RSSCategory: Articles: Gold Silver Prices

Gold & Silver Price Today – 25 September 2012

Gold & Silver Price Today – 25 September 2012

Both the gold price and silver price are staying strong since the last spike on September 14th. In gold, we see a trading range between $1,750 and $1,790 over the past 7 days. It’s clear that 1,800 is a very strong resistance zone. We are probably experiencing a consolidation period in which the metal gather energy to break through 1,800. The important thing to watch is the gold price not breaking support levels, which are $1,750 and secondary support around $1,730 (as technical analyst and trader Dan Norcini points out). In silver we have a similar view. $35 has clearly strong resistance and the metal “needs some work” to break through […]

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Gold Firm but Unable to Continue through Upside Resistance

| September 25, 2012 | Articles: Gold Silver Prices
Gold Firm but Unable to Continue through Upside Resistance

Gold is trading firmly today as risk appetite is back on after a bit of a hiccup yesterday. Many investors/traders are growing a bit more sanguine about the impact of any QE program and are still concerned about slowing global economic growth in spite of Central Bank actions to stimulate borrowing and spending. That is leading to more two-sided trade in gold, and in silver I might add, as traders sort out clues to see which direction the economy might be taking. Frankly, I think it is pathetic that we have reached a point in our nation’s history that the actions of the Fed have so discombobulated common sense. No […]

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ETF Gold Bullion Holdings Hit Record High

ETF Gold Bullion Holdings Hit Record High

Gold bullion prices hovered around $1765 per ounce Tuesday morning in London, 1.8% off last Friday’s seven-month high. “It looks to me like we’ve got a short period of consolidation,” says Standard Chartered analyst Daniel Smith. “[We’ll see] maybe a month of sideways trading possibly and then generally trending higher in the next six months to a year.” Stock markets were also broadly flat as major government bond prices gained, while the Euro recovered early losses ahead of a meeting between the leaders of Germany and the European Central Bank. Tuesday also brought fresh news of central bank gold buying, while SPDR Gold Shares (GLD), the world’s biggest Gold ETF, saw its Gold […]

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Gold Bullion Still a Buy Despite Price Drop

Gold Bullion prices fell to $1757 per ounce Monday morning in London – 1.7% off a seven-month high hit briefly last Friday – as stocks, commodities and the Euro also ticked lower and US Treasuries gained amid signs of ongoing political stalemate in Europe. Silver Bullion dropped to $33.71 per ounce – 4% down from Friday’s high. Despite the falls, analysts continue to forecast higher prices for Gold Bullion, while dealers in India report increased physical demand toward the end of last week as local prices came down. “[There is a] lack of obvious catalysts in the near term to take Gold Prices higher,” says Deutsche Bank analyst Daniel Brebner. “But I do think we […]

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Gold And Silver Fail to hold Resistance Levels

| September 23, 2012 | Articles: Gold Silver Prices
Gold And Silver Fail to hold Resistance Levels

Both of the precious metals had mustered enough energy to finally best those respective chart resistance levels earlier in today’s session but were repelled around midmorning and unable to keep their footing above important chart resistance. It sure seems to be, based on the price action, that there was extremely heavy capping action occuring. It seems to me that the noteworthy strength in the mining sector as evidenced by the robust performance of the HUI has given the bulls a great deal of confidence in stepping up to buy the dips in both metals. Gold has now entered firmly into a zone in which we can expect opposition all the way to […]

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New Silver Upleg

New Silver Upleg

Silver has certainly enjoyed an impressive run of late, catapulting nearly a third higher since mid-summer. Because this surge looks nearly vertical on short-term charts, some traders are getting nervous about this rally’s staying power. While silver may indeed be temporarily overbought, its recent strength actually looks like the vanguard of a major new upleg. Silver’s advance is likely just getting started. Skepticism of silver’s potential continues to run rampant among speculators and investors. But this is par for the course after a major correction. Back in the spring of 2011, silver rocketed parabolic in a gargantuan upleg. But it became wildly overbought, hitting the most extreme greed levels of […]

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Uptrend Intact for Gold Bullion

Uptrend Intact for Gold Bullion

Spot market Gold Bullion prices held above $1770 per ounce Friday morning in London, a few Dollars off six-month highs set earlier in the week, while stocks and commodities were also broadly flat ahead of a meeting between the leaders of Spain and Italy, with press reports suggesting plans are being discussed for a Spanish bailout. Heading into the weekend, Spot Gold would make its fifth straight weekly gain if it closes above $1770 per ounce later today, while gold in Euros remained within 1% of last year’s all-time high this morning. “The large uptrend is still intact, and it is positive that gold has been able to hold onto […]

