Recent Articles
Gold Posts Modest Gains in Quiet Start to Trading Week
A mostly uneventful Monday saw small gains in the spot gold price in New York. Extremely low volumes traded in the stock markets made for a tranquil day in the metals markets as the dollar index and crude oil were also subdued. A day bereft of European crises, geopolitical tensions and news of China’s economy [...]
Precious Metals End Negative Week With Slight Gain – Markets in Limbo
The gold price closed out a torrid week with a minor gain in spot trading in New York on Friday. The key news of the day was deteriorating consumer confidence and a jump in the cost of living along with signs of increasing economic activity. The news sent oil soaring nearly 2%, but doubts about [...]
Gold Claws Back Lost Ground as Traders Buy Oversold Precious Metals
Following the sharp losses suffered on Wednesday, the gold price began its recovery in spot trading in New York on Thursday. Sub-$1,700 prices are too tempting to pass up, as bargain hunter buying and short covering sent precious metals up. The continued optimism in the stock markets was impulsed today by a positive report on [...]
Gold Continues Drop as QE3 Continues on the To-Do List
Recent optimistic reports on the U.S. economy have indefinitely moved the inevitable QE3 farther down the road, and precious metals are taking the brunt of the damage. As massive money printing to save insolvent banks and an insolvent American government has been pushed back, some traders are dumping the yellow metal and other commodities. Europe’s [...]
Gold Drops as Stocks Rally on Latest 24-hour Cycle of Market Optimism
Positive economic data in the United States concerning a substantial increase in retail sales was enough to send stock markets soaring and metals markets sinking. A huge breath of optimism swept over traders on Tuesday as the markets managed to forget Europe, China and dozens of insolvent “first world” governments for a whole trading day. [...]
China Slowdown Sparks Commodity Sell-off, Gold Holds Above $1700
Reports out of China indicated a general slowdown in the economy, as its trade deficit widened, consumer spending disappointed, and industrial production continued well below estimates. The news of a slowdown in China caused a generalized sell-off of commodities, including gold, silver and oil. The next dominoes in Europe to fall (Spain, Portugal?) were out [...]
Metals Rally On Greece, U.S. Jobs Report. Gold Closes Over $1,700
News of a Greek debt restructuring acceptance by bondholders of over 80% and a solid employment report by the U.S. government sent gold over $1,700 per ounce again. It was obvious that the yellow metal would not remain under $1,700 for long. Sub-$1,700 prices are too tempting for investors not to get into the precious [...]
Positive Greek Debt Swap Pushes Gold Back to $1700
A high acceptance of the Greek debt swap with investors impulsed markets today. The gold price broke the $1,700 per ounce level again on bargain buying, closing just $0.50 shy of a key resistance point. The renewed optimism in Europe pushed the Euro higher, causing the dollar to slide as commodities and stocks rallied. Key [...]
