Precious Metals Update Archives - Page 18 of 37 - GoldCore News

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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Gold in Pounds Rises to New Record High over GBP 944/oz on Stagflation Risk – Moody’s Lists 14 UK Banks for Downgrade Review …

Gold is marginally higher in most currencies today as the yen, the dollar and the pound are all weaker. 

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Eurozone Debt Crisis Deepens Sending Euro Lower and Gold to New Record at EUR 1,080/oz

The euro, global equities and bonds in peripheral Eurozone countries are all lower this morning on heightened concerns about the debt crisis in the Eurozone. The euro has fallen against all currencies and is now at a record low against gold at EUR 1,080.21/oz. Silver is lower against most currencies but is higher against the Australian dollar and the euro ( EUR 24.80/oz).

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China Becomes World’s Largest Gold Buyer – Buys 93.5 Tonnes of Gold Coins/Bars in Q1 – Gold Ownership Rising From Minuscule Lvls

Gold and silver are higher again today with the debt laden dollar, euro and yen all being sold. News that China has become the world’s largest buyer of gold bullion and has seen investment demand double continues to reverberate in the markets and may have contributed to this morning’s strength. 

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Japanese Economy Contracts Very Sharply – Gold in Yen Consolidates Near 120,00 and Record Nominal High of 200,000 Yen Likely

 Gold is lower while silver is higher this morning after yesterday’s 1% and nearly 5% gains respectively. The yen has fallen as markets digest the news that the world’s third largest economy has again fallen into recession after a very sharp contraction in GDP growth in the first quarter. 

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UK and US Data Shows Stagflation Threat Deepening – Asian Gold Demand Remains Very High

Gold and silver have snapped their three day losing streak so far this morning and both are higher in all currencies. Sterling has fallen on this morning’s very poor UK employment data. This in conjunction with yesterday’s high inflation figure in the UK and negative data in the U.S. confirm the increasing threat of stagflation to western economies. 

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Soros Sells Gold ETF While Paulson Buys – PIMCO Favour Gold as a “Protection Against What Can Go Wrong”

Gold and silver are higher today while sterling is stronger and the Japanese yen has again come under pressure. The yen has weakened on deepening concerns about the Japanese economy and the BOJ Governor said that the Japanese economy is in a “very severe state”. Gold is trading at $1,491/oz, £919/oz, €1,055/oz and 121,850 yen per ounce.

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$14.3 Trillion U.S. Debt Ceiling Threatened; Silver Bullion Buying Spree in India After Price Falls

Gold and silver are lower this morning as the recent bout of weakness continues. Equities in Asia were lower on economic growth and inflation concerns and European indices are also lower as Greek debt talks are in disarray after the weekend arrest IMF’s Dominique Strauss-Kahn. Cross Currency Rates

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Gold a Bubble? Steve Forbes, Billionaire Media Magnate, Predicts New Gold Standard Within 5 Years

Gold and silver’s recovery in recent days proved to be temporary and further falls were seen yesterday (sharply in silver) prior to a tentative recovery overnight and then more falls again this morning. The euro has stabilized after recent sharp falls and euro gold at €1,050/oz remains comfortably above €1,000/oz after a period of correction and consolidation. Euro gold looks like it is set to break above record highs of €1,072/oz (12/28/10) and target €1,100/oz as the European debt crisis deepens.

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India, Indonesia, China and Wider Asia Buy Physical Gold and Silver on Dip as Stagflation Threatens

 Gold and silver have extended their recovery and may be headed for the fourth day of gains due to the continuing European sovereign debt crisis, Chinese inflation (+5.3%) and the real risk that rising oil and commodity prices are leading to an international inflation spiral and stagflation.

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Euro Gold Targets Record EUR 1,072/oz on Risk of Forced Greek Default and Euro Zone Debt Contagion

 Gold and silver continue to rebound from their sell offs as Euro zone periphery worries intensify with real risks of defaults and possible contagion. Gold has risen from €1,010/oz to over €1,057/oz since Friday. The long period of correction and consolidation may soon see a break out above resistance at record nominal highs of €1,072/oz - less than 1.5% below the current price.

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China Buying Silver Overnight, Prudent Money Holding and Accumulating Bullion on Dip

Gold and silver are tentatively higher after their 2% and 8% falls yesterday. In silver, speculators on the COMEX continue to liquidate on mass after margin was increased a massive 84% and various stop loss levels are hit, leading to further falls in the futures market.

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Gold steady; U.S. govt shutdown worries investors

Gold and Silver Bullion - News and Commentary Gold steady; U.S. govt shutdown worries investors (Reuters.com) Stocks Mixed, Dollar Flat With Shutdown in Focus (Bloomberg.com) Palladium flows from west to east to meet industry demand (Reuters.com) METALS START THE WEEK ON[...]

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Gold ETF Assets Climb to Highest Since 2013

Gold and Silver Bullion - News and Commentary Gold ETF Assets Climb to Highest Since 2013 (Bloomberg.com) Gold firm as dollar sinks further (Reuters.com) Australia Is Cashing In on Gold ETFs (Bloomberg.com) South Korea now requires verified ID to trade cryptocurrencies[...]

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Central Bank Of Russia Adds A Record 223 Tons Of Gold In 2017

Gold and Silver Bullion - News and Commentary Gold steady on weak dollar; stocks surge as U.S. government shutdown ends (Reuters.com) Asian Stocks Reach Fresh Record High; Oil Climbs (Bloomberg.com) U.S. Stocks Gain as Senate Votes to End Shutdown (Bloomberg.com) Demand[...]

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