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.
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
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.
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.
Gold is trading at $1,544.39/oz, €1,076.08/oz and £954.27/oz.
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.
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
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.
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.
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.
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.
Gold is trading at $1,535.65/oz, €1,050.59/oz and £935.09/oz.
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