Market Updates Archives - Page 9 of 40 - GoldCore News

China Gold Association: Chinese Gold Sales to Surge Two Fold and Gold May ‘Rocket’ if Debt Crisis Spreads

Gold is lower again today after yesterday’s 2% fall in U.S. dollar terms. Gold’s fall in euros yesterday was mild due to euro weakness. Gold is marginally higher in euros today as the euro remains weak on continuing concerns about the Greek and Eurozone debt crisis.  Cross Currency Rates

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Trichet: Debt Crisis is Flashing “Red” – Marc Faber Continues to Like Gold and Silver and Accumulating

Gold is trading at $1,540.00/oz, €1,081.46/oz and £962.86/oz. Gold is marginally lower in U.S. dollars but continues to eke out gains in euros. The euro has fallen again today possibly as markets digest Trichet’s grim warning regarding financial contagion.  Gold at €1,081.40/oz is less than 1% away from record nominal highs in euros at €1,088/oz. Currency debasement and sovereign debt and systemic risk remains high which is leading to gold consolidating near record highs in most currencies.

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Greeks Turn Savings to Gold and Perth Mint Silver Coin Sales Surge to Record on Haven Demand

Gold is trading at $1,544.31/oz, €1,072.96/oz and £957.30/oz. Gold is lower in dollars but higher in euros and has reached new record highs in pounds sterling at £958.25/oz. Gold is being supported by strong and increasing demand internationally. 

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Gold and Silver Imports in India Surge a Massive 222% – Official Inflation Surges to 8.65%

Gold is trading at $1,544.39/oz, €1,076.08/oz and £954.27/oz.

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Gold Rises to New Record in GB Pounds – Close to Near Record Highs in Euros and Most Currencies on Global Debt Contagion Risk

Gold is trading at $1,535.85/oz, €1,080.37/oz and £950.28/oz. Gold is being supported as default risk has increased after EU finance ministers failed to agree on a new Greek loan package. Gold priced in sterling rose to new record nominal highs this morning at £954.84/oz and the weakness of the euro has seen gold rise to touching distance (9 euros) from new record highs in euro terms at €1,088/oz.

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Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed? Congressman Ron Paul Pressures U.S. Treasury

Gold is trading at $1,527.39/oz, €1,070.50/oz and £944.70/oz. Gold has given up much of yesterday’s modest gains and is marginally lower in all currencies except the Swiss franc. The euro has stabilized despite continuing contagion concerns and an existential threat to the euro currency itself.  Cross Currency Rates

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Eurozone Central Banks Net Buyers of Gold in 2011 for First Time Since Inception of Euro – Global Central Bank Gold Demand …

Gold is trading at $1,530.10/oz, €1,085.49/oz and £950.31/oz.  Gold is higher in Euros but mixed in other currencies this morning as the euro continues to weaken on sovereign debt and contagion risk. The euro has fallen against all currencies in recent days but especially against gold with euro gold having risen from below €1,050/oz on Tuesday to over €1,083/oz today. Sterling gold has risen to close to record highs at £950.81/oz after retail sales slumped on fuel and job fears.

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Contagion Risk Increases – Euro Falls as Moody’s May Cut Rating on 3 Large French Banks Exposed to Greece

Gold is trading at $1,519.33/oz, €1,062.32/oz and £934.40/oz.  The euro has fallen on international markets as the European sovereign debt crisis is deepening and appears to be reaching a dangerous denouement. European stock markets are also weaker due to serious divisions in Greece and in the EU as to how to resolve the Eurozone debt crisis and prevent contagion. 

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Gold Robust Over $1,500 as Stagflation Deepens and Greek Default Risks Eurozone Break Up and Financial Contagion

Gold is trading at $1,517.80/oz, €1,051.33/oz and £925.09/oz.  Gold is tentatively higher this morning with the British pound, yen, Swiss franc and dollar showing weakness. Greek German 10 year bond yields have surged to euro era record highs and the Greek 10 year bond has surged to a new record high of 17.146%. The euro has remained remarkably stable, so far, but euro gold at €1,052/oz remains near (3.4%) record highs of €1,088/oz.

