Gold News

April 06, 2011

Gold edges up; dull US jobs data revives QE3 talkLink

Gold rose modestly in anaemic spot trade on Friday after disappointing U.S. payrolls figures revived talk about an extension of the Federal Reserve's stimulus measure, but gains were too mild to stem the first weekly loss in three weeks.

With only a handful of ticks registering in the cash market due to the U.S. and European exchange holidays, spot gold was bid at $1,637.99 an ounce by 8.54 am EST (1354 GMT), up about 0.5 percent on the day and around $7 higher than just before the U.S. non-farm payrolls data. For the week bullion was down 1.8 percent.

U.S. payrolls rose by just 120,000 jobs last month, lower than even the most pessimistic analyst had predicted and the smallest gain since October, the Labor Department said on Friday. The unemployment rate fell to a three-year low of 8.2 percent as the labour force shrank......... Read more from Source

April 04, 2011

Gold Slumps 3.3%Link

NEW YORK—Gold prices extended their losses as the precious metal got caught in a broad market selloff triggered by a surprising uptick in U.S. crude inventories.

Gold for June delivery was recently down $55.60, or 3.3%, at $1,616.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

The pullback came after data showed crude oil stockpiles rose nine million barrels to 362.4 million, well exceeding forecasts of a 1.9 million barrel increase. Oil futures, which were already lower ahead of the release, slumped 2.6% to $101.32 a barrel.

The selloff spread to equity markets, with the Standard & Poor's 500 recently down 1.2% at 1396.4.

"People are sitting on their hands, waiting to see how low this market can go before [it finds] support and that's leading to momentum selling," said Dave Meger, director of metals trading with Vision Financial Markets........ Read more from Source

April 03, 2011

The Decline and Fall of the USDLink

In our previous article we looked at whether the U.S. Dollar was headed for a major fall or not. We demonstrated how the dominance of the U.S. dollar was almost entirely dependent on the grip it had over oil producers and this allowed the oil price to be designmnated in the U.S. dollar. The U.S. has gone to war in Kuwait and Iraq over this issue under the guise of destroying "weapons of Mass Destruction" as it appears on the verge of doing in Iran.

It is no coincidence that Iran has long since ceased using the dollar to price its oil. It has also eliminated the U.S. dollar from its reserves. But of greater importance to the emerging world has been the use of the Belgian-based SWIFT system of international settlements. Not only has the move stopped the sale of Iranian oil, but it has also interfered with an important source of oil to the emerging world....... Read more from Source

April 03, 2011

The Gold Forecast, Running of the Bulls (Part 6) Link

My last commentary on March 23, 2012, presented technical evidence suggesting a termination of the current correction in gold. Three different technical indicators all suggested the same conclusion: a high probability that the current correction was coming to an end. It was the combination of technical indicators with similar conclusions that strengthened the reliability of that forecast. The chart below is a daily Japanese average chart of spot gold. First, the circled candle was the hammer we identified in the last commentary as a key reversal single candle pattern. Second, the low of this hammer matched a precise 61% retracement and occurred at the end of the current Elliott wave count. Any of these indicators alone could shed sound technical information yielding reliable market insight. However, it is the combination of these indicators that, like the multiple threads in a rope, strengthens the call. Each indicator offers unique insight that contains one piece of a much larger puzzle. The combination of indicators reveals a much more detailed and multi-dimensional technical market analysis. By identifying the confluent agreement of these indicators the puzzle pieces become part of the whole, strengthening the likelihood of success...... Read more from Source

3-27-12

• Gold steadies near two-week high as euro retreats Link

3-23-12

• Gold Rises In Tandem With Crude Oil On Iran Link

2-2-12

• Gold rises to two-month high, eyes U.S. payrolls Link

1-24-12

• Gold falls from six-week high as euro eases Link

1-24-12

• Weak Euro Weighs on Gold Prices - Link

1-24-12

• Comex Gold Ends Weaker On Profit-Taking - Link

1-18-12

• Gold firms as IMF talk, Fitch stance lift euro - Link

11-29-11

• Gold rises with equities again, open interest down - Link

11-02-11

• Gold rises on deepening euro zone crisis - Link

10-07-11

• Gold bounces after U.S. jobs data rattles dollar - Link

9-27-11

• Gold Declines in as European Leaders Strive to Tame Debt Crisis - Link

9-27-11

• Gold, Dollar Correlation In Sight In Recent Market Rout - Link

9-23-11

• Gold Drops Below $1,700 Amid Broad Selloff - Link

9-16-11

• Gold Prices Tread Water as Europe Takes Focus - Link

9-6-11

• Gold tops $1,900 intraday, but finishes lower - Link

8-29-11

• Comex gold meanders around $1,800/oz in thin trade Link

8-26-11

• Stocks, Gold Rise after Bernanke Speech; Fed Not Likely to Intervene Link

8-26-11

• Gold rush brings windfalls and warnings Link

8-26-11

• Gold Coins: The Mystery of the Double Eagle - Link

8-23-11

• Gold Tumbles in Metal's Biggest Decline in a Year - Link

8-23-11

• Gold Falls, Corrects, Breaking Six-Day Rally - Link

8-16-11

• Gold Futures Advance on Haven Demand as European Economy Dips - Link

8-12-11

• Gold Surges in All Currencies - Link

8-12-11

• Corvus Gold announces drilling program at Terra, Alaska - Link

8-12-11

• Gold Holding Near $1750 - Link

8-9-11

• JP Morgan forecast for spot gold prices $2,500 a troy ounce - Link

8-9-11

• Vietnam Central Bank allows imports of 5 tons of Gold to stabilize the market - Link

8-9-11

• Gold & Silver - Daily Outlook August 9 - Link

8-9-11

• Gold rises alongside stocks, as investors cling to more secure assets - Link

8-8-11

• U.S. gold strikes record above $1,700 on S&P downgrade - Link

8-3-11

• How Perceptions Shape the Trade - Link

8-3-11

• Emerging world buys $10 billion in gold as West wobbles - Link

8-3-11

• Refuge Demand Sends Gold To Record Above $1,670 - Link

8-2-11

• Gold Rises On Global Growth Fears - Link

8-2-11

• Gold Soars to New High as Economic Concerns Spur Greater Dem.. - Link

8-2-11

• Central Bank Increases Gold Reserves - Link

7-26-11

• Gold steady below record; US debt talks eyed - Link

7-26-11

• Soros's decision protects money, legacy, influenced - Link

7-26-11

• Gold flat after hitting record - Link

7-25-11

• Gold hits record with debt talks deadlocked - Link

7-18-11

• Gold futures rise above $1,600 an ounce - Link

7-13-11

• Comex Gold Extends Record Gains on Ideas of More U.S. Fed Easing - Link

7-13-11

• Gold hitting record highs, but can it last? - Link

7-13-11

• Gold hits record high on Bernanke, euro worries - Link

7-02-11

• Gold hits 6-week low as oil slips - Link

7-02-11

• Weaker Outlook For Gold Prices Likely - Link

7-02-11

• Why Silver Could Drop Below $30/ozt - Link

6-15-11

• Gold extends gains as econ worries linger - Link

6-15-11

• Greek debt fears sink Wall Street, more losses eyed - Link

6-7-11

• Soros is selling his gold — should you too? - Link

Scrap Gold Prices

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10K Gold

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999

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925

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900

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700

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