With the Euro still trying to stabilize after its 2+month struggle with the Greek economy’s chaos and the USD still uncertain across major currencies, expect resistance to remain at around 1200. We’ll need to see more momentum before calling a break back up into the middle ground between June’s highs and this week’s lows.

Traditional correlations for gold remain unreliable as world markets still look for consistency and recovery off the Euro zone crisis and the redefinition of the USD. Chart analysis mirrors the market for now with current consolidation continuing in the 1180 to 1195 range in what could be a classic head-and-shoulders formation before an eventual uptick.

In production news, China, the world’s largest producer, reported a 6% increase on production numbers from the first half of last year. Canadian miner Red Back announced a 9 percent cut off original year-end production estimates due to water line damage at its Mauritania mine. The company expects ounce recovery on the loss in 2011. Zimbabwe’s largest producer, Metallon, announced plans to raise yearly production to 250,000 ounces per year in the short-term, 500k in the mid-term, and 1,000,000 ounces per year in the long-term in keeping with worldwide demand. Constitution Mining Corp announced the discovery of two major fluvial channels at their Peruvian Golden Sands site. Both channels contain gold grades well above the company’s mg per cubic meter standards for production. Production worldwide still on scheduled uptick toward 2012.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

July 20, 2010 - Gold for August delivery rose $9.60, or 0.8%, to $1,191.50 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday’s market close saw gold prices just below $1,182 an ounce, its lowest price since May 21.

While long-term investor interest in gold is predicted to be stable, Monday’s equity market rally and the strengthened U.S. dollar have resulted in a slowing demand for gold and other precious metals. Gold prices are now down 6% from May’s record highs—largely as a result of indicators that Europe is managing the debt crisis that dominated headlines in May and early June. Typically, investors’ appetite for precious metals—refuge assets—grows in proportion to signs of economic instability and currency exchange volatility.

The broad liquidation pressures confronting the stock and commodity markets are affecting gold prices as well. This morning’s discouraging housing market statistics reported housing starts having declined 5% to an eight-month low. Stock futures are indicating a lower Wednesday open on Wall Street.

Silver, with more industrial uses than gold, hovered at $17.71 an ounce today—up eleven cents from yesterday’s close. Platinum traded at $1,508 an ounce—down $5 from small gains in a late-day Monday rally.

Platinum and palladium futures were both up today as investors expressed confidence that demand for the metals (used in automobile catalytic converters) would increase. Nymex October platinum closed at $1,518.70 an ounce, up $15.10. September palladium rose $13.50, or 3.2%, to $440.40 an ounce.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

June 18, 2010 - Time, tide and gold prices wait for no man, and no economy, for that matter. As Friday morning dawned and trading commenced, the euro maintained its position, while the US dollar slipped a little. As the European economy limped on, gold prices broke last week’s record of $1,252 to touch $1,260 an ounce, bypassing the New York market’s opening prices. One might have thought that gold prices would plateau, considering investors’ not-unfavorable attitude towards risk in spite of what they feel about the existing eurozone debt crisis. The U.S. stock market has been up and down, but not off drastically this week.

The week gone by has seen gold prices reach record heights regardless of the position of the euro, the US dollar, equities, oil, Europe’s debt crisis and its impending effect on the global economy and just about everything that might have worried an investor.

As New York trading opened on a positive note this morning, gold rose by $12.20 an ounce, kicking off the day at $1,257, while silver added 30 cents, opening at $19.03. Other precious metals were not far behind with Palladium rising $1 to $481.00 and platinum steadying at $1,575.00.

Gold buyers can certainly enjoy the weekend, complacent about their investment, even as experts predict that gold prices will reach $1,271. In fact, the EW analysis at the end of the day is likely to refer to a target of $1,340, considering that the record $1,252.35 mark has been crossed so quickly.

There is no doubt that the gold market is surging towards an exceptionally exciting phase, as investors dump the euro and equities in favor of gold. Investment experts who would have once been a little skeptical about gold as a preferred investment are seriously recommending it today.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

June 16, 2010 - The on-going sovereign debt crisis in Europe seems to be the perfect backdrop for rising gold prices as investors’ continue to look for alternative investment channels. The dollar’s decline only added to the concern, and Spain’s and Portugal’s debt levels look as if they might only get worse, as stated by a draft European Commission document.

