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
Gold Prices Remain Volatile While Investors Wait for Jobs Numbers
October 2, 2012 - Gold prices increase slightly today over yesterday’s closing. Gold prices reached an annual peak yesterday when the price went up to $1791.20, its highest price since last November. The spot price today is around $1775. News of a stronger euro against the weakening dollar and a little market apprehension over forthcoming U. S. Job market numbers on Friday has investors in a bit of a cautious… more
Gold Rallies But Remains Volatile
October 1, 2012 - Positive moves in hedge fund buying and gains in bullion prices (bullion is showing the highest quarterly price increases in two years) pushed gold prices up dramatically today. Continued speculation about increased inflation resulting from recent monetary easing actions from the Federal Reserve pushed gold to a 10 month high. In an interview with CNBC, Charles Evans President of the Federal Reserve Bank of Chicago, said that… more
Dollar Strengthens Gold Retreats
September 28, 2012 - Gold prices retreated today from yesterday’s high as the dollar moves into a stronger position against numerous other currencies. Despite the slight setback gold still remains in a strong position to make its biggest increases in any quarter since 2010. Announcements this month for major central banks regarding continued monetary easing in order to shore up their economies will continue to push gold into positive territory. Earlier… more