GoldCore Precious Metals Update - Gold Falls as Markets Ignore Iranian Geopolitical Threat

GoldCore Precious Metals Update – Gold Falls as Markets Ignore Iranian Geopolitical Threat

September 28, 2009

Gold
A stronger dollar and a bout of profit taking saw gold slip back to the low $980s per ounce in early morning trading. It is currently trading at $989/oz and if it fails to pull itself above $990/oz, it may correct back further to $970/oz before support is found.

Increasing tensions with Iran have not created a geopolitical safe haven bid but these tensions merit watching. The World Bank has warned that the dollar’s place as global reserve currency cannot be taken for granted but this has not seen the dollar weaken rather it has strengthened as riskier assets such as equities have retreated in Asia and in Europe this morning.

Silver
Silver is currently trading at $15.90/oz and seems to have stabilised somewhat after slipping from highs in the mid $17s/oz only last week.

Platinum group metals
Platinum is currently trading at $1,273/oz, palladium is $289/oz and rhodium is at $1,550/$1,700/oz.

Mark OByrne

Also on news-goldcore-com

Videos

Chris Vermeulen on Gold: This Is A Super Cycle At Play

1 day ago

Patrick Karim, Charts and Gold’s Next Breakout

4 weeks ago

Gold Down $100? This Really Shouldn’t Be A Surprise

2 months ago

Blog posts

Chris Vermeulen on Gold: This Is A Super Cycle At Play

1 day ago

When we woke up to see gold had hit an all-time high overnight we knew we needed to take a look at some charts. And who better to do that with than technical analyst Chris Vermuelen of TechnicalTraders.com. GoldCore CEO, Dave Russell took some time this afternoon to speak with Chris about what took the […]

Gold Hits Record High: Is This A New Era?

1 day ago

Overnight gold stunned markets by obliterating resistance levels and rocketing up to a new all-time high of $2,148.99. As well as a new level we might also have seen a new standard in volatility being set as the yellow metal experienced $100 intraday swings. This morning gold has calmed itself down a bit. But make […]

Will The Gold Price Shift As Two Great Titans Leave Us?

5 days ago

For much of November gold has been on a tear and this week investors have sent it way up, punching past $2000. Will these giddy heights of over $2,000 be how gold chooses to see out month-end? At the time of writing we cannot be sure. Yesterday prices did soften ever so slightly but the […]