Monthly Archives: June 2010

30
Jun
2010

Gold Consolidates Near Record Highs Up 12% in Quarter; Silver Up 6%

Gold

Risk aversion led to falls in equity and commodity markets yesterday but gold again managed to eke out a 0.5% gain. The complacency of recent months is being challenged by a raft of negative data and by increasingly precarious fundamentals. Concerns about Chinese and global economic growth and about the European banking system and sovereign debt are leading to continuing diversification into gold.

Continue Reading
29
Jun
2010

Short Squeeze in Coffee and Sugar Could Soon be Seen in Gold and Silver Market

Gold

Continue Reading
23
Jun
2010

Gold Robust as Equities Fall – Concerns on US Recovery and Sovereign Default Risk

Gold

Gold’s slight gains and resilience yesterday has surprised the bears who were expecting further falls. The downside reversal pattern seen on Monday may not have incurred as much technical damage as thought – especially if gold can manage to eke out a higher weekly close this week – above $1255/oz.

Continue Reading
22
Jun
2010

Gold at New Record Nominal Highs on Continued Skepticism

Gold

Gold rose to a new all-time intraday high of $1265.07/oz in early European trading and then gave up its earlier gains in London yesterday. Gold came under concerted selling pressure in New York and fell in the final hours of trade ending near its late session low of $1237.83/oz with a loss of 1.40%. It has range traded in Asian and early European trading today.

Continue Reading
21
Jun
2010

Central Banks Diversifying into Gold – Bolstering Meager Gold Holdings

Gold

Continue Reading
17
Jun
2010

Gold Flat as Coffee Surges 20% in 6 Days and Oats Surge 40% in Week

Gold

Continue Reading
16
Jun
2010

Gold Consolidates in All Currencies While Silver Breaks Out

Gold

Gold added 1.1 percent yesterday, the most in a week and is up marginally today and trading within 1.3 percent of its record nominal high of last week. Gold appears to be consolidating above $1,200/oz and a this may be the pause that refreshes prior to new record highs. Gold has also risen in other currencies and is back above €1,000/oz as concerns about sovereign debt issues and economic growth in the eurozone continue.

Continue Reading
15
Jun
2010

Gold in Tight Range as Silver Outperforms

Gold

Gold fell $5.40 in US trading yesterday to close at $1,222.70/oz and fell to €999.00/oz as the euro strengthened against the dollar. Gold has traded in a very tight range between $1,220/oz and $1,225/oz in Asian and early European trading. Silver rose yesterday and has is outperforming gold again today.

Gold is currently trading at $1,222/oz and in euro, GBP, CHF, and JPY terms, trading at €997/oz, £827/oz, CHF 1,394/oz, JPY 111,635/oz respectively.

Continue Reading
14
Jun
2010

An All-Time High Weekly Close Sets Gold Up for New Record Highs

Gold

Gold rallied on the open in Asia and has maintained those gains in early trading in Europe as the dollar has. Last week’s all time higher weekly close was important technically and means that gold’s technicals remain strong after its recent weekly and monthly (May) higher closes. Indeed, momentum traders and those making "the trend their friend" could push gold to new (nominal) highs in the coming days.

Continue Reading
11
Jun
2010

Risk Trade Back on Despite Sovereign Debt and Banking System Stress

Gold

Continue Reading