Monthly Archives: March 2010

31
Mar
2010

Gold Set For Sixth Consecutive Quarterly Advance on Physical Demand?

Gold
Gold fell to $1,101/oz in New York before recovering to close with a loss of 0.53%. It has since risen from $1,105/oz to $1,110/oz in Asian trading this morning. Gold is currently trading at $1,109/oz and in euro and GBP terms, gold is trading at €825/oz and £732/oz respectively. Gold looks set for a lower close for the month of March (some 1%) but a higher close for the quarter (see chart).

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29
Mar
2010

Gold Rises as Chinese Investment Demand to Double in “Exponential Growth”

Gold
Gold closed at $1104.45/oz Friday night with a gain of 1.09% on the day in dollar terms, but a loss of 0.27% on the week. Prices were volatile this morning in Asian trading as gold surged in price to $1,114.60/oz prior to falling to $1,103/oz. Gold then gradually recovered in Asian trade and European trade as the dollar weakened. Gold is currently trading at $1,112.00/oz and €824.18/oz & £741.28/oz in EUR and GBP terms respectively.

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26
Mar
2010

Gold Rises after Option Expiry but May Close Lower on Week

Gold
Gold in dollars closed last night at $1092.50/oz with a gain of 0.31% on the day. Gold continued its recovery in Asian trading this morning and is currently trading at $1,097.60/oz in dollars and €820.02/oz & £11.32/oz in EUR and GBP terms respectively.

Equity markets in Asia welcomed the latest Greek deal but European indices are more tentative this morning. The euro has recovered from its recent 10 month lows against the dollar (had risen above 1.3400 by 1130 GMT) but remains under pressure versus some other currencies and gold.

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25
Mar
2010

Risk of Contagion Bolsters Gold’s Status as Currency Hedge

Gold
Gold closed at $1089.10/oz last night, having lost 1.36% on the day in dollar terms. Gold recovered in Asian and early European trading this morning and at the moment is trading at $1,093.40/oz. In EUR and GBP terms, gold is trading at €819.21/oz and £730.74/oz respectively . Gold rose in euro terms due to the risk of contagion in the eurozone and remains near record (nominal) highs of €833.54/oz reached on the March 4th (see chart).

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24
Mar
2010

GoldCore Update: Euro Gold Up 0.45% as Euro Falls on Concerns over Greece and Portugal

Gold
Gold closed at $1104.15/oz in New York, gaining 0.4% on the day; it also advanced in Asian trading this morning. Gold has fallen in USD terms and is currently trading at $1,094.62/oz and remains firm in EUR and GBP terms at €820.06/oz & £730.87/oz respectively.

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23
Mar
2010

GoldCore Update: Gold Recovers From Early Losses as Greek Drama Continues

Gold
Gold closed at $1099.70/oz yesterday having lost 0.7%; it then recovered in Asian trading. Gold is currently trading at $1,102.80/oz, and in EUR and GBP terms €814.22/oz & £731.42/oz respectively.

Gold has recovered somewhat from the weakness in Asian and early European trading and this may be due to the dollar giving up its earlier gains.

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22
Mar
2010

GoldCore Update: Obama’s Health Care Bill to Contribute to Surging US Budget Deficits

Gold
Gold sold off aggressively on Friday, closing at $1107.40/oz in New York, showing a loss of 1.8% on the day. However, it was still up 0.54% on the week which is important from a technical perspective. Gold traded nearly flat this morning in Asian trading and is currently trading at $1,104.70/oz and €816.48/oz & £736.37/oz in euro and GBP terms respectively.

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19
Mar
2010

Sterling Gold Near Record Highs as Election Looms and Economic Outlook Uncertain

Gold
Gold went from as low as $1,119/oz up to $1,128/oz in US trading before closing with a gain of 0.32%. It has range traded from $1,120/oz to $1,125/oz in Asian and European trading this morning. Gold is currently trading at $1,123/oz and in Euro and GBP terms, at €827/oz and £741/oz respectively.

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19
Mar
2010

GoldCore Update: Gold Volatile on Weaker Euro and Renewed Greek Concerns

Gold
Gold finished trading last night in the US at $1,124.05/oz with a small gain of 0.11%. Gold rose in Asian trading and has been erratic and volatile in European and US trading and is currently trading at $1,127.80/oz in US dollars. In euro and GBP terms, it is trading up 1% at €827.60/oz and up 0.5% to £739.18/oz, respectively.

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16
Mar
2010

Federal Reserve Rising Interest Rates Positive for Gold?

Gold
Gold dipped to $1,101.15/oz in early US trading before recovering to close with a gain of 0.37% despite continuing dollar strength. It rose in Asian trading and has range traded from $1,109/oz to $1,113.50/oz so far in European trading this morning. Gold is currently trading at $1,114.00/oz and in euro and GBP terms, gold is trading at €813/oz and £739/oz respectively.

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