GoldCore News

Gold Investments Market Update – Sir John Major Says Government Inflation is Massively Underestimated – Real Inflation of Some 10%

Gold Gold finished trading in New York yesterday at $972.10, up $12.00 and silver was up to $19.15, up 38 cents. Gold rose in trading in Asia before further rises in early European trading. Gold is now up some 7% in the last 5 trading days (from below $920 to over $983) and in normal circumstances one would expect a correction and consolidation. However, these are not normal circumstances. Gold has rallied again on dollar weakness, oil strength and safe haven demand due to macroeconomic and systemic risk.

READ MORE

Gold Investments Market Update – Trillion Dollar Bailouts Will Likely Cripple U.S. Budget and Imperil the Dollar

Gold Gold finished trading in New York on Friday at $959.10, up $18.90 and silver was up to $18.72, up 48 cents. Gold rose in trading in Asia before selling off in early European trading on profit taking due to falling oil prices and a rising dollar this morning. Both gold and silver were up nearly 3% last week on inflation hedging and safe haven buying and profit taking is to be expected. Gold and silver were up nearly 3% for the week and yet the dollar was only down some 1% and oil was essentially flat after a very volatile week.

READ MORE

Gold Investments Market Update – Fannie, Freddie ‘Insolvent’ and Lehman Brothers May be Next Bear Stearns

Gold Gold finished trading in New York yesterday at $940.20, up $13.90 and silver was up to $18.24, up 17 cents. Gold rose again in the New York Globex electronic market before trading sideways in trading in Asia and it has risen sharply again in early European trading to above $950 per ounce. Gold continues to rally on the surging oil price (which is back near record highs), surging commodities and renewed weakness in the dollar. Not to mention safe haven buying on geopolitical risk in Iran. Oil is up nearly 2% again this morning after yesterday's nearly 4% surge.

READ MORE

Gold Investments Market Update – S&P 500 Real Return in 10 Years is Less Than Zero

Gold Gold finished trading in New York yesterday at $926.30, up $5.40 and silver was up to $18.07, up 23 cents. Gold rose again in the New York Globex electronic market and in early trading in Asia and has remained firm in early European trading. With geopolitical risk remaining high and financial risk elevated (as seen with U.S.

READ MORE

Some quotes need no further comment

The biggest disappointment of my time at the FSA has been the failure of firms, and particularly their senior management, to learn the lessons of past mis-selling. Sadly, the recent history of the British retail financial services industry is proof of the adage that those who fail to understand the mistakes of the past are condemned to repeat them.

READ MORE

Gold Investments Market Update – Gold to Rise to £1,800 (GBP) Per Ounce

Gold Gold finished trading in New York yesterday at $920.90, down $5 and silver fell to $17.84, down 1 cents. Gold again traded down in the New York Globex electronic market and in early trading in Asia prior to rallying in late trading in Asia and and early European trading back above its opening price in New York yesterday. Gold is up so far today after Iranian state media reported that the country had test-fired missiles that could reach Israeli and U.S. bases in the region.

READ MORE

Gold Investments Market Update – Real and Genuine Concerns of Another Bear Stearns and Growing Systemic Risk

Gold Gold finished trading in New York yesterday at $925.90, down $6 and silver fell to $17.85, down 43 cents. Gold then sold off somewhat in the New York Globex electronic market before rising again in Asian and early European trading to over $930 per ounce. A lessening likelihood of a military confrontation with Iran contributed to the fall in oil and gold's slight sell off. However, risk aversion is reasserting itself with the ominous news regarding the U.S. financial sector.

READ MORE

Gold Investments Market Update

Gold Gold finished last week at $932.50 and was up $7.35 for the week. It has subsequently fallen in Asian and early European trading to below $921 per ounce. While the dollar is marginally higher, oil has fallen quite sharply <$142.40 down nearly 2% - Light Sweet Crude Oil Future - Combined - AUG08> and this has seen profit taking by gold traders. Traders appear to have had stop loss orders at and just below $930 which exacerbated the move down.

READ MORE

Gold Investments Market Update – US Jobs Report Less than Expected; Based on BLS Statistical Assumptions

Gold Gold was down $12.90 to $931.90 in New York yesterday and silver closed at $18.28, down 5 cents. Gold remained at these levels in Asia but has fallen near to yesterday’s lows in early trading in Europe. Oil has fallen marginally <$144.40 down 0.6% - Light Sweet Crude Oil Future - Combined - AUG08> and the dollar is flat after yesterday’s strong gains. Yesterday gold was sold extremely aggressively immediately after the U.S. jobs report was released at 1330 GMT.

READ MORE

Gold Investments Market Update – ECB Increases Rates as Trichet Warns of ‘Exploding’ Inflation

Gold Gold rose to $944.80 in New York yesterday and was up $2.00; silver closed at $18.33, up 13 cents. Gold has remained firm near 10 week highs on the surging oil price which reached a new record high today <$145.72 - Light Sweet Crude Oil Future - Combined - AUG08>. The dollar is flat today after its decline in value in recent days. Against the euro, the dollar looks set to fall through support at 1.60 in the coming days and 1.70 euro/dollar looks like a very real possibility by the end of September.

