Gold Core

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

Published by Mark O’Byrne under Market Updates |

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.

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Gold Investments Market Update - Inflation to Unleash a Financial Tsunami

Published by Mark O’Byrne under Market Updates |

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.

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

Published by Mark O’Byrne under Market Updates |

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.

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Gold Investments Market Update - South African Gold Production Down Sharply

Published by Mark O’Byrne under Market Updates |

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.

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Gold Investments Market Update - Bank of England Warns Inflation Here to Stay and to Accelerate

Published by Mark O’Byrne under Market Updates |

Gold
Gold closed at $883.20 in New York yesterday and was up $13.30;silver closed at $17.24 up 67 cents. Gold traded in a range between $880 and $890 in Asian and European trading this morning prior to selling off at the open on the NYMEX.

With oil selling off and the dollar stronger versus the euro today, gold has come under pressure. But the inflation genie is well and truly out of the bottle and central banks internationally are in an extremely difficult situation.

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Gold Investments Market Update - Gold Remains Fringe and the Preserve of the Smart Money

Published by Mark O’Byrne under Market Updates |

Gold
Gold closed at $881.00 in New York and was up $13.20; silver closed at $16.84, up 27 cents. Gold has subsequently given up some of yesterday's gains and has fallen in Asia overnight and in early European trading this morning.

Gold is again taking its cue from oil which is down and the dollar which is up this morning. This trend may continue until we get a breakout out of the recent range bound trade between $850 and $950. The breakout is again likely to be to the upside.

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Gold Investments Market Update - Interest Rates to Rise Internationally to Combat Inflation

Published by Mark O’Byrne under Market Updates |

Gold
Gold closed at $894.80 in New York and was down 70 cents; silver closed at $17.15 down 22 cents. Both have sold off in Asia overnight and in early European trading this morning.

Gold’s sell off is somewhat counter intuitive given the host of positive fundamentals. However, oil selling off and the dollar strengthening again (despite increasing credit, financial and systemic risk) is contributing to gold’s weakness.

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GI quoted in MarketWatch: Silver's more than a sparkle in investors' eyes

Published by Edward Murphy under Articles of Interest | Silver |

GI believe all investors should have a precious metals allocation of at least 25% to silver and either buy silver outright now or should transfer from gold to silver at the earliest possible opportunity.

We believe $50 per ounce

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