Gold prices surge ahead, strong in the face of the current economic situation, making investors feel confident in uncertain times. Matt Zeman, a trader at the LaSalle Futures Group in Chicago said, “It doesn’t hurt gold to have a weaker dollar”. He felt that the euro’s position will improve and Europe’s debt situation will support gold in the long term.

In the meantime, gold futures for August delivery went up $9.90 to $1,234.40 an ounce on the Comex in New York — the highest gain since June 7. In fact, June 8 saw a record gold price of $1,254.50 even as the euro saw a four-year low compared to the U.S. dollar. Gold prices have gone up 13 percent in 2010 while the euro has seen a 14 percent dip.

If we look at the history of gold prices, it shows that gold has always traveled in tandem with the euro when it needed a substitute for the U.S. dollar. However, this year, gold has deviated from this trend to see record high prices in all the main currencies. Frank Lesh, trader at FuturePath Trading LLC in Chicago, was quoted as saying, “There is nothing to say that the problems in euro-land are over. Any severe weakness in the euro will spark capital flow into gold,” And with good reason – since gold prices are certainly keeping the investors happy.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

June 11, 2010 - Reflecting a shift in trading by buyers and sellers who are rebalancing their accounts at the end of a busy week, the mid-afternoon gold price Friday hovered around $1,222, some $30 off a newly established record high set on Tuesday.

Gold reached $1,252.11 on Tuesday, June 8, the second time in as many months. The previous top mark was recorded on Wednesday, May 19, when gold reached $1,243.10 an ounce. The most recent record gold price is attributed to a proposed tax increase in England.

Gold first began its upward march more than a year ago when recession hit the U.S. economy. Debt concerns have since driven several European nations to the brink of insolvency, which led to May’s record-setting gold price. Now, with the news that gold coins are exempt in the new U.K. prime minister’s plan to double the capital gains tax rate, June gold purchases are blazing as British investors engage in what one observer described as “panic buying.”

But wherever there are economic losers, there are winners nearby, and long-term investors in the gold market are reaping the benefits of the increase in demand. Dealers in gold are caught up in the whirlwind accompanying a skyrocketing gold price, too. There’s simply not enough product to sell.

Supplies are stretched so thin that most gold coins are actually trading above market value by as much as five percent. What’s more, many European dealers claim they won’t be able to fill any purchase orders before August, leading some analysts to speculate on the chances for another record-setting gold price to come in the near future.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

June 7, 2010 - Gold prices have bounced right back from the recent “low,” thanks to the euro’s sliding value.

For the first time in four years, the euro reached a record low of $1.20, founded on the possibility that the sovereign debt crisis in Europe might extend to markets worldwide. While U.S. and European equities also dropped, the week ended with a loss in the commodities market. According to Frank McGhee, head dealer at Integrated Brokerage Services LLC, Chicago, when currencies drop in value, gold prices save the day. He says, “There is still a flight-to-quality demand.” In his opinion, gold is more likely to be stable compared to other assets.

Gold prices saw an increase of 0.2 percent this week after last week’s slump. Because of the euro’s devaluation, gold prices in euros saw an all-time record. Gold futures in New York saw a record high of $1249.70 on May 14, 2010, staying right ahead of equities, bonds and other commodities.

Michael Lewis, head of commodities research at Deutsche Bank AG is confident that gold prices will touch $1,700 next year as a result of the demand from Asian central banks. He also referred to the rapidly increasing investment in funds traded via the exchange. According to data from Bloomberg, the global holdings of gold ETFs amounted to 2008.1 metric tonnes, a whopping 78 per cent of last year’s global production.

In the meantime, precious metals that are not doing well this week are palladium, with prices down seven percent this week. Platinum futures dropped 1.6 percent while silver prices saw a drop of 6.1 percent.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

June 4, 2010 - Gold prices remain steady as US stocks drop this morning on the combined effects of weaker than expected employment data and fresh rumors of continued troubles in Europe’s credit markets. Confidence in the economic recovery is seen as waning as fewer US workers were hired in May than expected.

“Hiring looks soft,” remarked chief US economist at JP Morgan Chase & Co., Michael Feroli. “It does raise some red flags that businesses are still pretty cautious.” Federal Reserve Chairman Ben S. Bernanke stated joblessness is among the “important concerns” for the hesitant economic recovery.

On the heels of the worst economic slump since the Great Depression, the flailing US recovery is seen as bullish news for the overall upward trend in gold prices. Holdings in the SPDR Gold Trust, the largest bullion backed Exchange Traded Fund, rose to a record 1.289.84 tons yesterday, said the company’s website.