READ MORE

Gold Investments Market Update – Geopolitical Risk From U.S. and Israel Militarily Confronting Iran is Real

Gold Gold surged to $942.80 in New York yesterday and was up $16.30 and silver closed at $18.20, up 78 cents. Gold has succumbed to profit taking with the dollar flat and oil prices down marginally ($141.30 per barrel). However, geopolitical risk remains ever present and this should result in gold remaining well bid at these levels. While the ISM data yesterday looked benign and was greeted by an increase in risk appetite, a deeper look at the numbers was very worrying in that it showed a leap in the Index of Prices paid number.

READ MORE

Gold Investments Market Update

Gold Gold surged to $928.50 in New York on Friday and was up $16.20; silver closed at $17.62, up 50 cents. While the dollar has strengthened somewhat, oil has again rallied sharply to new record highs (up 2.4% to over $143.60 per barrel ) and this should result in gold remaining well bid at these levels. Geopolitical risk and continuing tensions in the Middle East and between the U.S.

READ MORE

From the Sub-Prime to the Ridiculous

On a day when I read that rising fuel prices are putting a pinch on the world's oldest profession I am reminded that there are commentators that can laugh in the face of creeping economic woes.

READ MORE

Gold Investments Market Update – Gold has Largest One Day Up Move Since 1985

Gold Gold surged to $912.30 in New York yesterday and was up $32.70; silver closed at $17.12, up 64 cents. Gold surged in what was the largest one day move since 1985 as the dollar weakened, oil prices surged to new record highs and stock markets fell sharply. While gold was up some 3%, most U.S. stock indices were down some 3% and this continued in Asia and early European trading with gold rising to over $920.

READ MORE

Gold Investments Market Update – Money Supply Surge to Lead to Inflationary Depression in U.S.?

Gold Gold closed at $879.60 in New York yesterday and was down $9.20; silver closed at $16.48, down 13 cents. Gold fell prior to and shortly after the Federal Reserve’s decision to keep interest rates on hold at 2%. However, with rates remaining extremely accommodative and inflation surging, gold soon recovered and rallied into the New York close and continued rallying in electronic trading.

READ MORE

Gold Investments Market Update – Inflation to Unleash a Financial Tsunami

Gold Gold closed at $888.80 in New York yesterday and was up $4.40; silver closed at $16.61, down 16 cents. Gold fell initially in Asia, then rose in early European trading prior to falling again in recent trade. With oil prices remaining near record highs, near $137 a barrel this morning and the dollar slightly weaker (it breached and remains close to 1.56 against the euro again this morning), gold should remain well bid at these levels but in the short term anything can happen and support is at $880 and $860.

READ MORE

Global Derivatives Market now valued at $1.14 Quadrillion!

The Bank of International Settlements, which seems to be the only institution that tracks the derivatives market, has recently reported that global outstanding derivatives have reached 1.14 quadrillion dollars: $548 Trillion in listed credit derivatives plus $596 trillion in notional/OTC derivatives. Yes, that is Quadrillion. One and 15 zeroes!

READ MORE

Gold Investments Market Update – Credit Crisis to Escalate on Credit Derivative Debacle

Gold Gold closed at $884.40 in New York yesterday and was down 17.30 cents; silver closed at $16.76, down 57 cents. Gold rallied in Asia and in early European trading to recover some of yesterday’s sharp losses. Oil has risen to near record highs, above $138 a barrel again this morning and the dollar has given up much of yesterday’s gains (1.557 to the Euro) and this is likely leading to gold buying. All eyes are on the Federal Reserve’s interest rate decision tomorrow and this could lead to traders being reluctant to take large positions - long or short.

READ MORE

Gold Investments Market Update – Peak Gold? – Australian Gold Production Plummets

Gold Gold closed at $901.70 in New York on Friday and was down 40 cents; silver closed at $17.33, up 1 cent. Gold was up over 4% last week and the close above $900 may prove important from a technical point of view in the coming weeks. Gold remained strong in Asia and in early European trading but has since succumbed to profit taking after last week’s gains on a stronger dollar this morning. There appear to have been large long positions with stop losses at $900 and this contributed to the severity of the sell off this morning.

READ MORE

Gold Investments Market Update – South African Gold Production Down Sharply

Gold Gold closed at $891.30 in New York yesterday and was up $6.90; silver closed at $17.31, up 26 cents. Since then gold has again traded in a range between $885 and $895 in Asian and in early European trading this morning. Gold rose in early trading in Europe when oil prices rose on news that Anglo-Dutch oil giant Shell had halted production at a major offshore oil facility in Nigeria because of a militant attack.

READ MORE
Category
Archives
Popular

No posts available