Monthly Archives: June 2010

10
Jun
2010

Bernanke’s Claims That He Does Not “Fully Understand the Movement in the Gold Price”

Gold

Gold is currently trading at $1,223/oz and in euro, GBP, CHF, and JPY terms, at €1,017/oz, £840/oz, CHF 1,402/oz, JPY 111,318/oz respectively.

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09
Jun
2010

Gold Consolidates Near Record Nominal Highs in Nearly All Currencies

Gold

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08
Jun
2010

Gold Reaches New Record Nominal Highs in USD, EUR, CHF and GBP

Gold

Gold has risen to new record nominal highs as concerns that the European debt crisis could lead to contagion increases. Gold rose to $1,251.85/oz in London and futures reached $1,254.50/oz in New York as risk aversion rose. Bullion advanced to all-time highs in dollars, euros, sterling and Swiss francs as the euro and equity markets again came under pressure.

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04
Jun
2010

Gold Marginally Lower as Equities Fall Sharply on Disappointing US Job Numbers

Gold

The US jobs number came in at 431,000, which was worse than the expected 500k, and saw safe haven buying bid the dollar, yen and gold prices higher. The jobs number raised concerns about the sustainability of the recovery especially as the employment numbers received an artificial boost from the hiring of thousands of temporary census workers.

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03
Jun
2010

Increased Risk Appetite Sees Equities Rise and Yen and Gold Fall

Gold

Gold is currently trading at $1,218/oz and in euro, GBP, CHF, and JPY terms, at €994/oz, £831/oz, CHF 1,405/oz, JPY 112,630/oz respectively. Gold fell slightly in US trading yesterday on renewed risk appetite prior to sideways trading in Asia and then falling mid morning in Europe from $1,223/oz to $1,215/oz.

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02
Jun
2010

Gold Rises in Yen on Japanese PM Resignation; Premiums for Physical Bullion Rising Again

Gold

Gold rose again yesterday on safe haven demand due to falling stock markets after growing concerns about the impact of the oil spill in the Gulf of Mexico and continuing concerns about contagion in the eurozone. Gold initially rose in Asia before giving up those gains and falling as low as $1218/oz in early European trading.

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01
Jun
2010

Gold Rises for Seventh Day in USD; New Record in Euro over EUR 1,009/oz

Gold

Gold is the strongest currency in the world today and has risen to $1,220/oz and over €1,000/oz with a variety of macroeconomic and geopolitical headwinds supporting the yellow metal. These include geopolitical risks in the Koreas and in the Middle East,  the macroeconomic risks posed by the continuing sovereign debt crisis, concerns about the euro and growing concerns about a double dip recession.

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