Gold Gold finished trading in New York on Friday at $956.40, down $12.70 and silver fell 53 cents to 18.12. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%. Despite the very sharp fall in oil prices and other commodities last week, gold only fell by 0.2%. Silver was down by 3%. August Crude fell by more than 11% - it fell $16.34 from over $145 to $128.74. And Prudent Bear’s Doug Noland points out that August Gasoline sank 11.5% (up 27.8% y-t-d), and August Natural Gas dropped 10.2% (up 42.9% y-t-d).
Gold Gold finished trading in New York yesterday at $957.00, down $4.00. Gold traded sideways and rose in Asia before rising in early European trading and then falling again and is now down 0.15% for the day. Equity markets have bounced on what is likely to be another short term correction on massive short covering.
From Wikipedia: Bank runs first appeared as part of cycles of credit expansion and its subsequent contraction. In the 16th century onwards, English goldsmiths issuing promissory notes suffered severe failures due to bad harvests plummeting parts of the country into famine and unrest.
Gold Gold finished trading in New York yesterday at $977.10, up $5.00 and silver was down to $18.92, down 27 cents. Gold fell in Asia before rising in early European trading. Gold rallied strongly in early trading yesterday on higher oil, a lower dollar and increasing macroeconomic and systemic risk prior to the sharp fall in oil prices (some $10 in a short period of time) which led to a selloff in precious metals. Despite the sharp selloff in oil, gold again remained resilient and finished some 0.5% higher in New York.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.