Precious Metals Update Archives - Page 25 of 37 - GoldCore News

Silver Closes Above $20/oz – Highest Silver Close Since March 2008

Gold The Japanese yen, Swiss franc, gold and particularly silver are stronger this morning as risk aversion has returned as seen in lower European equity markets. The dollar has recovered from earlier weakness and the euro has fallen to 1.284 USD and €976/oz. Oil back above $77 a barrel and rising commodity prices is likely also supporting gold and silver. Gold is currently trading at $1,253.10/oz, €975.55/oz, £812.96/oz.

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Gold Lower on Basel III and Chinese Data Despite Chinese Diversification Talk

Gold Gold and the dollar have fallen as risk appetite has returned due to the Basel III regulations and the positive economic data out of China. The euro in particular has rallied sharply in what would appear to be a relief rally after the recent weakness. Gold and silver fell marginally last week which has clouded the technical picture and could lead to momentum driven weakness this week. However, the medium and long term fundamentals remain sound and should reassert themselves if there is a period of correction and consolidation.

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New Record Nominal High Above $1,265/oz Prevented by Determined Sellers at $1,260/oz Level

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Pounds Falls on UK Trade Deficit, QE2 and Economic Recovery Concerns – Gold Rises to £816/oz

Gold Gold is flat in dollars but higher in euros, Swiss francs and particularly British pounds this morning (see Cross Currency Table). Jitters about European sovereign debt markets is keeping gold above $1,250/oz  and near record highs of $1,265/oz. The complacency of recent weeks is giving way to the gradual realisation that the worst may not be over yet, in terms of the global financial crisis and this could lead to a challenge of $1,300/oz in the short term rather than the long term.

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European Bond Spreads Widen Again – Gold Strong in All Currencies and is Whisker from New Intra Day Record in US Dollars

Gold Gold rose again yesterday and had a new record daily high close (nominal) as renewed concerns about European banks and sovereigns led to a flight to the relative safety of US Treasuries, German bunds, the yen and the Swiss franc. Gold also rose in yen and Swiss franc terms yesterday showing that it is increasingly trading as a currency rather than a commodity. Gold surged in the euro and is again challenging the €1,000/oz level. Gold is currently trading at $1,258.10/oz, €991.64/oz, £814.73/oz.

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Gold Up 1% and Silver Up 4% Last Week – Maintain Upward Momentum and Challenge Resistance

Gold Last week's early September relief rally continued this morning as equities have risen again in Asia and Europe. Gold is one of the strongest currencies in the world this morning, along with the yen. While the dollar is flat, sterling has fallen sharply against all currencies on UK economy concerns and gold in sterling terms has risen from £806/oz to £811.20/oz (see Cross Currency Table).

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Monthly Markets Review: Risk Aversion Rises in August as Double Dip Concerns Grow

August and the summer are now over and investors and savers are now focusing on the autumnal months ahead. Stocks internationally had their worst August performance since 2001 and the ISEQ fell 7.2% in the month. Mounting concerns about the health of the economic recovery in Ireland, the US and internationally saw investors move into government bonds and gold. Some respite came due to the falling price of oil - oil was down 8.9%, its first monthly decline since May.

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Precious Metals Challenge Resistance Levels as Physical Market Remains Tight

Gold Risk appetite increased yesterday as the first day of the new month saw equity buyers return and bond prices fall. Gold and silver prices fell marginally but remained near multi week highs and in gold's case very near the all time record high (nominally). European equity markets are a bit more tentative this morning and the pound and the dollar have come under selling pressure.

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Gold Rises 5.6% in August to Record Monthly High and Near Record Nominal High

Gold After yesterday's 1% rise, gold traded sideways in Asia but has  risen again in early European trading as the dollar has fallen and oil risen after yesterday's sharp falls. Gold has risen in dollars, pounds , yen and Swiss francs which are all weaker today but is slightly weaker against the euro and commodity currencies. Gold was up 5.6% in August thereby regaining the 5% losses seen in July.

