Monthly Archives: February 2010

05
Feb
2010

GoldCore Update: Turmoil on Sovereign Contagion and Economic Growth Risk

Gold
Gold fell sharply yesterday and is trading at $1,052/oz. In Euro and GBP terms, gold is trading at €770/oz and £673/oz. Support for gold is currently seen at $1,025/oz to $1,030/oz and resistance at $1,115/oz.

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04
Feb
2010

GoldCore Update: Concerns About Dislocation in Sovereign Debt Markets and Eurozone Contagion

Gold
Gold fell 0.5% yesterday and is trading at $1,102/oz. In euro and GBP terms gold is trading at €797/oz and £696/oz. Support for gold is currently seen at $1,076/oz and resistance at $1,115/oz.

Risk aversion is making a comeback in markets internationally which has seen equity markets in Asia and in Europe this morning come under pressure after yesterday’s falls on Wall Street. Gold has fallen slightly this morning on continuing strength in the dollar and weaker oil (on falling US demand).

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03
Feb
2010

GoldCore Update: Gold in Euros above €800/oz on Concerns for Euro

Gold
Gold (and silver) rose some 1% yesterday prior to range trading in the US yesterday from – $1,110/oz to $1,115/oz. It has moved upwards Asian trading so far this morning jumping from $1,113/oz to $1,124/oz. Gold is currently trading at $1,121.00/oz and in Euro and GBP terms, gold is trading at €802/oz and £700/oz respectively. The continuing problems in the Eurozone are seeing the gold rise in Euro terms and a weekly close above €800/oz will be very positive technically.

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02
Feb
2010

GoldCore Update: Gold’s Long Term Inverse Correlation to Equities Asserting Itself

Gold
Gold had a strong run in US trading yesterday closing above the psychological $1,100/oz at $1,103.60/oz. It  moved sideways in Asian trading so far this morning prior to rising to $1,114/oz at the London AM Fix. Gold is currently trading at $1,114.50/oz and in euro and GBP terms, gold is trading at €794/oz and £694/oz respectively.

gold dija relative ratio

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01
Feb
2010

GoldCore Update: Dollar Rally Confronted by Massive US Budget Deficit

Gold
Gold fell slightly on Friday to result in slight fall for the week and a slight fall for the month of January – gold was down 1.1% in January. Gold started the first week of February at $1,081/oz and rose to $1,084/oz in Asian trading. Gold is currently trading at $1,081.60/oz and in euro and GBP terms, gold is trading at €780/oz and £681/oz respectively.

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