By: Chris Mullen, Gold-Seeker.com - 12 October, 2012
Gold climbed up to $1773.02 in early New York trade, but it then fell back off into the close and ended near its midafternoon low of $1752.24 with a loss of 0.74%. Silver slipped to as low as $33.46 and ended with a loss of 1.47%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 October, 2012
New York closed at $1,767.50 up $4.50. This morning, Asia and London dealers held it around that level. Gold was then Fixed at $1,767.00 and in the euro at €1,362.795, while the euro stood at $1.2966. Ahead of New York’s opening gold stood at $1,768.26 and in the euro at €1,362.82. Full Story
THE U.S. DOLLAR gold price eased lower Friday morning in London, falling to $1767 an ounce, 0.7% down on the start of the week, while stock markets also ticked lower and commodities were broadly flat. The silver price fell below $34 an ounce, before trading sideways until lunchtime in London. Full Story
Gold remains robust in euro terms at €1,364.50/oz and remains less than only 1% away from new record highs in the single currency (see chart). India and China are embarking on their peak consumption season which may create a boost to the physical market. The far from resolved debt crisis in Greece, Spain and most countries in the western world means that this is another correction and investors and store of wealth buyers should continue to accumulate on the dip. Full Story
Applications for jobless benefits dropped 30,000 to 339,000 in the week ended Oct. 6, the fewest since February 2008. The U.S. trade deficit widened in August as exports dropped, a report from the Commerce Department also showed today. The gap grew 4.1 percent to $44.2 billion from $42.5 billion in July. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 October, 2012
Gold climbed up to $1774.75 by a little after 8AM EST before it fell back to almost unchanged by midmorning in New York, but it then bounced back higher midday and ended with a gain of 0.26%. Silver rose to as high as $34.33 before it also fell back off and ended with a loss of 0.12%. Full Story
New York closed at $1,762.90 down $1. This morning, Asia and London dealers moved it up to $1,768.68 up $6. Gold was then Fixed at $1,767.25 and in the euro at €1,371.450 up €0.5, while the euro stood at $1.2886. Ahead of New York’s opening gold stood at $1,770.88 and in the euro at €1,371.55. Full Story
SPOT MARKET gold bullion prices climbed back above $1770 an ounce during Thursday morning's London trading – still a few Dollars below where it started the week – as the Euro also recovered ground following falls overnight after Spain had its credit rating cut. Full Story
Gold, silver, copper and crude oil have performed very well despite US dollar gains and the stock market’s fall. Investor sentiment has turned cautious on global growth warnings. The inability of quantitative easing three (by the federal reserve) to give a very sharp rise to commodities and equity markets (other than Asia) can result some three percent to four percent correction first before the next leg higher. Full Story
Gold climbed up to $1768.16 by about 8AM EST before it fell back to $1757.40 in the next 45 minutes of trade, but it then chopped its way back higher into the close and ended with a loss of just 0.06%. Silver slipped to $33.691 in Asia, but it then rose to as high as $34.14 in New York and ended with a gain of 0.5%. Full Story
New York closed at $1,764.00 down $10 in line with the fall in the euro. This morning, Asia and London dealers moved it again, in line with the euro’s moves to $1,762. Gold was then Fixed at $1,763.00 and in the euro at €1,370.918 up 1€, while the euro stood at $1.2860. Ahead of New York’s opening gold stood at $1,762.38 and in the euro at €1,369.69. Full Story
U.S. DOLLAR gold prices slipped for a third day in London on Wednesday, rallying from 2-week lows beneath $1761 per ounce as world stock markets also fell once again and industrial commodities held flat overall. Full Story
US dollar gains resulted in gold and silver falling while crude oil rose. This is just a consolidation phase for gold and silver. Technically they are in a neutral zone. At lower prices there are short term buyers as well as long term investors in gold and silver. Short term traders are buying on hopes that gold and silver will break $2000 and $42.00 before the close of the year. Full Story
Gold climbed to $1779.51 in early Asian trade before it fell back to $1760.56 by a little before noon EST and then bounced back higher midday, but it still ended with a loss of 0.6%. Silver rose to $34.21 before it dropped back to $33.554 and then also bounced back higher, but it still ended with a loss of 0.47%. Full Story
New York closed at $1,774.70. This morning, Asia and London dealers moved it in line with the euro’s moves to $1,773 with the euro at €1: $1.2931. Gold was then Fixed at $1,770.75 and in the euro at €1,369.913, while the euro stood at $1.29267. Ahead of New York’s opening gold stood at $1,772.77 and in the euro at €1,371.16. Full Story
SPOT MARKET prices for buying gold eased to just above $1770 an ounce during Tuesday morning London trading, around ten Dollars below where they started the week, while stocks and commodities were broadly flat despite major economies seeing their growth forecasts downgraded by the International Monetary Fund. Full Story
The IMF cut its global growth forecast for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump. For 2012, the IMF now expects global output to grow just 3.3 percent, down from its July estimate of 3.5 percent, making it the slowest year of growth since 2009. It predicted only a modest pickup next year to 3.6 percent, below its July estimate of 3.9 percent. Full Story
Gold fell $14.30 to $1766.60 in Asia, but it then climbed back higher throughout most of trade in New York and ended with a loss of just 0.35%. Silver slipped to as low as $33.776 before it also rebounded, but it still ended with a loss of 1.45%. Full Story
New York closed at $1,780.90. This morning Asia and London took it down to $1,768.00 even though the euro was unchanged at $1.2949. Gold was then Fixed at $1,769.00 and in the euro at €1,364.232, while the euro stood at $1.2967. Ahead of New York’s opening gold stood at $1,768.85 and in the euro at €1,365.89. Full Story
WHOLESALE-MARKET prices to buy gold fell 0.5% to $1770 per ounce in Asian and London trade Monday, holding more than $25 below Friday's new 11-month high as world stock markets also fell together with commodity prices. Full Story
This will not change Federal Reserve quantitative easing bias. It is too early to comment on US job recovery. If and only if the jobs growth continues till December then I will be forced to change my stance on quantitative easing. The US non farm payrolls numbers can reduce the pace of the rise of gold and silver and not the rise. Full Story
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