Gold closed higher on Wednesday due to short covering as it consolidated some of Monday’s decline. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends this month’s [...]
(Bloomberg) — Gold rose for a second day on speculation that the Federal Reserve will spur inflation by continuing to buy Treasury securities in a bid to revive the economy. Silver also advanced. Analysts expect the Federal Reserve to keep a $300 billion program of buying Treasuries as a way to loosen credit by adding [...]
(Reuters) – Gold rose above $930 per ounce on Wednesday, gathering strength as the dollar prolonged its downward slide against major currencies on expectations that the U.S. Federal Reserve will not rush to raise interest rates. The metal extended its gains in London after hitting a six-week low of $912.90 on Monday, with the dollar [...]
(Bloomberg) — Gold rose for a second day in London as a weaker dollar increased demand for the precious metal as an alternative investment. The U.S. Dollar Index, a six-currency gauge of the greenback’s value, fell as much as 0.4 percent to a 12-day low on speculation the Federal Reserve will today signal it intends [...]
A few weeks ago the gold rush was back on. Inflation fears were rising. Yields on treasury bonds were rising. Gold was making another run at $1,000. Leading the headlines though and sparking the most interest was hedge fund manager John Paulson and his big bets on gold and gold stocks. Since then, interest in [...]
Courtesy of Eric Lam of FP Trading Desk Gold producer Iamgold Corp. recently increased the resource estimate at its new Westwood mine in Quebec, but Blackmont remains unconvinced about the value of the company moving forward. “Given the still early stage and uncertain economics, we ascribe only a $25/oz value to this project and as [...]
August gold futures closed up $4.70 at $925.70 today. Prices closed nearer the session high after hitting a fresh five-week low early on today. Short covering and perceived bargain hunting were featured today as the U.S. dollar sold off sharply.
Courtesy of Commodity Online Demand for silver investments is heating up in 2009. “The rise in silver prices has also been largely thanks to a fresh wave of investment demand, as funds and other investors buy into silver futures and physically backed exchange-traded funds (ETFs), ” Reports Commodity Online. “The growth in investment demand for [...]
In our current 8-year bull market, June has seen the lowest return for gold and one of the best times to buy. Gold is one of the best forms of capital that can protect you in a financial Armageddon. That gold was up in 2008 is a reminder of its protective power. How much gold [...]
Gold closed sharply lower on Monday marking a downside breakout of last week’s narrow trading range. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends this month’s [...]