Bloomberg reports that Gold futures rose on speculation that wide swings in currency markets will boost demand.
Articles Tagged "currency markets"
GFMS Group’s well-respected annual Gold Survey report is out for 2010, but what’s got most in the precious metal markets talking is the comments made by Philip Klapwijk, chairman of precious metals research at GFMS, during an interview with Reuters: “There are pointers to the fact that we are entering the final stages of a bull market.”
Gold bugs are smiling this week, especially after the price of gold surged ahead to a four-month high breaking past $1,150 an ounce Wednesday despite relative dollar strength and the bearish voices heard throughout the market last week.
Will gold ever be able to decouple from the dollar like it almost seemed to do earlier this year, or has its status as safe haven asset irrevocably shifted to the risk-asset class? Time will tell.
Further affecting precious metals prices of late is the fear paper currencies around the globe may be in peril, making gold as a hard asset much more attractive.
By Melissa Pistilli-Exclusive to Gold Investing News A number of factors, real or imagined, combined to move the gold price down to touch a two-week low at $1087.70 an ounce early Thursday and then back up to nearly the $1110 level in a matter of hours. Movements in the gold market are becoming less and [...]
By Kishori Krishnan Exclusive to Gold Investing News Bullion’s strength is being tested – this time round it is not just against the U.S. dollar, but also currencies across the board. As volatile currency markets and solid investment demand spur bullion buying, spot gold price ounce rose as high as $902.50, the loftiest price ever [...]