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Gold Price Today – September 20th, 2012

Gold Price Today – September 20th, 2012

The gold price is holding firm over the last trading days. It especially remarkable we didn’t see a correction after past week’s rally. It seems we are going to close the week rather stable, after 4 consecutive weekly gains. Jesse writes today: “The line is being held as I said yesterday. 1800 is the next ‘first down’ marker for gold, if they can cross it and hold it. Silver *could* lead the way, but that might look more like a deep pass to midfield.” Spot gold closed the NY trading session $1,767.90 an ounce, which is a slight loss of 0.1% over the day. Trading volume was light. Gold prices at […]

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Japan Follows Global Easing Trend, Gold Price Should Decisively Breach $1800 in Q4

The Dollar Gold Price fell to $1772 per ounce Wednesday morning in London, a few hours after hitting its highest level for nearly seven months after the Bank of Japan became the latest central bank to announce further quantitative easing measures. “It seems that the stars are now aligned for gold to move higher,” says Anne-Laure Tremblay, analyst at BNP Paribas. “The next hurdle to overcome will be the $1800 an ounce level, which we expect to be breached decisively in the fourth quarter.” The Silver Price fell to around $34.60 an ounce – having hit $35 a day earlier for the first time since March. Stocks and commodities were little changed on the […]

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Profit Taking Sees Gold Bullion Fall Back from Highs, but Support and Bullish Momentum Seen

Gold Bullion prices hovered just below $1760 per ounce during Tuesday morning’s London trading, 1% off the high hit last week after the US Federal Reserve announced its new open-ended asset purchase program. “Immediate bullish upside momentum will be maintained while the Gold Price trades above Thursday’s low at $1723.69,” reckons Axel Rudolph, senior technical analyst at Commerzbank. “Support above this level can be seen…at $1749.51 and below it at the psychological $1700 level.” Silver Bullion traded in a tight range below $34.20 an ounce this morning – 2.1% off Friday’s six-month high. Stock markets meantime edged lower, while US Treasury bonds gained. Industrial commodities were little changed, following Monday’s sudden drop in oil […]

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As Currencies Devalue due to Monetary Expansion, Gold Prices are Headed Higher

As Currencies Devalue due to Monetary Expansion, Gold Prices are Headed Higher

Last week the gold sector was filled with action as gold prices got yet another major boost on Thursday when Ben Bernanke, chairman of the U.S. Federal Reserve announced another round of quantitative easing. After, an initial sell-off on the opening of the US session on Comex, which has become practically a customary trade of the bullion banks prior to any major monetary policy statement, the price of gold exploded moving sharply upwards from an intra-day low of $1717 an ounce to $1779 an ounce in less than two hours. The Fed said that it will begin buying $40-billion in agency mortgage-backed securities every month starting Friday. It also extended […]

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Gold & Silver Price Today – September 17th 2012

Gold & Silver Price Today – September 17th 2012

It was rather a calm day today as far as the gold and silver prices are concerned. The metals need a short break here, after 4 consecutive weeks of strong gains. The impressive gains of the end of past week, after “QE to infinity” was announced, need to be digested. A month ago, on the 17th of August, the gold price in US dollars dipped below 1,600. The gold price today closed at 1,764.70 on average volume.  As Reuters reports today, the precious metals held more firm than the other commodities, which is a sign of strength and believe in the safe haven character of gold & silver. Silver had a similar price […]

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Silver Price Forecast: Is Silver Fast On Its Way To $50?

Silver Price Forecast: Is Silver Fast On Its Way To $50?

There is not just a similarity in how gold and silver trade at the same time period, but also how they trade at similar milestones, despite the fact that those milestones are sometimes reached at different times. This can cause silver or gold to be the leading indicator, depending on the particular milestone. The 1980 peak for both gold and silver is definitely an important milestone. For this 1980 milestone, gold is undoubtedly the leading indicator (since gold has already passed its 1980 high), so it could help us to project what silver might do around this milestone. Market conditions often cause silver to fall behind gold, for quite some […]

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Euro gold price taking off

| September 17, 2012 | Articles: Gold Silver Prices
Euro gold price taking off

After reaching a new all-time high of €1,365 per troy ounce last week, the price of gold looks ready to celebrate the new “unlimited” fashion at the ECB with some healthy action of its own, expect the following months to be very exciting. The temptation to print is just too strong, the old school bundesbankers stepped out and those left behind are more than happy to sound tough in press conferences, but still accommodate the politicians with easy money. The truth is that without free, unlimited money, they would actually have to make hard choices. Imagine that! The horrifying thought of having to choose between ice-cream and chocolate cake, instead […]

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