Published in Market Updates  Precious Metals Update 


Silver Ready to Breakout - Technicals and Fundamentals Suggest $50/oz in Early Autumn

Gold and silver have fallen after yesterday’s gains due to the very poor consumer confidence data and Federal Reserve murmurings of further monetary easing. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce. While silver is trading at USD 41.21, EUR 28.53 , GBP 25.31, CHF 33.33 and JPY 3,155 per ounce. 


Published in Market Updates  Precious Metals Update 


Gold at $1,950 Within the Month Reaffirm UBS; JP Morgan $2,500 Year End Call Remains

Gold is higher against most currencies and especially the euro. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce.

Gold’s London AM fix this morning was USD 1,791.00, EUR 1,243.49, GBP 1,097.56 per ounce. Gold fixed marginally higher than last Friday’s AM Fix which was at USD 1,787.00, EUR 1237.10, GBP 1,094.17 per ounce which suggests physical demand is supportive at the $1,800 level.


Published in Market Updates  Precious Metals Update 


Gold Fell 2.96% Last Week – Further Falls Possible but Downside Limited

Gold has fallen in U.S. dollars and in most currencies but is higher in Swiss francs due to concerns of fees on Swiss franc deposits. Asian (except for China’s CSI300) and European equities are higher as investors judge the recent sell off as excessive. Risk appetite has risen on hopes that the U.S. and global slowdown will not be sharp.  

Gold is trading at USD 1,818.80, EUR 1,254.10, GBP 1,110.90, CHF 1,482.50 and JPY 139,340 per ounce.


Published in Market Updates  Precious Metals Update 


Western Speculators Sell Gold; Asia and West Buy Bullion - Coin and Bar Supply Increasingly Tight

Gold is higher in most currencies but especially in dollars and Swiss francs. The dollar and European equities are lower due to nervousness prior to Bernanke’s speech at Jackson Hole. Expectations are waning that Federal Reserve Chairman Bernanke will indicate further quantitative easing measures to prop up the ailing U.S. economy – at least in the short term.

Gold is trading at USD 1,790.80, EUR 1,241.10, GBP 1,098.90, CHF 1,422.50 and JPY 137,779 per ounce.


Published in Market Updates  Precious Metals Update 


Gold Down Further 2% – Chorus of ‘Gold Bubble’ Callers Such as Roubini Out in Force Again

All major currencies have risen against gold again today as the vicious sell off seen on Tuesday and particularly yesterday continued in Asia overnight and in Europe. 

Gold is trading at USD 1,723.80, EUR 1,192.10, GBP 1,052.90, CHF 1,369.50 and JPY 133,225 per ounce.


Published in Market Updates  Precious Metals Update 


Germany May Want PIIGS Gold as Security for ‘Bailouts’ – Merkel’s Officials in Damage Limitation Mode

All major currencies are lower against gold today with the Japanese downgrade and concerns about global growth taking their toll on Asian stock markets. While European indices have eked out gains, some selling of peripheral European debt has been seen again and yields on German bunds have risen.

Cross Currency Table


Published in Market Updates  Precious Metals Update 


Gold Reaches $1,913.50 – Smart Money Moving into Silver as UBS Says $50 Silver in 3 Months

All major currencies are higher against gold today including the US dollar, despite the dollar falling on international markets.

Gold reached new record nominal highs at $1,913.50/oz overnight and profit taking and traders nervous about potential margin increases have led to a 1% fall in dollar terms today. Gold has fallen by more in euro and sterling.


Published in Market Updates  Precious Metals Update 


Gold Nears $1,900 - Venezuela Formally Requests Gold Holdings Held by BOE Ship by Sea

All major currencies have fallen against gold and silver again today with gold reaching new record nominal highs in most fiat currencies including U.S. dollars. Gold reached a new record of $1,894.80/oz - just shy of $1,900/oz.

Cross Currency Table


Published in Market Updates  Precious Metals Update 


Perfect Storm Sees Gold & Silver Surge – Chavez Gold Action Leads to Backwardation, Short Squeeze and ‘Havoc’ Concerns

All major currencies have fallen sharply against gold and silver again today with gold reaching new record nominal highs in Canadian and New Zealand dollars, in sterling, in euros and of course in dollars as turmoil continues in global markets.

In volatile trade, gold is down 1% from new record highs and is trading at USD 1,860.10, EUR 1,300.40, GBP 1,126.40, CHF 1,470.90, and JPY 142,414 per ounce and has risen some 2% in all currencies. Silver has surged by nearly 3% in all major currencies.


Published in Market Updates  Precious Metals Update 


Gold Over $1808 - May Be Poised for 'Parabolic' Rise; People in West Not Prepared for Possible Currency Crisis

All major currencies have fallen sharply against gold again today but especially the ‘commodity’ fiat currencies of the Australian, New Zealand and Canadian dollar. Swiss francs are also under pressure again today.

Gold is trading at 1,808 USD, 1,259.10 EUR, 1,096.40 GBP, 1,436.90 CHF and 138,510 JPY per ounce.  

The London AM fix was a second consecutive record nominal high in USD. Gold’s London AM fix this morning was USD 1,794.50, EUR 1,246.44, GBP 1,087.12 per ounce (from yesterday’s USD 1,792.00, EUR 1,240.39, GBP 1,089.96 per ounce).


Published in Market Updates  Precious Metals Update 


Merkel and Sarkozy Plans Fail to Assure Markets - New Record Nominal Gold High (USD London Fix)

Gold is mixed in various currencies today after French President Nicolas Sarkozy and German Chancellor Angela Merkel unsurprisingly failed to deliver a solution to the euro zone debt crisis. 

