Spot for immediate delivery rose to $1,903.00/oz as the dollar and all currencies fell against gold in early European trading. Risk aversion has returned due to concerns about the US and global economy and Eurozone contagion. Gold is trading at USD 1,890.50, EUR 1,339.10, GBP 1,171.30, CHF 1,486.50 and JPY 145,350 per ounce.
Gold and the Swiss franc are higher today as risk aversion has returned with global stock markets falling on concerns the US employment figure later today will disappoint and confirm that the US economy continues to weaken. Gold is trading at USD 1,853.50, EUR 1,300.10, GBP 1,143.30, CHF 1,446.50 and JPY 142,320 per ounce.
Review of Precious Metals, Equities, Commodities, Bonds and Currencies August was a very turbulent month for markets with equities falling sharply and commodities mixed on Eurozone and United States sovereign debt concerns and concerns about the health of the U.S. and global economy. For many markets, Augusts’ savage sell-off has been the worst since the October following Lehman Brothers’ implosion and investors diversified into havens such as high credit government bonds and gold.
Gold and silver have fallen after yesterday’s gains due to the very poor consumer confidence data and Federal Reserve murmurings of further monetary easing. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce. While silver is trading at USD 41.21, EUR 28.53 , GBP 25.31, CHF 33.33 and JPY 3,155 per ounce.
Gold is higher against most currencies and especially the euro. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce. Gold’s London AM fix this morning was USD 1,791.00, EUR 1,243.49, GBP 1,097.56 per ounce. Gold fixed marginally higher than last Friday’s AM Fix which was at USD 1,787.00, EUR 1237.10, GBP 1,094.17 per ounce which suggests physical demand is supportive at the $1,800 level.
Gold has fallen in U.S. dollars and in most currencies but is higher in Swiss francs due to concerns of fees on Swiss franc deposits. Asian (except for China’s CSI300) and European equities are higher as investors judge the recent sell off as excessive. Risk appetite has risen on hopes that the U.S. and global slowdown will not be sharp. Gold is trading at USD 1,818.80, EUR 1,254.10, GBP 1,110.90, CHF 1,482.50 and JPY 139,340 per ounce.
Gold is higher in most currencies but especially in dollars and Swiss francs. The dollar and European equities are lower due to nervousness prior to Bernanke’s speech at Jackson Hole. Expectations are waning that Federal Reserve Chairman Bernanke will indicate further quantitative easing measures to prop up the ailing U.S. economy – at least in the short term. Gold is trading at USD 1,790.80, EUR 1,241.10, GBP 1,098.90, CHF 1,422.50 and JPY 137,779 per ounce.
All major currencies have risen against gold again today as the vicious sell off seen on Tuesday and particularly yesterday continued in Asia overnight and in Europe. Gold is trading at USD 1,723.80, EUR 1,192.10, GBP 1,052.90, CHF 1,369.50 and JPY 133,225 per ounce.
All major currencies are lower against gold today with the Japanese downgrade and concerns about global growth taking their toll on Asian stock markets. While European indices have eked out gains, some selling of peripheral European debt has been seen again and yields on German bunds have risen. Cross Currency Table
All major currencies are higher against gold today including the US dollar, despite the dollar falling on international markets. Gold reached new record nominal highs at $1,913.50/oz overnight and profit taking and traders nervous about potential margin increases have led to a 1% fall in dollar terms today. Gold has fallen by more in euro and sterling.
All major currencies have fallen against gold and silver again today with gold reaching new record nominal highs in most fiat currencies including U.S. dollars. Gold reached a new record of $1,894.80/oz - just shy of $1,900/oz. Cross Currency Table
All major currencies have fallen sharply against gold and silver again today with gold reaching new record nominal highs in Canadian and New Zealand dollars, in sterling, in euros and of course in dollars as turmoil continues in global markets. In volatile trade, gold is down 1% from new record highs and is trading at USD 1,860.10, EUR 1,300.40, GBP 1,126.40, CHF 1,470.90, and JPY 142,414 per ounce and has risen some 2% in all currencies. Silver has surged by nearly 3% in all major currencies.
All major currencies have fallen sharply against gold again today but especially the ‘commodity’ fiat currencies of the Australian, New Zealand and Canadian dollar. Swiss francs are also under pressure again today. Gold is trading at 1,808 USD, 1,259.10 EUR, 1,096.40 GBP, 1,436.90 CHF and 138,510 JPY per ounce. The London AM fix was a second consecutive record nominal high in USD. Gold’s London AM fix this morning was USD 1,794.50, EUR 1,246.44, GBP 1,087.12 per ounce (from yesterday’s USD 1,792.00, EUR 1,240.39, GBP 1,089.96 per ounce).
Gold is mixed in various currencies today after French President Nicolas Sarkozy and German Chancellor Angela Merkel unsurprisingly failed to deliver a solution to the euro zone debt crisis. The London AM fix in USD was a new record nominal high. Gold’s London AM fix this morning was USD 1,792.00, EUR 1,240.39, GBP 1,089.96 per ounce (from yesterday’s USD 1,779.00, EUR 1,236.18, GBP 1,086.81 per ounce see LBMA).
All major currencies have fallen against gold today with the euro down 1% against gold on nervousness ahead of the Franco German summit. Gold is trading at USD 1,776.70, EUR 1,235.10, GBP 1,084.10, CHF 1,389.90 per ounce and 136,450 JPY/oz. Gold’s London AM fix this morning was USD 1,779.00, EUR 1,236.18, GBP 1,086.81 per ounce.
Gold has fallen today in all major currencies except the Swiss franc which has fallen sharply again on continued talk of SNB intervention. Gold is trading at USD 1,742.70, EUR 1,220.10, GBP 1,068.70, CHF 1,375.60 per ounce and 133,820 JPY/oz. Gold’s London AM fix this morning was USD 1,738.00/oz, EUR 1,214.11/oz, GBP 1,065.88/oz.
Gold has fallen today in all major currencies except the Swiss franc which has fallen on continued speculation of pegging the Swiss franc to the euro. Gold is trading at USD 1,754.30, EUR 1,232.10, GBP 1,078.70, CHF 1,349.30 per ounce and 134,357.00 JPY/oz. Gold is 5.1% higher in dollars week to date and 6% higher in euros and 6.6% higher in pounds or to put it correctly these currencies have fallen in value against gold.
Gold has fallen today in all major currencies except the Swiss franc which has fallen on SNB intervention rumours. Gold is trading at USD 1,791.40, EUR 1,257.10, GBP 1,107.70, CHF 1,318.80 per ounce and 136,976.00 JPY/oz. The yen has fallen by 8.7% against gold so far in August as the yen, while rising in dollar terms, is falling sharply in gold terms (see chart below).
Gold prices held their ground late into trading Tuesday, even in the face of a surge in US equities. Buoyed by a US Federal Reserve pledge to maintain a low interest rate policy until mid 2013, the Dow rose 612 points (5.7%) in the final 90 minutes of trading. Gold held its ground and today is showing signs of strength, trading at $1,756.30/oz up $13.30/oz. Gold in EUR and GBP is trading at 1,224.16/oz and 1,082.26/oz.
Gold in USD terms is 2.4% higher and is higher against all currencies and trading at USD 1,760.40 , EUR 1,234.10, GBP 1,075.70, CHF 1,306.80 per ounce and 132,719.00 JPY. Gold’s London AM fix was USD 1,770.00, EUR 1,241.75, GBP 1,080.98. Gold reached new record nominal highs at $1,780.10/oz and new nominal highs in euros and sterling also this morning.
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