July 2010 - GoldCore News

GoldCore Update: Gold in Euros in Correction – New Record Highs in Euros Likely

Gold Gold continues to consolidate above the $1,200/oz level and traded in a range between $1,207/oz and $1,215/oz overnight in Asia. Gold has risen slightly in European trade as the dollar has come under pressure. The poor retail sales have created concerns about the health of the US consumer and the other poor recent data on jobs and trade and budget deficits may see the dollar come under pressure again. Support for gold is at $1,195/oz and resistance is at $1,217.90/oz.

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Gold in Euros in Correction – New Record Highs in Euros Likely

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Gold Options at $2,000/oz Surge By More Than 1,000% in 10 Weeks

Gold Gold rose 1.26% yesterday after the Portuguese debt downgrade; silver rose 2%. Gold has gradually edged up in Asian and early European trade. It may challenge resistance at yesterday's high of $1,217.90/oz but if it falls below the recent trading range of $1,210/oz to $1,215/oz it could quickly fall to short term support of $1,195/oz and $1,190/oz. Gold is currently trading at $1,213/oz and in euro, GBP, CHF, and JPY terms, at €955/oz, £795/oz, CHF 1,284/oz, JPY 107,498/oz respectively.

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Irish Hospice Foundation’s Dublin to Paris Cycle Co-sponsored by GoldCore

The Irish Hospice Foundation’s Dublin to Paris Cycle is being co-sponsored by GoldCore and the cycle is being done by GoldCore’s Executive Director, Mark O’Byrne. The cycle is 500 kilometers long and starts at 7:30am on Sunday July 18th in Dublin and arrives in Paris, 5 days later on Thursday, the 22nd of July.

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Gold Higher on Portuguese Downgrade and Lingering Concerns of Contagion

Gold Gold spiked higher today in all currencies as Portugal's downgrading and prices below $1,200/oz led to buying. The euro fell against both the dollar and gold (from €954 to €960 per ounce - see chart) on Moody's two-notch downgrade of Portugal. The downgrade was expected but it has ignited concerns that the European sovereign debt markets remain vulnerable, leading to continuing safe haven demand for gold. Lingering concerns over the European bank stress tests and the European banking system are also supportive.

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Markets Await Inflation Figures from Eurozone, UK, US and China

Gold Gold is lower in Asian and early European trading on low volume as the dollar has risen and renewed risk appetite has resulted in tentative gains in equity markets. Gold's marginally higher weekly close last week was positive from a technical point of view and could lead to follow through this week as momentum following traders and funds "make the trend their friend". Gold is currently trading at $1,207/oz and in euro, GBP, CHF, and JPY terms, at €960/oz, £804/oz, CHF 1,284/oz, JPY 106,825/oz respectively.

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Gold to be Supported by Massive Fiscal Challenges Facing the US and Western Economies

Gold Gold fell $2.50 to $1195.30/oz yesterday and is now down 1% on the week. It traded sideways in Asia and down in early European trading. Another lower weekly close will again be bearish technically and would suggest that further retrenchment and consolidation may take place. A higher close today and on the week would help reverse the technical damage done recently. Gold is currently trading at $1,197/oz and in euro, GBP, CHF, and JPY terms, at €944/oz, £788/oz, CHF 1,261/oz, JPY 105,998/oz respectively.

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Gold to be Supported by Negative Real Interest Rates

Gold Gold fell to an inter day six week low yesterday of $1,184.75/oz yesterday before a strong rebound which saw it close higher on the day at $1,197.80/oz. It rose above $1200/oz in Asian trade to $1,207.75/oz prior to giving up some of those gains in early European trade. Many traders and investors who have nee on the sideline in recent weeks see the present sell off as a buying opportunity. Gold is currently trading at $1,200/oz and in euro, GBP, CHF, and JPY terms, at €948/oz, £792/oz, CHF 1,263/oz, JPY 105,665/oz respectively.

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346 Tonne Gold Swap with BIS is Positive for Gold

Gold

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Gold Consolidates Tentatively Above $1,200/oz on Asian Demand

Gold

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Spectre of Double Dip Recession to Support Gold

Gold Gold has had a quite start  to the week trading in a tight range between $1,210/oz and $1,215/oz so far in Asian and early European trading. With the US out for the Independence Day holiday it looks set to be a quite day although low volumes could result in volatility. A close below $1,200/oz could see gold fall to support at $1.185/oz and strong support at $1,165/oz. Gold is currently trading at $1,210/oz and in euro, GBP, CHF, and JPY terms, at €966/oz, £800/oz, CHF 1,285/oz, JPY 106,249/oz respectively.

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Gold Suffers Sharp Correction on Fund Liquidation and Proft Taking

Gold

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2010 YTD Gold Up 13% in USD, 19% in GBP and 24% in EUR

Gold Gold rose again yesterday in dollars and other currencies, especially sterling which fell against nearly all currencies (see chart below). Gold is currently trading at $1,244/oz and in Euro, GBP, CHF, and JPY terms, gold is trading at €1,008/oz, £830/oz, CHF 1,328/oz, JPY 109,574/oz respectively.

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Goldnomics Podcast - Gold, Stocks, Bitcoin in 2018. Everything Bubble Bursts?

Goldnomics Podcast - Gold, Stocks, Bitcoin in 2018. Everything Bubble Bursts?  [iframe sandbox="allow-popups allow-same-origin allow-scripts" src="//player.blubrry.com/id/29580649/#time-0&darkOrLight-Light&shownotes-ffffff&shownotesBackground-444444&download-ffffff&downloadBackground-003366&subscribe-ffffff&subscribeBackground-fb8c00&share-ffffff&shareBackground-1976d2" width="300px" height="138px"] Press play to listen to podcast In this our first GoldNomics podcast we take a look at the major financial market themes[...]

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London Property Woes Continue As House Prices Fall to 2.5 Year Low

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Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Bitcoin Heads to Bigger Wall Street Stage as CME Debuts Futures (Bloomberg.com) Bitcoin Hits New All-Time High At $19,659.50 (GoldSeek.com) The EU has signed a deal to integrate 23 armies (WeForum.org) Seasonally, January[...]

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