gold price

FastMarkets March 19th, 2014

Precious metals prices continued to consolidate on Tuesday with the complex pulling back by an average of 1.6 percent at the day’s lows, with the silver price down 2.6% at $20.62, while gold dropped to a low of $1,350.65. By the close they were down an average of 0.9 percent with the gold price finishing at $1,355.65 and silver at $20.82. The PGMs closed down around 0.6 percent.

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After a 18 day delay the much anticipated U.S non-farm payrolls and unemployment number was released this morning. It was a mixed bag. September non-farm payrolls grew by 148,000, well below the 182,000 forecast. The August number was revised upwards to 193,000 from 169,000. The unemployment rate came in at 7.2 percent.

Source: Bloomberg

By Tony C. Dreibus - Aug 19, 2013 8:05 AM ET

Monday, 11 Feb 2013 10:36 AM
By Michael Kling

A currency war could prompt gold prices to rise later this year, analysts predict.

Central banks around the world are pushing down the value of their currencies to increase exports and improve economies at home. The strategy might spark inflation and raise investors’ concerns, causing a surge of investors into gold.

Spot gold drifted lower in light trade as the U.S markets geared up for the thanksgiving holiday. Spot gold touched an intraday high of $1730 on the heels of a weaker U.S green back.

Spot gold has remained relatively range bound between $1705 and $1740 as traders squared position on the short work week.

Spot gold continued its sell of trading to a 2 month low of $1639.20 as “risk on” was the theme of the day.

Spot gold prices remained just above session lows still reeling by liquidity issues after the Fed's comments on quantitative easing yesterday, which also weighed on the euro. The euro vs. the U.S dollar hit multi month lows of 1.3008 as traders continue to buy U.S dollars on the upbeat economic outlook for the U.S. It was a light day data wise for the U.S so most traders kept the momentum from the Feds earlier comments. The descending euro also exacerbated gold’s slide.

Precious metals were in rally mode as growing confidence that a Greek debt swap will be well enough in favour to avoid a credit event.

Spot gold traded to $1704 as the Euro picked itself off the floor to start a rally of its own. The single currency traded to a session high of 1.3278 amid growing confidence on the Greek bond swap.

"Expectations that the take-up will be sufficient to allow the debt swap to proceed without any activation of the collective action clauses expectations have kept the euro buoyant," Standard Bank said.

Gold’s Rise Will Go on Long-Term: Investors

Published: Thursday, 8 Mar 2012 | 1:24 AM ET

By: Catherine Boyle
Staff Writer, CNBC.com
 

The price of gold, the classic safe haven asset, has slipped down in the past couple of weeks— but some investors think this is just a pause before it continues to rise.

“We’re in a strong bull market that is taking a rest right now,” Charlie Morris, head of absolute return at HSBC Global Asset Management, told CNBC.