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Gold Posts Moderate Gain as S&P 500 Closes Historic Quarter

The spot gold price rose in trading in New York Friday, as increased consumer sentiment and spending sent everything up but the dollar index. The weak US dollar was the news of the day for the yellow metal, as no other major news out of Europe or China was heard on Friday. Markets in general [...]

Precious Metals Recover Late in Session to Break Even

What was looking like a grim day for gold and silver ended with a rally near the end of the spot trading session in New York. The gold price closed nearly unchanged and silver posted a modest gain. Pessimism permeated markets early on in the session as worries of Europe’s financial stability and a possible [...]

Negative Day Pounds Metals, Oil and Stocks

The gold price took a solid hit in spot trading in New York on Wednesday, as a general market sell off ensued following Fed Chairman Ben Bernanke’s pessimism on TV last night and a less than stellar manufacturing report today. Markets are becoming jittery again as uncertainty creeps into investor’s sentiments. Doubts over the solidity [...]

Late Trading Session Slide Sends Gold Down on Tuesday

After trading near $1,700 after the market opening on Tuesday, the gold price dropped lower and lower as the day went on, finally surrendering more territory near the market close. Stocks and commodities all suffered near the end of the session despite more positive reports on the recovery of the U.S. economy. Precious metals closed [...]

Gold Soars on Bernanke Remarks; QE3 on the Way Again

What could only have lasted a short time – that is, speculation that QE3 was off the table due to some hollow positive economic indicators – is now all but history. The pipe dream that the U.S. economy could sputter on without further money printing stimulus packages and support for insolvent banks and governments lasted [...]

Another Difficult Week for Precious Metals Ends with Solid Gains

Precious metals closed out a negative week with a healthy gain on Friday, as bargain buying and a move up in oil drove investors into the safe havens by excellence. The spot gold price benefited from analysis that sanctions on Iran will cut crude output, sending oil up and metals along with it. Despite the [...]

Gold Continues Slide on News of Manufacturing Slowdown in EU and China

The precious yellow metal closed slightly lower in spot trading in New York on Thursday, but well above the daily low. Bargain buying is buoying the gold price around the mid-$1,600s and preventing further losses, as fundamentals for precious metals are still more than sufficient for safe haven buying at the hands of gold bugs [...]

China Economic Slowdown and Indian Gold Tax Send Metals Down

The gold price closed lower in spot trading in New York on Tuesday, as investors positioned themselves for further bad economic news out of China. The inevitability of a Chinese slowdown is weighing on markets from time to time. The asian giant’s industry and cheap trinket-making for Western marks slowing down echoes the underlying weakness [...]

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 [...]