GOLD IN THE NEWS
LONG TERM GOLD BULLS: MORGAN, GOLDMAN, STANDARD BANK
May. 16 - Concerns over the eurozone and political deadlock in Greece weighed on gold prices. The euro reached four-month lows against the dollar as Spanish and Italian bond yields leapt higher while European equities hit their lowest level this year. Nonetheless, gold showed resilience on the New York Spot Market today, trading $4.50 higher at $1,549.80 per ounce as of 7:06 a.m. Pacific » Read the rest.ANALYSTS EXPECT GOLD BUYERS; GERMAN GDP DATA LIFTS EUR
May. 15 - Gold prices were up modestly on a stronger euro after German GDP data beat expectations. Gold was up $0.90 as of 6:28 a.m. Pacific Time on the New York Spot market, trading at $1,558.40 per ounce. Spot silver was $0.05 lower, trading at $28.23 per ounce. » Read the rest.CEO EXPECTS INFLATION, IS SHORT MONEY, LONG GOLD
May. 14 - The precious metals and equity markets saw further losses today over continued uncertainty in Europe as Greece faces new elections and interest rates moved higher on benchmark government bonds in Spain and Italy. All three major stock indices lost approximately 1% of their value during trading today. Gold was $20.10 lower at 7:31 a.m. Pacific Time on the New York Spot market, t » Read the rest.GOLDMAN: GOLD MAY RALLY AS CURRENCY OF LAST RESORT
May. 11 - Gold prices came under pressure as the dollar rose on continued worries over Europe. Gold traded $12.10 lower at 6:13 a.m. Pacific Time on the New York Spot market, at $1,582.30 per ounce. Spot silver was $0.41 lower, trading at $28.73 per ounce. » Read the rest.SPROTT SAYS GOLD MAY HIT $2,000 BY YEAR END
May. 10 - Gold prices moved higher along with the euro after Europe's bailout fund approved a key payment to Greece and Spain took steps to bolster its banks. Greece secured funds needed for bond repayments, calming the fear of a Greek insolvency and an exit from the eurozone. Bargain hunting by Asian buyers also helped to support the precious metal. Gold was $9.40 higher, trading at $1, » Read the rest.ANALYSTS SAY GOLD MAY BE OVERSOLD ON EUROPEAN WOES
May. 9 - Gold prices dropped to a four-month low on continued worries over European solvency. The euro dropped sharply, pushing gold $19.60 lower to $1,586.20 per ounce as of 6:05 a.m. Pacific Time on the New York Spot market. Spot silver was $0.61 lower at the same time, trading at $28.96 per ounce. » Read the rest.CHINESE GOLD IMPORTS SURGE SIXFOLD
May. 8 - Gold and silver prices fell as the growing eurozone crisis weakened the euro and bolstered the dollar. Gold prices were down $27.10, trading at $1,612.40 per ounce at 6:41 a.m. Pacific Time. Silver fell $0.65, trading at $29.54 per ounce. Jürg Kiener, MD & CIO, Swiss Asia Capital, Singapore commented on the current gold prices saying that at current valuations, "it's a fan » Read the rest.EUROPEAN ELECTIONS REJECT AUSTERITY
May. 7 - The price of gold fell on a sharply lower euro after weekend elections in Europe resulted in a rejection of the austerity measures imposed by France and Germany in response to the regional debt crisis. Gold traded at $1,636.70 per ounce, down $6.40, at 7:40 a.m. Pacific Time on the New York Spot market with silver at $29.99 per ounce, down $0.45. » Read the rest.GOLD HIGHER AS U.S. JOB GROWTH SLOWS
May. 4 - The price of gold rose as job growth slowed in the U.S., raising expectations for further stimulus from the Federal Reserve. Gold traded at $1,643.90 per ounce at 7:10 a.m. Pacific Time on the New York Spot market with silver at $30.47 per ounce. » Read the rest.CITIBANK ANALYST SAYS GOLD MAY REACH $3,400/OZ.