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Sterling and Euro Fall on Economic Concerns – Gold Rises to Record £950.81 British Pounds an Ounce

Gold is trading at $1,540.44/oz, €1,065.02/oz and £944.82/oz.  Gold has risen to new record nominal highs in British pounds and is consolidating just below recent record nominal highs in U.S. dollars, euros and other currencies. The ECB’s rate decision and Trichet’s ‘signals’ saw the euro fall sharply against the dollar and against gold with gold in euro terms quickly rising from €1,050/oz to over €1,065/oz. 

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‘Worst Ever’ OPEC Meeting Sees Oil Rise Sharply – Inflation Pressures, Growth and Sovereign Debt Concerns Support Bullion

Gold is trading at $1,535.65/oz, €1,050.59/oz and £935.09/oz.

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Moody’s Warns UK’s AAA Rating at Risk – Sterling Lower and Remains Near Record Nominal Gold High

Gold and silver are lower today despite European equities falling for a sixth day on sovereign debt and economic growth concerns. Bernanke’s failure to even suggest that the Federal Reserve will embark on further stimulus and QE3, after QE1 and QE2 failed to kick start the US economy, has markets jittery. Cross Currency Rates

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Gold Just 2% from Record Nominal High of $1,577/oz – Targets $1,600/oz and New Highs on Deepening Economic Risks

Gold is trading at $1,549.95/oz, €1,056.47/oz and £943.02/oz.  Gold and silver are higher again today with the U.S. dollar and yen in particular under pressure as concerns about the outlook for growth in Japan, the UK, the EU and the U.S. deepen. Gold reached new record nominal highs in sterling yesterday at £949.83/oz on concerns about the UK economy. The risk of contagion in the Eurozone remains and could see the single European currency project unravel which would negatively impact on the global financial and monetary system.

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Gold’s Summer Doldrums Normally See Weakness but Fundamentals Could Lead to Surge

Gold is trading at $1,530.01/oz, €1,054.70/oz and £936.08/oz.  Gold and silver are lower again today in most currencies after yesterday’s falls. Gold has risen marginally in British pounds (GBP 938.41/oz) as sterling is lower (see cross currency table) with the weak services sector PMI data highlighting the weak U.K. economy and increasing risk of stagflation.

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COMEX Registered Silver Bullion Inventories Fall Sharp 38.5% in Two Weeks – Risk of COMEX Silver Default Remains

Spot gold and silver prices rose slightly again this morning after hitting a one-month high yesterday as equity markets internationally came under selling pressure. The Moody's downgrade of Greece and worryingly poor US economic data again pushed investors to seek the safe haven of bullion. Gold reached new record nominal highs in sterling yesterday (£945.62/oz) as the pound fell on concerns about the UK economy. 

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Silver Eagles Sales Through May Best Since 1986 and Turkish Silver Bullion Imports Surge

 

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Dollar and Yen Fall – Moody’s Warns of Japan Downgrade & UN Warn of Risk of “Collapse” of Dollar

Gold has fallen against the euro and most currencies but is 0.2% higher in U.S. dollars and nearly 1% higher in yen terms as the American and Japanese currencies have come under selling pressure. Gold remains near record nominal highs in all major currencies which shows that markets are concerned about inflation and concerns about the future of major currencies. 

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EU Debt Contamination Deepens in Greece, Portugal and Ireland – Gold Just 2% From Record Nominal High

Gold and silver are flat in US dollars but higher in euros this morning. Trade is thin with the UK and US markets closed for spring holidays. Gold and silver were 1.75% and 8% higher last week and the precious metals and especially gold appear to be on solid footing due to the continuing debt crisis in Europe and concerns about a slowdown in the US and global economy. 

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U.S. at Risk of Default as Cost to Insure U.S. “Ponzi Scheme” Against Default Rises Sharply

Gold and silver are lower today with profit taking, Chinese bond buying and increased risk appetite being cited for the price falls. Gold is marginally lower in all currencies and is 0.2% lower in U.S. dollar terms despite the dollar coming under selling pressure again this morning. Risky assets have recovered somewhat from recent losses with Asian and European equities and commodities receiving a bid. 

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Euro and Global Debt Contagion Concerns Mount – Gold’s New Record Nominal Highs in Euros and Pounds

Europe’s debt crisis has seen gold prices climb to new record highs in euros and British pounds at EUR 1,087.80/oz and GBP 944.93/oz respectively. Contagion concerns are mounting due to the failure of the ECB, the IMF and respective governments to tackle the sovereign debt crisis. 

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