In response to worsening fears over the credit and bank crisis in Europe, Afshin Nabavi, senior vice president at MKS Finance SA in Geneva said, “Gold at $1,300 an ounce could be a possibility this year if there’s no [positive] change in the economic situation.”

The combined forces of a slower than expected US recovery and deepening trouble in Europe are widely considered to be contributing factors to the bull market in gold. Short term, the four-day work week saw little change in the spot gold price following the prior week’s rally of over $30. For year-to-date, gold has seen a rally of just over $100 per ounce--from a January 3rd close of $1,101 to today’s value of approximately $1,204.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Weekly Market Views, a newsletter published by the Dubai Gold and Commodities Exchange and authored by the CPM Group, expects gold prices to fluctuate between $1230 and $1180 this week, “although there still is potential for gold to head toward $1250.” They attribute last week´s gains to the contract roll in the New York market, and note that slightly quelled fears over the euro-zone sovereign debt crisis “could allow for prices to ease a bit this week.” But they add that more financial market instability as well as geopolitical tensions “could push prices sharply higher.”

It was, however, precisely the latest bad news from the euro-zone crisis that spurred the rise in gold prices at the end of last week. Fitch´s deduction of Spain´s credit rating from AAA to AA+ on Friday sent investors scurrying for gold. As Precious Metals Weekly (a Heraeus Trading newsletter) notes, after a recent fall-off in gold prices, “problems of the Spanish banking sector pulled it back up to $1,250 an ounce (it was suddenly back being a crisis-metal).”

The same Heraeus newsletter reports that generally high gold prices have attracted new mining industry investments, and that a recent gathering of mining industry representatives in Lima, Perú, ended in a statement of intent by several major companies to invest in new mines and increase overall production.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The Dow Jones Industrial Average gained 76.93 points (0.77%) to climb to 10,120.68 points. The Dow suffered a shut-out since last Thursday. Not one of its 30 stocks posted a gain. As of yesterday, the Dow had lost 4,120.78 points (29,1%) since reaching its 2007 high on October 11.

Standard & Poor’s 500 made 10.27 points (0.96%) from yesterday to reach 1,084.30. The rise was largely attributed to nine month low closing of the MSCI World Index along with US home sales and durable order’s data signaling that the US might be straighten before a ‘Lehman-Style’ European crisis.

The Nasdaq chalked up 22.47 points (1.016%). Last Thursday the Nasdaq suffered its largest percentage drop since March 2009. This year’s high was reached on April 22nd at 2,706.67 it has declined by 502.66 (18.5%) to 2,204.01.

Thursday’s trading session was described as very choppy as in previous days. Investors’ attention, they said, were caught between “concerns about global growth and willingness to scoop up shares beaten down in the recent sell-off.”

The Wall Street rally today is mainly due to the global growth forecast for 2010 by OECD. This is a twice a year report by the Paris-based organization. They are forecasting a 4.6pc in 2010 and 4.5pc in 2011.

Investors welcomed any news that will dispel uncertainty in the market.

“As long as people feel like they know what the rules are, they feel like they can position themselves to make money,” said Peter McCorry of Keefe, Bruyette & Woods. “It’s the possibility that the rules might change in the middle of the game that scares people.”

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

In Europe, stocks followed the US trend. Stoxx Europe 600 declined by 5.6% to 237.11 from Tuesday’s high of 251.30.

Adversely to the struggling stock market performance, gold maintained its pace. It rose to $1200.00 for a gain of 23.00 (2%) an ounce. Gold watchers believe that it will take more to bring down gold from its lofty perch at the moment.

The stock decline brings news concerns to the mounting deficits in the Euro zone. Art Hogan from Jefferies Group Inc, New York, said: “We are back in uncharted territory. Korea is a major distraction at a time of global uncertainty. The market is selling for a bigger reason. There’s concern about the banking industry in Europe. The Libor rate has spiked, which signifies that credit is slowing in an interbank basis. The market is trying to price in the worst-case scenario, of not only lending freezing, but of a major bank becoming insolvent.”

Investors, though, are hesitant to get back into stocks after experiencing the housing bubble and the 2008-2009 recession that nearly became the Great Depression.

Mickey Cargile of WNB Private Client Service said that “many investors who got out of markets in the huge 200-09 market sell off still haven’t returned and it’s unclear when that might change.”

