Gold continues to garner support from physical demand on dips toward the low end of the recent range. However, dollar strength stemming from expectations of tighter monetary policy in the US is seen as a limiting factor on the upside. Full Story
SPOT GOLD PRICES rallied into the US opening on Friday, bouncing from their second dip below $860 per ounce on news that US consumer-price inflation rose to 4.2% in May. Full Story
More of the same in the gold market today with gold taking its lead from oil which is down (1%) and the dollar which is up this morning (0.8% against the euro and 0.15% against sterling). Further jawboning and verbal support for the dollar will be expressed at the G7 meeting at the weekend and this could put gold under pressure (today). Full Story
The US dollar is at an infection point and is nearing the key medium term supports. Euro/Usd it is 1.5360, gbp/usd it is 1.9320, usd/jpy 108.70. The same is with all the metals. Full Story
Gold and silver fell throughout most of trade in Asia and London and dropped to as low as $857.05 and $16.22 by a little before 9AM EST in New York, but both metals then rallied back higher into the close and ended well of those lows with losses of just 1.23% and 2.23%. Full Story
Gold has pushed toward the low end of the recent range, weighed by a firmer dollar and slightly easier oil prices. The dollar has been underpinned of late as a result of growing expectations of an impending rate hike by the Fed. This morning's much better than expected retail sales number served to heighten those expectations. Full Story
SPOT GOLD PRICES slid yet again overnight on Thursday, giving back all of yesterday's 1.9% rally to reach fresh one-month lows below $862 per ounce as Western stock markets rallied, led by beaten-down banking shares. Full Story
Gold is again taking its cue from oil which is down and the dollar which is up this morning. This trend may continue until we get a breakout out of the recent range bound trade between $850 and $950. The breakout is again likely to be to the upside. The 200 day moving average at $856 is support and gold is an excellent buying opportunity at these levels. Full Story
The smoothening words on the US dollar have to be backed by growth oriented US economic numbers. If this does not happen, punters will sell off the US dollar. Till the Fed meeting volatility in the US dollar will be high. If US retail sales disappoint, the US dollar will weaken till the Fed meeting. Full Story
Gold steadily rose throughout most of world trade and ended near its high of $882.90 with a gain of 1.41%. Silver fell slightly to $16.50 by late trade in Asia, but it then stabilized in London, climbed nicely in morning New York trade, and ended near its high of $16.90 with a gain of 1.63%. Full Story
Gold has rebounded, having found support ahead of the 861.10/860.10 level. Gold softened earlier in the week after a round of jawboning by the President and a number of top officials bolstered the dollar. Full Story
SPOT GOLD PRICES ticked higher in London trade early Wednesday, recovering 1.3% from yesterday's one-week low as crude oil jumped back to $133 per barrel. Full Story
Gold closed at $867.80 in New York and was down $27; silver closed at $16.57 down 58 cents. Gold has risen in Asia overnight and in early European trading this morning is up some 0.5%. Further consolidation between $850 and $950 is needed and the 200 day moving average at $855 is likely to provide good support (especially with oil up 2% today). Full Story
Crude oil and the US dollar will dictate gold, silver and metals prices. Technically they are in a neutral zone. It remains to be seen how long the US dollar continues to gain. US weekly crude oil inventories will be the key. Full Story
Gold steadily fell throughout most of world trade and ended about 0.5% off its low of $863.95 with a loss of 2.99%. Silver dropped under $17.00 by late trade in Asia before it rose to within a penny of unchanged at $17.18 by early trade in New York, but it then fell back off for most of the rest of trade and ended about 0.5% off its low of $16.48 with a loss of 3.61%. Full Story
Gold was unable to sustain the recent foray back above $900 after a series of comments from high level US officials, including the President himself, prompted a rebound in the greenback. Full Story
Contrary to some misguided commentary - rising interest rates are positive for gold as was seen in the 1970s under the prudent monetary stewardship of Paul Volcker, the ex Federal Reserve Chairman. As interest rates went up so did the gold price and it was only at the end of the interest rate tightening cycle with rates nearly at 20% that inflation was contained and investors began to sell gold and return to the safety of very high yielding U.S. government bonds. Full Story
THE PRICE OF PHYSICAL BULLION slid further in Asia and London on Tuesday, losing half of the Gold Market's bounce from last Thursday's three-week low after Ben Bernanke – chairman of the US Federal Reserve – repeated his claim of wanting to fight inflation. Full Story
The US dollar made a complete U turn after the Fed chairman once again expressed his concerns of a weaker US dollar causing inflation. US Treasury Secretary Paulson confirmed that the US government is not ruling out any policy tool including intervention. Full Story
Gold rose to $909 by late trade in Asia before it fell throughout most of trade in London and New York and dropped to as low as $890.60 with about 15 minutes left in the session, but it then rallied back higher in the final minutes and ended with a loss of just 0.10%. Silver rose to $17.63 and fell to $17.10 before it closed with a loss of 1.32%. Full Story
Gold has pushed back above the $900 level, buoyed by the largest one-day price surge in oil ever recorded heightened inflation concerns. The largest uptick in the unemployment rate in 22-years also raised serious concerns about the overall health of the US economy. Full Story
Gold closed at $895.50 in New York Friday and was up $23.30; silver closed at $17.37 and was up 30 cents. In the New York Globex market gold subsequently rallied to $902.20 late Friday. Both traded sideways in Asia this morning prior to rallying higher in early European trading. Full Story
SPOT GOLD PRICES rose sharply at the London opening on Monday, starting the week $20 per ounce above last Monday's start as crude oil dipped from its new all-time highs. Full Story
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