May. 3 - The price of gold moved lower on a combination of stronger U.S. factory orders, a contraction of euro zone manufacturing activity, a stronger dollar and higher unemployment in Europe. The precious metal traded at $1,652.10 per ounce at 7:18 a.m. Pacific Time on the New York Spot Market with silver at $30.61 per ounce. » Read the rest.BOFA ANALYST SAYS GOLD MAY REACH $7,000/OZ
May. 2 - The price of gold fell on improved weekly U.S. unemployment figures U.S. that boosted optimism for the U.S. economy, lifting the dollar higher and pressuring gold. Gold traded at $1,637.30 per ounce at 7:41 a.m. Pacific Time on the New York Spot market with silver at $30.31 per ounce. » Read the rest.THE ECONOMIST EDITOR SAYS GOLD MAY REACH $3,000/OZ.
May. 1 - The price of gold reached a two-week high on Tuesday after five straight days of gains. The precious metal traded at $1,669.50 per ounce at 9:42 a.m. Pacific Time on the New York Spot Market, with silver at $31.44 per ounce. » Read the rest.MINING ANALYST - GOLD BULL MARKET THROUGH 2014
Apr. 30 - Upcoming elections in France and Greece and a European Central Bank meeting later this week boosted the dollar. Gold prices were modestly lower trading at $1658.50 per ounce at 7:40 AM Pacific Time on the New York Spot Market with silver at $30.91 per ounce. » Read the rest.U.S. GROWTH SLOWS - GOLDMAN SAYS GOLD MAY REACH $1940/OZ
Apr. 27 - The price of gold reached a two-week high as U.S. growth slowed, raising expectations of further quantitative easing. Gold traded at $1664.20 per ounce at 7:02 AM Pacific Time on the New York Spot Market with silver at $31.44 per ounce. » Read the rest.GOLD HIGHER AS BERNANKE SAYS FED MAY ADD STIMULUS
Apr. 26 - The price of gold was higher the day after Fed Chairman Ben Bernanke reiterated the central bank’s low interest rates through at least 2014 and left open the possibility of additional economic stimulus. Gold traded at $1654.40 per ounce at 7:13 AM Pacific Time on the New York Spot Market with silver at $30.96 per ounce. » Read the rest.ANALYSTS: FED QE3 HINTS MAY PUSH GOLD HIGHER
Apr. 25 - The price of gold was higher today ahead of the Federal Reserve’s meeting today. Gold traded at $1645.20 per ounce at 7:23 AM Pacific Time on the New York Spot Market with silver at $31.08 per ounce. "They [the FOMC] will discuss the prolonged weakness in the economy, leaving the door open to further easing, yet [they will] make no firm commitment to do so," Jeffrey Sica, » Read the rest.CENTRAL BANKS CONTINUE TO ACQUIRE GOLD
Apr. 24 - The price of gold was higher today on a lower dollar with gold trading up $10 per ounce as of 7:08 AM Pacific Time on the New York Spot Market and silver at $31.21 per ounce. The dollar moved lower after news that new U.S. home prices dropped sharply in February, reaching the worst level in nearly a decade. The Case-Shiller index of 10 major metropolitan areas fell 0.8% in F » Read the rest.MERCHANTS PREPARE FOR INDIA’S AKSHAYA TRITAYA FESTIVAL
Apr. 23 - Gold prices moved lower today on a higher dollar and lower euro with gold trading at $1631.50 per ounce at 7:44 AM Pacific Time on the New York Spot Market and silver trading at $30.78 per ounce. Concern that France's socialist party may win the presidential election has raised concern over whether the French-German coalition will continue amid Europe's continuing debt crisi » Read the rest.GOLD HIGHER AS IMF SEEKS TO EXPAND RESCUE FUND
Apr. 20 - Gold prices were higher today along with the euro on the expectation that G20 leaders will increase liquidity for Europe during their meeting this weekend. The precious metal traded at $1646.20 per ounce at 5:22 AM Pacific Time on the New York Spot Market with silver at $31.99 per ounce. » Read the rest.BOFA MERRILL SEES GOLD AT $2,000/OZ. IN 2012 ON QE3
Apr. 19 - Gold prices were higher today as markets responded to disappointing U.S. unemployment data and rumors of a possible French credit downgrade. The precious metal traded at $1646.30 per ounce at 7:21 AM Pacific Time on the New York Spot Market with silver at $31.89 per ounce. » Read the rest.
- 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..."
