The Gold Economy

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

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

A quiet week, full of news, ends with gold subdued

Trading volumes were thin through the week as the year draws to a close. Price volatility saw the price of gold bounce from recent lows to as high as $1640, before retreating to $1606 by Friday.

The week’s initial rise was provoked by the death of North Korea’s leader, Kim Jong Il, and concerns over the political stability of the region moving forward. The rallying gold price was maintained through the week as the Eurozone… Continue reading

Is Gold Being Sold To Pay For Sovereign Debt?

Bears of the yellow metal had the upper hand this week, as prices eroded from last week’s closing price to post a fall of 6.5%, closing at 1598.45 on Friday.

ETF’s were hit too, as net outflows hit record levels during the week. On Thursday, the SPDR Gold Trust (GLD) saw gold bullion stocks held to back shares fall to 1280 tonnes. The 15 tonne decrease on the day was the largest downward movement since August… Continue reading