Gold Rises on Weak Dollar
October 17, 2012 - Gold got a boost from news that Moody’s has affirmed the investment grade status for Spain and the expectation from analysts that Spain will soon be seeking financial aid from the European Union. The euro reaching a one-month high as the dollar fell after Moody’s announcement also helped to fuel increases in gold prices. Investor confidence remains shaken as the outlook for further significant increases in gold… more
Gold Drops On New Economic Numbers
October 15, 2012 - Gold prices fell to their lowest level in two months but still remain near an 11 month high. Investors are still watching to see what Spain’s decision will be concerning a bailout. Spain’s credit rating was lowered on Wednesday by Standard & Poor’s to near junk level, while economic ministers report that a future request for a bailout from the Eurozone will not make any political resistance. Gold bullion… more
Gold Cautious as Dollar Rises
October 9, 2012 - Continued concerns over the euro zone’s economic stability push the euro lower as the dollar strengthened. In a meeting on Monday of the euro zone finance ministers they decided that Spain would not need a bailout at this time due to the fact that they believed that that country was able to stabilize its own capital markets without further assistance from the European Central Bank at… more
Gold Reaches 11 Month High; $1800 Next
October 4, 2012 - Gold prices reached their highest level since last November today, fueled in part by the announcement from the European Central Bank that they would continue to keep interest rates in the eurozone at current near zero levels. The market now appears to be set to break through the psychological ceiling of $1800 per ounce. Jobless claims for the week are up 4,000 reaching 367,000 for the period ending September… more