GoldCore News

Gold Investments Market Update – Gold Set to Surge Past Record Nominal High Over $1,000/oz Again on Very Significant International Demand

After another strong week last week (both gold and silver were up some 3%) despite falling stock markets, gold continues its outperformance of other asset classes due to safe haven demand.

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Quantitative easing: Classic case of treating the symptom and not the patient

The answer to this global credit debacle is transparency. There are enormous sums of investor money waiting in the sidelines. The reason they have not been invested yet is due to a lack of transparency within the balance sheets of those institutions that constitute the global financial landscape. Make no mistake; capital needs to be deployed in order to create a return. With such uncertainty surrounding the global capital markets it is entirely normal that investors would pull back until a sense of clarity itself develops.

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Gold Investments Market Update – US, UK Credit Ratings Look Set to Be Downgraded

Gold rose again yesterday, briefly rising above $950/oz and was up 0.6% on the day. Determined selling on the open in Asia saw gold fall and profit taking has seen gold fall in Asia and in early trading in London. This is to be expected as gold had risen by more than 15% in less than a month.

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Gold Investments Market Update – Gold to Reach $5000/oz According to Respected Goldcorp Founder

Gold surged a further 3.3% yesterday to $942.45 (as did silver) as worries about the US and global financial system and economy continue to grow and governments print money on an unprecedented scale to combat the economic crisis.

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Gold Investments Market Update – Chinese Nervous about U.S. to Diversify into Gold with Massive $1.95 Trillion Foreign Reserves

Gold surged yesterday (up 2.4% and silver was up 2.3%) as stock markets fell sharply with investors increasingly frustrated and nervous with the lack of details about the US government's latest $2,000 billion bank bailout plan. There is resistance at $930/oz and further consolidation may be necessary at these levels prior to closing above this level but gold is looking very strong both technically and fundamentally.

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Gold Investments Market Update – Is FT’s Lex Right to Favour Platinum Over Gold?

Profit taking saw gold fall yesterday but continuing very robust demand for physical bullion and gold ETF’s for safe haven purposes means that this is likely another period of consolidation. There is a dawning realization that we are in the early stages of a severe global recession and possibly even a global depression. In this uncertain climate for the global financial system and the global economy itself, risk aversion is set to remain elevated and thus demand for physical gold bullion will also remain elevated.

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Gold Investments Market Update – Silver Surges but Remains Undervalued Vis-à-Vis Gold

Gold fell some 1.5% last week as investors took profits with gold having been up some 10% in the previous three 3 weeks. But the short and medium term prospects look sound in the light of strong fundamentals and some important indicators – silver was up by another 4.2% last week and the gold mining indices were also higher (XAU +4.6% and HUI +2.3%). The mining indices are often a leading indicator and silver usually underperforms gold in the early stages of rallies and outperforms in the latter.

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Gold Investments Market Update – Money Printing and Debasement on an Unprecedented Scale While Gold Mining Supply is Falling Significantly

Gold remains firm as there is increasing nervousness about the global economy and indeed nervousness about the global monetary system and this is leading to continuing strong investment demand. Gold remains at or near record highs in nearly all major currencies ($914.00 £622.11 €713.06) and looks set to regain its nominal record high of $1,030/oz in the coming weeks. UBS joined Goldman Sachs and Merrill Lynch in drastically increasing their gold price forecasts yesterday.

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The Financial Times: The charges laid against us

The following is an excerpt from John Kay's new book 'The Long and the Short of It: Finance and Investment for Normally Intelligent People who are not in the Industry’ as published in the Financial Times Personal Finance section: ...

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Gold Investments Market Update – Goldman Sachs Sees Gold at $1,000/oz in 3 Months

With stock and bond markets under renewed pressure, gold remains very well bid and is up some 0.6% in early trading in Europe. Goldman Sachs have increased their forecast for gold from the previously very low $700/oz to over $1,000/oz in the next three months due to “rising investor demand for safe haven assets”.

