Gold and silver traded with modest gains in Asia and London before they soared roughly higher 3% in early New York trade and made highs of $967.85 and $18.88 by around 10AM EST. Both metals than consolidated their winnings in late morning trade and fell over 1% from their highs by about noon, but they then rallied back higher in the last hour and a half of trade and ended with advances of 1.95% and 2.64%. Full Story
Gold has pushed to nearly 4-month highs, spurred by surging oil prices and heightened geopolitical tensions. The violation of key chart/Fibonacci resistance at 954.70/960.88 clears the way for a return to the $1,000 level. Full Story
SPOT GOLD PRICES came within one dollar of a 15-week high early Friday in London, jumping 2.6% from yesterday's low as European stock markets fell for the sixth time in nine sessions. Full Story
Gold continues to rally on the surging oil price (which is back near record highs), surging commodities and renewed weakness in the dollar. Not to mention safe haven buying on geopolitical risk in Iran. Oil is up nearly 2% again this morning after yesterday's nearly 4% surge. Full Story
US housing sector woes continue with Freddie Mac and Fannie Mae. This resulted in a decline in the US dollar. Crude oil pared this week’s losses after Brazilian oil workers threatened a strike. Full Story
Gold fell slightly to $925.27 by late trade in Asia and traded a couple of dollars higher in London before it took off in midmorning New York trade and ended near its high of $944.55 with a gain of 1.48%. Silver dropped to $18.02 before it rose to as high as $18.32 in New York and ended with a gain of 0.72%. Full Story
Gold is pushing higher within the range as US stocks slid to 2-year lows on Wednesday. Additional Iranian missile tests are helping to keep the yellow metal underpinned as well. Full Story
THE PRICE OF GOLD leapt 1% to a one-week high at the US opening on Thursday while oil prices struggled near $136 per barrel and European stock markets caught up with the S&P's latest 2% drop. Full Story
With geopolitical risk remaining high and financial risk elevated (as seen with U.S. financial stocks yesterday experiencing their largest one day fall since the start of the current financial crisis nearly a year ago - meaning that the benchmark S&P 500 is officially in a bear market) gold is again receiving safe haven and inflation hedging investment flows which is resulting in higher prices. Full Story
Base metals rose sharply. Lead and Zinc were the star performers on valued based buying and short covering. Copper fell but recovered a sharp pull back. Fund managers seem to have started investing in zinc and lead which if it continues could result in the resumption of a bull run. Full Story
Gold dropped $4.20 to $916.95 by a little after 8AM EST, but it then rallied back higher for most of the rest of trade and ended near its high of $928.20 with a gain of 0.62%. Silver fell slightly in Asia and remained near unchanged in London before it rose throughout trade in New York and ended near its high of $18.127 with a gain of 1.63%. Full Story
Gold has firmed within the recent range on news that Iran test fired missiles with the capability of reaching Israel and US bases in the region. Rising geopolitical tensions in the Middle East have pushed oil prices higher as well, which is also helping to underpin gold. A military conflict with Iran would likely result in disrupted supplies in the region. Full Story
THE SPOT PRICE OF GOLD gave back a 1% rally in London on Wednesday, trading $20 per ounce below this time last week as crude oil managed only a slight bounce on news of an Iranian missile test. Full Story
Gold is up so far today after Iranian state media reported that the country had test-fired missiles that could reach Israeli and U.S. bases in the region. Iran's state media reported that Iran had test-fired nine long-and medium-range missiles. The tests occurred at a time of increased tension between Iran and Israel over Tehran's nuclear programme, which the U.S. fears is aimed at making bombs. Iran says its nuclear programme is for power generation. Full Story
Gold rose to $933.20 by late trade in Asia before it fell over $20 to $912.45 by late morning in New York, but it then rallied back higher in the last two hours of trade and ended with a loss of just 0.6%. Silver rose to $17.95 and fell to $17.44 before it also rallied back higher and ended with a loss of just 0.14%. Full Story
Gold has adopted a choppy tone as mixed signals from Iran over the past several days have increased risk aversion. Iran has ramped up its saber rattling, just days after giving a "constructive" response to the latest offer of incentives aimed at encouraging the nation to halt its uranium enrichment program. Full Story
THE PRICE OF GOLD surged and then fell back in yet more volatile trade early Tuesday, regaining all of yesterday's 1.9% drop before slumping $14 per ounce. Full Story
Gold finished trading in New York yesterday at $925.90, down $6 and silver fell to $17.85, down 43 cents. Gold then sold off somewhat in the New York Globex electronic market before rising again in Asian and early European trading to over $930 per ounce. A lessening likelihood of a military confrontation with Iran contributed to the fall in oil and gold's slight sell off. Full Story
Gold fell $17 from Thursday’s pre-holiday close to as low as $914.60 by midmorning in New York on Monday, but it then stormed back higher in the last hour and a half of trade and ended near its high of $928 with a loss of just 0.53%. Silver traded about 2% lower in Asia and London before it fell even further to as low as $17.54 by a little after noon EST in New York trade, but it also rallied back higher into the close and ended $0.275 of its low with a loss of 2%. Full Story
Gold has dipped back below the midpoint of the range, weighed by a rebound in the dollar and slightly easier oil prices. The dollar index continues to recover from the 72.00 zone, bolstered by a more neutral stance from the ECB last week. Better than expected, although still quite negative, US jobs data last week served to underpin the greenback as well. Full Story
PHYSICAL GOLD BULLION PRICES fell hard in Asia and London early on Monday, dropping almost 2% from Friday's 15-week closing high – their best level since peaking above $1,000 per ounce as the Federal Reserve stepped in to rescue Bear Stearns in mid-March. Full Story
Gold will likely continue to outperform oil in the coming weeks and months as the gold to oil ratio reverts to its post World War II mean average of 15 or 15 barrels of oil to one ounce of gold. Currently it is at near an all time record low at 6.46, or one ounce of gold can only buy 6.46 barrels of oil (based on gold at $920 divided by oil at $142.20). Thus, gold remains extremely cheap vis a vis oil. Full Story
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