Gold breaks through technical resistance, signals turn bullish.
Increased buying from India, together with a better investment environment overall, sparked further increases in the price of gold this week. Physical cash gold ended the week at $1665.90, an increase of 1.7% on last week’s closing level and a close above last week’s high of $1662.
Greece’s renewed efforts to find a settlement with its private creditors in order to receive its bailout funds next week has been received well in the markets, and a strong… Continue reading
January 22nd, 2012 | Posted in Gold Investing | No Comments
Gold Continues New Year Rally as US Economy Turns Mixed
Gold continued its New Year rally, though dipping from the week’s highs of around $1662 set on Thursday to close the week at $1638.70, a rise of 1.4% on the week.
The gold price struggled to make headway on Monday and Tuesday, as early season company reports in the United States seemed to point to a better corporate climate and a meeting between Germany’s Merkel and France’s Sarkozy showed a hardening of attitude toward the Greek… Continue reading
January 14th, 2012 | Posted in Gold Investing | No Comments
Gold Rallies as European Economy Weakens
Moving into the New Year, and investors hoping for a turnaround in the fortunes of the gold price, and some positives on the gold news front were not disappointed.
Gold closed at $1616, moving toward the $1632 level that many market watchers see as key to signalling a lasting sea change for the gold price. Reviewing economic figures released in the Eurozone, and it is clear to see why the price rallied by around 3.3% in the first week… Continue reading
January 8th, 2012 | Posted in Gold Investing | No Comments
Gold Weakens to halve Yearly Gain
Precious metals eroded most of any gains made through 2012 in December, as values were dominated by news from Europe and downward pressure was exaggerated by a lack of buying from India (as highlighted in this blog last week)
December reasonably positively, as European leaders spoke bullishly of the possibility of a new debt relief package and a new treaty for the financial stabilisation of Europe. However, general commodity prices ease due to the threat of European markets moving… Continue reading
January 2nd, 2012 | Posted in Gold Investing | No Comments
