October 2009 - GoldCore News

Paul Tudor Jones ♥ Gold

Gold bugs of the world, unite! You have nothing to lose but your exposure to fiat currencies. Or so says leading hedgie and Wall Street throw back Paul Tudor Jones, who in his latest missive to investors has gone soft at the knees for the yellow metal: "I have never been a gold bug. It is just an asset that, like everything else in life, has is time and place. And now is that time." Rousing stuff indeed.

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GoldCore Update: Tudor Jones Joins Soros, Rogers, Einhorn and Paulson as Long Term Gold Bull

Gold Gold is trading at $1.043/oz and traded in a $22 range over the last 24 hours, hitting a low of $1,026/oz yesterday morning. Gold then rallied strongly and closed at $1,046.40/oz and has maintained yesterday’s gains in Asian and European trading. Some of the short term frothy excess has been removed from the market and the selloff has seen physical buyers in India return to buying for the wedding season.

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GoldCore Update: Gold Entering Traditionally Strong Period of November and December

Gold Gold is trading at $1.033/oz and touched $1,026/oz in overnight trading. Gold fell again yesterday and continues to consolidate above the $1,000 level.

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GoldCore Update: Record Amount of US Debt Ever Sold in One Week ($153B)

Gold Gold closed trading at $1,037.20/oz. In euro and GBP terms gold is trading at €700/oz and £634/oz. Gold’s short term frothiness after sharp gains has led to profit taking and an expected correction back down to previous resistance at the $1,030/oz level.

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GoldCore Update: USD Wobbles on Chinese Currency Diversification Concerns

Gold Gold closed trading at $1,039.80/oz In euro and GBP terms gold is trading at €699/oz and £635/oz. Support for Gold is currently seen at $1,030/oz and resistance at $1,053/oz.

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GoldCore Update: Enter the Dragon – Chinese Citizens Significantly Increasing Gold and Silver Ownership

Gold Gold closed Friday night trading at $1,058.70/oz. In euro and GBP terms gold is trading at €704.55/oz and £642/oz. Gold looks set for its fourth week of gains (if it can remain above $1,053/oz) and this would be bullish technically.

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New GoldCore Wealth Management Blog

GoldCore Wealth Management now has a dedicated website, with its own blog. You can find it here: http://www.wealth.goldcore.com/blog

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GoldCore Update: Concerns About Disorderly Monetary and Economic Crisis Increasing

Gold 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.

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

Gold 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.

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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.

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

Gold Gold 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.

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

Gold 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%.

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

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

Gold 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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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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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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