Monthly Archives: February 2011

28
Feb
2011

February Sees Gold up 6% and Silver up 19% on Inflation and Escalating Geopolitical Risk

The paper-driven sell off in the gold market seen in January has been trumped by continuing robust physical demand in January and February. This has resulted in gold rising nearly 6% in February and silver’s strong industrial and investment demand leading to a 19% rise to new nominal 30-year highs.

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25
Feb
2011

GoldCore Precious Metals Update, 25 February 2011

Gold and Silver

Gold and silver are trading lower this morning at $1,401/oz and at $32.65/oz respectively. On the currencies, gold trades at £870/oz and €1,013/oz respectively. Silver trades at £20.31/oz and €23.66/oz.

Market volatility driven by rumour and counter rumor over Gaddadfi’s demise saw gold and silver fall and then reverse losses.

Platinum Group Metals

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24
Feb
2011

GoldCore Precious Metals Update, 24 February 2011

Gold and Silver

Gold is trading higher this morning at $1,414/oz and silver is holding steady at $33.31/oz. On the currencies, gold trades at £874/oz and €1,026/oz respectively. Silver trades at £20.61/oz and €24.18/oz.

Platinum Group Metals

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23
Feb
2011

GoldCore Precious Metals Update, 23 February 2011

Gold and Silver

The precious metals market remains steady with gold trading at $1,407/oz and Silver holding steady at $33.39/oz. On the currencies, Gold is trading at at £861/oz and €1,021.14/oz respectively, and silver is trading at £20.26 and €24.03.

Platinum Group Metals

Both platinum, trading at $1,795/oz, and palladium trading at $808/oz are lower from the start of the week, while rhodium remains steady at $2,400 per ounce.  

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21
Feb
2011

GoldCore Precious Metals Update, 21 February 2011

Gold and Silver

Today is a US holiday and gold is trading at $1,398/oz this morning but silver is the real mover with a 3.25% increase since Friday’s close, currently trading at $33.41/oz. On the currencies, gold trades up across all the majors showing £861.67/oz and €1,022/oz respectively; silver trades at £20.58/oz and €24.41/oz.

Platinum Group Metals

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18
Feb
2011

GoldCore Precious Metals Update, 18 February 2011

Gold and Silver

Gold continues to strengthen and currently trades at $1,385/oz with silver tracking movements around the $31.73/oz level. On the currencies, gold trades at £854.29/oz and €1,021.43/oz (from the London AM Fix of $1,377.00/oz, £853.32/oz and €1,014.74/oz yesterday), and silver trades at £19.37/oz and €23.01/oz (from the London fixing yesterday of £18.99/oz and €22.59/oz respectively).

Platinum Group Metals

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17
Feb
2011

Surging Gold Demand a “Global Phenomenon” – Chinese Demand for Silver “Voracious”

Israeli comments led to dollar weakness and gold, silver and oil rallying yesterday. The Israeli government described the Iranian warships move into the Suez canal as a “provocation” and hinted at a possible response.

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16
Feb
2011

European Sovereign Debt Crisis Deepening – Risk of Contagion and Bond Market Crash

 There is a real sense of the “calm before the storm” in markets globally. Complacency reigns, despite signs that the sovereign debt crisis in Europe is deepening and that Japanese and US bond markets also look very vulnerable due to rising inflation, very large deficits and massive public debt. 

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15
Feb
2011

Precious Metals Rise Immediately on Higher than Expected UK Inflation

  Silver and particularly gold rose sharply on the release of the higher than expected UK inflation data. It showed that UK inflation quickened to 26 month highs at 4.0%. Currency debasement and higher food and energy prices are leading to an inflation surge in both developed and emerging markets.

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14
Feb
2011

Silver Bullion COMEX Stocks at 4-Year Low as Backwardation Deepens

Gold and silver are higher after last week’s 1% and 3.5% gains in dollars. Silver is particularly strong again this morning and the euro has come under pressure as bonds in Ireland, Spain, Portugal and Greece continue to rise. While Asian equity markets were higher, European indices have given up early gains.

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