Latest Gold & Silver Price News
Gold Chart
Gold bulls breached resistance at $1750 but have been unable to keep the market ABOVE that price. That will be necessary for them to set up a run towards $1775- $1780 where a major upside resistance level is located. There is a bit of weakness in Euro Gold today which is coming off of the rather large rally in the Euro in today’s session. That rally sent the Dollar down below critical support at the 79 level on the USDX but that market has rebounded back above 79 thus far. A close below 78.80 should set the Dollar up for a drop towards 78. It is indeed fascinating to watch […]
‘January Barometer’ gives green light to stocks
Though precious metal struggled yesterday to overcome important resistance levels on the price charts, overall January was a good month for gold, silver and the companies that dig these metals out of the ground. The HUI Index of leading gold and silver mining companies gained 3.6% over the course of the month – an encouraging, albeit modest, change of fortune when compared with the poor year that these stocks had over the course of 2011. However, the share prices of gold and silver producers continue to lag behind gains in the actual metals. As ZeroHedge reports, gold and silver were clear winners over the course of January in terms of performance when […]
Rumours about Iranian oil-for-gold programme persist
Despite official denials by the Indian government, rumours are spreading that India and China are planning to use gold to pay for future purchases of Iranian crude oil. According to unconfirmed speculation, the Indian government is planning a swap agreement with Iran which will assure future deliveries of Iranian crude oil to be paid in gold and Indian rupees. At the end of 2011 the US imposed an embargo on Iran, which was endorsed by the European Union last week. India and China are two major Iranian crude oil importers. Both states purchase roughly 30% of yearly Iranian production, amounting to a total of US$30 billion. Should these persistent rumours be […]
Investors buying Gold, stocks and euro as report confirms soft landing for China
Dollar prices for Buying Gold rose to $1750 per ounce Wednesday morning in London – their highest level since early December – while commodities gained and stock markets surged following a raft of better-than-expected manufacturing data. Prices for Buying Silver rallied to $34.01 – though they remained below yesterday’s high. US Treasury bond prices fell meantime, while the Euro rallied 1.3% against the Dollar. “Buyers have returned to the Euro, which is helping the situation in gold,” says Ole Hansen, senior manager at Saxo Bank. “[Gold] had a bit of lackluster profit-taking yesterday but didn’t break anything important on the downside, which helped confirm that being long is back in vogue.” “I think that […]
How Savings Accounts Became Rubbish
BEFORE the late 18th and early 19th century, there was no facility for most people to save. Banks did not accept small deposits and had no interest in anyone but the rich. Although building societies existed then, their purpose – as the name suggests – was to finance the building of houses, writes Jason Riddle of Save Our Savers. The idea for savings banks evolved against a background of severe economic decline and appalling poverty. The philanthropists who set them up were motivated by a strong belief in thrift and self-help. But their establishment was not purely a philanthropic gesture; savings banks made sound economic sense. The rudimentary welfare system of the day, […]
Monthly Gold Charts – January 2012
Author: Trader Dan, specialized in commodities like gold & silver
Video – Breaking News Ellis Martin Report with Jim Sinclair
A special unedited phone interview with legendary Jim Sinclair, about a very special situation taking place right now. The interview takes half an hour and you need to pay some attention to understand everything, but honestly it’s so important that everyone who is invested, should listen to it. Courtesy to Ellis Martin from EllisMartinReport.com
Gold knocking on the door of resistance at $1750
One thing in particular that really stands out to me in today’s trading session is the resilience of the gold market even as the safe haven trades were being put back on by a decent sized contingent of traders. The Euro got knocked down about 50 points and the US Dollar saw a pop higher as traders were expressing signs of nervousness over both Greece and now Portugal. Additionally, the long bond rallied up nearly a full point and is once again at the top end of a trading range that is now three months in duration. This combined with the fact that Euro Gold is extremely strong tells us […]
Gold Bullion Headed for Biggest Monthly Gain this Century
Gold Bullion prices were headed for their biggest calendar month gain this century by Tuesday lunchtime in London. Gold Prices hit $1745 per ounce – just shy of 14% higher than the Dollar Gold Bullion price set at the last London Fix of 2011. By this measure, January 2012 looked set to record the fourth-largest calendar month gain in the last three decades, and the biggest since September 1999, the month that saw the signing of the Central Bank Gold Agreement, which limited the sales of Gold Bullion by signatory central banks. Stocks and commodities also gained Tuesday, while government bond prices dipped. “In overnight trade in Asia, we continued […]
Video – Discover why the future of silver is bright also for you to invest in
In this short video, you’ll get a quick overview of how silver is used as a metal in products with a very bright future, as well as the investment value. Courtesy to goldsilver.com
What is Euro Gold telling us?
Gold priced in terms of the Euro continues to be most impressive on the chart as it creeps ever closer to its all time high. This move upwards is a visual telegraph that there remains deep-seated concerns over the European sovereign debt situation, especially on the Continent itself, in spite of the recent euphoria over “free money” for the next two years. While the Fed has given the markets, and in particular, the wild-eyed hedge fund community, the green light to buy “risk assets”, there is an underlying current of palpable worry which remains in our global markets. Short-term oriented players are betting that they are faster than the next guy […]
Currency Wars hotting up
Gold and silver prices paused for breath yesterday following their price breakouts last week. Gold for April delivery at the New York Comex settled down 0.1% at $1,734.40 per troy ounce, while silver …
Gold firm in spite of Stronger Dollar
Gold is coming under a bit of selling pressure in New York after opening higher in Asia alongside of silver last evening. Both markets then saw selling originating in the form of both profit taking and new short positions (from top pickers) after traders’ attentions turned back to the sovereign debt woes in Euroland, particularly Greece. Also there was a bit of news that China was not going to be in a hurry to loosen the monetary strings as quickly as some were anticipating. Either way, it led to a reversal of the recent risk trades in favor of the safe havens once again with the bonds getting a strong […]
