Gold is trading at $1,617.75/oz, €1,126.49/oz and £993.46/oz. Gold surged 1.4% ($23) from $1,600.90/oz to a new record nominal of $1,624.07/oz within an hour of the open in Asia. Gold reached new highs due to continuing uncertainty and theatre regarding the debt ceiling negotiations in Washington. Gold is higher in all currencies except the Swiss franc as the Swiss currency is also continuing to see flows.
Bailout euphoria has returned to markets with Asian and European stock indices rising on renewed risk appetite. Gold has recovered from yesterday’s slight sell off (0.6% in USD) and the firm gold price in all currencies suggests that market euphoria is again misplaced. Gold is down only 20 euros per ounce in the last 24 hours. Gold is trading at USD 1,596.10, EUR 1,108.1, GBP 978.50 and CHF 1,310.10 per ounce.
Gold is trading at $1,599.41/oz, €1,127.77/oz and £989.06/oz. Gold is mixed against various currencies today but is higher in euros after the euro has fallen on concerns that European leaders gathering for the summit in Brussels may not be able to resolve the Eurozone’s debt crisis and prevent contagion in the financial system.
Gold is trading at $1,587.56/oz, €1,115.72/oz and £983.31/oz. Gold is flat in U.S. dollars and New Zealand dollars but marginally lower in most currencies today as increased risk appetite has seen risk assets rally despite poor fundamentals. Most Asian indices were higher, except the Chinese and Indian markets, and European indices have also risen. Gold is trading at USD 1,587.00, EUR 1,116.1, GBP 983.50 and CHF 1,302.10 per ounce.
Gold is trading at $1,604.10/oz, €1,132.20/oz and £995.66/oz. Gold has fallen in most currencies today and is trading at USD 1,603, EUR 1,130, GBP 995 and CHF 1,315 per ounce. Gold is 0.3% higher in Swiss francs again today after the last two weeks of deepening turmoil saw gold rise in the Swiss franc. Cross Currency Rates
Gold is trading at $1,600.84/oz, €1,141.34/oz and £996.35/oz. Gold rose to new record nominal highs in debt laden U.S. dollars, euros and pounds today due to the growing risk of a systemic financial collapse and fiat currency crisis. Gold rose 0.5% in U.S. dollar terms to a new nominal record high at $1,602.05 per ounce. Euro falls saw the dollar rise 0.8% against the euro and gold rise 1.4% in euro terms to EUR 1,041 per ounce.
Gold is trading at $1,580.40/oz, €1,117.36/oz, £980.76/oz. Gold is some 0.5% lower against the U.S. dollar and most currencies today but higher in Australian dollars as the Aussie fell on Australian and global economic growth concerns. Asian equity indices were mixed as are European indices. Cross Currency Table
Gold is trading at $1,592.14/oz, €1,122.17/oz and £987.62/oz. Gold has risen to new record nominal highs at $1,594.45 per ounce and silver has surged another 3% to over $39 per ounce after yesterday’s 6% rise. Today’s London AM Fix gold fix was $1,592.50 £987.54 and €1,119.04 – all of which are new record nominal highs.
Gold is trading at $1,572.35/oz, €1,116.17/oz and £985.49/oz. Gold for immediate delivery rose to new record nominal highs of 987.58 British pounds and 1575.18 U.S. dollars in London this morning. New record nominal highs were seen for gold in euros (1,123.50 euros per ounce), pounds and dollars yesterday.
Gold is trading at $1,543.94/oz, €1,108.99/oz and £976.81/oz. Equities internationally and bonds in Greece, Ireland, Spain and Italy have fallen this morning while gold rose to new record nominal highs in euros and pounds (over EUR1,118/oz GBP980/oz respectively). The Italian 10 year rose above 6% for the first time and the Spanish 10 year yield rose to 6.12%. US stock futures are pointing to losses on the U.S. opening.
Gold is trading at $1,553.11/oz, €1,104.47/oz and £973.00/oz. Gold has risen to new record highs in pounds and euros as concerns about contagion in the eurozone and stagflation in the UK deepen. The euro has fallen sharply in international markets and is down 1.5% against gold so far this morning. European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis as concerns deepen over the sovereign debt crisis spreading to Spain and Italy.
Gold is trading at $1,528.33/oz, €1,071.99/oz and £958.08/oz. Gold was lower in most currencies except the euro this morning as euro weakness has kept gold close to record nominal highs in euros. Gold is 2.7%, 3.3% and 4% higher in dollars, pounds and euros for the week and looks set to close higher and near nominal highs in all currencies.
Gold is trading at $1,525.62/oz, €1,069.93/oz and £955.18/oz. Gold is marginally lower in pounds and dollars and marginally higher in euros ahead of the key interest rate announcement from the European Central Bank (1245 GMT). The Bank of England kept interest rates at historic lows of 0.5% and the ECB is expected to increase rates by 25 basis points to 1.5% today despite the Eurozone debt crisis.
Gold is trading at $1,515.06/oz, €1,055.42/oz and £945.73/oz. Gold is marginally higher in most currencies today and has risen a further 0.55% against the euro to EUR1,056/oz. It is just 3% from the record nominal high in euros at €1,087/oz due to the risk of contagion in the Eurozone.
Gold is trading at $1,504.13/oz, €1,039.34/oz and £933.89/oz. Gold is higher today and showing particular strength against the euro and the Japanese yen. The relief rally seen in equities since the latest Greek ‘bailout’ is under pressure as S&P have said the debt rollover proposal would be a “selective default”. The ECB may selectively reject the S&P Greek downgrade and arbitrarily select the best credit rating being offered.
Gold lost ground yesterday and is weak again this morning. The risk trade gathered strength as traders took a bullish view on the global outlook. Greek progress outweighed concerns over China's slow down in manufacturing, as represented by the Chinese Purchasing Managers Index's lowest number in 20 months. Continuing inflation concerns across Asia are prompting central banks to engage in monetary tightening. China's inflation is still uncomfortably high, standing tall at 5.5%, which exceeds official targets of 4% by a considerable margin. Oil is lower at $94.35.
The risk trade is on again, gold holds steady and may even be about to falter. The European Union's Financial Cavalry have saved the world from the evil Greek mobs by lending more money yet again. ......... Don't believe a word of it!
Gold is trading at $1,507.70/oz, €1,044.69/oz and £941.54/oz. Gold is higher again today as the Greek debt crisis and continuing strong demand from Asia continues to support prices. The euro is surprisingly firm with the U.S. dollar, Japanese yen and Swiss franc under pressure. Risk appetite remains high with commodities, Asian and European equities higher and peripheral bond markets have received a bid and seen yields fall due to optimism on the Greek vote.
Gold is trading at $1,501.60/oz, €1,052.35/oz and £941.09/oz. Gold is marginally higher in all currencies and 0.7% higher in sterling after a downward revision of UK GDP from 1.8% to 1.6% growth saw sterling decline. Stagflation appears to be taking hold in the UK with soaring food and energy costs eroding household incomes and economic growth continuing to decline.
Gold is trading at $1,502.40/oz, €1,055.87/oz and £939.18/oz. Gold is mixed today after last week’s 2.4% fall. The short term trend remains negative but medium and long fundamentals remain supportive as do the very challenging and risky macro, sovereign debt and currency environment. Physical buying remains strong at the $1500 level with premiums for gold bullion bars higher in Singapore and Hong Kong.