALE PRICES to buy gold and physical silver bullion were unchanged on Monday morning in London, holding steady with commodity prices as global stock markets rose. With the US Treasury slated to sell $72 billion in new debt this week, major-economy government bond prices slipped, pushing 10-year UK gilt yields up to a 9-month high ahead of Thursday's Bank of England decision on interest rates. Full Story
Gold is marginally lower in euro, pound and dollar terms and marginally higher in Japanese yen and Swiss francs. Silver is higher in all currencies. With gold’s 0.51% higher close last week (first rise in 5 weeks) and silver’s 4% rally, the bears will be nervous that the recent downward trend may have reversed. Full Story
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