The London AM fix in USD was a new record nominal high. Gold’s London AM fix this morning was USD 1,792.00, EUR 1,240.39, GBP 1,089.96 per ounce (from yesterday’s USD 1,779.00, EUR 1,236.18, GBP 1,086.81 per ounce see LBMA).


Published in Market Updates  Precious Metals Update 


Stagflation Threatens Western Economies – Gold a Bubble, to Correct or Go Parabolic as Per 1970s?

All major currencies have fallen against gold today with the euro down 1% against gold on nervousness ahead of the Franco German summit. Gold is trading at USD 1,776.70, EUR 1,235.10, GBP 1,084.10, CHF 1,389.90 per ounce and 136,450 JPY/oz.  Gold’s London AM fix this morning was USD 1,779.00, EUR 1,236.18, GBP 1,086.81 per ounce.


Published in Market Updates  Precious Metals Update 


Today is the 40th Anniversary of Nixon Ending Gold Standard and Creating Modern Fiat Monetary System

Gold has fallen today in all major currencies except the Swiss franc which has fallen sharply again on continued talk of SNB intervention. Gold is trading at USD 1,742.70, EUR 1,220.10, GBP 1,068.70, CHF 1,375.60 per ounce and 133,820 JPY/oz.  Gold’s London AM fix this morning was USD 1,738.00/oz, EUR 1,214.11/oz, GBP 1,065.88/oz.


Published in Market Updates  Precious Metals Update 


Gold Surges in All Currencies in Tumultuous Week - XAU/CHF Up 5.5% WTD on Intervention and Euro Peg Concerns

Gold has fallen today in all major currencies except the Swiss franc which has fallen on continued speculation of pegging the Swiss franc to the euro. Gold is trading at USD 1,754.30, EUR 1,232.10, GBP 1,078.70, CHF 1,349.30 per ounce and 134,357.00 JPY/oz. Gold is 5.1% higher in dollars week to date and 6% higher in euros and 6.6% higher in pounds or to put it correctly these currencies have fallen in value against gold.


Published in Market Updates  Precious Metals Update 


Germany’s Best-Selling Tabloid Bild's Front Page Encourages Readers To Buy Gold

Gold has fallen today in all major currencies except the Swiss franc which has fallen on SNB intervention rumours. Gold is trading at USD 1,791.40, EUR 1,257.10, GBP 1,107.70, CHF 1,318.80 per ounce and 136,976.00 JPY/oz.  The yen has fallen by 8.7% against gold so far in August as the yen, while rising in dollar terms, is falling sharply in gold terms (see chart below).


Published in Market Updates  Precious Metals Update 


Gold Market Up - Equity Market Up - What gives?

Gold prices held their ground late into trading Tuesday, even in the face of a surge in US equities. Buoyed by a US Federal Reserve pledge to maintain a low interest rate policy until mid 2013, the Dow rose 612 points (5.7%) in the final 90 minutes of trading. Gold held its ground and today is showing signs of strength, trading at $1,756.30/oz up $13.30/oz. Gold in EUR and GBP is trading at 1,224.16/oz and 1,082.26/oz.


Published in Market Updates  Precious Metals Update 


JP Morgan Warns Gold to Go Parabolic and Rise to $2,500 By Year End

Gold in USD terms is 2.4% higher and is higher against all currencies and trading at USD 1,760.40 , EUR 1,234.10, GBP 1,075.70, CHF 1,306.80 per ounce and 132,719.00 JPY.  

Gold’s London AM fix was USD 1,770.00, EUR 1,241.75, GBP 1,080.98. Gold reached new record nominal highs at $1,780.10/oz and new nominal highs in euros and sterling also this morning.


Published in Market Updates  Precious Metals Update 


Gold and Silver Higher As ECB Intervenes in Markets – Currency and Euro Debasement Accelerates

Gold in USD terms is 2.5% higher after the weekend U.S. downgrade and is higher against all currencies and trading at USD 1,706.40 , EUR 1,195.90 , GBP 1,039.20, CHF 1,039.20 per ounce and 132,549.00 JPY.  Gold’s London AM fix was USD 1,709.75, EUR 1195.21, GBP 1,040.94.

Cross Currency Rates


Published in Market Updates  Precious Metals Update 


Safe Haven Gold Up 2% in Tumultuous Week – Stock Indices Down 6% to 13% in Week

Gold is 0.75% higher in dollar terms this morning on safe haven buying after yesterday’s 0.43% fall.  Gold is marginally higher against all currencies and is trading at USD 1,659.50 , EUR 1,170.20 , GBP 1,018.30, CHF 1,269.00 per ounce and 130,530.00 JPY. 

The surprisingly positive U.S. jobs figure may lead to further short term weakness.


Published in Market Updates  Precious Metals Update 


Gold Surges 3.8% in Japanese Yen as Yen Falls Sharply and Global Currency Wars Resume

Gold has surged nearly 4% in Japanese yen this morning as the BOJ entered currency markets overnight selling yen thereby depreciating their currency against the dollar and other fiat currencies.

Gold is higher against all currencies and is trading at USD 1,663.50, EUR 1,168.20, GBP 1,018.30, CHF 1,291.00 per ounce and 133,000.00 JPY per ounce. Gold’s London AM fix was USD 1664.25/oz, EUR 1170.61/oz, GBP 1,018.20/oz. Gold reached new record nominal highs in majors yesterday and remains close to these record highs today.