Precious Metals CommentaryGold, silver, and the noble metals traded lower this morning as profit taking prior to the weekend emerged and players took chips off the market tables in the wake of a very good week indeed. Gold traded between $1,730 and $1,750 while silver oscillated between the $34.75 and $35.75 mileposts. Pre-weekend rallies are not to be excluded from the realm of possibilities even as book-squaring plays out in coming hours. Bull costumes have been very popular this week.

The explanation that gold gained this week on the back of perceptions that the crisis was going to be finally resolved was swiftly replaced this morning with […]


Fine Gold BarsGold and silver futures marked a fifth straight day of gains Thursday, lifting the metals $134.80 and $4.83, respectively, since they last declined one week ago.

Gold prices rose $24.20, or 1.4 percent, to $1,747.70 an ounce in the December futures contract on the Comex in New York. Gold traded from an intraday low of $1,707.20 to a high of $1,749.00 […]


Precious Metals CommentarySpot metals dealings opened with gains this morning, but such advances were more sizeable in the industrial metals than they were in gold. With the US dollar being much lower on the trade-weighted index and with risk appetite having probably turned voracious after the EU announcements, one might have expected the yellow metal to try to test the upper reaches of its recent upward correction (near $1,750). But, as they say, it’s never too late to try.

In any case, the gains that gold achieved over the past couple of sessions now appear to have slowed as the semi-resolution of the European crisis does imply the waning of some safe-haven searches and the quest for making a buck in certain other assets possibly reasserting itself. We did find it a bit curious that […]


Fine Gold BarsGold futures rallied again Tuesday, extending a streak of gains to four straight days in which the yellow metal has surged by a combined total of $110.60, or 6.9 percent. The tense situation over Europe’s debit crisis has elicited safe-haven buying, opined analysts.

"There is no quick fix to European debt issues, so gold’s crisis-hedge status is driving the metal higher,"¬†Scott Gardner, the chief investment officer at Verdmont Capital SA in Panama, said in an e-mail that was cited on Bloomberg.

Gold prices advanced $23.10, or 1.4 percent, to $1,723.50 an ounce in the December futures contract on the […]


Precious Metals CommentaryThis morning, gold spot dealings opened at the $1,704 mark on the bid-side and follow-through buying by momentum players was expected to become manifest for at least the first half of the day’s session. Silver traded 7 pennies higher and was quoted at $33.34 the ounce. Current resistance in the white metal extends from $33.50 to $34 the ounce.

The noble metals advanced by $6 each in the case of platinum and palladium. The former reached $1,570 and the latter $647 per ounce. Copper added another 3.3% this morning-for good measure. Oil fell back by […]


Fine Gold BarsGold futures rallied nearly $50 Tuesday and closed above $1,700 an ounce as fresh concerns surfaced over Europe’s debit crisis.

"People are realizing that the European situation is not resolving itself, and it’s coming to the forefront again," Reuters earlier quoted Zachary Oxman, managing director at futures broker "If we can close above $1,700, I think we will see a meaningful jump in the next few weeks and $1,900 is very possible again."

Gold prices soared $48.10, or 2.9 percent, to $1,700.40 an ounce in the December futures contract […]


Fine Gold BarsGold rose along with stocks and other riskier bets Monday, marking a second straight day of gains that cut into last week’s losses.

"Gold has moved away from a more traditional safe haven to a risker asset, commodity-type play," Reuters quoted David Meger, director of metals trading at futures broker Vision Financial Markets. "And riskier assets are all trading in tandem right now with the Europe situation."

Gold prices advanced $16.20, or 1.0 percent, to $1,652.30 an ounce in the December futures contract […]


Precious Metals CommentaryMonday’s New York spot metals’ dealings opened with assorted gains that ranged from a strong 3.7% for copper to about a tenth of that for silver. Gold was bid at $1,656 and showed a gain of $14.20 per ounce while the white metal climbed one dime to reach $31.51 the ounce.

Those initial gains in gold moderated somewhat after the first hour of trading action. The noble metals advanced more robustly, with platinum rising $21 to the $1,532 level and with palladium gaining $17 to reach $629 the ounce. No changes were reported in rhodium which was still bid at $1,625 this morning […]


Fine Gold BarsGold surged Friday, snapping a string of four straight daily losses.

Gold prices rose $23.20, or 1.4 percent, to settle at $1,636.10 an ounce in the December futures contract on the Comex in New York. The yellow metal traded between $1,612.80 and $1,649.80.

Although prices moved within a somewhat narrow range Friday, they swung with a touch of volatility during the week. The five days of trading saw an intraday low price of $1,604.70 an ounce on Thursday and a high of $1,696.80 an ounce on Monday — more than a $92 difference […]


Precious Metals Commentary Following a string of losses that has extended over four trading sessions, gold prices tried to stabilize in the $1,630s overnight as a modicum of optimism over Europe’s debt crisis resolution emboldened a few buyers to pick up some bullion. Still, the week that was will likely be tallied as gold’s worst in one month as the yellow metal’s value eroded by over 3%.

Most trading surveys taken a week ago envisioned a higher gold price for this past week and traders were noted to be at their most bullish since the big price rout took place in September. However, hectic conditions in Europe, equity market turbulence, and fund redemptions kept gold in check despite the calendar showing only one week to go prior to Indian festival time […]