GoldCore Update: Gold closes in on $1,100 as market waits for US Employment Report

November 6, 2009

Gold held firm overnight and traded between $1,088 and 1,090 which was higher than the previous night’s trading. On the back of last night’s performance has shifted upwards this morning and is currently trading at $1,095 /oz. In EURO and GBP Terms Gold is trading at €735/oz and £659/oz respectively.

$1,100 still waits to be breached in the short term and is proving to be a strong resistance point as the week’s trading comes to a close. The markets will focus on the Employment Report from the US this afternoon to give the market direction and be the possible catalyst to push gold through $1,100.

SILVER

Silver is currently trading at $17.55/oz, €11.76/oz and £10.56.

PGM’s

Platinum is trading at $1,361/oz and Rhodium at $2,000. Palladium is currently trading at $333/oz.

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Stephen Flood

Stephen Flood is the CEO of GoldCore. He is a former Wall Street equity trader and FinTech expert. He has been involved in the precious metals markets since 2004 and has appeared as an expert contributor on CNBC, CNN, BBC, RTE & Bloomberg TV and has had articles published in the Irish Times, Irish Independent and The Sunday Business Post.

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