Gold Surges To £1,175/oz, Near Record £1,179/oz In GBP, As Sterling Falls Sharply

Gold Surges To £1,175/oz, Near Record £1,179/oz In GBP, As Sterling Falls Sharply

] Gold prices have surged in British pounds today as sterling fell sharply on concerns that Boris Johnson may lead the UK and EU into a “hard Brexit.” Gold surged to 1,175/oz and nearly touched the all time record nominal high of £1,179/oz as the pound fell on international markets. Gold gained nearly 0.5% in … Read more

Gold Surges To $1,512 At Open In Asia, Falls To $1,488 At Open In London, Then Moves Over $1,500 Again

Gold Surges To $1,512 At Open In Asia, Falls To $1,488 At Open In London, Then Moves Over $1,500 Again

] * Gold up nearly 6% so far in August after 3% gain last week * Gold futures traders increase net longs in COMEX gold * Volatile trading overnight saw gold go higher, lower and then higher again as gold seeks to consolidate at $1,500/oz (see gold in yellow in chart above) NEWS & COMMENTARY … Read more

Deutsche Falls To New Record Low Showing ‘Lehman Shock’ Contagion Risk

Deutsche Falls To New Record Low Showing 'Lehman Shock' Contagion Risk

] * Deutsche bank’s new record low at €5.80 underscores German and European banking contagion risk * FTSE 100 opens slightly higher after trading delay of 90 minutes on trading trading services ‘issue’ * GE falls the most in 11 years after Madoff whistleblower calls it a ‘bigger fraud than Enron’ * Gold prices are … Read more

Gold Falls Despite President of the United States Attacking “Fail Again” Federal Reserve

Gold Falls Despite President of the United States Attacking "Fail Again" Federal Reserve

] Gold sees selling of gold futures in electronic trading on NY Globex despite a bullishFed rate cut and even more bullish attack by President Trump on the Federal Reserve.Those who have alleged that gold is being manipulated lower believe that this suggeststhat despite the indictment of JP Morgan, gold is still being manipulated lower.This … Read more

Gold Falls 0.25% After Johnson Says Brexit Agreed; Markets Remains Skeptical of the ‘Deal’

Gold Falls 0.25% After Johnson Says Brexit Agreed; Markets Remains Skeptical of the 'Deal'

] ◆ Gold has fallen in pounds, euros and dollars after breaking news suggesting a Brexit deal has been reached ◆ The pound and the euro rose with the pound gaining 0.52% against the dollar ◆ The Australian and New Zealand dollar saw larger gains of 1% and 0.7% respectively which suggests foreign exchange markets … Read more

Gold Falls 3% In Week to One-Month Low At $1,464/oz As Banks and Hedge Funds Sell COMEX Futures Aggressively

Gold Falls 3% In Week to One-Month Low At $1,464/oz As Banks and Hedge Funds Sell COMEX Futures Aggressively

Gold Falls 3% In Week ◆ Gold is down 3% this week on concentrated selling of gold futures on the COMEX in New York. ◆ Stocks in Asia fell and European indices were mixed today due to conflicting signals between China and the U.S. regarding progress in resolving the trade war which is damaging global … Read more

Gold Price Falls on Selling of Gold Futures Equal to 3 Million Ounces in 30 Minutes

Gold Price Falls on Selling of Gold Futures Equal to 3 Million Ounces in 30 Minutes

Gold Price Falls on Selling ◆ Gold price falls to a three-month low as concentrated selling of COMEX gold futures contracts equal to over 3 million ounces are sold in 30 minutes ◆ 33,596 contracts were aggressively sold in the 30 minutes between 10:00 and 10:30 a.m. New York time which is more than triple … Read more

Gold Steadies After Falls As U.S., Iran Stepping Back From the Brink

Gold Steadies After Falls As U.S., Iran Stepping Back From the Brink

] Source: Bloomberg ◆ Haven demand ebbs as stocks climb with easing Mideast tensions ◆ Palladium retreats from fresh record but holds near $2,100 ◆ There’s still very strong demand for gold “due to a host of financial, geopolitical and monetary risks,” said Mark O’Byrne, research director at GoldCore Full article on Bloomberg Gold Posts … Read more

Gold Falls 0.6% After Having A Seven Year Weekly High Close and 4% Gain In January

Gold Falls 0.6% After Having A Seven Year Weekly High Close and 4% Gain In January

] Gold falls from seven year high weekly close ◆ Gold prices fell 0.6% today after reaching a seven year weekly high close at $1587.90/oz on Friday, gold’s highest weekly price settlement since March 2013, a 4% gain in January and its second straight monthly climb. ◆ Chinese stocks crashed over 7.7% overnight as investors … Read more