14
Aug
2008

Gold Investments Market Update – Gold Fell Sharply in Dollars but not in Euro and Pounds

Gold

Gold finished trading in New York on Friday at $825.50, up $15.80 and silver was up 37 cents to $14.81. Gold continued to rise in Asian and early European trading and is trading at $831.80/832.40 per ounce (1200 GMT).

The much anticipated bounce in gold occurred yesterday and continued overnight as the dollar weakened and oil prices firmed again.

Since the start of the credit crisis, one year ago, gold remains up 27% (from $650 to $830).

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13
Aug
2008

Bear bet that netted £141m throws fresh suspicion on collapse

It seems that Wall St. are trying to blame the straw for breaking the camel’s back.

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12
Aug
2008

Gold Investments Market Update – Speculative Paper Sellers V’s Long Term Physical Investors

Gold

Gold finished trading in New York on Friday at $821.50, down $36.00 and silver was down 71 cents to $14.48. Gold continued to fall in Asian and early European trading and is trading at $809.00/809.60 per ounce (1100 GMT).

Speculative Paper Sellers V’s Long Term Physical Investors

The breach of the psychologically and technically important $845 – 850/oz level yesterday saw a massive wave of stop loss sell orders being executed leading to gold plummeting more than 4%.

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11
Aug
2008

Gold Investments Market Update – Dollar to Weaken Again Against Swiss Franc, Some Asian Currencies and Gold

Gold

Gold finished trading in New York on Friday at $857.50, down $11.90 and silver was down 92 cents to $15.29. Gold has risen in Asian and early European trading and is trading at $860.10/860.60 per ounce (1230 GMT).

The sharp dollar rally has continued (with the euro falling as low as 1.4927) and this is contributing to material weakness in the gold market.

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08
Aug
2008

The scale of bank borrowings visualised

Bank borrowings from the Federal Reserve

Anyone out there have a similar graph for the UK?

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08
Aug
2008

Gold Investments Market Update – Dollar Rallies – Another Dead Cat Bounce?

Gold

Gold finished trading in New York yesterday at $869.40, down $5.00 and silver was down 25 cents to $16.21.

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07
Aug
2008

Deep Protracted Recession Coming but Important to Keep Things in Perspective

Irish writer, Joe O’Connor has been appearing on RTE’s (Ireland’s national radio station – akin to the BBC) Drivetime in recent weeks with some witty, inspiring and uplifting poetry.

His beautiful words perfectly illustrate how an economic recession or depression is not the ‘end of the world’ rather simply a period of slower or declining economic growth.

While O’Connor’s poem is focused on

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07
Aug
2008

Gold Investments Market Update – Gold Up 31% in First Year of Credit Crisis

Gold

Gold finished trading in New York yesterday at $874.40, down $4.50 and silver was down 11 cents to $16.46. Gold has again recovered somewhat in Asian and early European trading and is trading at $883.00/883.40 per ounce (1058 GMT).

The credit crisis continues as evidenced in the world’s largest insurer, American International Group, reporting a quarterly loss of $5.36bn with profits wiped out by further mortgage related writedowns.

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06
Aug
2008

Gold Investments Market Update – Federal Reserve Statement Warns of Stagflation

Gold

Gold finished trading in New York yesterday at $878.90, down $20.50 and silver was down 56 cents to $16.57. Gold has recovered somewhat in Asian and early European trading and is trading at $885.20/885.70 per ounce (1200 GMT).

With commodities and oil falling again yesterday, gold continued its recent poor performance. Gold suffered technical damage yesterday with a close below the 200 day moving average at $887/oz. A weekly close below $887/oz would be even more damaging.

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05
Aug
2008

Gold Investments Market Update – Gold’s Traditional July/August Seasonal Low

Gold

Gold finished trading in New York yesterday at $899.20, down $9.10 and silver was down 37 cents to $17.13. Gold continued to sell off in Asia and in early European trading.

Gold has sold off on oil’s steep falls and with sharp falls in many other commodity markets.

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