DAILY COMMENTARY
August 15, 2011
Gold prices are near unchanged on the New York Spot Market as of 11:33 a.m. EST as investors took profits and bought stocks on better-than-expected second quarter growth data from Japan and positive news in the markets such as Google’s announced acquisition of Motorola Mobility. Gold prices continue to be underpinned
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August 12, 2011
Gold is consolidating on the New York Spot Market as of 10:57 a.m. EST, as investors moved into equities following the stock markets’ dramatic losses. Nonetheless, concerns over a global double-dip recession were keeping gold prices near record highs. The yellow metal has risen 24 percent this year on concerns over U
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August 11, 2011
Gold prices are consolidating on the New York Spot Market Thursday, reacting to a margin requirement hike from CME after gold hit a record of $1,817.60 overnight. Despite the margin hike, gold continues to trade in record territory as investors rush to the yellow metal in the wake of volatile trading in U.S. stocks. Sc
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August 10, 2011
Gold prices are continuing to hit historic highs Wednesday, trading at $1,775 an ounce as of 11:09 a.m. EST on the New York Spot Market. Gold prices have advanced this week as fears of a global recession and sluggish U.S. economy continued to suppress equities markets. Also bolstering prices was Tuesday’s pledge from
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August 09, 2011
With global financial markets in turmoil, gold has catapulted through a series of record highs in recent days with the price of the metal now trading at $1,730 an ounce as of 11:43 a.m. EST on the New York Spot Market. "The short run uptrend is intact," said VTB Capital analyst Andrey Kryuchenkov. "Panic dominates for now and even though we have rebounded a bit on the broade
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August 08, 2011
Following Standard & Poor’s historic downgrade of the United State’s credit rating, gold prices rose more than $40 on the New York Spot Market to trade at new record highs. Gold is trading at $1,708 per ounce as of 12:06 p.m. EST. "Slow growth in the U.S. and Eurozone debt problems are likely to keep prices und
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August 08, 2011
Following Standard & Poor’s historic downgrade of the United State’s credit rating, gold prices rose more than $40 on the New York Spot Market to trade at new record highs. Gold is trading at $1,708 per ounce as of 12:06 p.m. EST. "Slow growth in the U.S. and Eurozone debt problems are likely to keep prices und
... » Read the rest.
August 08, 2011
Following Standard & Poor’s historic downgrade of the United State’s credit rating, gold prices rose more than $40 on the New York Spot Market to trade at new record highs. Gold is trading at $1,708 per ounce as of 12:06 p.m. EST. "Slow growth in the U.S. and Eurozone debt problems are likely to keep prices und
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August 05, 2011
Gold is trading at $1,660 an ounce as of 3:48 p.m. EST on the New York Spot Market as longer-term uncertainty about the slowing economic recovery supported prices despite a positive U.S. labor market report. "There is a perfect storm for gold prices given the uncertainty about the debt crisis in Europe and the U.S., wi
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August 04, 2011
Gold prices again reached new record highs on Thursday on safe haven demand amid the latest data which indicates slowing economic growth in the U.S. Gold was also supported by Swiss and Japanese currency intervention. While prior record highs prompted some investors to engage in profit taking, the current economic unce
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August 03, 2011
Gold prices were again hitting record highs Wednesday, trading at $1665 an ounce on the New York Spot Market as of 3:08 p.m. EST as worries over the stumbling recovery caused investors to rush to the yellow metal as a safe haven. Prices are underpinned by concerns that a double-dip recession is increasingly likely and
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August 02, 2011
Gold surged to another record high on Tuesday, bolstered by safe-haven demand on investor concern over the fragile economy. The yellow metal is currently trading at $1,653 an ounce as of 3:35 p.m. EST on the New York Spot Market. Despite the successful passage of the debt ceiling agreement, The U.S. still faces the prospect of a credit-rating downgrade. “The flight-to-qual
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August 01, 2011
Gold is up on the New York Spot Market as of 11:12 a.m. EST, despite a tentative debt agreement. Congress is expected to vote today on legislation which will raise the U.S. borrowing limit while cutting the deficit by $2.4 trillion over the next ten years. Despite an agreement to raise the nation’s debt limit, economists warn the U.S. could still lose it’s triple A credi
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July 29, 2011
Gold traded at new records on the New York Spot Market as the House fails to pass a debt ceiling bill and GDP numbers signal a stalled recovery. Gold is currently up over $9 per ounce at $1,627 as of 11:21 a.m. EST.
