Market Updates Archives - Page 10 of 40 - GoldCore News

Gold in Pounds Rises to New Record High over GBP 944/oz on Stagflation Risk – Moody’s Lists 14 UK Banks for Downgrade Review …

Gold is marginally higher in most currencies today as the yen, the dollar and the pound are all weaker. 

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Eurozone Debt Crisis Deepens Sending Euro Lower and Gold to New Record at EUR 1,080/oz

The euro, global equities and bonds in peripheral Eurozone countries are all lower this morning on heightened concerns about the debt crisis in the Eurozone. The euro has fallen against all currencies and is now at a record low against gold at EUR 1,080.21/oz. Silver is lower against most currencies but is higher against the Australian dollar and the euro ( EUR 24.80/oz).

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China Becomes World’s Largest Gold Buyer – Buys 93.5 Tonnes of Gold Coins/Bars in Q1 – Gold Ownership Rising From Minuscule Lvls

Gold and silver are higher again today with the debt laden dollar, euro and yen all being sold. News that China has become the world’s largest buyer of gold bullion and has seen investment demand double continues to reverberate in the markets and may have contributed to this morning’s strength. 

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Japanese Economy Contracts Very Sharply – Gold in Yen Consolidates Near 120,00 and Record Nominal High of 200,000 Yen Likely

 Gold is lower while silver is higher this morning after yesterday’s 1% and nearly 5% gains respectively. The yen has fallen as markets digest the news that the world’s third largest economy has again fallen into recession after a very sharp contraction in GDP growth in the first quarter. 

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UK and US Data Shows Stagflation Threat Deepening – Asian Gold Demand Remains Very High

Gold and silver have snapped their three day losing streak so far this morning and both are higher in all currencies. Sterling has fallen on this morning’s very poor UK employment data. This in conjunction with yesterday’s high inflation figure in the UK and negative data in the U.S. confirm the increasing threat of stagflation to western economies. 

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Soros Sells Gold ETF While Paulson Buys – PIMCO Favour Gold as a “Protection Against What Can Go Wrong”

Gold and silver are higher today while sterling is stronger and the Japanese yen has again come under pressure. The yen has weakened on deepening concerns about the Japanese economy and the BOJ Governor said that the Japanese economy is in a “very severe state”. Gold is trading at $1,491/oz, £919/oz, €1,055/oz and 121,850 yen per ounce.

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$14.3 Trillion U.S. Debt Ceiling Threatened; Silver Bullion Buying Spree in India After Price Falls

Gold and silver are lower this morning as the recent bout of weakness continues. Equities in Asia were lower on economic growth and inflation concerns and European indices are also lower as Greek debt talks are in disarray after the weekend arrest IMF’s Dominique Strauss-Kahn. Cross Currency Rates

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Gold a Bubble? Steve Forbes, Billionaire Media Magnate, Predicts New Gold Standard Within 5 Years

Gold and silver’s recovery in recent days proved to be temporary and further falls were seen yesterday (sharply in silver) prior to a tentative recovery overnight and then more falls again this morning. The euro has stabilized after recent sharp falls and euro gold at €1,050/oz remains comfortably above €1,000/oz after a period of correction and consolidation. Euro gold looks like it is set to break above record highs of €1,072/oz (12/28/10) and target €1,100/oz as the European debt crisis deepens.

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India, Indonesia, China and Wider Asia Buy Physical Gold and Silver on Dip as Stagflation Threatens

 Gold and silver have extended their recovery and may be headed for the fourth day of gains due to the continuing European sovereign debt crisis, Chinese inflation (+5.3%) and the real risk that rising oil and commodity prices are leading to an international inflation spiral and stagflation.

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Euro Gold Targets Record EUR 1,072/oz on Risk of Forced Greek Default and Euro Zone Debt Contagion

 Gold and silver continue to rebound from their sell offs as Euro zone periphery worries intensify with real risks of defaults and possible contagion. Gold has risen from €1,010/oz to over €1,057/oz since Friday. The long period of correction and consolidation may soon see a break out above resistance at record nominal highs of €1,072/oz - less than 1.5% below the current price.

