Gold fell to settle near $1,520 on Thursday after a surprisingly large rise in weekly U.S. jobless claims hit investor risk appetite, pummelling commodities and stocks and boosting the dollar. Gold was already in negative territory earlier in the day after the U.S. Federal Reserve cut its forecasts for U.S. growth but did not suggest [...]
Gold prices edge towards all-time highs as the external environment remains supportive. Prices settled mostly unchanged across the complex yesterday. Gold prices tested intraday highs of $1557.75/oz before closing unchanged on the day at $1545.8/oz following the FOMC statement, the dollar strengthening against the euro and equity markets weakening. “Our economists note the Fed sees [...]
The gold price seems to be going up every day, currently ranging from $1500 to $1550 an ounce.So what exactly is pushing the gold price to these extraordinary highs? Apparently, the fear of the debt crisis currently taking place in Greece is what’s causing people to invest in gold, creating demand for the precious metal [...]
A couple of days ago on the pages of this newspaper doubts were raised on why gold prices have been going up. It was pointed out that George Soros once said that, “Gold is the ultimate bubble.” But Soros also said that “Nothing is quite as profitable as investing in an early stage bubble.” So [...]
Bullion, which broke above its recent range after rising in six of the past seven sessions, held onto early gains after the Fed reaffirmed that it would maintain interest rates exceptionally low for an extended period. It was also underpinned by a rebound in Brent crude oil and a warning from Bank of England policymakers [...]
Friend of Breakout Micheal Purves of BCG Partners says the gold move is built to last as both a chart and fundamental perspective. “From a chart point of view, gold is clearly a buy and hold,” says the chief strategist. He contrasts gold with the broader equity market, which he characterizes as a “wolf” or [...]
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