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By Jon Nadler |
July 27, 2012
The final trading session of the week opened higher in metals as participants continued to bet that Mr. Draghi’s words will translate into action and that the GDP numbers will be the final motivating factor for the Fed to take action next week.
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By Jon Nadler |
July 23, 2012
The new trading week was off to a rocky start in precious metals as, despite only a relatively small, 0.20% advance in US dollar (to just above 83.80 on the index) the complex headed for lower price ground overnight.
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By Jon Nadler |
July 13, 2012
The yellow metal is poised to record another weekly loss in value despite this morning’s advance. The SPDR Gold Trust has witnessed an outflow of almost ten tonnes of bullion thus far this month.
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By Jon Nadler |
June 11, 2012
Gold got off to a relatively strong start overnight as prices opened firmer overseas and briefly retook the $1,600 level. The bulk of the gains were driven by the perception that the rescue plan for Spain’s banks would be euro-beneficial.
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By Jon Nadler |
May 23, 2012
The yellow metal thus fell by 2% to an intra-day low of $1,560.60 on the bid-side as the US dollar picked up some serious safe-haven-flight flavored steam and gained more than eight-tenths of a percent.
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By Jon Nadler |
May 16, 2012
Gold prices closed at their lowest level of 2012 after having probed even lower (around $1,540) during the trading day on Tuesday. The dollar’s 13-day advance is the longest winning one since the trade-weighted index was created.
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By Jon Nadler |
May 7, 2012
Spot gold bullion traded at lows near the $1,635 level in Sunday night trading, while the news from Paris also engendered bid-side quotes at near $29.90 for silver.
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By Jon Nadler |
April 27, 2012
The US dollar and stock index futures frowned upon the GDP estimate and headed lower. The development may give gold players another chance at trying to go for the assault on the $1,660-$1,675 resistance area.
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By Jon Nadler |
April 25, 2012
Gold’s last/best chance to try for the $1,650 target ahead of the Fed today comes from a lower-than-expected US durable goods orders figure and the flicker of a QE3 hope that such a metric might give rise to among speculators.
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By Jon Nadler |
April 23, 2012
Spot gold fell $19 (1.1%) after the opening bell and was quoted at $1,623.50 the ounce. In the background, the US dollar was up 0.40% at 79.53 on the index and crude oil lost $1.02 to ease to the $102.80 level per barrel.
