Gold in Euros in Correction - New Record Highs in Euros Likely

Published in Market Updates  Precious Metals Update  on 15 July 2010

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GoldCore Update: Gold in Euros in Correction - New Record Highs in Euros Likely

Published in Market Updates  Precious Metals Update  on 15 July 2010

Gold

Gold continues to consolidate above the $1,200/oz level and traded in a range between $1,207/oz and $1,215/oz overnight in Asia. Gold has risen slightly in European trade as the dollar has come under pressure. The poor retail sales have created concerns about the health of the US consumer and the other poor recent data on jobs and trade and budget deficits may see the dollar come under pressure again. Support for gold is at $1,195/oz and resistance is at $1,217.90/oz.

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Gold Options at $2,000/oz Surge By More Than 1,000% in 10 Weeks

Published in Market Updates  Precious Metals Update  on 14 July 2010

Gold

Gold rose 1.26% yesterday after the Portuguese debt downgrade; silver rose 2%. Gold has gradually edged up in Asian and early European trade. It may challenge resistance at yesterday's high of $1,217.90/oz but if it falls below the recent trading range of $1,210/oz to $1,215/oz it could quickly fall to short term support of $1,195/oz and $1,190/oz.

Gold is currently trading at $1,213/oz and in euro, GBP, CHF, and JPY terms, at €955/oz, £795/oz, CHF 1,284/oz, JPY 107,498/oz respectively.

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Gold Higher on Portuguese Downgrade and Lingering Concerns of Contagion

Published in Market Updates  Precious Metals Update  on 13 July 2010

Gold

Gold spiked higher today in all currencies as Portugal's downgrading and prices below $1,200/oz led to buying. The euro fell against both the dollar and gold (from €954 to €960 per ounce - see chart) on Moody's two-notch downgrade of Portugal. The downgrade was expected but it has ignited concerns that the European sovereign debt markets remain vulnerable, leading to continuing safe haven demand for gold. Lingering concerns over the European bank stress tests and the European banking system are also supportive.

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Markets Await Inflation Figures from Eurozone, UK, US and China

Published in Market Updates  Precious Metals Update  on 12 July 2010

Gold

Gold is lower in Asian and early European trading on low volume as the dollar has risen and renewed risk appetite has resulted in tentative gains in equity markets. Gold's marginally higher weekly close last week was positive from a technical point of view and could lead to follow through this week as momentum following traders and funds "make the trend their friend".

Gold is currently trading at $1,207/oz and in euro, GBP, CHF, and JPY terms, at €960/oz, £804/oz, CHF 1,284/oz, JPY 106,825/oz respectively.

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Gold to be Supported by Massive Fiscal Challenges Facing the US and Western Economies

Published in Market Updates  Precious Metals Update  on 9 July 2010

Gold

Gold fell $2.50 to $1195.30/oz yesterday and is now down 1% on the week. It traded sideways in Asia and down in early European trading. Another lower weekly close will again be bearish technically and would suggest that further retrenchment and consolidation may take place. A higher close today and on the week would help reverse the technical damage done recently.

Gold is currently trading at $1,197/oz and in euro, GBP, CHF, and JPY terms, at €944/oz, £788/oz, CHF 1,261/oz, JPY 105,998/oz respectively.

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Gold to be Supported by Negative Real Interest Rates

Published in Market Updates  Precious Metals Update  on 8 July 2010

Gold

Gold fell to an inter day six week low yesterday of $1,184.75/oz yesterday before a strong rebound which saw it close higher on the day at $1,197.80/oz. It rose above $1200/oz in Asian trade to $1,207.75/oz prior to giving up some of those gains in early European trade. Many traders and investors who have nee on the sideline in recent weeks see the present sell off as a buying opportunity.

Gold is currently trading at $1,200/oz and in euro, GBP, CHF, and JPY terms, at €948/oz, £792/oz, CHF 1,263/oz, JPY 105,665/oz respectively.

