Market Updates Archives - Page 12 of 40 - GoldCore News

Japan Megaquake and Tsunami – Gold Mixed as Yen Surges against All Currencies

The massive earthquake and tsunami that has rocked Japan is being digested by markets and the economic ramifications and uncertainty is leading to risk aversion.

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Silver May Rise to $40/oz in March on Tight Supply: Bloomberg Chart of the Day

Risk aversion has returned with equity markets internationally under pressure after the Spanish downgrade and continuing geopolitical tension. Gold and silver have taken a breather and are lower in all currencies today. A correction is well overdue but the technicals and fundamentals would suggest that any sell off may again be short and shallow.

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China Adviser – Buy Gold Bullion with Nearly $3 Trillion Chinese Reserves

Renewed fears over eurozone debt have seen the euro fall against most currencies and precious metals today. The yield on Greek 10-year bonds is approaching an alarming 13% after jumping to a new record high of 12.89% today (see bond charts below). The Portuguese 10-year rose to a new record high of 7.7% ahead of today’s auction where they borrowed 1 billion euros in order to avoid a “bailout”.

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Silver and Gold Remain Near Record Highs as Greek and Portuguese Debt Hammered

Silver is higher against all currencies today and remains near yesterday’s 31 year high of $36.75/oz. Gold is slightly higher against most currencies, especially the Swiss franc and euro.

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Oil, Gold Rise and Silver Surges to Record on MENA Contagion and Greenspan’s “Faulty” Fiat Currency Concerns

Concerns about Libya, Saudi Arabia and the Middle East and North Africa continue to dominate markets. There are growing concerns of contagion and oil supply disruptions from the region. Oil and gold have risen and silver for immediate delivery surged another 2.3% after climbing to $36.5375/oz, the highest price since February 14, 1980 when silver reached a its nominal high $50.35/oz.

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China Gold Demand Voracious – Chinese Yuan Gold Standard?

 Gold and silver have recovered somewhat from slight falls in Asia overnight and are now higher against the British pound and Swiss franc which are weaker this morning. With geopolitical instability looking set to escalate and the real possibility of a military confrontation in the Mediterranean, any sell off in the precious metals will likely be tentative. 

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Gold Reaches New Record High – News Barely Reported by Mainstream Media

 Gold prices settled at a new record high yesterday, as unrest in North Africa and the Middle East pushed the safe haven currency to $1,435/oz. Silver surged to new 30-year record nominal highs at $34.74/oz. Prices surged in dollars and all major currencies and look set to reach record highs in other currencies. 

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Silver Rises to New Nominal 30-Year High of $34.44/oz; Italian Banks Want Protection of Gold Reserves

Silver has risen another 1.4% today to a high of $34.44/oz and above the 31-year interday high of $34.33/oz reached last Tuesday (February 22nd). Silver is higher in all currencies this morning, especially the Japanese yen. The news that Saudi Arabia may be sending tanks to crush anti-government protests in Bahrain saw buying of silver, gold and oil.

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February Sees Gold up 6% and Silver up 19% on Inflation and Escalating Geopolitical Risk

The paper-driven sell off in the gold market seen in January has been trumped by continuing robust physical demand in January and February. This has resulted in gold rising nearly 6% in February and silver’s strong industrial and investment demand leading to a 19% rise to new nominal 30-year highs.

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GoldCore Precious Metals Update, 25 February 2011

Gold and Silver Gold and silver are trading lower this morning at $1,401/oz and at $32.65/oz respectively. On the currencies, gold trades at £870/oz and €1,013/oz respectively. Silver trades at £20.31/oz and €23.66/oz. Market volatility driven by rumour and counter rumor over Gaddadfi's demise saw gold and silver fall and then reverse losses. Platinum Group Metals

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GoldCore Precious Metals Update, 24 February 2011

Gold and Silver Gold is trading higher this morning at $1,414/oz and silver is holding steady at $33.31/oz. On the currencies, gold trades at £874/oz and €1,026/oz respectively. Silver trades at £20.61/oz and €24.18/oz. Platinum Group Metals

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GoldCore Precious Metals Update, 23 February 2011

Gold and Silver The precious metals market remains steady with gold trading at $1,407/oz and Silver holding steady at $33.39/oz. On the currencies, Gold is trading at at £861/oz and €1,021.14/oz respectively, and silver is trading at £20.26 and €24.03. Platinum Group Metals Both platinum, trading at $1,795/oz, and palladium trading at $808/oz are lower from the start of the week, while rhodium remains steady at $2,400 per ounce.  

