Category: Precious Metals Update

10
Jul
2012

Gold as an Inflation Hedge

Today’s AM fix was USD 1,594.50, EUR 1,293.29 and GBP 1,026 per ounce. Monday’s AM fix was USD 1,581, EUR 1,287.15 and GBP 1,020.66 per ounce.

Gold closed at $1,587.80/oz in New York yesterday after having hit an intraday high of $1,592.80/oz. Gold’s gain on the day was $4/oz, or 0.25%. Silver closed at $27.34/oz, with a $0.23/oz or a 0.85% gain.

Gold has been trading up in Asian and Europe this morning, and is currently at $1,595.83/oz. Silver is trading at $27.49/oz.

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09
Jul
2012

The Effects of Increasing Global Money Supply on Gold

Today’s AM fix was USD 1581, EUR 1287.15 and GBP 1020.66 per ounce
Friday’s AM fix was USD 1591.75, EUR 1285.54 and GBP 1024.29 per ounce.

Gold fell by $20.60/oz in New York on Friday, closing at $1,583.80 with a small 0.93% loss on the week. Silver closed at $27.11/oz with a 1.35% loss.

Gold is little changed in Asian and European trading this morning, and is currently at $1,583.54/oz. Silver is up slightly from Friday’s close, and currently trading at $27.21/oz.

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06
Jul
2012

The Impact of Inflation and Deflation on Gold

Today’s AM fix was USD 1591.75, EUR 1285.54 and GBP 1024.29 per ounce.
Yesterday’s AM fix was USD 1617.00, EUR 1285.37 and GBP 1032.90 per ounce.

Gold fell by $18.40 in New York yesterday compared to Tuesday’s close prior to Independence Day, and ended with a small loss of 1.13% at $1,604.40/oz. Silver also dropped slightly, closing at $27.68/oz. Silver is currently trading at $27.48/oz.

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05
Jul
2012

Gold Drops After ECB Cuts Rates to Record Low

Today’s AM fix was USD 1616.75, EUR 1292.99 and GBP 1037.58 per ounce.
Yesterday’s AM fix was USD 1617.00, EUR 1285.37 and  GBP 1032.90 per ounce.

The ECB has cut the main refinancing rate to record low of 0.75%. Gold dropped sharply immediately following the announcement, but is currently rising again.

Gold is trading at $1603.75/oz. Analysts from Standard Bank in London say that a rate cut implies a lower real interest rate, which ultimately is bullish for gold. Gold’s fundamentals have not changed.

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04
Jul
2012

Gold Seen At USD 3,500, 6,000 and 10,000 Per Ounce

Today’s AM fix was USD 1617.00, EUR 1285.37 and GBP 1032.90 per ounce.
Yesterday’s AM fix was USD 1608.50, EUR 1278.31 and GBP 1025.70 per ounce.

Gold rose by $24.40 in New York yesterday and closed up 1.5% at $1,622.80/oz. Silver surged to as high as $28.45 and ended with a gain of nearly 3%.

Gold has traded erratically overnight and this morning in Europe but is slightly lower than yesterday’s close in New York.

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03
Jul
2012

Gold Coin Demand in H1 2012 Shows Fundamentals Driving Current Demand

Today’s AM fix was USD 1608.50, EUR 1278.31 and GBP 1025.70 per ounce.
Yesterday’s AM fix was USD 1,596.25, EUR 1,263.26, and GBP 1,018.34 per ounce.

In New York yesterday, gold rose to $1602.14 in late morning New York trade, but it then came under selling pressure towards the close and ended with a loss of 0.02%.

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02
Jul
2012

Commerzbank and Barclays Capital Positive On Gold

Today’s AM fix was USD 1,596.25, EUR 1,263.26, and GBP 1,018.34 per ounce.
Friday’s AM fix was USD 1,569.50, EUR 1,248.01, and GBP 1,006.09 per ounce.

Gold ticked lower in Asia prior to a brief bounce in Europe prior to further losses which have seen gold fall to 1,590.40 USD/oz. Gold is marginally lower in pounds at 1,015.80 GBP/oz and marginally higher in euros and Swiss francs at 1,263.30 EUR/oz and 1,517.70 CHF/oz.

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29
Jun
2012

Europeans Storing Gold in Switzerland On Concerns About Inflation and Systemic Risk

Today’s AM fix was USD 1,569.50, EUR 1,248.01, and GBP 1,006.09 per ounce.
Yesterday’s AM fix was USD 1,567.75, EUR 1,261.47, and GBP 1,008.98 per ounce.

Silver is trading at $27.26/oz, €21.25/oz and £17.54/oz. Platinum is trading at $1,420.25/oz, palladium at $576.20/oz and rhodium at $1,190/oz.

Gold fell $17.70 or 1.12% in New York yesterday and closed at $1,557.00/oz. Gold climbed over 1% overnight in Asia and maintained those gains in European trading.

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28
Jun
2012

Gold Bullion Coin – 1 Tonne Australian Kangaroo – Enters Guinness Book of Records

Today’s AM fix was USD 1,567.75, EUR 1,261.47, and GBP 1,008.98 per ounce.
Yesterday’s AM fix was USD 1,567.50, EUR 1,255.31, and GBP 1,003.39 per ounce.

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27
Jun
2012

Gold Bides Time As ‘Risk Free’ German Debt Downgraded On “Exposure to Eurozone”

Today’s AM fix was USD 1,567.50, EUR 1,255.31, and GBP 1,003.39 per ounce.
Yesterday’s AM fix was USD 1,583.25, EUR 1,267.41, and GBP 1,013.73 per ounce.

Silver is trading at $26.85/oz, €21.59/oz and £17.87/oz. Platinum is trading at $1,416.00/oz, palladium at $580.00/oz and rhodium at $1,190/oz.

Gold fell $11.90 or 0.9% and closed at $1,573.75/oz yesterday. Gold initially rose prior to gradual easing and that selling pressure increased soon after the open in Europe. Long term support is at $1,530/oz and resistance is at $1,640/oz.

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