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Gold at $1,500/oz Forecast as Analysts Raise Their 2011 Forecasts

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Silver Up 6% Last Week – Gold-Silver Ratio at 65 Sees Value Buyers Accumulating Silver

Gold Markets nervously await data this week including the important monthly jobs number which will likely again underline the risks of a double dip recession. While Asian shares advanced, European shares (London closed for a public holiday) have been more tentative this morning and the US futures are marginally positive. Currencies markets have not seen much movement but yen is stronger again today despite concerns that the government action will not be able to control currency price movements.

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Gold Falls on Positive Jobs Number – Close to Record Nominal Highs at $1,264/oz

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Gold Demand Increases 36% as Investors Increase Allocations to Bullion

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Gold Down For Third Day on Profit Taking, Oil Weakness and Dollar Strength

Gold Gold fell marginally yesterday and has fallen for a third day in a row. Gold's hesitation and weakness is likely due to renewed dollar strength, oil weakness and profit taking after gold's recent sharp rally. Market participants will be nervous about another disappointing report on the housing market later today. Gold is currently trading at $1,215.75/oz, €964.12/oz, £789.19/oz.

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Gold Marginally Lower in USD and Flat in EUR and CHF

Gold Gold traded sideways in Asian trade, hovering near last week's close at $1,228/oz. There was a brief spike to $1,231.35/oz in early European trade prior to sharp and determined selling. Gold remained marginally higher until the London AM fix whereupon there was a further wave of selling which took prices down to $1,225.30/oz. Gold is lower in most currencies except the euro and the Swiss franc which are slightly weaker this morning (see Cross Currency Rates). Gold is currently trading at $1,225.72/oz, €964.91/oz, £788.30/oz.

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Gold and Silver Consolidate after Recent Sharp Gains

Gold Risk aversion remains on as European equity markets have followed their US and Asian counterparts lower after yesterday's poor US economic data. The dollar and yen have rallied today and this is contributing to gold's slight weakness in these currencies this morning. Gold is higher in Canadian dollars, euros and marginally higher in sterling as these currencies have fallen today. Government bond yields continue to fall to record lows with US Treasuries at their lowest yield in 11 months and German Bunds at record low yields.

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Disappointing US Jobs Number Sees Stocks and Dollar Fall While Gold Rises

Gold Gold rose to new 6 week highs at $1,237/oz after the disappointing US jobs number heightened concerns about the health of the US economic recovery. The rise follows yesterday's recovery from initial falls and marginal higher close as safe haven buying trumped an initial bout of profit taking. There is no technical resistance between this price level and the record highs (nominal) seen in June at $1,265/oz and the fundamentals continue to remain sound with safe haven demand remaining quite high - especially for this time of year.

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Gold Has Marginal Falls on Low Volume Trading and Profit Taking

Gold Gold fell to $1,220/oz per ounce in early European trade before bouncing. It is now trading at $1,223/oz and has thus given up some of yesterday's small gains as summer trading volumes remain low and traders book profits after the recent rise in gold prices. Investors remain risk averse as seen in weakness in equity markets and the safe haven bid for German bunds, Japanese yen and US Treasurys (despite the dollar coming under selling pressure).

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Gold Higher on Safe Haven Buying after Poor Jobs Number

Gold Gold has risen (over $1,214/oz) on safe haven buying after the poor jobs number underlined growing concerns about the health of the US and global recovery. Concerns about sovereign debt markets in Europe have seen the euro come under pressure again. Economic uncertainty has not been helped by Fitch warning that the US AAA credit rating may come under pressure in the coming years. Gold is currently trading at $1,213.70/oz, €944.92/oz and £777.76/oz. Silver

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Gold Consolidates Near $1,200 as Economic Concerns Grow

Gold Gold rose yesterday in the intermediate aftermath of the worse than expected US trade deficit figures ($49.9 billion - exports down 1.3%; imports down 3%). Gold has maintained those gains despite weakness in equity markets and in US futures. Risk aversion is back on after the Federal Reserve expressed concerns about the recovery. The pessimistic tone of their communication has led to increased concerns of a double dip recession. In this environment, investors should remain defensive and continue to diversify into gold.

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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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