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Weekly Archives
By: Peter A. Grant, USAGOLD - 11 April, 2008
Gold has adopted a consolidative tone after retracing just over 38.2% of the recent corrective decline from $1032.20. With the dollar maintaining a soft tone and oil within striking distance of the recent record highs, the downside for the yellow metal is thought to be limited. Full Story |
By: Adrian Ash, BullionVault - 11 April, 2008
SPOT GOLD moved sideways in London trade early Friday, recovering last night's US close near $929 per ounce after a 1.1% fall, as finance ministers from the G7 group of seven richest economies met in Washington to discuss the on-going global banking crisis. Full Story |
By: Chintan Karnani, Insignia Consultants - 11 April, 2008
Markets will be looking forward to the G7 meeting this week for surprises (if any) and their comments on global financial markets. Else there is hardly anything to comment on the metals and energy market. Full Story |
By: Chris Mullen, Gold-Seeker.com - 10 April, 2008
Gold rose to $939.70 by midday in London before it fell $921.77 by early afternoon in New York, but it then rebounded over $6 higher into the close and ended with a loss of just 0.69%. Silver rose to $18.40 and fell to $17.795 before it also rallied back higher in the last hour of trade and ended with a loss of just 1.3%. Full Story |
By: Peter A. Grant, USAGOLD - 10 April, 2008
Gold continues to retrace recent corrective losses, bolstered by new all-time highs in oil and a new record low in the dollar against the euro. The return of broad-based dollar weakness and the resumption of the uptrend in oil bodes well for the underlying uptrend in gold as well. Full Story |
By: Adrian Ash, BullionVault - 10 April, 2008
SPOT GOLD PRICES rose to an eight-session high for US investors above $939 per ounce as the Wall Street open drew near on Thursday as world stock markets fell and broad commodity prices rose 2.3%. Full Story |
By: Gold Investments - 10 April, 2008
The fundamentals driving the gold market remain very sound with oil remaining near record highs, the dollar and sterling under pressure and the credit crisis remaining a serious concern. Under these circumstances gold looks very well supported above $880 per ounce. We could see gold consolidate between $870 and $950 in the short term prior to surpassing the psychological $1,000 level again in the coming weeks. Full Story |
By: Chintan Karnani, Insignia Consultants - 10 April, 2008
Commodities have been benefiting on lack of alternate investments and global realignment of the US dollar. Tight supplies of food, limited availability of land, competition in land usage for production of biofuels, and rising demand, are creating serious food supply shortages and triggering rising food prices around the world. Full Story |
By: Chris Mullen, Gold-Seeker.com - 9 April, 2008
Gold fell to $902.80 by late trade in Asia and remained about $10 lower in early London trade, but it then took off at the New York open, steadily gained for the rest of the day, and ended at its high of the session with a gain of 2.2%. Silver fell to $17.365 in Asia before it also took off in New York and ended near its high of $18.39 with a gain of 3%. Full Story |
By: Peter A. Grant, USAGOLD - 9 April, 2008
Gold remains consolidative at the low end of the recent range, weighed by slightly lower oil and continued talk about IMF gold sales. There has also been some improvement in risk appetite, stemming from an expectation that a viable solution to the global credit crisis - or at a minimum some consensus on what to do about the dollar - is going to be forthcoming once the G7 meets this weekend. Full Story |
By: Adrian Ash, BullionVault - 9 April, 2008
SPOT GOLD PRICES slid into the London opening on Wednesday, reaching a four-session low of $903.60 per ounce before bouncing 1.4% to recover the day's losses on news that US gasoline prices have reached a new record high for consumers. Full Story |
By: Gold Investments - 9 April, 2008
Gold is down some 1% in early trading in London this morning. Gold was down $11.10 to $914.00 per ounce in trading in New York yesterday and silver was down 41 cents to $17.68 per ounce. The London AM Gold Fix at 1030 GMT this morning was at $906.75, £460.40 and €576.56 (from $921.00, £465.95, €584.65 yesterday). Full Story |
By: Chris Mullen, Gold-Seeker.com - 8 April, 2008
Gold rose to $925.13 by late trade in Asia before it fell to as low as $907.50 by early trade in New York, but it then rallied back higher into the close and ended with a loss of just 0.9%. Silver remained above $18.00 in Asia before it fell to as low as $17.41 by early trade in New York, but it also rallied back higher in the last 4 and ½ hours of trade and ended with a loss of just 2.1%. Full Story |
By: Peter A. Grant, USAGOLD - 8 April, 2008
Gold has softened within the recent range amid renewed talk of IMF gold sales. However, the underlying bias remains positive in the wake of oil's recent retest of the record highs and the generally soft dollar tone. Full Story |
By: Adrian Ash, BullionVault - 8 April, 2008
The price of Gold slipped 1.5% from an overnight high as the US opened for business on Tuesday after the International Monetary Fund (IMF) approved a decision to start selling 400 tonnes of its bullion reserve. Full Story |
By: Gold Investments - 8 April, 2008
Gold has fallen in London most probably on profit taking but looks well supported due to dollar weakness, oil back near $110 a barrel and inflationary concerns. This is leading to strong physical demand internationally at these levels (as seen in recent flows particularly into the ETFs - the silver ETF alone has increased by a significant 5 million ounces alone in recent days). Full Story |
By: Chintan Karnani, Insignia Consultants - 8 April, 2008
Dubai Multi Commodities Centre plans to start a venture with the World Gold Council to trade the first Islamic securities backed by gold bullion. Through a joint venture called Dubai Gold Investments, the partners plan to create Dubai Gold Shares and list them on the Dubai International Financial Exchange Ltd. Full Story |
By: Chris Mullen, Gold-Seeker.com - 7 April, 2008
Gold traded slightly higher above $910 in Asia and climbed over $915 in London before it rose to as high as $929.27 by late morning in New York and then fell back off slightly in the last couple of hours of trade, but it still ended with a gain of 1.5%. Silver briefly dipped to $17.69 in Asia before it rallied higher in London and New York and ended near its late morning high of $18.233 with a gain of 2.1%. Full Story |
By: Peter A. Grant, USAGOLD - 7 April, 2008
Gold edged modestly higher overseas, as the recovery from recent corrective tests below $900 continues. Increased talk of a US recession and further rate cuts by the Fed are expected to weigh on the dollar, which should underpin gold. Renewed strength in oil has increased the hedge appeal of the yellow metal as well. Full Story |
By: Adrian Ash, BullionVault - 7 April, 2008
GOLD PRICES jumped to a four-session high above $918 per ounce in London trade early Monday, rising 0.5% from last week’s close as crude oil rose 1% and world stock markets ticked higher. Full Story |
By: Gold Investments - 7 April, 2008
Gold is up in Asian and early trading in London this morning. Gold was up $3.60 to $909.30 per ounce in trading in New York Friday and silver was up 32 cents to $17.71 per ounce. The London AM Gold Fix at 1030 GMT this morning was at $914.70, £460.27 and €582.17. Full Story |
By: Chintan Karnani, Insignia Consultants - 7 April, 2008
Expectations of a half a percentage interest rate hike has increased after last week’s March payroll numbers which will support metals and energy prices at lower levels. The US dollar will trade with a softer bias unless the European central bank says that it will cut interest rates. Full Story |
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