23
Feb
2010

Market Update – Gold steady, awaits new trend direction

GOLD

Gold dipped to $1,109.80/oz in US trading before recovering to $1,114..00/oz. It jumped to $1,121.00/oz in Asian trading earlier this morning before falling slightly. Gold is currently trading at $1,115.00/oz and in Euro and GBP terms, gold is trading at €817/oz and £722/oz respectively. As Euro weakness continues Gold/Euro remains well supported.

 

 

£722 proving resistance for Gold/GBP.

The 50 day and 100 day moving averages for USD/Gold converging. A crossover can be potentially interpreted as a bearish signal.

SILVER

Silver range traded this morning in Asia from $16.24/oz to $16.40/oz. Silver is currently trading at $16.28/oz, €11.92/oz and £10.53/oz. 

PGM’s

Platinum is trading at $1,545/oz and palladium is currently trading at $448/oz. While rhodium is at $2,525/oz.

Stephen Flood
Chief Executive Officer

I am the CEO of GoldCore. We help investors buy and store gold and silver easily and cost effectively. We work with clients of every variety from wealth family offices to everyday people. We provide the very best market data and client service and we care deeply for our clients interests.