Tag Archives: gold stocks
Gold rallied to a record above $ 1,900 an ounce, Gartman said the prices will go “parabolic.”
Gold rallied to a record above $ 1,900 an ounce, the metal pushed overbought levels according to technical analysis tools, such as economist Dennis Gartman said the prices will go “parabolic.” Bullion relative strength index has topped 70 since Aug. 5, a signal to some investors who study technical charts that prices can be set down. Gold hugged the upper Bollinger band for most of this month, possible resistance to the signal, while a moving average convergence / divergence indicator and Elliot Wave patterns suggest prices are overloaded, said Ross Norman, chief executive officer of London bullion brokerage Sharps Pixley Ltd. (more…)
Gold steadies near live high, hang economy concerns
Gold held steady on Wednesday, hovering near a lifetime high around $ 1,778 an ounce beaten in the previous session, but further gains could be limited by a rebound in equities after the U.S. Federal Reserve pledged to keep rates near zero.
Stocks bounced in Asia after U.S. stocks jumped to unprecedented commitment by the Federal Reserve to raise interest rates to maintain near zero for at least two years, although the move confirmed fears that the U.S. economy will remain weak for much longer than previously expected.
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Gold may climb in the U.S., European debt concerns, survey shows
Gold may extend its climb to a record as guilt in the U.S. and Europe boost demand for the metal as a protection of wealth, a survey found.
Sixteen of the 32 traders, investors and analysts polled by Bloomberg, or 50 percent, said precious metal will rise next week. Nine predicted lower prices and seven were neutral. Gold for August delivery was 0.5 percent for the week at $ 1,597.50 an ounce by 11:02 yesterday at the Comex in New York. It reached an all-time high of $ 1,610.70 on July 19. (more…)
Gold, silver higher U.S. dollar falls
SYDNEY – Gold futures rebounded in electronic trading Monday as a softer U.S. dollar encouraged investment in commodities. Gold for August delivery GC1Q +0.88% earned $ 11.20, or 0.8%, to $ 1,493.80 an ounce on the Comex division of the New York Mercantile Exchange in Asian trading hours.
At the weekend, European finance ministers agreed to an installment loan for debt-ridden critical Greece, which helped buoy the euro against the dollar. (more…)
Gold Ticks up near 2-week high, dollar softens
Gold rims on Tuesday and held near the highest in two weeks on a softer dollar against the euro and the growing fear that Greece could end up in default of its debt.
BASICS
* Spot gold added $ 1.40 to $ 1,541.35 an ounce by 0041 GMT after rising as high as $ 1,545.90 an ounce on Monday, the strongest since June 9. Gold is still below a lifetime high around $ 1,575 hit in early May (more…)