GOLD Gold got back on track last week after September’s price correction, up $47.20 per ounce (2.8%) for the week. It closed the week at $1,683.80, which is the high end of the recent trading range. Demand is not just coming from Asia at the current price (which is down $240 from the September highs) and buying is increasing globally...
GOLD Gold trading over the past two weeks is looking very firm. While a trading range of $1,625 to $1,691 seems to be holding, there’s news on the horizon that should cause an upside breakout. Physical demand remains strong in Asia and Europe, as the Chinese plan to install over 2,000 gold ATMs to help satisfy the growing demand. The...
The return to real money is making swift gains as public distrust and uncertainty about the viability of fiat currencies continues to grow. And according to a recent report inDigital Journal, some countries, including China, are actually installing automated teller machines (ATM) that dispense gold bullion rather than paper currency....
GOLD Off and running again, Gold demand is building in Asia, physical shortages are being reported in Singapore and premiums on bullion coins and bars have increased. At 11am PDT Gold was up $20.40 , trading at $1,681.40 per ounce on excellent volume. Bolivia has joined the club of Central Banks building up their gold reserves, by adding 7 metric...
GOLD In late trading Monday, the gold price reached $1,685 before we saw some light profit taking. Global gold demand is still strong with the market trading overnight in the $1,655 to $1,685 price range. The market sold off this morning on concerns over the Slovakia vote on passage of the Eurozone’s EFSF bailout fund. At 11am PDT gold was...
GOLD German chancellor Angela Merkel and the President of France, Nicolas Sarkozy met this weekend in Berlin. After two days of discussions they finally reached an agreement on most of the key issues. They promised to release a 5 point comprehensive package to stabilize the Euro, and sweeping recapitalization of the European banks by the end of this month. After...
