By: Chris Mullen, Gold-Seeker.com - 14 January, 2011
Gold steadily fell throughout most of world trade and ended near its late morning New York low of $1354.90 with a loss of 1.9%. Silver followed a similar pattern and ended near its noontime low of $28.097 with a loss of 3.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 January, 2011
As relief courses through the Eurozone government bond markets at the success of Portugal’s, Spain’s and Italy’s government bond auction, the sharp edge of the crisis appears to go away, for now at least. This saw gold in euros, at the Fix drop to €1,023. Its peak was €1,065. In the dollar its Fix of $1,369 did not seem as sharp as the euro rose to $1.3364 in London. Full Story
THE PRICE OF GOLD continued to slip for Dollar investors in London dealing on Friday, trading unchanged from last week's finish as world stock markets also fell. Full Story
Gold and silver have fallen in most currencies today but are higher in the “commodity currencies” of Canadian, Australian and New Zealand dollars, and flat in Swiss francs. Gold and silver are both slightly higher for the week in US dollar terms but weaker in terms of other currencies. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 January, 2011
Gold fell $8.35 to $1377.80 in Asia and London before it spiked up to see a $6.74 gain at $1392.89 in early New York trade and then dropped back down to see a loss of $7.20 at $1378.95 by a little before 11AM EST, but it then rallied back higher into the close and ended with a gain of 0.06%. Silver dropped to $29.122 and jumped up to $29.765 before it fell back off for most of the rest of trade and ended with a loss of 0.81%. Both metals have fallen to new lows in afterhours access trade at the time of writing. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 January, 2011
Gold in Asia and in London is holding overnight levels of around $1,385. The lack of movement indicates that buyers and sellers are moving into balance. The euro strengthened in the face of a successful Portuguese government debt auction to $1.3156. Today sees Spain coming to the market and Italy tomorrow. We believe that all three auctions will meet with success, albeit at higher interest rates than in the past. With China and Japan as well as the E.C.B. supportive of these auctions, we have seen a good public relations exercise that calmed the markets, but leaves the underlying problem unresolved. Full Story
THE PRICE OF GOLD reversed an early 0.8% dip to trade above $1387 per ounce on Thursday in London, as the Dollar slipped following a surprise jump in new US jobless claims. Full Story
Gold and silver have fallen by less than 1% in all major currencies today. Asian equities were mixed with strong selling seen in India and European equities and US index futures are tentatively higher. Eurozone periphery bonds yields have fallen as have those in Germany (10 year) after rising above 3% in recent days. Full Story
Weakness in the US dollar along with lack of news for a sell off in commodities has resulted in all of them rising. There is scope for further gains as long as the US dollar trades with a softer bias. The European sovereign debt crisis in the headlines will result in continued demand of gold and other safe havens at lower prices. Technically all commodities are bullish and have room for further gains. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 January, 2011
Gold saw a $2.45 gain at $1386.95 in Asia before it chopped its way back lower in London and early New York trade to as low as $1376.63 by a little after 10AM EST, but it then rallied back higher in the last few hours of trade and ended near its earlier high with a gain of 0.12%. Silver climbed $0.27 to $29.81 and fell to $29.372 before it also rallied back higher and ended with a gain of 0.03%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 January, 2011
Gold was stronger than expected in New York yesterday and rose through the night in Asia back to the mid-$1,385 by the time London opened. In London it drifted back to $1,383 before being Fixed at $1,383.50 and €1,061.29. Full Story
THE PRICE OF GOLD touched fresh 1-week highs in late Asian trade on Wednesday, slipping back as European stock markets rose and Portugal's new issue of 10-year debt found what bond dealers called "strong demand". Full Story
Gold is marginally higher in US dollars while silver has risen by nearly 1% in all major currencies this morning. Risk appetite remains highs as seen in higher Asian and European bourses today. The US, Hong Kong and New Zealand dollar are weaker as are Australian and German government bonds (which rose 6 basis points and 4 basis points to 5.51% and 2.96% respectively). Full Story
By: Chris Mullen, Gold-Seeker.com - 11 January, 2011
Gold climbed steadily higher in Asia and London and saw a gain of $12.15 at $1386.55 in early New York trade before it fell rather markedly to see a $1.10 loss at $1373.30 by about 10AM EST, but it then rallied back higher in the last three and a half hours of trade and ended near its earlier high with a gain of 0.73%. Silver rose $0.72 to $29.66 before it also pared its gains a bit in early New York trade, but it still ended with a gain of 2.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 January, 2011
The premium on gold bars is now at a 2-year high. Gold has continued to rise after the recovery before the close in New York and was Fixed at $1,381.00 €1,067.65 and stands at $1,383 before New York’s opening. Physical demand for gold will be the theme for 2011 we believe as the darkening financial and monetary clouds darken, even in the face of greater growth worldwide. The euro has fallen through the $1.30 level and is staggering to lower levels. With both the dollar and the euro falling, we may be entering a period where the euro’s fall will accelerate ahead of that of the U.S. dollar. Full Story
THE PRICE OF GOLD rose further against all major currencies in London trade on Tuesday morning, reversing two-fifths of last week's $68 drop to hit $1385 per ounce for US investors. Global stock markets also rose, adding more than 1% to London shares, as energy and agricultural commodities extended their rally. Full Story
Gold remains well supported in all major currencies this morning, especially the euro, pound, yen and the New Zealand and Australian dollar. Concerns about inflation, credit bubbles and the growing likelihood that the Eurozone debt crisis will deepen is leading to continuing safe haven demand for gold – particularly in India, China and wider Asia. Gold is currently trading at $1,382.05/oz, €1,067.63/oz and £887.37/oz. Full Story
It’s more or less a technical trade and nothing else for the moment with the US dollar dictating commodities. The focus of traders once again has shifted to eurozone debt fears and contagion risk. If eurozone fears rise then gold and other safe havens will rise. That’s all I can say. It’s better to look at the markets from a three month perspective and based on that trade intra day. This way chances to intra day losses will be reduced. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 January, 2011
Gold rose $7.25 to as high as $1376.05 in Asia before it fell to see a $3.20 loss at as low as $1365.60 in midmorning New York trade, but it then rallied back higher into the close and ended with a gain of 0.41%. Silver erased most of its overnight gains and fell to as low as $28.62 by about 8AM EST, but it then rallied back higher in New York and ended near its late morning high of $29.10 with a gain of 1.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 January, 2011
We have heard from Brazil’s Finance Minister that the world is headed for a “Trade War”. Is this really likely? Yes, it is possible! What are the weapons of a ‘Trade War?’ What does this mean for us all and for precious metals? It will mean different things for different countries. Countries that have a surplus Trade Balance and higher interest rate levels will feel upward pressures on their exchange rates such as Brazil, which has seen its $30 billion trade surplus fall to a $6 billion trade deficit, because of its rapidly rising exchange rate. Full Story
GOLD PRICED IN EUROS whipped within 1.5% of last month's all-time record highs in London dealing on Monday, as weaker-economy Eurozone bonds fell sharply on a raft of bail-out rumors. Both silver and gold prices meantime reversed an earlier rally against the Dollar, while stock markets fell together with broad commodity prices. Full Story
Skepticism and the assumption that gold is a bubble, is “overvalued” and “risky” continues and remains prevalent in much of the mainstream press (see News below). The smart money is as ever more informed and knows the actual fundamentals of the market which is one of anaemic supply (declining mine production, central banks becoming buyers rather than sellers and significant demand for gold internationally – both investment demand and jewellery demand from China, India and wider Asia). Full Story
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