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GoldCore Precious Metals Update, 21 February 2011

Gold and Silver Today is a US holiday and gold is trading at $1,398/oz this morning but silver is the real mover with a 3.25% increase since Friday’s close, currently trading at $33.41/oz. On the currencies, gold trades up across all the majors showing £861.67/oz and €1,022/oz respectively; silver trades at £20.58/oz and €24.41/oz. Platinum Group Metals

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GoldCore Precious Metals Update, 18 February 2011

Gold and Silver Gold continues to strengthen and currently trades at $1,385/oz with silver tracking movements around the $31.73/oz level. On the currencies, gold trades at £854.29/oz and €1,021.43/oz (from the London AM Fix of $1,377.00/oz, £853.32/oz and €1,014.74/oz yesterday), and silver trades at £19.37/oz and €23.01/oz (from the London fixing yesterday of £18.99/oz and €22.59/oz respectively). Platinum Group Metals

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Surging Gold Demand a “Global Phenomenon” – Chinese Demand for Silver “Voracious”

Israeli comments led to dollar weakness and gold, silver and oil rallying yesterday. The Israeli government described the Iranian warships move into the Suez canal as a “provocation” and hinted at a possible response.

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European Sovereign Debt Crisis Deepening – Risk of Contagion and Bond Market Crash

 There is a real sense of the “calm before the storm” in markets globally. Complacency reigns, despite signs that the sovereign debt crisis in Europe is deepening and that Japanese and US bond markets also look very vulnerable due to rising inflation, very large deficits and massive public debt. 

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Precious Metals Rise Immediately on Higher than Expected UK Inflation

  Silver and particularly gold rose sharply on the release of the higher than expected UK inflation data. It showed that UK inflation quickened to 26 month highs at 4.0%. Currency debasement and higher food and energy prices are leading to an inflation surge in both developed and emerging markets.

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Silver Bullion COMEX Stocks at 4-Year Low as Backwardation Deepens

Gold and silver are higher after last week’s 1% and 3.5% gains in dollars. Silver is particularly strong again this morning and the euro has come under pressure as bonds in Ireland, Spain, Portugal and Greece continue to rise. While Asian equity markets were higher, European indices have given up early gains.

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Silver Bullion Backwardation Suggests Supply Stress

Gold and silver are higher against all currencies (except the Canadian dollar) in the wake of the worse than expected trade deficit number ($40.6 billion). Sterling and euro are particularly weak against gold and the US dollar today. 

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Silver Lease Rates Rise Sharply – Bond Yields in Portugal Rise to Record

Gold is down 0.32% against the US dollar which is higher against all major currencies today. Gold is marginally higher in euros, Swiss francs, and Aussie and Kiwi dollars. Silver is down 1% in US dollars and lower in all currencies.

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Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Asian Stocks Fall as Miners Decline; Yen Gains (Bloomberg.com) Gold prices ease despite slightly weaker dollar (Reuters.com) Bitcoin Hits New All-Time High Above $12,250 (GoldSeek.com) Don’t Expect Gold to Go Wild Next Year[...]

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Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Gold rises on bargain hunting after slumping to over 4-month low (Reuters.com) Dollar Heads for Weekly Gain, Asia Stocks Advance (Bloomberg.com) Platinum’s discount to palladium hits 16-year-high (Reuters.com) Consumer credit accelerated in October[...]

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

Gold and Silver Bullion - News and Commentary Gold volatility 'breakout' coming soon to ‘eerily quiet’ market - Metals Expert (CNBC.com) Gold inches up as dollar weakens after U.S. Senate tax bill stalls (Reuters) Dollar Dips as Tax Bill Hits Snag;[...]

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