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Gold Investments Market Update – European Central Bank (ECB) Members Increased their Gold Holdings in January – Physical Demand for Gold Remains High

Gold has recovered somewhat from the 1.5% loss yesterday to close at $890.60 (as did silver which was down 0.6%) and rose 1% in after hours and is trading at just below $900/oz in late morning trading in Europe. While stock markets have had a relief rally on a return of risk appetite, the US bond market was again under pressure as was the dollar.

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Gold Investments Market Update – As January Goes So Goes 2009?

Gold continues to consolidate near recent highs despite profit taking falls.

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Gold Investments Market Update – Gold Surges – Federal Reserve Balance Sheet Explodes

Gold rose by just over 1% yesterday to over $900/oz as renewed risk aversion saw stock and bond markets come under pressure. Gold subsequently traded sideways in Asia prior to another strong rally at 0800 GMT when gold surged from $901/oz to $926/oz in the hour. It has since given up some of those gains but remains above $920/oz. Demand remains very high internationally for ETFs, gold certificates and bullion coins and bars.

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Global recession – where did all the money go?

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Commodity ETFs –do they make sense for retail investors?

Retail investors may be considering making investments into commodities through Exchange Traded Funds (ETFs) yet in our experience, they may lack a full understanding of the potential hidden costs associated with these investment vehicles.

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Gold Investments Market Update – Gold Reserves Should Not Be Sold by German Central Bank – German Finance Minister

Gold traded sideways in Asia overnight but has fallen in early European trading. Increasing risk appetite has seen equities rally again and this is likely leading to profit taking in the gold market. With gold having increased by some $100, more than 12% in less than 10 trading days and some will be taking profits. The market may look for guidance from the FOMC rate decision and OTC option expiry later today. The outcome of the FOMC policy meeting takes centre stage today and the committee is widely expected to leave rates unchanged at 0-0.25%.

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Gold Investments Market Update – Gold Rising Due to Macroeconomic, Financial and Counterparty Risk

After last week's strong gains, gold continued to surge in all currencies yesterday reaching new record highs in euro and pounds sterling. Prices remained firm in early trading in Asia prior to giving up some of yesterday's gains. The convincing technical close well above previous resistance should see gold (and silver) soon embark on the next leg up in their secular bull markets. Resistance for gold was at $880/oz and this may well become support.

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Gold Investments Market Update – Gold Surges 6% in USD in Week; New Record Highs in GBP (over 655/oz) and EUR (over 700/oz) This

Gold has consolidated on the strong gains seen last week of 6.43% rise in the week (silver +6.6%). Gold fell initially in Asia to $890/oz before rising sharply in early trading in Europe to over $907/oz. Much of the technical damage done in recent weeks has been overcome and gold is again looking bullish from a technical and fundamental viewpoint. But it needs a daily or better a weekly close above the recent October high of $925/oz if it is to again surpass last year's record high of over $1,000/oz.

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Gold Investments Market Update – Spectre of Weimar Germany and Hyperinflation Raises Ugly Head

Gold fell slightly yesterday consolidating on the sharp gains of the inauguration day. Gold rose some $10.00 to $865.00 by early trade in London before falling in Europe and early trading in the US, but it then rallied back higher in afternoon trade and ended with a loss of just 0.40%. Silver traded similarly but as has been the case recently, outperformed gold by rising over 1%. Markets await US data today including Building Permits for December, Housing Starts and Initial Jobless Claims which are not expected to cheer the markets and should lead to further safe haven demand for gold.

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Gold Investments Market Update – Gold Surges to New Record Highs in British Pounds

Gold rose strongly on the inauguration of the 44th President, President Obama, yesterday - rising some 2% in dollar terms. It subsequently gave up some of those gains in Asia prior to rallying again in early European trading to over $860/oz. And gold’s strength came despite a very strong dollar yesterday. Importantly, this meant that gold surged in euro and to new record highs in British pounds at £624.85/oz This morning’s London AM fix (21/01/09) was $860.50 (USD), £624.59 (GBP) and €666.02 (EUR).

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