Gold Gold finished trading in New York yesterday at $903.00, down $14.00 but silver was up 5 cents to $17.35. After sharp falls in early trading in the COMEX yesterday (some of which was due to large stop loss sell orders being triggered around the $900 mark) gold rose to close only down some 1.5% on the day. Silver in similar volatile trading surged from interday lows to close higher.
30 July, 2008
Gold Investments Market Update - Never Catch a Falling Knife
Gold Gold finished trading in New York yesterday at $917.00, down $10.70 and silver was down 10 cents to $17.30. Gold rose slightly in Asian trading before falling.
30 July, 2008
Only the fittest SMEs will survive the coming recession
Small to medium enterprises are the life blood of modern economies. In Ireland for example, up to 56% of the national workforce is employed in by Small to Medium Enterprises, that is to say companies that employ less the 250 employees and would include local industries and mom and pop business outfits. From the United States to Germany and beyond small to medium enterprises are responsible for a large component a countries transactions
30 July, 2008
The 'lalalalalalalalalala' Effect
Browsing through digg this morning I notice an article titled 9 ways you can take advantage of this "terrible" economy.It's currently riding high in the digg popularity stakes with just shy of 1000 diggs.
It is, I think, a great example of what I choose to call The lalalalalalalalalala Effect - named after the sound one must make
29 July, 2008
Gold Investments Market Update - Financial and Economic Crisis Deepening as House Prices Continue to Fall
Gold Gold finished trading in New York yesterday at $927.70, up $1.30 and silver was up 8 cents to $17.40. Gold rose slightly in Asian trading before falling.
28 July, 2008
Gold Investments Market Update - Option Markets Point to $1,200 Gold in the Coming Months
Gold Gold finished trading in New York on Friday at $928.40, up $6.00 and silver was up 12 cents to $17.34.
25 July, 2008
Gold Investments Market Update - Swiss Central Bank Gold Sales Minimal due to Likely Increasing Demand from Sovereign Wealth Funds and Many Central Banks
Gold Gold finished trading in New York yesterday at $922.20, down 50 cents and silver was down 16 cents to $17.22. Gold has rallied in Asia and in early European trading.
While oil is up slightly and the dollar is down slightly, gold is likely to be up on bargain hunting and safe haven buying.
24 July, 2008
Gold Investments Market Update - Gold Nearing Traditional Summer Lows Prior to Rallying Strongly into Autumn - Important Charts
Gold Gold finished trading in New York yesterday at $922.70, down $25.50 and silver was down 55 cents to $17.38.
Gold has rallied in Asia and in early European trading with bargain hunting buying. Traders and investors with more medium to long term horizons realise that the speed and depth of the sell off is overdone. Especially as none of the fundamental macroeconomic or geopolitical issues have disappeared or even abated.
23 July, 2008
Gold Investments Market Update - U.S. Bankruptcy To Become A Foregone Conclusion?
Gold Gold finished trading in New York yesterday at $948.20, down $15.20 and silver was down 44 cents to 17.93. Gold continued to fall in Asia and in early European trading it is down by nearly 1.3%.
Gold was due a correction after its recent surge in price and remains up some 6% in the last month (from $882 to $935) unlike oil and the majority of stock markets (which are down by similar amounts).
22 July, 2008
Gold Investments Market Update - Gold Analysts Revise Up Gold Price Forecasts
Gold Gold finished trading in New York yesterday at $963.40, up $7.00 and silver was up 25 cents to $18.37. Gold traded sideways to slightly up in Asia before rising in early European trading by nearly 1%.
Gold remained firm and the dollar was under steady selling pressure for much of the day yesterday and remained so overnight as markets reacted to a bounce in oil prices and a raft of dismal earnings reports from a number of leading U.S.
21 July, 2008
Gold Investments Market Update - Deflationary Recession/Depression Versus Inflationary Recession/Depression?
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).
18 July, 2008
Gold Investments Market Update - George Soros Goes Long Gold
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.
17 July, 2008
It's Not Your Grandfather's Bank Run ... Yet
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.
16 July, 2008
Gold Investments Market Update - Alan Greenspan: "Gold still represents the ultimate form of payment in the world"
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.
15 July, 2008
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.
14 July, 2008
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.
11 July, 2008
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% su
10 July, 2008
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.
9 July, 2008
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.
