Gold
Gold reached new 2010 high in dollars (over $1,175 per ounce) in Asian trading overnight and again Europe this morning (over $1,177 per ounce) as investors continue to allocate funds to gold in order to hedge sovereign debt contagion risk.
29 April, 2010
Eurozone Debt Crisis is the 'Canary in the Coalmine' as US Deficits Soar
Gold
Gold finished at its highest level since early December and had its fourth consecutive day of gains Wednesday as a debt ratings downgrade for Spain and surging credit spreads created new fears of the eurozone sovereign debt crisis spreading and financial contagion. Gold for June delivery gained $9.60/oz, or 0.8%, to $1,171.80 an ounce on the Comex division of the New York Mercantile Exchange.
28 April, 2010
Gold at Record Highs in CHF, EUR and GBP - New Record in USD Due to Safe Haven Demand?
Gold
Gold rose to its highest level in 2010 (highest since December 4th, 2009) and new record highs in euros, Swiss francs and British pounds as ratings downgrades of Portugal and Greece fanned sovereign risk and contagion fears. Gold dipped to $1,146/oz early in New York before rising sharply to $1,164/oz on the downgrade news. It then saw profit taking and closed with a gain of 0.7%.
27 April, 2010
Gold in British Pounds Near Record Highs on Hung Parliament and Budget Deficit Concerns
Gold
Gold dipped to $1,150/oz after lunch in New York before recovering to close with a gain of 0.03%. It has range traded from $1,150/oz to $1,157/oz in late Asian and European trading this morning. Gold is currently trading at $1,155/oz and in euro and GBP terms, at €865/oz and £749/oz respectively. Gold remains near record highs in euros and Swiss francs. Gold in sterling has rallied today by more 2% today as sterling has fallen on hung parliament and UK fiscal deficit concerns.
26 April, 2010
Gold Rises to New Record High in Euros and Swiss Francs
Gold
Gold dipped to $1,135/oz early in New York before dipping rising sharply to close with a gain of 0.95%. Gold closed last week some 2% higher in dollars and 3% higher in euros. It has dipped from $1,159/oz to $1,155/oz in Asian and European trading this morning. Gold is currently trading at $1,155/oz and in euro and GBP terms, at €867/oz and £748/oz respectively. Gold has surged to new nominal record highs in Swiss francs and in euros (see charts).
23 April, 2010
Euro Gold Near Record Highs Due to PIIGS Contagion Risk
Gold
Gold dipped to $1,132/oz in New York before recovering to close with a loss of 0.49%. It has range traded from $1,137.50/oz to $1,143/oz in Asian and European trading this morning. Gold is currently trading at $1,140/oz and in euro and GBP terms, at €859/oz and £741/oz respectively.
22 April, 2010
Gold Supported by Growing Inflation Concerns and Record Low Interest Rates
Gold
Gold touched over $1,150/oz late in New York before dipping slightly to close with a gain of 0.79%. It has range traded from $1,144/oz to $1,149/oz in Asian and early European trading this morning. Gold is currently trading at $1,147/oz and in euro and GBP terms, trading at €856/oz and £743/oz respectively.
21 April, 2010
Gold Edges Higher in Major Currencies on Debt and Inflation Concerns
Gold
Gold went up to $1,145/oz for a gain of over $10 early in New York but it then fell back off ending with a gain of 0.34%. It has range traded from $1,140/oz to $1,146/oz in Asian and early European trading this morning. Gold is currently trading at $1,143/oz and in euro and GBP terms, gold is trading at €851/oz and £742/oz respectively.
19 April, 2010
Gold Falls on Goldman Sachs Revelations; Icelandic Volcano Ramifications Assessed
Gold Gold fell 2% last Friday resulting in a loss of 2.1% for the week. The majority of the markets fell on the news regarding the SEC’s investigation of alleged fraud by Goldman Sachs. Oil and some other commodities were particularly hard hit. Gold has fallen below $1,130/oz in European trade this morning and could now fall to support at $1,110/oz.
