Precious Metals Update Archives - Page 26 of 37 - GoldCore News

GoldCore Update: Gold in Euros in Correction – New Record Highs in Euros Likely

Gold Gold continues to consolidate above the $1,200/oz level and traded in a range between $1,207/oz and $1,215/oz overnight in Asia. Gold has risen slightly in European trade as the dollar has come under pressure. The poor retail sales have created concerns about the health of the US consumer and the other poor recent data on jobs and trade and budget deficits may see the dollar come under pressure again. Support for gold is at $1,195/oz and resistance is at $1,217.90/oz.

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Gold in Euros in Correction – New Record Highs in Euros Likely

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Gold Options at $2,000/oz Surge By More Than 1,000% in 10 Weeks

Gold Gold rose 1.26% yesterday after the Portuguese debt downgrade; silver rose 2%. Gold has gradually edged up in Asian and early European trade. It may challenge resistance at yesterday's high of $1,217.90/oz but if it falls below the recent trading range of $1,210/oz to $1,215/oz it could quickly fall to short term support of $1,195/oz and $1,190/oz. Gold is currently trading at $1,213/oz and in euro, GBP, CHF, and JPY terms, at €955/oz, £795/oz, CHF 1,284/oz, JPY 107,498/oz respectively.

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Gold Higher on Portuguese Downgrade and Lingering Concerns of Contagion

Gold Gold spiked higher today in all currencies as Portugal's downgrading and prices below $1,200/oz led to buying. The euro fell against both the dollar and gold (from €954 to €960 per ounce - see chart) on Moody's two-notch downgrade of Portugal. The downgrade was expected but it has ignited concerns that the European sovereign debt markets remain vulnerable, leading to continuing safe haven demand for gold. Lingering concerns over the European bank stress tests and the European banking system are also supportive.

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Markets Await Inflation Figures from Eurozone, UK, US and China

Gold Gold is lower in Asian and early European trading on low volume as the dollar has risen and renewed risk appetite has resulted in tentative gains in equity markets. Gold's marginally higher weekly close last week was positive from a technical point of view and could lead to follow through this week as momentum following traders and funds "make the trend their friend". Gold is currently trading at $1,207/oz and in euro, GBP, CHF, and JPY terms, at €960/oz, £804/oz, CHF 1,284/oz, JPY 106,825/oz respectively.

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Gold to be Supported by Massive Fiscal Challenges Facing the US and Western Economies

Gold Gold fell $2.50 to $1195.30/oz yesterday and is now down 1% on the week. It traded sideways in Asia and down in early European trading. Another lower weekly close will again be bearish technically and would suggest that further retrenchment and consolidation may take place. A higher close today and on the week would help reverse the technical damage done recently. Gold is currently trading at $1,197/oz and in euro, GBP, CHF, and JPY terms, at €944/oz, £788/oz, CHF 1,261/oz, JPY 105,998/oz respectively.

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Gold to be Supported by Negative Real Interest Rates

Gold Gold fell to an inter day six week low yesterday of $1,184.75/oz yesterday before a strong rebound which saw it close higher on the day at $1,197.80/oz. It rose above $1200/oz in Asian trade to $1,207.75/oz prior to giving up some of those gains in early European trade. Many traders and investors who have nee on the sideline in recent weeks see the present sell off as a buying opportunity. Gold is currently trading at $1,200/oz and in euro, GBP, CHF, and JPY terms, at €948/oz, £792/oz, CHF 1,263/oz, JPY 105,665/oz respectively.

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346 Tonne Gold Swap with BIS is Positive for Gold

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Gold Consolidates Tentatively Above $1,200/oz on Asian Demand

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Spectre of Double Dip Recession to Support Gold

Gold Gold has had a quite start  to the week trading in a tight range between $1,210/oz and $1,215/oz so far in Asian and early European trading. With the US out for the Independence Day holiday it looks set to be a quite day although low volumes could result in volatility. A close below $1,200/oz could see gold fall to support at $1.185/oz and strong support at $1,165/oz. Gold is currently trading at $1,210/oz and in euro, GBP, CHF, and JPY terms, at €966/oz, £800/oz, CHF 1,285/oz, JPY 106,249/oz respectively.

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Gold Suffers Sharp Correction on Fund Liquidation and Proft Taking

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2010 YTD Gold Up 13% in USD, 19% in GBP and 24% in EUR

Gold Gold rose again yesterday in dollars and other currencies, especially sterling which fell against nearly all currencies (see chart below). Gold is currently trading at $1,244/oz and in Euro, GBP, CHF, and JPY terms, gold is trading at €1,008/oz, £830/oz, CHF 1,328/oz, JPY 109,574/oz respectively.

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Gold Consolidates Near Record Highs Up 12% in Quarter; Silver Up 6%

Gold Risk aversion led to falls in equity and commodity markets yesterday but gold again managed to eke out a 0.5% gain. The complacency of recent months is being challenged by a raft of negative data and by increasingly precarious fundamentals. Concerns about Chinese and global economic growth and about the European banking system and sovereign debt are leading to continuing diversification into gold.

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Short Squeeze in Coffee and Sugar Could Soon be Seen in Gold and Silver Market

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Gold Robust as Equities Fall – Concerns on US Recovery and Sovereign Default Risk

Gold Gold's slight gains and resilience yesterday has surprised the bears who were expecting further falls. The downside reversal pattern seen on Monday may not have incurred as much technical damage as thought - especially if gold can manage to eke out a higher weekly close this week - above $1255/oz.

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Gold at New Record Nominal Highs on Continued Skepticism

Gold Gold rose to a new all-time intraday high of $1265.07/oz in early European trading and then gave up its earlier gains in London yesterday. Gold came under concerted selling pressure in New York and fell in the final hours of trade ending near its late session low of $1237.83/oz with a loss of 1.40%. It has range traded in Asian and early European trading today.

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Central Banks Diversifying into Gold – Bolstering Meager Gold Holdings

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Gold Flat as Coffee Surges 20% in 6 Days and Oats Surge 40% in Week

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Gold Consolidates in All Currencies While Silver Breaks Out

Gold Gold added 1.1 percent yesterday, the most in a week and is up marginally today and trading within 1.3 percent of its record nominal high of last week. Gold appears to be consolidating above $1,200/oz and a this may be the pause that refreshes prior to new record highs. Gold has also risen in other currencies and is back above €1,000/oz as concerns about sovereign debt issues and economic growth in the eurozone continue.

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Gold in Tight Range as Silver Outperforms

Gold Gold fell $5.40 in US trading yesterday to close at $1,222.70/oz and fell to €999.00/oz as the euro strengthened against the dollar. Gold has traded in a very tight range between $1,220/oz and $1,225/oz in Asian and early European trading. Silver rose yesterday and has is outperforming gold again today. Gold is currently trading at $1,222/oz and in euro, GBP, CHF, and JPY terms, trading at €997/oz, £827/oz, CHF 1,394/oz, JPY 111,635/oz respectively.

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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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