Category: Market Updates

11
Mar
2011

Japan Megaquake and Tsunami – Gold Mixed as Yen Surges against All Currencies

The massive earthquake and tsunami that has rocked Japan is being digested by markets and the economic ramifications and uncertainty is leading to risk aversion.

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10
Mar
2011

Silver May Rise to $40/oz in March on Tight Supply: Bloomberg Chart of the Day

Risk aversion has returned with equity markets internationally under pressure after the Spanish downgrade and continuing geopolitical tension. Gold and silver have taken a breather and are lower in all currencies today. A correction is well overdue but the technicals and fundamentals would suggest that any sell off may again be short and shallow.

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09
Mar
2011

China Adviser – Buy Gold Bullion with Nearly $3 Trillion Chinese Reserves

Renewed fears over eurozone debt have seen the euro fall against most currencies and precious metals today. The yield on Greek 10-year bonds is approaching an alarming 13% after jumping to a new record high of 12.89% today (see bond charts below). The Portuguese 10-year rose to a new record high of 7.7% ahead of today’s auction where they borrowed 1 billion euros in order to avoid a “bailout”.

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08
Mar
2011

Silver and Gold Remain Near Record Highs as Greek and Portuguese Debt Hammered

Silver is higher against all currencies today and remains near yesterday’s 31 year high of $36.75/oz. Gold is slightly higher against most currencies, especially the Swiss franc and euro.

GoldCore

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07
Mar
2011

Oil, Gold Rise and Silver Surges to Record on MENA Contagion and Greenspan’s “Faulty” Fiat Currency Concerns

Concerns about Libya, Saudi Arabia and the Middle East and North Africa continue to dominate markets. There are growing concerns of contagion and oil supply disruptions from the region. Oil and gold have risen and silver for immediate delivery surged another 2.3% after climbing to $36.5375/oz, the highest price since February 14, 1980 when silver reached a its nominal high $50.35/oz.

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03
Mar
2011

China Gold Demand Voracious – Chinese Yuan Gold Standard?

 Gold and silver have recovered somewhat from slight falls in Asia overnight and are now higher against the British pound and Swiss franc which are weaker this morning. With geopolitical instability looking set to escalate and the real possibility of a military confrontation in the Mediterranean, any sell off in the precious metals will likely be tentative. 

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02
Mar
2011

Gold Reaches New Record High – News Barely Reported by Mainstream Media

 Gold prices settled at a new record high yesterday, as unrest in North Africa and the Middle East pushed the safe haven currency to $1,435/oz. Silver surged to new 30-year record nominal highs at $34.74/oz. Prices surged in dollars and all major currencies and look set to reach record highs in other currencies. 

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01
Mar
2011

Silver Rises to New Nominal 30-Year High of $34.44/oz; Italian Banks Want Protection of Gold Reserves

Silver has risen another 1.4% today to a high of $34.44/oz and above the 31-year interday high of $34.33/oz reached last Tuesday (February 22nd). Silver is higher in all currencies this morning, especially the Japanese yen. The news that Saudi Arabia may be sending tanks to crush anti-government protests in Bahrain saw buying of silver, gold and oil.

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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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