Category: Market Updates

26
Oct
2010

Federal Reserve Will Target $2 to $4 Trillion in Bond Buys

Gold

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22
Oct
2010

Gold Corrects as G20 Meet to Discuss Competitive Devaluations and Currency Wars

Gold

Gold is lower today as the dollar has continued to eke out gains ahead of the G20 summit where competitive currency devaluations and currency wars are set to be discussed. Gold is down 0.3% in dollars and has fallen in most currencies except for the Swiss franc which is under pressure today.

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21
Oct
2010

Gold and QE2 – Buy on the Rumour, Sell on the News?

Gold

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20
Oct
2010

Sterling Falls on Economic Concerns over Record UK Public Borrowing

Gold

The knee jerk reaction to the Chinese interest rate rise was an increase in risk aversion which saw falls in equity and commodity markets and this contributed to gold falling more than 2%. Poor earnings results also contributed to the weakness in equities. Gold’s weakness was also likely due to the dollar rising and to profit taking after gold’s recent gains. Support is at $1,325/oz and $1,300/oz and resistance is at $1,374/oz and the record nominal high of $1,385/oz (see chart below).

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19
Oct
2010

Geithner Tries to Reassure about Dollar Despite Ultra Accomodative Monetary Policy

Gold

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14
Oct
2010

Gold Reaches New Record Highs and Silver Reaches Record 30 Year Highs on Dollar Weakness

Gold

Gold rose to new record nominal highs and silver to 30 year nominal highs again this morning as the dollar weakened and there were renewed concerns that large banks may have to raise more capital. Gold’s rise is not solely a dollar story with gold rising to near record nominal highs even in the safe haven currencies of the yen and Swiss franc. Gold rose to 112,537 yen an ounce in trading in London this morning, the highest price since June 28.

Gold is currently trading at $1,376.70/oz, €977.70/oz, £859.60/oz.

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13
Oct
2010

Gold and Silver Remain Near Nominal Highs – QE2 Leads to Increasing Dollar Concerns

Gold

Gold and silver continue to remain robust given the real concerns about the US, Eurozone and global economy. These concerns are creating doubt about the outlook for the dollar, the euro and other fiat currencies due to competitive currency devaluations and currency debasement. Gold has risen to near record nominal highs in British pounds (see chart below) and is less than 1% from a new high in dollars as the dollar has fallen again on QE2 concerns. Despite the recent rise in prices, physical demand remains robust especially in Vietnam, India and Asia.

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12
Oct
2010

Gold Down 0.6%; Securitised Mortgage Debt Threatens Second Phase of Financial Crisis

Gold

With the Federal Reserve soon to embark on QE2 and printing money and buying US bonds in a sizable way, possibly as soon as November, gold should be well supported when it does correct. As with all bull markets, gold is climbing a wall of worry with the public remaining unaware and (mainstream) media commentary sparse and skeptical. The primary trend remains up and short term pullbacks are to be expected.

Gold is currently trading at $1,346.80/oz, €975.21/oz, £851.00/oz.

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08
Oct
2010

COMEX Gold and Silver Sell Off Likely to Be Greeted by Eager Physical Buyers

Gold

Gold and silver’s weekly gains have been pared but both remain higher for the week so far. Gold and silver fell almost 1% and 2% respectively in trading on the COMEX yesterday. They traded sideways in Asian trading and have resumed their slide in early New York trading. The dollar has bounced from record monthly lows and this is leading to some selling. Profit taking is also likely after the recent run up in price.

Gold is currently trading at $1,328.80/oz, €957.28/oz, £837.48/oz.

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07
Oct
2010

Silver Surges But Remains ‘Ugly Sister’ and Still Playing Catch Up With Gold

Gold

Precious metals have risen to new highs on deepening concerns about the US economy and the growing risk of currency devaluations internationally. Gold reached new nominal record highs at $1,364.77/oz and silver reached new 30 year record nominal highs at $23.52/oz.

Gold is currently trading at $1,355.95/oz, €968.88/oz, £848.97/oz.

Silver

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