15
Oct
2009

GoldCore Update – Gold’s Bull Market Due to Supply & Demand Economics

Johnson Matthey 10 oz Silver BarGold
Gold is trading at $1.056.50/oz. In EUR and GBP terms, gold is trading at €706.82/oz and £655.25/oz respectively.  Resistance currently lies at $1,064.10/oz and $1,070/oz with initial support at $1,048.60/oz and then $1,040.70/oz.

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14
Oct
2009

GoldCore Update – Gold New Record Highs; USD Record Lows Again?

Gold
Gold has traded at new nominal record highs (over $1,070/oz) and is currently trading at $1.066/oz. In EUR and GBP terms, gold is trading at €715/oz and £665.90/oz respectively.  Resistance currently lies at $1,070/oz with initial support at $1,050/oz and then at $1,040/oz. With oil back above $75 per barrel and at a 1 year high, and the dollar again under pressure today, gold continues to eke out gains.

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13
Oct
2009

GoldCore Precious Metals Update – Gold at New Record Nominal Highs at $1,064/oz , Comex Open Interest Well Below Recorded Levels

Gold
Gold has surged to new record nominal highs above $1.064/oz in trading in Europe this morning. With the US Holiday yesterday gold traded in a $10 range on Monday. In euro and GBP terms, gold is trading at €719/oz and £675.86/oz respectively.

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12
Oct
2009

GoldCore Precious Metals Update – Uncertainty For Dollar, Euro and Sterling Leading to Higher Gold Prices in All Currencies

Gold
Gold closed Friday night trading at $1,048/oz and is currently trading $3 higher at $1,051/oz. In euro and GBP terms, gold is trading at €713/oz and £666/oz and has risen sharply in these currencies in recent days. Support for gold is currently seen at $1,040/oz and resistance at $1,062/oz. The record weekly close was bullish from a technical perspective but gold may need a correction and consolidation prior to challenging the next psychological level of $1,100/oz.

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08
Oct
2009

GoldCore Precious Metals Update – Gold New Record High at $1,058/oz but Remains Less than Half its Real Price of 30 Years Ago

Gold
Gold continues to push higher and took out resistance of $1,050/oz yesterday and moved toward $1,060/oz before retreating slightly. With investors continuing to allocate funds into the gold market, the next target is likely to be an assault on the psychological $1,100/oz level. Increasing concerns of a double dip recession and of the outlook for major currencies is leading to continuing robust investment demand (significant gold ETF demand in recent days).

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07
Oct
2009

GoldCore Precious Metals Update – Gold Surges to New Record Nominal Highs at $1,048/oz

GoldHistorical gold in 2009 prices
As the dollar came under increasing pressure yesterday, gold surged to fresh highs, breaking through two levels of resistance ($1,020/oz and $1,033/oz) and is currently trading at $1,047/oz.

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06
Oct
2009

GoldCore Precious Metals Update – Threat to Petrodollar Sees Gold Surge to Near Record Highs

Gold
The dollar came under sustained pressure as the Independent of London’s Robert Fisk broke a story stating that a group of Arab countries, Russia, France, Japan and China and others were in secret discussions to use a basket of currencies and gold to replace the dollar in order to trade oil.

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06
Oct
2009

Robert Fisk and Australian Central Bankers Push Gold To $1,040/oz

Gold has surpassed its all time record high ($1,033/oz) of some 18 months ago today, and surged to a new record nominal high over $1,040/oz this morning. The reasons for gold’s new record historic high and likely continuing strength in the coming months are the same fundamental factors that have been driving the gold market higher in recent months.

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05
Oct
2009

GoldCore Precious Metals Update – Poor US Jobs Report Leads to Renewed Risk Aversion

Gold
Gold surged back through $1,000/oz on Friday, as the dollar weakened  based on poor US non-farm payroll data. It is holding above that level and a continued hold above $1,000/oz should signal that gold has strong fundamentals  despite its recent behaviour being influenced by short term dollar fluctuations.

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02
Oct
2009

GoldCore Precious Metals Update – Gold’s Record Monthly Close Is Significant from a Technical Perspective

Gold
Gold is down slightly this morning but still continuing to knock on the door and consolidating near the psychological $1,000/oz mark. The gold market will probably be relatively quiet until the release of US non- farm payroll data this afternoon.

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