Category: Market Updates

06
Sep
2011

Swiss Franc Collapses 7% Against the USD, EUR and Gold – Swiss National Bank to Fix CHF to EUR and Debase Currency

Currency markets have seen massive volatility this morning after the Swiss National Bank decision to fix the Swiss franc to the euro.

Gold is trading at USD 1,899.50, EUR 1,339.10, GBP 1,177.30, CHF 1,611.10 (up from CHF 1,486.50 yesterday) and JPY 146,350 per ounce. Gold is down 0.18% in dollar terms and strong physical demand continues at these levels.

Just prior to the announcement, spot gold for immediate delivery had risen to a new record nominal high of $1,921.15/oz in early morning trading in Europe.

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05
Sep
2011

Gold Reaches $1,900 Again – Supported by Risk of U.S. Recession, German Euro Risk and Wikileaks China Gold Cables

Spot for immediate delivery rose to $1,903.00/oz as the dollar and all currencies fell against gold in early European trading. Risk aversion has returned due to concerns about the US and global economy and Eurozone contagion.

Gold is trading at USD 1,890.50, EUR 1,339.10, GBP 1,171.30, CHF 1,486.50 and JPY 145,350 per ounce.

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02
Sep
2011

ECB Doesn’t Rule Out “PIIGS” Gold as Collateral for Gold Backed Eurobonds

Gold and the Swiss franc are higher today as risk aversion has returned with global stock markets falling on concerns the US employment figure later today will disappoint and confirm that the US economy continues to weaken.

Gold is trading at USD 1,853.50, EUR 1,300.10, GBP 1,143.30, CHF 1,446.50 and JPY 142,320 per ounce.

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01
Sep
2011

August Review: Gold Rises 12% as Equities Fall, Commodities Mixed and German and US Bonds Higher

Review of Precious Metals, Equities, Commodities, Bonds and Currencies
August was a very turbulent month for markets with equities falling sharply and commodities mixed on Eurozone and United States sovereign debt concerns and concerns about the health of the U.S. and global economy. 

For many markets, Augusts’ savage sell-off has been the worst since the October following Lehman Brothers’ implosion and investors diversified into havens such as high credit government bonds and gold. 

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31
Aug
2011

Silver Ready to Breakout – Technicals and Fundamentals Suggest $50/oz in Early Autumn

Gold and silver have fallen after yesterday’s gains due to the very poor consumer confidence data and Federal Reserve murmurings of further monetary easing. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce. While silver is trading at USD 41.21, EUR 28.53 , GBP 25.31, CHF 33.33 and JPY 3,155 per ounce. 

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30
Aug
2011

Gold at $1,950 Within the Month Reaffirm UBS; JP Morgan $2,500 Year End Call Remains

Gold is higher against most currencies and especially the euro. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce.

Gold’s London AM fix this morning was USD 1,791.00, EUR 1,243.49, GBP 1,097.56 per ounce. Gold fixed marginally higher than last Friday’s AM Fix which was at USD 1,787.00, EUR 1237.10, GBP 1,094.17 per ounce which suggests physical demand is supportive at the $1,800 level.

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29
Aug
2011

Gold Fell 2.96% Last Week – Further Falls Possible but Downside Limited

Gold has fallen in U.S. dollars and in most currencies but is higher in Swiss francs due to concerns of fees on Swiss franc deposits. Asian (except for China’s CSI300) and European equities are higher as investors judge the recent sell off as excessive. Risk appetite has risen on hopes that the U.S. and global slowdown will not be sharp.  

Gold is trading at USD 1,818.80, EUR 1,254.10, GBP 1,110.90, CHF 1,482.50 and JPY 139,340 per ounce.

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26
Aug
2011

Western Speculators Sell Gold; Asia and West Buy Bullion – Coin and Bar Supply Increasingly Tight

Gold is higher in most currencies but especially in dollars and Swiss francs. The dollar and European equities are lower due to nervousness prior to Bernanke’s speech at Jackson Hole. Expectations are waning that Federal Reserve Chairman Bernanke will indicate further quantitative easing measures to prop up the ailing U.S. economy – at least in the short term.

Gold is trading at USD 1,790.80, EUR 1,241.10, GBP 1,098.90, CHF 1,422.50 and JPY 137,779 per ounce.

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25
Aug
2011

Gold Down Further 2% – Chorus of ‘Gold Bubble’ Callers Such as Roubini Out in Force Again

All major currencies have risen against gold again today as the vicious sell off seen on Tuesday and particularly yesterday continued in Asia overnight and in Europe. 

Gold is trading at USD 1,723.80, EUR 1,192.10, GBP 1,052.90, CHF 1,369.50 and JPY 133,225 per ounce.

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24
Aug
2011

Germany May Want PIIGS Gold as Security for ‘Bailouts’ – Merkel’s Officials in Damage Limitation Mode

All major currencies are lower against gold today with the Japanese downgrade and concerns about global growth taking their toll on Asian stock markets. While European indices have eked out gains, some selling of peripheral European debt has been seen again and yields on German bunds have risen.


Cross Currency Table

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