Cargile added that investors “got out on fear ad without a strategy. Now they need a strategy to get back in and they don’t quite know what to do.”

It is not farfetched to guess that many of these investors may have already placed their money on gold.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

In all, central banks have sold only 7.2 tons of gold since September. Don’t expect this limited supply of gold from the world’s central banks to affect the overall market much. Analysts say there are too many other issues keeping the price of gold flat right now. Mining companies aren’t really finding new sources of gold, and investors are holding back, waiting for key news on interest rates in the U.S. and a bank bailout package making its way through the Greek legislature. Also as more and more people look to their scrap gold as a kind of personal bailout in a the down economy, we’re seeing scrap gold sales keep up with any slight increase in demand for the first quarter of the year.

Some analysts believe the weakness of the euro could increase interest in gold reserves around the world, while others say the strength of the dollar, coupled by the euro’s weakness, will continue to keep gold prices flat. The amount of gold traded last week was lower, indicating that interest in gold is fading while investors entertain too many questions about the near future of the gold market.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold’s run was forecast last week by one analyst who noted that the slight slowdown after the weekend holidays was to be expected and temporary. “Gold is taking a breather, he said. “It will bounce back.”

A parallel run was also recorded in the stock market last week. Before the close of trading day, the Dow Jones Industrial Average surpassed the 11,000 mark but finally settled at 10,997.35 an increase of 70.28 (0.64%) over the previous day. It was DJIA’s highest in 18 moths. Nasdaq gained 17.24 (0.71%) and S&P 500 in creased by 7.94 ().67%).

Meanwhile, the Euro, which has been lethargic for some time, suddenly came alive and turned the tables on the US dollar. It topped the dollar by 0.8% for the first time in almost a week. The Euro had been losing to the dollar and other major currencies this year partly on account of the pressure coming from the Greek Crisis. But reports last week about the agreement reached by finance and central bank officials of member countries of the European Union buoyed the Euro. No details of the agreement had been reported yet but the news was enough to invigorate the European currency.

The gold price is expected to continue its onslaught this week under encouraging signs of an economic recovery both in the US and worldwide.

 Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Wednesday’s sales figure was a slip from yesterday’s sales that reached the vicinity of $1136. But one analyst commented that gold, along with other precious metals, might “consolidate after ‘profit taking’ following holidays at the weekend.”

Another analyst said that “gold is taking a breather after a good run…” and will “…bounce back.”

The same slew of factors continues to influence gold’s performance. The unsolved Greek financial crisis brought down the Euro for the third day, allowing the US dollar to gain against the Euro. It has been reported that so far, the crisis had cost the Euro 6.4% against the US dollar this year. Greece this month, according to published reports, will launch a multi-billion-dollar bond in the US, a move that many said would put more pressure on the European currency.

Crude oil stayed close to $87 a barrel, its highest in over 17 months brought about by increased demand due to increased economy activity. The stock market is on high energy level. Demand for commodities has risen worldwide, directly influencing gold prices. The US unemployment has been improving. Speculation is rife that the Federal Reserve would not touch the record-low interest rate for fear of jeopardizing the economic recovery that is just teeing off. The speculation made equities attractive to investors. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Another negative indicator that also helped lift up the price of gold was crude oil prices that rose to $85 a barrel.

Positive indicators as well extended a helping hand to gold – the announcement by the US Labor Department of a decrease by 6,000 Americans lining up for unemployment benefits, the six-year high manufacturing diffusion index reported by Industrial Supply Management (ISM), higher commodities demand worldwide and the general impression of a recovering US economy.

Mark O’Byrne, executive director of GoldCore Ltd. considered the “higher quarterly close …important technically and shows the momentum and the medium- and long-term remain upward.”

An encouraging sustained performance by gold this 2010 has long been awaited by investors. After the record performance in the past decade, investors have been using the closing figure of $1100 as the yardstick to measure gold’s behavior. The figure was dubbed the “psychological level” not just for gold to cross but to keep a safe distance from.

The quarter ending performance was significant because it was a sustained performance that spanned a relatively long period. It was a first for gold in the first quarter of 2010. Gold’s behavior in the past several weeks was nervous and hesitant and eventually dipped below the psychological level at $1073.85. They were weeks of fast-changing investor expectations shuttling between hope and frustration.

The first quarter performance by the price of gold had tilted the balance to hope’s favor. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The report showing sales of previously occupied US homes fell in February for a third straight month drove the appeal of precious metals as an alternative asset. The greenback retraced its gains after climbing as much as 0.5 per cent against all six of the major currencies.