The GDP report, which revealed a tepid 1.3% growth rate in the second quarter, raises the possibility of further monetary easing, thus, prompting investo
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July 28, 2011
Gold is consolidating on the New York Spot Market after reaching an intraday high of $1,631.20 an ounce on Wednesday on continued worries over the debt stalemate in Washington. Gold has risen 7.6 percent in the month of July prompting some investors to lock in profits after record highs. “Gold’s moved $150 this month, so there are going to be some investors who are going
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July 27, 2011
Gold and silver prices are hitting new highs on the New York Spot Market as of 11:13 a.m. EST. Investors bought these precious metals on renewed concerns about the debt ceiling after House Speaker Boehner’s debt plan failed to gain support from Democrats and several Republicans. With default looking more likely, a nu
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July 26, 2011
Gold is trading at $1,611 as of 11:01 a.m. EST on the New York Spot Market while investors await an end to the deadlock on U.S. debt talks. The eurozone debt crisis further supported gold prices. "President Obama tried to add some confidence on the debt talks, but people still have doubt," said Peter Fung, head of dea
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July 25, 2011
Gold is trading at $1,615 on the New York Spot Market as of 10:54 a.m. EST, as negotiations to raise the U.S. debt ceiling failed over the weekend. "With little optimism on U.S. debt talks at the moment, the gold price acutely reflects investor nervousness that limited progress will be made before the Aug. 2 deadline,"
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July 22, 2011
Gold prices are up over $15.00 on the New York Spot Market, trading at $1,606.37 as of 11:04 a.m. EST. Prices are gaining ground on lingering concerns with the lack of progress with U.S. and Greek debt problems. That uncertainty has prompted analysts to assert that gold’s long-term trend is bullish, even with any sho
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July 21, 2011
Gold prices hovered around $1,600 an ounce Thursday morning on the New York Spot Market ahead of a key euro zone summit while concerns persist over talks to raise the U.S. debt ceiling. Gold hit a record $1,609.51 per ounce on Tuesday on fears the euro zone debt crisis in Greece would spread to larger economies like Sp
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- S&P Capital IQ - Gold: $1,900 (in 2012) "Leo Larkin, metals and mining analyst at S&P Capital IQ, thinks that $1,900 gold might not be that much of a stretch [in 2012]. 'Gold has been ..."
- Citigroup - Gold: $2,300 - $2,400 (by end of 2012) "While we remain cautious on Gold in the near term...we continue to believe that the bull market remains intact...we believe that 2012 may be..."
- Leeb Capital Management - Gold: $2,500 - $3,000 (in 2012) "I'll give you my target for gold at the end of 2012, it's going to be trading somewhere between $2,500 and $3,000. This..."
- Global Hunter Securities - Gold: $1,800 (in 2012) "'What I am looking for is a gold price of $1,800 an ounce in 2012,' says Jeffrey Wright, senior research analyst at Global Hunter..."
- US Global Investors - Gold: $3,600 (by 2017) "'People get so caught up with the next three minutes for gold and they should really be focused on the next three years,' says Frank Holmes, ..."
- Goldman Sachs - Gold: over $1,900 (in 2012) "Wall Street investment bank Goldman Sachs predicts that gold's bull run will continue into 2012 with a low interest rate environment and..."
- CNBC - Gold: $2,400 (no period given) "Gold will top $2,400 an ounce. The long-term bull market in gold marches on. Gold won't make a straight shot to a new inflation-adjusted high. As long..."
- Nomura - Gold: $2,000 (by end of 2012) "Nomura has raised its forecast for gold prices to $2,000 an ounce by the end of 2012, from $1,800 earlier. The brokerage said the low-interest rate..."
- Morgan Stanley - Gold: $2,200 (in first half of 2012) "Gold will lead a rally in commodities in 2012 as Europe's sovereign-debt crisis continues to roil financial markets, spurring demand for ..."
- UBS - Gold: $2,050 average in 2012 "[Gold] remains one of the top commodity picks for 2012 as 'most of the factors that pushed gold higher in 2011 are not going away,' according to UBS..."
- Bank of America Merrill Lynch - Gold: $2,150 - $2,200 (average in 2012) "From a technical perspective we believe that the bull trend for gold remains intact… with gold having not yet met any of..."
- TheStreet.com - Gold: $2,500 (by May 2013) "I want to own gold here. I think gold is going to $2,500 eighteen months from now... Gold has been up for ten straight years and this going to be the..."
