Tag Archives: Gold

Spot gold prices raced higher yesterday after touching lows of $1649.15 in NY, following Fed Chairman Ben Bernanke’s reiteration that US Interest rates would stay close to zero until possibly the end of 2014.

Some profit taking yesterday led a small downturn in spot Gold prices with the metal also weighed down by reduced physical demand due to the Asian lunar new year holidays and easing crude oil prices.

Gold is trading above its daily trend line resistance, which is marked today around $1668, with an intra-day high currently posted at $1677.70 with prices continuing to trend higher after the European cash equity opening.

Spot Gold is trading higher for a fourth consecutive day in Europe Thursday as the euro continues to rise against the dollar and physical bullion demand holds firm. Market participants say the yellow metal continues to take its cues from other markets, primarily EUR/USD, which has climbed to its highest level since Jan. 5. Gold […]

Spot Gold prices made modest gains on Wednesday as the metal tracked a return of risk appetite on hopes of a solution the Greek debt deal and talk of additional support from the IMF. The metal continues to hold above the 200 moving average around $1640.80, and a weakening USD index along with heightened physical […]

Spot gold prices moved higher yesterday aided by higher crude oil prices amid a general” risk on” trading day and a broader rise in the commodity sector. Comments from the GFMS also helped sentiment with expectations of $2000/oz forecast for H2 2012 or early 2013 on the back of global economic concerns.

Spot Gold prices have consolidated, after a gradual climb during the Asian session saw prices hit a five week high at $1667.90. Gold prices began to correct back shortly before the European equity cash opening, but prices formed a base around $1658.85.

Spot Gold prices picked up on Monday largely reversing the slide of Friday following the EU downgrades in a generally quiet market with the NY market closed in observance of Martin Luther King Day. The metal picked up on firming oil prices and equities.

Spot Gold continued its rally from Tuesday with notable fresh safe-haven buying, physical demand from Asia, and technical buying from CTA and macro accounts (on the break up through the 200 day MA at $1636.36) leading the steady climb higher.

The spot price of Gold is firmly higher for a second consecutive day in Europe Wednesday as sentiment in the market turns increasingly bullish following a break of a key technical level and an evident rise in physical demand.