GoldCore Update: Gold at $1,100 - Dollar Demise, Quantitative Easing, Inflation Pressures, Take Your Pick!

GoldCore Update: Gold at $1,100 – Dollar Demise, Quantitative Easing, Inflation Pressures, Take Your Pick!

November 9, 2009

Gold
Gold has experienced yet another strong opening this morning and ventures deeper into unchartered territory. Currently trading at $1,109/oz – $14 higher than its closing last Friday – at this price gold sets a new all time high in USD terms. In EUR and GBP terms gold is trading at €739/oz and £658/oz respectively.

Gold’s move higher is indicative of continuing and deep routed concerns over the future of the dollar as the world’s reserve currency. World dollar holders from Asian Central Bankers to global pension fund managers are struggling to quantify a future without a stable reserve currency. Gold prices are an excellent measure of global macroeconomic risk. The ultimate cost of quantitative easing and building inflation pressures may well dampen any near term recovery projections.

Silver
Silver is currently trading at $17.72/oz, €11.82/oz and £10.71/oz.

Platinum Group Metals
Platinum is trading at $1,360/oz and rhodium at $2,025/oz. Palladium is currently trading at $333/oz.

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Mark OByrne

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Blog posts

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

2 days 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?

2 days 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?

6 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 […]