Today’s AM fix was 1,747.75 USD, 1,333.86 EUR, and 1,082.33 GBP per ounce. Yesterday’s AM fix was USD 1,737.50, EUR 1,337.36 and GBP 1,080.40 per ounce.
Gold rose $11.25 or 0.65% in New York yesterday and closed at $1,747.65. Silver rose to 26 cents to close at $32.95 for a gain of 0.8%.
Both precious metals saw further gains in Asia prior to determined selling which saw prices gradually fall back late in the Asian trading day and in early European trading.
Goldcore’s Head of Research, Mark O’Byrne was interviewed on Bloomberg Television's "The Pulse" with Guy Johnson about his outlook for gold.
GoldCore's Mark O'Byrne Interview on Bloomberg TV
Gold looks like it may rise in November after the October correction and could rise above $2,500/oz. by March 2013 or by September of 2013 due to fiat currency debasement and concerns about all fiat currencies.
Longer term, respected analysts are calling for gold prices above $5,000/oz, and much higher forecasted prices such as between $5,000 and $10,000 per ounce are not raising eyebrows as much as they have in the past.
SILVER Silver is trading at $32.96/oz., €25.35/oz. and £20.50/oz.
PLATINUM GROUP METALS Platinum is trading at $1,646.50/oz., palladium at $636.50/oz. and rhodium at $1,160/oz.
