The Gold Economy

Gold Has Tremendous Week as Political and Economic Woes Persist

After consolidating at around last week’s closing level in the early part of the week, the gold price took off on Wednesday. Precious metals in general reacted positively to the United States FOMC statement that the Fed would be holding a neutral interest rate policy over the next three years, and saying that it will keep interest rates between 0 and 0.25% through to the end of 2014.  Market observers have analysed this as being tantamount… Continue reading

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

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

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