22
Oct
2009

GoldCore Update: Concerns About Disorderly Monetary and Economic Crisis Increasing

ObamadollarGold
Gold is currently trading at $1,054.60/oz. In euro and GBP terms, gold is trading at €704.60/oz and £637/oz. Support for gold is currently seen at $1,043/oz and resistance at $1,070/oz.

Continue Reading
21
Oct
2009

GoldCore Update: Niall Ferguson: “Dollar is Doomed; US Empire is Finished”

Niall Ferguston - The Ascent of MoneyGold
Gold is trading at $1.056/oz this morning and traded in a very tight range overnight. In EUR and GBP terms, gold is trading at €707/oz and £638/oz respectively.

Continue Reading
20
Oct
2009

GoldCore Update – Gold’s Real Inflation Adjusted High at USD 7,150/oz

Gold
Gold is trading at $1.063/oz this morning and traded between $1,048/oz and $1,066/oz over the last 24 hrs. In EUR and GBP terms, gold is trading at €710/oz and £648/oz respectively. Gold continues to gradually eke out gains and consolidate at near record levels on continuing oil strength and dollar weakness. Buying of physical remains robust on all price dips and this bodes well for further record highs in the short term.

Continue Reading
19
Oct
2009

GoldCore Update – Gold Supported by Oil at Yearly High and USD Near Record Lows

Gold
PetrodollarGold is currently trading at $1,055.60/oz. With oil reaching a new high for the year above $79 a barrel, and the Federal Reserve signaling interest rates will stay near record lows for the foreseeable future, the beleaguered greenback fell to a 14-month low on the dollar index. The poor jobs number on Friday left lingering doubts regarding the sustainability of the recovery and this also supported gold.

Continue Reading
16
Oct
2009

GoldCore Update – Gold Versus Global Foreign Exchange Reserves (1980: $0.5 Trillion; 2009 $7 Trillion)

Dhanteras celebrationsGold
Gold is currently trading at $1,048.10/oz. In euro and GBP terms gold is trading at €703/oz and £640/oz. Support for gold is currently seen at $1,034/oz and resistance is at $1,054/oz. Gold took a much needed breather yesterday and fell some 1%.

Continue Reading
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.

Continue Reading
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.

Continue Reading
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.

Continue Reading
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.

Continue Reading
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).

Continue Reading