Market Updates Archives - Page 19 of 40 - GoldCore News

China Reassures Global Markets and Promotes Yuan Denominated Gold Investments

Gold Gold edged higher again yesterday on a continuing safe haven bid due to various macroeconomic and geopolitical risks and has fallen marginally in trading today. Gold is currently trading at $1,206.48/oz and in euro and GBP terms, at €976.43/oz and £830.34/oz respectively.

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Flight to Safety – Gold Surges to Near EUR 1,000/oz and Over USD 1,200/oz

Gold The flight to safety yesterday saw gold and US and German government bonds rise while equities fell internationally. Gold's rise was marginal but was significant all the same given the very sharp falls seen in equity and commodity markets. Gold rose sharply in euros and in the commodity currencies as these currencies came under pressure.

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Gold Remains Firm on Geopolitical Risks and Fears of a ‘Perfect Storm’

Gold Gold's safe haven qualities are again being seen after its higher close yesterday despite falling US equity indices and it remaining robust today (down 0.4% in USD terms) despite sharp falls in Asian and European indices. Some analysts are warning of a "perfect storm" that could again destabilise the global financial and economic system. While "perfect storm" talk may be hyperbole there can be little doubt that the many extreme headwinds have led to a degree of risk similar to that seen after the collapse of Lehman Brothers.

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Gold and Dollar Rise as Euro and Equities Under Pressure Again

Gold

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Precious Metals, Commodity Currencies and Stocks Fall

Gold Gold closed with a loss of 1.09% yesterday. It rose from $1,206/oz to $1,220/oz in Asian and early European trading this morning. Gold subsequently came under pressure due to profit taking and institutional selling driving prices through key technical levels. Gold is currently trading at $1,190/oz and in euro and GBP terms, at €965/oz and £827/oz respectively.

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Gold Falls on Profit Taking as Retail Investors Remain Hesitant

Gold Gold fell for a fourth day in Europe due to profit-taking but  is likely to remain supported due to continued concerns about sovereign debt contagion and currency risk. Gold rose to a record intraday nominal high of $1,249 a troy ounce last Friday but has since pared back its gains and is now trading at $1,209.95 an ounce, down 1.3% on the day amid a combination of profit taking and increased risk appetite.

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Euro Gold Near €1,000 on Euro Survival Concerns

Gold Gold has dropped from $1,242/oz to $1,230/oz in Asian and early European trading this morning. Gold closed with a slight loss of 0.11% in dollars on Friday while it was stronger in most other currencies. For the week, gold rose by 1% in dollars and by much more in other currencies and especially in the beleaguered euro.

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Gold at $1500/oz Forecast by Gold Analysts on Sovereign Debt and Currency Concerns

Gold Gold has consolidated near record highs in Europe today as concerns about eurozone debt default and sovereign debt contagion remain. Gold rose to $1,246/oz early in the afternoon in New York yesterday before closing with a gain of 1.92%. It then rose to a new all time nominal high of $1,248.20/oz after New York closed. It has range traded from $1,233/oz to $1,239/oz in Asian and early European trading this morning. Gold is currently trading at $1,234/oz and in euro and GBP terms, at €982/oz and £837/oz respectively.

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Gold at New Record Highs; Silver Surges 4% and Breaks Long Term Resistance

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Gold Tests Record Highs as Euphoria on Short Covering Rally Fades

Gold Gold has recovered from the slight sell off seen yesterday and stayed above $1,200/oz in Asian trading before rallying in early European trading. The initial euphoria that saw stocks and the euro surge yesterday has quickly dissipated with the euro giving up most of yesterday's gains and stocks coming under pressure this morning. Yesterday's relief rally may have been more about a massive short covering rally than anything else and there is a growing realisation that the unprecedented measures may not be enough to contain the eurozone debt crisis.

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Nuclear Option of $1 Trillion EU Bailout Loans Leads to Renewed Market Euphoria

Gold The unprecedented $1 trillion EU bailout and printing money to buy bonds package has led to renewed risk appetite. It has seen equity markets surge in a euphoric buying splurge (European stock markets are up between 4% and 11%) and the euro has strengthened against most currencies (see Cross Currency table). Gold has fallen 0.8% in dollar terms and by more in other currencies and the bouncing euro.