"The dollar looks less attractive after the housing numbers," said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. "You've got the bargain hunters out to buy gold after the recent slide."

Gold prices for gained 0.4 per cent, to $US1103.70 an ounce on the Comex in New York. Yesterday, the metal broke the $1100 psychological support level, posting a low of $US1092.10, the lowest price since Feb. 25.

Purchases of existing homes dropped 0.6 per cent from January to a 5.02 million annual pace, the lowest rate in eight months. Median prices are also down 1.8 per cent from the previous year.

Rhona O'Connell, the managing director of GFMS Analytics, said today in a report, “Loss of confidence in economic growth -- and economic policies -- is expected to rekindle investor demand for gold as the year wears on; especially if a double-dip recession develops,"

In 2009 marked the ninth straight year of the current Gold bull Cycle. Gold Prices reached an all-time high on Dec. 03 at $1127.50 and closed the year out posting a 24% gain as the dollar fell 4.2%.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Looking ahead to next week, we could see some much needed relief in commodities and especially in the Precious metals sector. US CPI figures are expected to show the annual pace of core inflation slowed to 1.4%, this matches a five-year low originally set in August of last year, and this would be supportive of a bearish scenario. With short-term traders looking to take profits, and a majority of retail investors turning their attention to Congress and the Health Care reform bill next week, there is an apparent absence of upward pressure on the current Gold price level.

Technically, prices are showing an Inverted Hammer candlestick (a common bearish reversal signal) along with confirmation on the following bar. More significantly, this is after testing resistance at support-turned-resistance marked by a rising trend line set from the swing low in early February.

Although long tern Gold prices appear bullish, we could see dips in spot pricing over the near term. These price corrections are what long-term investors look for when adding to their positions or attempting to get into a position if they missed the initial buying opportunity. The week ahead could create some opportunities to “buy the dips”.

If you would like more assistance in timing an entry in the Gold market, contact one of our Gold Price experts, who will be more than happy to assist you.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The United States is facing what looks to be impending inflation. As Bob Tonachio, CEO of Robert James & Associates, Inc says, “If money supply grows faster than the economy that will create inflation as it is impossible for the economy to grow anywhere near the vertical spike in the monetary base, inflation is coming.” Gold prices have historically moved up as inflation devalues the dollar.

The struggles in the European Union are adding to the optimism for gold prices. Jim Willie CB, a statistical analyst for the Golden Jackass says, “If Greece is expelled as in my forecast, the Euro will look trim, especially upon instant expectation of expulsion quickly of Italy and Spain. If Greece is rescued, then a new wave of profligate bond rescue will indeed occur. But the cloak of uncertainty will work to lift the defective Euro currency and lead to a short cover rally. Either way, the US dollar will resume its decline, the tail on the Euro dog.”

He continues, “My best sources indicate without any equivocation that German leaders will talk of solidarity, say all the right things, but offer no aid to Greece as it suffers the desired default and removal from the European Monetary Union that shares Euro currency usage. The end to German sponsored welfare has been planned and sealed.” Such a chain of events would likely send gold prices up as well.

With China vowing to carefully evaluate adding more gold to its holdings and uncertain economic conditions in the US and Europe, gold prices are likely to resume their climb.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

When asked about his prediction, Embry said, “I would say at least 30%. I said that I thought it would be the best year to date. We've had nine years consecutive higher year-end gold prices and the best year in that span for a year's return was 31%. I think this will be the year that we exceed it in this, the 10th year of the bull market.”

He believes that investor confidence is building because a greater number of people understand the financial danger in the US. “(The US) government spent dramatically more money and the results are a budget deficit I never thought I'd see in my life. I'm shocked at the numbers.” He continues by saying, “When you can't depend on your government paper as a safe haven, I think that fact puts gold in a much better light in more people's eyes.”

Regarding hyperinflation Embry says, “I think the far greater risk is hyperinflation because I believe that these guys that are in control today have seen the depressionary '30s, and they will move heaven and earth to prevent that outcome.”

Embry finishes by saying, “When inflation rears its ugly head and I suspect that will be sooner rather than later, the market will force interest rates higher in the US.” When this occurs, investor confidence will likely push gold prices much higher.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

A rally early in the US trading session by the euro may be a direct result of meetings over the weekend in Berlin between Greek Prime Minister George Papandreou and German Chancellor Angela Merkel. While no specific details were announced, French President Nicolas Sarkozy said the euro region is ready to rescue Greece if necessary. “If the Greek situation calms down, people may not be as interested in owning hard assets,” said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago.

