By: Chris Mullen, Gold-Seeker.com - 11 March, 2011
Gold rose $6.14 to $1419.04 in Asia before it fell to see a $8.25 loss at $1404.65 in London, but it then rose to a new session high of $1422.65 by midday in New York and ended with a gain of 0.57%. Silver climbed to $35.36 in Asia and fell to $34.04 in London before it also rallied back higher in New York and ended near its late session high of $35.99 with a gain of 1.93%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 March, 2011
The gold price rose €3 and $2 as the euro weakened slightly to $1.3766. It was Fixed in London at $1,409.75 and €1,024.08 not a great deal of movement since yesterday. The consolidation process continues. Full Story
THE PRICE of gold held at 10-session lows against the Dollar in London on Friday as world stock markets fell – and the US currency rose – after a powerful tsunami hit the Japanese coast north of Tokyo. Full Story
The massive earthquake and tsunami that has rocked Japan is being digested by markets and the economic ramifications and uncertainty is leading to risk aversion. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 March, 2011
Gold fell all the way to $1403.20 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 1.12%. Silver fell to as low as $34.658 and ended with a loss of 2.03%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 March, 2011
After the last two days of a strong gold price we are now looking at a quieter and lower day, which opened in London at around $1.424 at which it was Fixed [$1,424.25 down almost $7 - €1,029.08 up nearly €1]. To us this is a continuation of the consolidation process complicated by the exchange rate moves of the euro and the dollar. The €: $ exchange rate was lower at $1.3830 down a little. Full Story
THE PRICE OF BOTH gold and silver bars fell hard against the Dollar in London on Thursday, dropping to 1-week lows – as did the single Euro currency – after the Moody's rating agency downgraded Spanish government bonds and China reported a surprise trade deficit for Feb. Full Story
Risk aversion has returned with equity markets internationally under pressure after the Spanish downgrade and continuing geopolitical tension. Gold and silver have taken a breather and are lower in all currencies today. A correction is well overdue but the technicals and fundamentals would suggest that any sell off may again be short and shallow. Full Story
Gold went up to as high as $1436.25 shortly after the open of trade in New York before it fell back to $1426.41 by late morning, but it then bounced back higher in afternoon trade and ended with a gain of 0.13%. Silver rose to $36.41 and dropped to $35.62 before it also rallied back higher and ended with a 0.64% gain at a new 31-year closing high. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 March, 2011
After a day of weakening consolidation yesterday Asia failed to move the price up and it stood at 1,425.50 before London got going. Then ahead of the Fix London moved it back up to $1,430.10 just ahead of the Fix at 10.30 hrs London time. The Fix was set at $1,431.50 and at €1,031.34 this morning. The dollar and euro exchange rates barely moved initially as it held around $1.3865 in the morning. Then it fell €2.5 in the euro and rose $3 as the dollar weakened again to $1.3935 just before New York opened. Full Story
THE PRICE OF physical gold and silver bullion rallied near record highs once again in London on Wednesday, while European stock markets slipped and crude oil rebounded to recover half of yesterday's sharp losses. Full Story
Renewed fears over eurozone debt have seen the euro fall against most currencies and precious metals today. The yield on Greek 10-year bonds is approaching an alarming 13% after jumping to a new record high of 12.89% today (see bond charts below). The Portuguese 10-year rose to a new record high of 7.7% ahead of today’s auction where they borrowed 1 billion euros in order to avoid a “bailout”. Full Story
The Libyan war continues as the West thinks of imposing a no fly zone in Libya in a move to end war. The Federal Reserve will not raise interest rates this year and will prefer higher inflation to lower growth. The European central bank’s interest rate hike next month could be a one off move and it may not raise interest rates for the rest of the year. Full Story
Gold fell $8.22 to $1425.78 in Asia and rose $2.74 to $1436.74 in London before it fell back to $1423.00 by midmorning New York and then bounced back higher in late trade, but it still ended with a loss of 0.48%. Silver fell $0.41 to $35.49 in Asia before it rebounded to $36.515 in London, but it then fell back off in New York and ended with a loss of 0.36%. Full Story
THE PRICE OF GOLD slipped against a rebounding Dollar in London on Tuesday, briefly losing 1.4% from yesterday's new all-time high as world stock markets extended their losses. Major government bonds also slipped, while the Dollar knocked almost two cents off the Euro's new four-month high. That buoyed the gold price in Euros above €33,100 per kilo. Crude oil sank more than 2% following rumors of an emergency output-hike from the Opec nation cartel. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 March, 2011
Not only did gold hit a staggering $1,444 but the dollar fell to $1.40 against the euro. As forecast by us, the dollar saw some management and stands at $1.3886 today. Gold too has slipped in the dollar to Fix in London this morning at $1,435.00. Today, the power of the Fixing over the gold market was highlighted when it Fixed at more than four dollars above the price that was trading ahead of the Fix. This was two dollars lower than yesterday afternoon’s Fix. Full Story
Silver is higher against all currencies today and remains near yesterday’s 31 year high of $36.75/oz. Gold is slightly higher against most currencies, especially the Swiss franc and euro. While most of the focus continues to be on North Africa and the Middle East, the not inconsequential matters of the European sovereign debt crisis and the US’ dire fiscal situation continue to bubble away beneath the radar. Full Story
Yesterdays fall of gold, silver, and crude oil was just a technical correction which if it continues only till Wednesday will result in a short term bear phase. Copper had a technical breakdown over fears that higher crude oil prices will slow global growth. Reports that US could use its strategic crude oil reserves to prevent gasoline prices from rising will be bearish for crude oil in the short term. Full Story
Gold climbed as much as $16.60 to a new all-time high of $1444.50 by a little after 8AM EST before it fell back to unchanged at $1427.90 by about noon, but it then bounced back higher in afternoon trade and ended with a gain of 0.43%. Silver climbed to a new 31-year high of $36.732 before it also fell back off in New York, but it still ended with a gain of 1.76%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 March, 2011
Friday was a lackluster day until almost the end of the day. Through the weekend and on Asia’s Monday we saw gold take off. The afternoon Fix on Friday afternoon was at $1427 after the morning Fix of $1,418.00. In the euro the gold price’s upward move reflected the weakness of the dollar and was Fixed in the morning at €1,014.74 and in the afternoon at €1,019.29. Full Story
THE PRICE OF GOLD rose new all-time highs vs. a falling US Dollar on Monday morning in London, hitting almost $1445 per ounce as European stock markets held flat and major-economy government bonds slipped, nudging interest rates up. Full Story
Concerns about Libya, Saudi Arabia and the Middle East and North Africa continue to dominate markets. There are growing concerns of contagion and oil supply disruptions from the region. Oil and gold have risen and silver for immediate delivery surged another 2.3% after climbing to $36.5375/oz, the highest price since February 14, 1980 when silver reached a its nominal high $50.35/oz. Full Story
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