February 2010 - GoldCore News

Market Update – Gold steady, awaits new trend direction

GOLD Gold dipped to $1,109.80/oz in US trading before recovering to $1,114..00/oz. It jumped to $1,121.00/oz in Asian trading earlier this morning before falling slightly. Gold is currently trading at $1,115.00/oz and in Euro and GBP terms, gold is trading at €817/oz and £722/oz respectively. As Euro weakness continues Gold/Euro remains well supported.     £722 proving resistance for Gold/GBP.

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Gold Sanguine as Federal Reserve Raises Discount Rate

GOLD Gold went on a strong run which peaked at $1,123.84/oz in US trading before dropping sharply back to $1,100/oz. It began Asian trading $1,105.00/oz before dipping to $1,101.00/oz. It has recovered since and Gold is currently trading at $1,108.00/oz and in Euro and GBP terms, gold is trading at €820/oz and £720/oz respectively.

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GoldCore Update – Gold steady near record high in Euro

GOLD

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GoldCore Update – Gold Strength Due to Risk of International Monetary Crisis

GOLD Gold rose another 3% in US trading yesterday to finish the day at $1,119.35/oz. It has since moved upwards to as high as $1,123.50/oz Asian trading so far this morning. Gold is currently trading at $1,118.00/oz and in Euro and GBP terms, gold is trading at €815/oz and £711/oz respectively.

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GoldCore Update 16/02/2010

Gold Gold built on last week’s gains and rose nearly 1% yesterday, closing at $1,099.50/oz and gold also rose in other major currencies. Gold has risen in Asian trading and again in early European trade and is currently trading at $1,113.20/oz and in euro and GBP terms €816/oz and £710/oz respectively. As expected the crisis in the Eurozone has seen gold surge in Euro terms to new record (nominal) highs over €817/oz – thus surpassing the previous record high seen in December 2009 at €813/oz.

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GoldCore Update: Technical Analysis – EUR/Gold Breaks Above €800/oz

Gold Gold was up 1.58% yesterday, closing at $1093.90/oz after having achieved a new session high of $1094.80/oz. It was flat in Asian trading but has given up some of yesterday’s gains in European trading. Gold is currently trading at $1,080.80/oz and in euro and GBP terms €796.19/oz and £691.09/oz respectively.

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GoldCore Update: Global Investment Guru Sees Gold as “Great Buying Opportunity”

Gold Gold rallied as high as $1,083/oz early yesterday in US trading before dropping by $19 but it soon recovered to finish the day down marginally at $1,075.30/oz. It moved upwards to as high as $1,080/oz in Asian trading this morning and has held those gains in morning traded in Europe. Gold is currently trading at $1,078.00/oz and in euro and GBP terms, at €785/oz and £693/oz respectively. The fiscal challenges facing the UK and eurozone economies are seeing gold challenge resistances at £700/oz and €800/oz.

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Confluence of Technical Factors Suggest Support Between $1,019/oz and $1,025/oz – Technical Analysis & Bloomberg Chart

Gold Gold rose nearly 1% to close at $1,076.50/oz in US trading. It then range traded between $1,074/oz and $1,080/oz in Asian trading this morning. Gold is currently trading at $1,080.00/oz and in euro and GBP terms, gold is trading at €783/oz and £686/oz respectively.

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GoldCore Update: Poor German and UK Data Underlines Sterling and Euro Risk

Gold Gold rose some 1% in US trading yesterday to close at $1,065.30/oz. It then rallied to over $1,073/oz Asian trading before giving up some of those gains in European trading this morning. Gold is currently trading at $1,066.00/oz and in euro and GBP terms, gold is trading at €779/oz and £685/oz respectively. The Dow’s close below 10,000 yesterday will make market participants nervous especially from a technical perspective. However, world stock markets have not reacted overly negatively and are mixed this morning.

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GoldCore Update: Gold Technically Damaged But Fundamentals Remain Sound

Gold

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GoldCore Update: Turmoil on Sovereign Contagion and Economic Growth Risk

Gold Gold fell sharply yesterday and is trading at $1,052/oz. In Euro and GBP terms, gold is trading at €770/oz and £673/oz. Support for gold is currently seen at $1,025/oz to $1,030/oz and resistance at $1,115/oz.

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GoldCore Update: Concerns About Dislocation in Sovereign Debt Markets and Eurozone Contagion

Gold Gold fell 0.5% yesterday and is trading at $1,102/oz. In euro and GBP terms gold is trading at €797/oz and £696/oz. Support for gold is currently seen at $1,076/oz and resistance at $1,115/oz. Risk aversion is making a comeback in markets internationally which has seen equity markets in Asia and in Europe this morning come under pressure after yesterday’s falls on Wall Street. Gold has fallen slightly this morning on continuing strength in the dollar and weaker oil (on falling US demand).

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GoldCore Update: Gold in Euros above €800/oz on Concerns for Euro

Gold Gold (and silver) rose some 1% yesterday prior to range trading in the US yesterday from - $1,110/oz to $1,115/oz. It has moved upwards Asian trading so far this morning jumping from $1,113/oz to $1,124/oz. Gold is currently trading at $1,121.00/oz and in Euro and GBP terms, gold is trading at €802/oz and £700/oz respectively. The continuing problems in the Eurozone are seeing the gold rise in Euro terms and a weekly close above €800/oz will be very positive technically.

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GoldCore Update: Gold’s Long Term Inverse Correlation to Equities Asserting Itself

Gold Gold had a strong run in US trading yesterday closing above the psychological $1,100/oz at $1,103.60/oz. It  moved sideways in Asian trading so far this morning prior to rising to $1,114/oz at the London AM Fix. Gold is currently trading at $1,114.50/oz and in euro and GBP terms, gold is trading at €794/oz and £694/oz respectively.

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GoldCore Update: Dollar Rally Confronted by Massive US Budget Deficit

Gold Gold fell slightly on Friday to result in slight fall for the week and a slight fall for the month of January – gold was down 1.1% in January. Gold started the first week of February at $1,081/oz and rose to $1,084/oz in Asian trading. Gold is currently trading at $1,081.60/oz and in euro and GBP terms, gold is trading at €780/oz and £681/oz respectively.

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