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China Buying Silver Overnight, Prudent Money Holding and Accumulating Bullion on Dip

Gold and silver are tentatively higher after their 2% and 8% falls yesterday. In silver, speculators on the COMEX continue to liquidate on mass after margin was increased a massive 84% and various stop loss levels are hit, leading to further falls in the futures market.

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Silver’s Paper Driven Sell Off to Be Confronted by Continued Significant Physical Demand

 Gold stabilised in Asian and early European trading prior to a 1% fall, while silver’s sharp price fall continues and silver is now down 20% in USD terms in 5 days. The huge and unprecedented increase in margin in the paper silver market has forced some weak hands out of the silver market and allowed the concentrated shorts on Wall Street to press their advantage to the downside.

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Portuguese Gold Sale Urged by Senior German Lawmakers as Mexican Central Bank Buys 100 Tonnes

 Gold is mixed while silver is down some 1.5% again today. Weakness is being attributed to profit taking, momentum-driven traders and rumours regarding selling of gold and silver by George Soros’s fund.

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Gold Robust Despite Death of Bin Laden; Geopolitical Risk Remains Elevated due to North Africa, the Middle East and Pakistan

 Gold has remained robust despite the potentially negative short term implications for safe haven demand due to Bin Laden’s murder. This suggests that market participants do not believe that Bin Laden’s death is of any great importance or that participants realise that the global economy faces greater challenges than that of Bin Laden and al Qaeda.

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Secret Silver Buying by Russian Billionaire, Chinese Traders, and People’s Bank of China to Lead to Comex Silver Default?

 Gold rose to new record nominal highs at $1,540.85/oz in early Asian trading last night. Silver and gold remain very close to nominal highs today as the beleaguered US dollar remains under pressure due to ultra loose US monetary policies, deepening inflationary price pressures and concerns about the feeble economic recovery.

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Perfect Precious Metal Storm Continues – Gold Hovers Near New Nominal Highs at $1,534/oz

 Gold has risen to new record nominal highs of $1,534/oz as the dollar continues to be sold in international markets. Gold has eked out smaller gains in other fiat currencies but remains close to record nominal highs in euros, yen and pounds. Silver has risen by more than 1% in all currencies so far today.

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Gold and Silver Bubble? – Some Retail Investors Taking Profits and ETF and COT Data Suggest Otherwise

 Gold and silver are tentatively lower this morning despite the dollar and especially the yen being under pressure. The possibility of Japan being downgraded has seen the yen join the dollar under pressure and gold has risen to over 124,000 Japanese yen per ounce, some 2% below the record nominal high just over 126,000/oz.

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Gold and Silver Correction Possible but Store of Value Demand – Especially from Asia to Support

 Silver and gold are lower today after the record nominal highs seen yesterday (gold marginally and silver significantly). Gold reached $1,518.30 per troy ounce, a nominal record, while silver climbed to $49.79 per ounce, its highest nominal level since the short term parabolic spike in 1980.

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Silver Surges Over $46.25/oz as Rumours of a Short Squeeze and Cornering Market Gain Credence; Speculators Smell Blood

 Gold and silver have surged to new record nominal highs in dollar terms (all time and 31-year) with the dollar falling sharply on international markets. Silver has continued to surge in all currencies and has surged to a new record nominal high of $46.25/oz (£27.85/oz and €31.54/oz) on growing rumours of a short squeeze involving a billionaire or state interest attempting to corner the silver market (see FT news story below).

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Gold Breaches Nominal High of $1,500/oz; Inflation Adjusted High of $2,400/oz Remains Long Term Target

 Gold has breached the $1500/oz level and reached new record nominal highs at $1,505.65/oz. Since yesterday it has gradually risen in all currencies and is approaching record nominal highs in all major currencies. Gold has risen to EUR1,037/oz, GBP920/oz, AUD1,412/oz, CHF1,344/oz and JPY124,640/oz, and is now not far from recent record nominal highs of EUR1,054/oz, GBP922/oz, AUD1,440/oz, CHF1,349/oz and JPY126,000.

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Gold and Silver Bullion – News and Prices

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"There Will Be Pain": Bank of England's Carney Warns On Brexit

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