Gold Investments Market Update

Gold

Gold achieved $882.75 per ounce in NY trading yesterday but failed to keep above the $880 resistance level. Silver touched $16.89 overnight down 11 cents from yesterday’s high of $17.00. The London AM Gold Fix at 1030 GMT this morning was at $878.00, £446.38 and €565.25 (from $863.50, £434.64 €556.74 last Friday).

The range at the moment is between $850 and $880 with a firm break above this leading to higher prices. This trend is supported by the upcoming Indian festival of Akshava Tritiva on the 8th May. It is estimated that as much as 5% of India’s total annual demand (750 tonnes per annum) can be sold during this festival.

Gold seems well supported above previous resistance at the record nominal highs of $850 with physical demand playing an important role in keeping this level.

Today’s Data and Influences

On the economic data front, the schedule is very light today with pending home sales the only contender. The report is expected to highlight the continuing problems in the housing sector and likely to contain downside risks to the dollar.

Silver

Silver is trading at $16.73 per ounce (1200 GMT).

PGMs

Platinum is trading at $1945 per ounce (1200 GMT).
Palladium is trading at $427 per ounce (1200 GMT).

Mark O'Byrne

Also on news-goldcore-com

Videos

New Russia/China Gold Backed Currency Imminent

This Little Known Indicator Says Gold Is Still Set For A Major Rally In 2022

David Hunter Stock Market Prediction – DOW 45,000 In 2022

Blog posts

Central Banks…Why Bother?

Central banks…why bother? Inflation is here and it cannot be contained. US inflation is touching a 40-year high, the UK has hit the 40-year high, and the EU’s has already hit an all-time high. Figures of 8%, 9%, and 7% respectively are bad enough. This gives people strong enough reason to want to abolish central […]

READ MORE

New Russia/China Gold Backed Currency Imminent

We were delighted to welcome Simon Hunt to GoldCore TV this week. David Russell interviewed the expert economist and global observer to ask him about the Russia-Ukraine war, central bank tightening, and the future of the US Dollar hegemony. This is a sobering interview where investors will be interested to hear his take on market […]

READ MORE

Is Gold Starting to Behave Itself?

Gold is doing what it is supposed to do!  Equity markets are tumbling, “NASDAQ 100 Rout Erases $1.5 Trillion in Market Value in 3 Days” reads one Bloomberg headline. The big names such as Apple lost over US$225 billion, Microsoft almost US$200 billion, Amazon and Tesla each lost US$175 billion market value over the three […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

New Russia/China Gold Backed Currency Imminent

This Little Known Indicator Says Gold Is Still Set For A Major Rally In 2022

David Hunter Stock Market Prediction – DOW 45,000 In 2022

Blog posts

Central Banks…Why Bother?

Central banks…why bother? Inflation is here and it cannot be contained. US inflation is touching a 40-year high, the UK has hit the 40-year high, and the EU’s has already hit an all-time high. Figures of 8%, 9%, and 7% respectively are bad enough. This gives people strong enough reason to want to abolish central […]

READ MORE

New Russia/China Gold Backed Currency Imminent

We were delighted to welcome Simon Hunt to GoldCore TV this week. David Russell interviewed the expert economist and global observer to ask him about the Russia-Ukraine war, central bank tightening, and the future of the US Dollar hegemony. This is a sobering interview where investors will be interested to hear his take on market […]

READ MORE

Is Gold Starting to Behave Itself?

Gold is doing what it is supposed to do!  Equity markets are tumbling, “NASDAQ 100 Rout Erases $1.5 Trillion in Market Value in 3 Days” reads one Bloomberg headline. The big names such as Apple lost over US$225 billion, Microsoft almost US$200 billion, Amazon and Tesla each lost US$175 billion market value over the three […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE