Spot precious metals dealings opened on the weak side with all four principal metals that we track losing more than 1.2 and up to 2.1 percent this morning. Spot gold was down by nearly $25 at $1,704 per ounce while silver was bid at near $33.25 with a loss of more than 60 cents.
A first-in-two-years decline in Chinese exports and imports also added to the selling pressure in precious and base metals this morning. Standard Bank’s analysts opine that, should gold slip further, then the $1,700-$1,720 zone could be a good one within which to establish fresh [...]
Gold prices rose Thursday as the U.S. dollar weakened and the euro strengthened in the wake of news that Greece leaders agreed to austerity measures to secure a financial bailout.
Gold gained $9.90, or 0.6% to $1,741.20 an ounce in the April futures contract on the Comex in New York. Gold moved between a low of $1,728.10 and a high of $1,755.50 [...]
Gold declined Wednesday, taking away a sizeable portion of the sharp gains from the previous day. Profit taking was among the major reasons cited for losses.
Gold prices fell $17.10, or 1.0% to $1,731.30 an ounce in the April futures contract on the Comex in New York. Gold hit an intraday low of $1,726.00 and made it as high as $1,754.80 [...]
Gold and crude oil enjoyed a very good trading session on Tuesday as speculators threw money at both markets with an amount of generosity that was clearly lacking on, say, last Friday…
Gold prices meandered on either side of the ‘unchanged’ marker this morning and orbited around the $1,745 area as the US dollar did not appear to pierce the 78.50 level on the trade-weighted index following yesterday’s euro-centric optimism-induced sell-off it was subjected to. At least one school of thought sees a potential [...]
Following two consecutive daily losses, gold rebounded Tuesday when the U.S. dollar fell and bargain hunting ensued. Pressuring the greenback were comments from Fed Chairman Ben Bernanke about weakness in the U.S. economy and optimism over reports of progress in a Greece debt deal.
Gold prices gained $23.50, or 1.4% to $1,748.40 an ounce in the April futures contract on the [...]
Gold declined Monday for a second straight session as a stronger U.S. dollar and a "risk-off" mentality pressured the yellow metal.
Gold prices fell $15.40, or 0.9% to $1,724.90 an ounce in the April futures contract on the Comex in New York. Gold moved between a low of $1,714.00 and a high of $1,740.90 [...]
Gold’s worst loss in over one month showed signs of continuing to deepen as markets opened for trading in New York this morning. Albeit during the overnight hours gold prices managed to bump some $10 higher in a recovery attempt, the uncertainty manifest in the European news flows on Monday kept the selling pressure on in the precious metals and commodities’ complex and speculators opted to take temporary shelter under the "green" umbrella of the US dollar (up 0.52% on the index).
European leaders appear to be losing patience with Greece at this juncture and have more or less issued an ultimatum for it to cut a deal that implies further belt-tightening measures, or [...]
Gold prices rose 0.5% this week despite a $19 loss on Friday which was triggered by a stronger than expected U.S. jobs report. Said report showed that the unemployment rate fell to 8.3% — the lowest level since February 2009 — from the 8.5% reading in December.
In closing Friday, gold prices declined 1.1% to $1,740.30 an ounce in the April futures contract on the Comex in New York. Prices traded as low as $1,726.20 and as high as $1,765.90 [...]
Spot gold dealings opened flat, near the $1,759 bid level but it then fell by $25 to near the $1,735 area shortly after the release of the jobs statistics and then the ISM services index and factory orders numbers this morning.
Recent advances (7.4% on the 30-day chart) in the value of the yellow metal had already prompted contrarian calls (based on the readings of gold newsletter sentiment data) for caution, and then some. So long as gold does not manage a close above the $1,803 area (according to EW analysis) the metal has the potential to turn lower after the current rally runs out of steam [...]
Gold reached a two-month high and advanced for a third straight session Thursday. Earlier in the day, Federal Reserve chairman Ben Bernanke reminded investors of the Fed’s intentions to keep interest rates near zero until late 2014. Bernanke also noted that there were some signs of an improving U.S. economy but that there are difficult times ahead. His comments were taken as bullish for commodities.
Gold prices added $9.80, or 0.6%, to $1,759.30 an ounce in the April futures contract on the Comex in New York [...]