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346 Tonne Gold Swap with BIS is Positive for Gold

Published in Market Updates  Precious Metals Update  on 7 July 2010

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Gold Consolidates Tentatively Above $1,200/oz on Asian Demand

Published in Market Updates  Precious Metals Update  on 6 July 2010

Gold

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Spectre of Double Dip Recession to Support Gold

Published in Market Updates  Precious Metals Update  on 5 July 2010

Gold

Gold has had a quite start  to the week trading in a tight range between $1,210/oz and $1,215/oz so far in Asian and early European trading. With the US out for the Independence Day holiday it looks set to be a quite day although low volumes could result in volatility. A close below $1,200/oz could see gold fall to support at $1.185/oz and strong support at $1,165/oz.

Gold is currently trading at $1,210/oz and in euro, GBP, CHF, and JPY terms, at €966/oz, £800/oz, CHF 1,285/oz, JPY 106,249/oz respectively.

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Gold Suffers Sharp Correction on Fund Liquidation and Proft Taking

Published in Market Updates  Precious Metals Update  on 2 July 2010

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2010 YTD Gold Up 13% in USD, 19% in GBP and 24% in EUR

Published in Market Updates  Precious Metals Update  on 1 July 2010

Gold

Gold rose again yesterday in dollars and other currencies, especially sterling which fell against nearly all currencies (see chart below). Gold is currently trading at $1,244/oz and in Euro, GBP, CHF, and JPY terms, gold is trading at €1,008/oz, £830/oz, CHF 1,328/oz, JPY 109,574/oz respectively.

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Gold Consolidates Near Record Highs Up 12% in Quarter; Silver Up 6%

Published in Market Updates  Precious Metals Update  on 30 June 2010

Gold

Risk aversion led to falls in equity and commodity markets yesterday but gold again managed to eke out a 0.5% gain. The complacency of recent months is being challenged by a raft of negative data and by increasingly precarious fundamentals. Concerns about Chinese and global economic growth and about the European banking system and sovereign debt are leading to continuing diversification into gold.

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Short Squeeze in Coffee and Sugar Could Soon be Seen in Gold and Silver Market

Published in Market Updates  Precious Metals Update  on 29 June 2010

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Gold Robust as Equities Fall - Concerns on US Recovery and Sovereign Default Risk

Published in Market Updates  Precious Metals Update  on 23 June 2010

Gold

Gold's slight gains and resilience yesterday has surprised the bears who were expecting further falls. The downside reversal pattern seen on Monday may not have incurred as much technical damage as thought - especially if gold can manage to eke out a higher weekly close this week - above $1255/oz.

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Gold at New Record Nominal Highs on Continued Skepticism

Published in Market Updates  Precious Metals Update  on 22 June 2010

Gold

Gold rose to a new all-time intraday high of $1265.07/oz in early European trading and then gave up its earlier gains in London yesterday. Gold came under concerted selling pressure in New York and fell in the final hours of trade ending near its late session low of $1237.83/oz with a loss of 1.40%. It has range traded in Asian and early European trading today.

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Central Banks Diversifying into Gold - Bolstering Meager Gold Holdings

Published in Market Updates  Precious Metals Update  on 21 June 2010

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Gold Flat as Coffee Surges 20% in 6 Days and Oats Surge 40% in Week

Published in Market Updates  Precious Metals Update  on 17 June 2010

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Gold Consolidates in All Currencies While Silver Breaks Out

Published in Market Updates  Precious Metals Update  on 16 June 2010

Gold

Gold added 1.1 percent yesterday, the most in a week and is up marginally today and trading within 1.3 percent of its record nominal high of last week. Gold appears to be consolidating above $1,200/oz and a this may be the pause that refreshes prior to new record highs. Gold has also risen in other currencies and is back above €1,000/oz as concerns about sovereign debt issues and economic growth in the eurozone continue.

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Gold in Tight Range as Silver Outperforms

Published in Market Updates  Precious Metals Update  on 15 June 2010

Gold

Gold fell $5.40 in US trading yesterday to close at $1,222.70/oz and fell to €999.00/oz as the euro strengthened against the dollar. Gold has traded in a very tight range between $1,220/oz and $1,225/oz in Asian and early European trading. Silver rose yesterday and has is outperforming gold again today.

Gold is currently trading at $1,222/oz and in euro, GBP, CHF, and JPY terms, trading at €997/oz, £827/oz, CHF 1,394/oz, JPY 111,635/oz respectively.

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