16 April, 2010
Gold Consolidating in USD and Near Record Highs in EUR and GBP
Gold Gold went as low as $1,150/oz early in New York, it then rose to $1,161/oz before ending with a gain of 0.13%. It has range traded from $1,151/oz to $1,156/oz in Asian and European trading this morning. Gold is currently trading at $1,155/oz and in euro and GBP terms, gold is trading at €853/oz and £748/oz respectively. Gold rallied from below £745 to £749.60 per ounce overnight on UK hung parliament and economic concerns (see gold GBP chart below).
14 April, 2010
Palladium Surges 8% in One Day to Test Long Term Resistance; Gold Short Term Correction?
Gold Gold fell to as low as $1,145/oz in New York, it then recovered to close with a loss of just 0.86% yesterday. It has risen from $1,153/oz to $1,160/oz in Asian and early European trading this morning. Gold is currently trading at $1,160/oz and in euro and GBP terms, gold is trading at €850/oz and £753/oz respectively.
13 April, 2010
Gold Breaks Resistance and Succumbs to Profit Taking
Gold Yesterday, gold jumped to $1,169/oz in Asia before falling in New York, it then recovered to close with a small gain of 0.11%. It range traded from $1,150/oz to $1,157/oz in Asian trading this morning. Gold is currently trading at $1,154/oz and in euro and GBP terms, it is trading at €847/oz and £750/oz respectively.
12 April, 2010
Gold Rallies to 2010 High in Dollars - 27 Year Record High in Yen in Tokyo
Gold Gold jumped to as high as $1,164.38/oz in New York on Friday, and rose 0.69% on the day and 3% on the week. It rallied sharply on the open in Asia (from $1,159/oz to over $1,169/oz) and has since range traded from $1,162/oz to $1,169/oz in Asian and early European trading this morning. Gold is currently trading at $1,164/oz and in euro and GBP terms, at €855/oz and £754/oz respectively.
9 April, 2010
Silver's Surges 10% in 2 Weeks - Near Record in Euro Terms
Gold Gold climbed steadily to as high as $1,153.70/oz in New York before reverting slightly to close unchanged for the day. It has risen from $1,150/oz to $1,158/oz in Asian trading this morning. Gold is currently trading at $1,157/oz and in euro and GBP terms, gold is trading at €864/oz and £753/oz respectively. Gold and silver have given up some of their earlier gains as the dollar rose and then fell today.
8 April, 2010
Gold Firm on International Currency Crisis Risk
Gold Gold climbed steadily to as high as $1,153/oz in New York before reverting slightly to close with a gain of 1.56%. It has since range traded from $1,144/oz to $1,147/oz in Asian trading this morning. Gold is currently trading at $1,145/oz and in euro and GBP terms, gold is trading at €861/oz and £755/oz respectively.
7 April, 2010
Gold Rises to New Record Euro High - Greek Debt Crisis is Canary in Coal Mine
Gold Gold jumped to as high as $1,138/oz in New York before falling back to close with a gain of 0.16% yesterday. It has since range traded from $1,134/oz to $1,138/oz in Asian trading this morning. Gold is currently trading at $1,135/oz and in euro and GBP terms, gold has risen and is trading at €852/oz (new record nominal highs) and £744/oz respectively. Support is at $1,120/oz and resistance is at $1,145/oz. Given the gathering momentum in the gold market - a close above $1145/oz could see us rise to $1160/oz quite quickly.
6 April, 2010
Euro Gold Rises to New Record High on Renewed Greek Concerns
Gold Gold jumped to as high as $1,133/oz in New York before dropping slightly to close with a gain of 0.71% yesterday. It has since range traded from $1,124/oz to $1,130/oz in Asian trading this morning. Gold is currently trading at $1,125/oz and in euro and GBP terms, it is trading at €839/oz and £742/oz respectively. Gold priced in euros has risen to a new all-time high above €839 an ounce this morning due to renewed concerns about Greece’s fiscal position (see News below).
1 April, 2010
Q1 2010 - Gold +1.5% and Silver +3.5% - Gold's Sixth Consecutive Quarterly Advance
Gold Gold jumped to as high as $1,118/oz in New York on the surprisingly poor jobs number before dropping slightly to close with a gain of 0.86%. It has since risen from $1,112/oz to $1,118/oz in Asian trading this morning. Gold is currently trading at $1,117/oz and in euro and GBP terms, gold is trading at €827/oz and £734/oz respectively.