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Gold ‘Decouples’ on International Debt Crisis Concerns – Gold Forecast to Reach $3,000 Per Ounce

Gold The sharp sell off on Wall Street and with equities internationally saw gold decouple and surge in all currencies yesterday. Oil, commodities and bonds also fell sharply in incredibly volatile trading.

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Bullion Denominated in Euros, Pounds and Swiss Francs At New Record Highs as Contagion Spreads

Gold Bullion denominated in euros and Swiss francs surged to new record highs this morning. The euro has again come under severe pressure as contagion risks increase. While all the focus is on Europe right now, similar risks face the UK and US economies and this is leading to significant safe haven demand for gold internationally.

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Gold Robust and Remains Near Record Highs in Most Currencies

Gold Gold has recovered from slight falls in Asia and is slightly higher in most currencies this morning - trading at USD 1,172 GBP 773 and EUR 903 per ounce this morning (see Cross Currency Table below). Gold is being supported by the significant risk to the stability of the European monetary union and the wider financial system and this is seeing investors internationally, and especially in Europe, diversify into gold.

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Gold Surges To New Record Highs in Swiss Francs, Euros and Pounds

Gold Gold rose to new five month highs in New York on signs of increased investment demand for the metal as an alternative to the euro and other currencies. Bullion surged to new nominal record highs in euros, Swiss francs and British pounds (see charts), extending gains this year as concern about sovereign debts in Europe encouraged investors into the safe haven of gold.  Despite the yen being higher against all other major currencies, gold rose to 112,669 Japanese yen an ounce, the highest price in yen since February 1983.

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Silver Surges to $18.68/oz – Breakout Above Resistance Could Lead to March 2008 Record High of $20.88/oz

Gold Gold reached new 2010 high in dollars (over $1,175 per ounce) in Asian trading overnight and again Europe this morning (over $1,177 per ounce) as investors continue to allocate funds to gold in order to hedge sovereign debt contagion risk.

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Eurozone Debt Crisis is the ‘Canary in the Coalmine’ as US Deficits Soar

Gold Gold finished at its highest level since early December and had its fourth consecutive day of gains Wednesday as a debt ratings downgrade for Spain and surging credit spreads created new fears of the eurozone sovereign debt crisis spreading and financial contagion. Gold for June delivery gained $9.60/oz, or 0.8%, to $1,171.80 an ounce on the Comex division of the New York Mercantile Exchange.

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Gold at Record Highs in CHF, EUR and GBP – New Record in USD Due to Safe Haven Demand?

Gold Gold rose to its highest level in 2010 (highest since December 4th,  2009) and new record highs in euros, Swiss francs and British pounds as ratings downgrades of Portugal and Greece fanned sovereign risk and contagion fears. Gold dipped to $1,146/oz early in New York before rising sharply to $1,164/oz on the downgrade news. It then saw profit taking and closed with a gain of 0.7%.

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Gold in British Pounds Near Record Highs on Hung Parliament and Budget Deficit Concerns

Gold Gold dipped to $1,150/oz after lunch in New York before recovering to close with a gain of 0.03%. It has range traded from $1,150/oz to $1,157/oz in late Asian and European trading this morning. Gold is currently trading at $1,155/oz and in euro and GBP terms, at €865/oz and £749/oz respectively. Gold remains near record highs in euros and Swiss francs. Gold in sterling has rallied today by more 2% today as sterling has fallen on hung parliament and UK fiscal deficit concerns.

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Gold Rises to New Record High in Euros and Swiss Francs

Gold Gold dipped to $1,135/oz early in New York before dipping rising sharply to close with a gain of 0.95%. Gold closed last week some 2% higher in dollars and 3% higher in euros. It has dipped from $1,159/oz to $1,155/oz in Asian and European trading this morning. Gold is currently trading at $1,155/oz and in euro and GBP terms, at €867/oz and £748/oz respectively. Gold has surged to new nominal record highs in Swiss francs and in euros (see charts).

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