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By Ilya Spivak, Sumit Roy |
March 1, 2011
Gold prices stalled on Monday as safe-haven buying faded along with fears that turmoil in the Middle East could derail the global recovery via spike in oil prices.
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By Ilya Spivak, Sumit Roy |
February 25, 2011
Gold fell $8.82, or 0.63%, to settle at $1,402.88. Prices are having trouble breaking through resistance in the $1,420's, a key technical barrier. Silver fell significantly, shedding $1.4, or 4.17%, to settle at $32.15.
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By Ilya Spivak, Sumit Roy |
February 24, 2011
Gold moved higher on Wednesday, adding $12.57, or 0.9%, to settle at $1,411.70. Like with oil, price action is being influenced by the events in Libya, with gold taking on its safe haven role.
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By Ilya Spivak, Sumit Roy |
February 14, 2011
Despite a late-week sell off, gold managed to eke out a gain last week, but price action remains lackluster as ETF holdings continue to decline amid a distinct lack of catalysts for the metal.
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By Ilya Spivak, Sumit Roy |
February 11, 2011
There continues to be a divergence between ETF holdings - which reached another multi-month low below 65 million troy ounces on Thursday - and prices, which have been rather resilient.
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By Ilya Spivak, Sumit Roy |
February 10, 2011
Gold was little changed on Wednesday, falling $0.38, or 0.03%, to settle at $1,363.65. In a testimony to Congress, Fed Chairman Bernanke defended the central bank's latest quantitative easing program, saying it helped to create 3 million jobs.
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By Ilya Spivak, Sumit Roy |
February 9, 2011
Gold moved $12.72, or 0.94%, higher on Tuesday. News that JP Morgan would start accepting physical gold as collateral for some transactions seemed to be the catalyst for the latest move, but impressive strength in silver also lent support to gold.
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By Ilya Spivak, Sumit Roy |
February 1, 2011
Gold shed $3.95, or 0.3%, to settle at $1,332.80 as some of the geopolitical risk premium came out of prices. In the bigger picture, gold remains in correction mode thus traders are likely looking at rallies as selling opportunities.
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By Ilya Spivak, Sumit Roy |
January 31, 2011
Gold and silver are inching higher after a volatile last week. Recall that the metal sold off aggressively before rebounding on Friday on the back of the Egypt turmoil. Gold-currency correlations faded as gold marched to the beat of its own drum.
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By Ilya Spivak, Sumit Roy |
January 27, 2011
Gold initially fell on Wednesday, but ended the session $13.53, or 1.02%, higher to settle at $1,345.85, the first gain in five sessions. Prices bounced off support near $1,325, the next key level that bears close watching.
