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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30
Sep
2009

GoldCore Precious Metals Update – Gold Well Supported in Mid to High $900/oz Region

Gold
Gold is currently trading at $1,001.80/oz and has bounced from a low of $991/oz and continues to follow currency movements. This week is the first week of the new Central Banks Gold Agreement, which caps gold sales from official reserves.

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29
Sep
2009

GoldCore Precious Metals Update – Gold To Consolidate Above Support at $985/oz?

Gold
US stocks rallied yesterday and the gold price soon recovered after initial falls, and resolutely stayed around the $990/oz level. The erratic nature of the dollar, at the moment, means that gold may still have its direction dictated by dollar volatility and traders may exploit this and push the limits of gold support in the short term, looking for favourable entry points.

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28
Sep
2009

GoldCore Precious Metals Update – Gold Falls as Markets Ignore Iranian Geopolitical Threat

Gold
A stronger dollar and a bout of profit taking saw gold slip back to the low $980s per ounce in early morning trading. It is currently trading at $989/oz and if it fails to pull itself above $990/oz, it may correct back further to $970/oz before support is found.

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25
Sep
2009

GoldCore Precious Metals Update – China Voices Dollar Concerns at G20 Summit in Pittsburgh

Gold
Gold fell yesterday on technical driven profit taking and is currently trading at $996.75/oz. It traded in a range overnight of $991-$999/oz. Support is now at $990/oz and resistance is at the recent high at $1,024/oz. All eyes are on the G20 summit in Pittsburgh and trading is likely to be cautious prior to the meeting.

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24
Sep
2009

Today is the 140 Year Anniversary of Black Friday 1869 and the Gold ‘Crash’

Today is the 140 Year Anniversary of the original Black Friday on September 24th, 1869. Since then the word ‘Black’ has been used to describe any day that the stock market, currencies or financial markets have crashed. There have been many, many such crashes but the one that birthed the term happened on this day 140 years ago.

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