31 July, 2009
30 July, 2009
29 July, 2009
28 July, 2009
27 July, 2009
24 July, 2009
Gold Gold hit a 6 week high yesterday, capitalising on the beleaguered dollar, which hit a 7 week low against the euro. Gold, in euro terms, is still maintaining a robust showing this morning. With many analysts commenting on the likely decline of the dollar as the reserve currency, after the economic turmoil subsides, gold is still at the forefront of people looking to hedge their portfolios against systemic risk and currency meltdown.
23 July, 2009
22 July, 2009
21 July, 2009
Gold Gold continues to hold steady in the face of continuing dollar weakness. The dollar has firmed up slightly this morning, resulting in gold dipping below the $950/oz mark, a level it sustained in trading yesterday. Activity in gold ETFs has been particularly positive with the ZKB ETF reporting the 4th consecutive week of positive inflows and news that bank vaults in Switzerland are having capacity issues due to the volumes of gold and silver being stored there.
20 July, 2009
Gold Gold is currently trading at $946.50/oz and has broken though resistance of $939 and $942 very quickly. Fresh interest in the metal as an inflationary hedge surfaced on Friday on the back of a weaker dollar and higher oil prices. The interest has continued into Asian trading overnight. Technically, as mentioned on Friday, $955/oz is the next target and a close above that would signal a very positive outlook for gold.
9 July, 2009
8 July, 2009
7 July, 2009
3 July, 2009
Gold Gold rebounded yesterday after the jobless figures out of the US were worse than expected. This instigated a slump in equities and investors pumped funds into gold to hedge against falling stock markets. Gold is currently trading at $932.60/£571/€666.04.
Silver Silver has regained some of yesterday's losses but is still trading at $13.39, down from $14.13 only 4 days ago.
2 July, 2009
Gold: China has requested that a new global currency be discussed at next week's Group of Eight meeting in Italy. The news sent the dollar into a downward spiral and the price of gold rallied above $940, confirming its status as a currency hedge. The dollar has strengthened slightly today resulting in a small drop off in the gold price to $926.70.
1 July, 2009
With the end of the second quarter it is important to take stock and review how various assets have performed so far in 2009.
As per the tables below, gold and particularly silver have continued to outperform the vast majority of equity markets in the last six months. This is the particularly the case in terms of dollars (gold up 5.8%; silver up 21%) and euro (gold up 5.15%; silver up 20.3%). Thus gold again outperformed the benchmark S&P 500 (up 1.8) even after equity markets sharp rallies in the 2nd quarter.