Gold Price Hurt by Haven Status as Europe Drives Confidence

The following table includes the correlation between gold and the most popular currency pairs over various timeframes. A value close to +1 indicates a strong positive relationship between gold and the pair, while a value close to -1 indicates a strong negative relationship. Colored values indicate week-to-week changes of over 30%. Weekly...

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Comex Gold Ends Lower on Better Investor Risk Appetite

(Kitco News) -Comex gold futures prices ended the U.S. day session moderately lower Thursday, while silver prices were slightly lower. The Greek debt crisis appears to have stabilized for the moment, which made for calmer markets and better investor risk appetite, and that pulled away some interest in the safe-haven precious metals. Thursday...

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Gold Price Steady at $1,510 on Weak Jobless Claims

GOLD PRICE NEWS – The gold price held steady at $1,510.42 per ounce Thursday morning after news that jobless claims in the U.S. rose yet again in the most recent week.  The price of gold stabilized as data showed that applications for unemployment benefits rose to 428,000, an indication that the jobs market continues to remain weak. ...

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Gold Prices Dip on Manufacturing Data

NEW YORK (TheStreet ) -- Gold prices were heading lower as a strong reading on manufacturing activity in the Chicago area lessened the appeal of its safe-haven status. Gold for August delivery was down $4 to $1,506.40 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,514.80 and as...

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Gold Weekly Fundamental Analysis for May 30, 2011 – June 03, 2011

Gold ended the second consecutive week with gains on the shift in the market sentiment and high uncertainty and volatility. Gold was steady the entire week above $1,500 areas and rallied to the highest in three weeks sustaining most of its gains on haven demand amid the deepening debt crisis in the euro area and the outlook for a slowing...

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India: Gold falls to Rs 22,820 on global cues, silver slips by Rs 350

NEW DELHI: Gold declined by Rs 45 to Rs 22,820, while silver shed Rs 350 to Rs 57,250 per kg today due to a weakening global trend amid sluggish local demand. Traders said sentiments turned weak after both the precious metals recorded fresh losses in the global markets along with lack of buying interest at prevailing high levels in the...

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Gold Price Set to Challenge Record Highs?

GOLD PRICE NEWS – The gold price gained $1.00 to $1,537.50 per ounce Monday morning.  Volume was light with financial markets closed in the United States in observance of Memorial Day.  The price of gold heads into the new week on a strong note after surging $17.53, or 1.2%, last Friday.  The rebound in the yellow metal off...

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Nepal: Gold price soars to Rs. 37,125 per 10 gm to set new record high

The price of gold in the domestic bullion soared up to Rs. 37,125 per 10 gm (Rs 43,302 per tola) on the opening day of its transaction on Sunday. Following the rise in price of gold in the international market, the price has also increased by Rs. 125 per 10 gm in the domestic bullion market to break the previous record of Rs. 37,000 per...

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Gold Weekly Fundamental Analysis for May 23-27, 2011

Gold ended last week with the same mixed sentiment and the heavy volatility that remains the dominant theme for gold and commodities in general with the high uncertainty over the outlook. Gold recovered most of the losses endured in the week and on Friday continued to trade with high volatility with the strong return of the dollar on rising...

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Gold Technical Analysis for May 23, 2011

The gold markets had an extremely bullish day on Friday, and have confirmed the $1,480-$1,500 support level. As the trend is up, we are only buying or flat in this market. It appears that Friday shows that the market is ready to rise again. The market was up $22 an ounce towards the closing, showing real strength and conviction in the gold...

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Gold Daily Fundamental Analysis for May 23, 2011

Gold continues to be pressured by the volatile market sentiment and the shaky conditions across commodities markets, which accordingly is holding gold a prisoner to the dollar. On Friday, gold marginally moved higher of the day to only surrender the losses on a strong dollar comeback and amid the lack of data, where investors turned pessimistic...

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Mixed Outlook For Gold Next Week

(Kitco News) - Gold prices are likely to consolidate next week, holding within a range, as the market looks for further direction. Silver prices remain volatile, but the tone toward the metal remains negative, especially as recent economic data suggests a possible slowing of industrial demand. June gold futures on the Comex division of...

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Gold Price Hits New Euro-High, Adds 1.1% for Week vs. Dollar, as Stock Markets Fall, Silver Stalls

The Gold Price climbed $12.34 to $1504.34 in Asia on Friday, before it fell back off in London. Falling as low as $1486.80 per ounce by 10am New York time, the Gold Price then shot to a new session high of $1515.75 by early afternoon and ended the day with a gain of 1.2%, up by 1.1% on the week. Silver Prices surged as high as $35.56 in...

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Australia’s First-Quarter Gold Output Rises 6%, Surbiton Says

Australia’s gold production rose 6 percent in the first quarter as mining operations withstood cyclones that lashed the nation’s east and west coasts, a research group said. Output in the world’s second-biggest gold-producing nation rose 4 metric tons from a year earlier to 65 tons in the three months to March 31, Sandra Close, director...

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Gold May Gain as Speculation on Pace of Fed’s Tightening Increases Demand

Gold may gain in New York as speculation the Federal Reserve won’t start tightening monetary policy soon spurs demand for the metal. Fed Bank of Chicago President Charles Evans yesterday said improvements in the economy, labor market and the outlook for inflation aren’t sufficient for the central bank to begin reducing its record monetary...

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