By: Chris Mullen, Gold-Seeker.com - 12 November, 2010
Gold fell almost 2% in Asia before it rebounded in London to see a loss of just $9.05 at $1395.15 at about 9:30AMEST, but it then fell back off for most of trade in New York and ended near its early afternoon low of $1359.75 with a loss of 2.73%. Silver climbed back to as high as $27.29 at about 10AMEST before it also fell back off for most of the rest of trade and ended near its early afternoon low of $25.81 with a loss of 5.04%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 November, 2010
After the Festival of Lights in India, called Diwali, Indian buying of gold will pause. The dip in the gold price of around 2% is a healthy and normal market correction. The knee-jerk $: € moves led by traders, has taken the gold price down in the dollar. The dollar, over the last week, has moved from $1.424 to the current $1.36.17 at the moment. This is a 4.27% move in the dollar against the euro. Gold has pulled back from its dollar peak of $1,424 to the current $1,382 a 3% move leaving the gold price higher in the euro. Full Story
THE PRICE OF GOLD gave back the last of this week's move to new Dollar and Sterling record-highs in London trade on Friday, but held nearly 1.8% stronger for Eurozone investors as the Irish debt crisis forced a joint statement from European leaders attending the G20 summit in Seoul. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 November, 2010
Gold rose over 1% to as high as $1417.65 by midday in London before it fell to see a $2.90 loss at $1397.60 by late morning in New York, but it then rallied back higher in the last couple of hours of trade and ended with a gain of 0.26%. Silver climbed to $27.827 and dropped to $26.913 before it also rallied back higher and ended with a gain of 1.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 November, 2010
All eyes are on the G-20 meeting as frictions mount between China and the U.S. The U.S. takes the attitude that the best thing for the world is for the U.S. to grow. Unfortunately this means dollar weakness, so adjust! China says, you’re playing the games you are accusing us of so don’t expect us to adjust. Result monetary conflict, capital controls, self interest veering towards protectionism. Full Story
THE PRICE OF GOLD gave back an earlier rise in London trade on Thursday morning, still recording its third-highest ever Gold Fix – and the fourth Fix this week above $1400 an ounce – as Asian stock markets closed marginally higher but European share markets stalled. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 November, 2010
Gold fell all the way to $1383.05 in afterhours access trade yesterday before it rebounded in Asia to as high as $1410.10 around 4AM EST and then fell all the way back to $1383.65 in late morning New York trade, but it then rallied back higher in the last couple of hours of trade and ended with a loss of just 0.7%. Silver dropped to $26.435 in afterhours access trade yesterday before it climbed back to $28.185 in Asia, but it then fell back off for most of the rest of trade and ended with a loss of 5.9%. Full Story
Caution has marked trading in most markets today at the start of the G20 summit in Seoul. Gold is marginally lower in dollar terms but is higher in euro terms due to sovereign debt issues in Ireland and other periphery eurozone states. Gold is also higher in yen which was have fallen sharply today prior to the G20 summit. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 November, 2010
It will take a while for traders to be weaned off the $: € exchange rate relationship to gold. We have seen gold in the euro rise to new heights and breaking this relationship again, but New York keeps coming back to it. As the dollar strengthened to $1.377 gold dipped below $1,400, but then recovered in London trade to rise to $1,408.00 even as the dollar got stronger. Full Story
THE PRICE OF GOLD AND SILVER recovered early in London on Wednesday following sharp overnight falls sparked by a 30% hike in the margin down-payments required for leveraged traders in US silver futures contracts. Full Story
Are we now entering the hyperinflationary stage? It is estimated that in 2011 alone, the TOP 15 developed countries (US, Japan, UK, Spain, Greece, etc) will need to raise some $10,200,000,000,000 ($10.2 trillion!) to finance their growing debts. That is 27% of their combined economic output. Not 2.7% but 27%! The consequences will be felt through further monetary devaluations. In essence a big part of the overhanging debt burden is being paid off through an inflation tax for paper currency holders. How much longer will $ or € holders go without having real monetary insurance and protection against this inflation?
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By: Chris Mullen, Gold-Seeker.com - 9 November, 2010
Gold chopped its way higher throughout most of world trade and rose to as high as $1424.20 a little after noon EST before it fell back off in the last half hour of trade, but it still ended with a gain of 0.48% at a new all-time high. Silver climbed to as high as $29.34 before it also fell back off a bit in the last half hour of trade, but it still ended with a gain of 4.53% at a new 30-year high. Both metals are falling rather markedly in after hours access trade. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 November, 2010
While the dollar got stronger, gold got stronger. The $: € exchange rate is failing to show the state of the gold market but this time it seems that traders are being forced to recognize this. They are seeing gold rise in all currencies. Full Story
THE PRICE OF PHYSICAL GOLD continued to surge in London on Tuesday, taking out fresh all-time highs for US, Canadian and UK investors as European stock markets reversed yesterday's drop and the Euro rallied from a 1-week low on the currency market. Full Story
Gold closed above $1400/oz yesterday and has risen again today in most currencies and reached new record nominal highs in sterling (877.30/oz) and is targeting record nominal highs in euros . Competitive currency devaluations and currency debasement is seeing all fiat currencies fall in value against gold. Full Story
Nothing Official about it. This is happening. Why are global central bankers increasing their gold holdings. They are not fools. Central banks portray a long term view of global economy and their increasing of gold reserves since 2007 is a reflection of the total breakdown in currency markets. Gold should rise to a minimum of $1700 by March 2011. We do not foresee gold falling below $1230 by March 2011 with every possibility of $1700 and $1900 by March 2011. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 November, 2010
Gold rose to a new all-time high of $1398.45 in early Australian trade before it fell back to $1386.73 at around 4AM EST, but it then shot back higher in late New York trade and ended near its early afternoon high of $1407.15 with a gain of 0.44%. Silver fell to as low as $26.505 before it also surged back higher in late trade and ended near its new 30-year high of $27.632 with a gain of 2.47%. Both metals have also risen to new highs in after hours access trade. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 November, 2010
It’s a new week and a new perspective for gold investors. Last week many started to think gold might have peaked and saw with trepidation gold struggle to get through the $1,360 barrier. When it plummeted, albeit on thin trade, just ahead of the Fed announcement some thought gold had had its day. Then, after the expected news from the Fed, gold did what it should do and started to rise, initially in line with the fall of the dollar. Full Story
THE PRICE OF PHYSICAL gold bullion touched a new Dollar-record on Monday – just $1.25 shy of $1400 per ounce at the start of Asian trade – before easing back as global stock markets slipped and the US currency rose on the forex market. Full Story
This morning, gold hit a new record nominal high in dollar terms at $1,398 an ounce and gold in euro terms surged to reach €1,000. A subsequent bounce in the dollar and profit taking saw gold fall from the record nominal high in dollar terms but it remains near €1,000/oz. There is increasing concern about Ireland and other periphery EU nations' worsening fiscal and economic situations and possible ramifications for the European Monetary Union and the euro. Full Story
We’re just nudging up against the $1400 mark, can $1600 be far away? That still seems to be the most talked about target although $2600 is not all that impossible. Let’s see where we are at the present time, technically speaking. Full Story
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