News of a rise in German Industrial output was also considered to be factor in the early gains by the euro, as the country posted a 0.6 percent increase. While economists had forecast a 1 percent gain in a Bloomberg survey, the number was still positive as it represented continued growth.

Speaking of today’s drop, James Moore, an analyst for The Bullion Desk said, that gold prices may “benefit from further investor diversification in coming sessions, with dips continuing to be seen as bargain-hunting opportunities. Risk appetite remains steady.” 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

As reported by Franklin Sanders of The Moneychanger, “Gold prices successfully tested $1,090 support last week and battered its way through resistance at $1,100, $1,118, $1,125, and $1,132, not to mention that in February $1,120 had turned gold back. Yesterday gold discretely corrected, bounced off $1,125 and today closed over $1,132 at $1,134.80.” Many traders use technical indicators such as the Fibonacci Ratio to determine key points of resistance and support for gold prices.

Mr. Sanders continues by saying, “All these things set the gold price up to challenge the January high at $1,150.00 closing. That will be the final witness that gold has entered a new rally, ready to test its mettle once more against the $1,226.40 all time intraday high.”

The basis for this belief is the falling wedge pattern which some analysts identified from December 3rd to the end of February; analysts such as Mr. Sanders suggest that this pattern “has broken out upside. Another harbinger of higher prices.”

The US dollar, which generally trades against gold prices, appears to have lost momentum for its rally. Sanders states that the dollar has “double topped at 81.20+ this week. To resume its uptrend the US Dollar Index would have to climb over 81.30. Fall will accelerate once it pierces 79.80, then question will become, Can it hold above 78.50?”

As trading patterns continue to be met, the gold price may be preparing to challenge both the 2010 high and the all-time of the precious metal. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

In the latest report by the Department of Labor, the nonfarm payrolls only lost 36,000 additional jobs, down from the expected 68,000. The announcement was also made that the unemployment rate dropped 0.1% to 9.7%. Unemployment does not directly affect gold prices, but it is an indicator of continued weakness in the US economy.

Since 1950, according to Macquarie’s equity research team, the Federal Reserve has never raised interest rates with unemployment above 7.7%. This historical trend is confirmed by Fed Chairman Ben Bernanke’s comment that it is necessary to continue “exceptionally low” interest rates for an “extended period” of time. This commitment to low interest rates and a low inflation rate are credited by many analysts with contributing to the current increase in gold prices.

As PIMCO’s Bill Gross states, “Inflation expectations remain relatively subdued, providing the Fed cover to delay the normalization of monetary policy. Negative real interest rates have historically been associated with gold bull markets and the longer real rates trade below zero the faster the currency degradation - all of which provides a tailwind for a higher gold price.”

Gold prices are likely to benefit as the current unemployment rate stays near 10% and the Fed’s continues its efforts to keep rates low for an extended period of time, so check GoldPrice.net often for updates or subscribe to our RSS feed to stay up-to-date with the latest economic news. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

According to Commerzbank, investment and jewelry demand are helping to support the current price. "Alongside the currently robust jewelry demand from India and the high interest of speculative financial investors, ETF demand could also support gold price in holding up against the firm U.S. dollar and in advancing toward the $1,200 an ounce mark," a report from Commerzbank stated.

Although overall gold demand was down 11 percent in 2009, the 4th quarter increased nearly 27 percent over the 3rd quarter as demand for both investment and jewelry grew. For the year, investment demand was up more than 7 percent and exceeded jewelry demand for the first time since 1980, according to AngloGold Ashanti Ltd., Africa’s largest producer of gold. While first quarter results for 2010 have not been fully written, analysts suggest that demand for both sectors are continuing to rise, as indicated by the Commerzbank report.

According to the World Gold Council, how much demand can support rising gold prices remains to be seen. The WGC states in a recent report that, “Industrial and jewelry demand are expected to strengthen as the economy improves, but will still be hampered by the lingering effects of the recession.” Visit GoldPrice.net often to stay updated on circumstances surrounding the gold market. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

According to the European Central Bank, Greece’s debt to gross national product has grown to 113%, affecting both the national economy and the price of the euro. “The currency market continues to dictate direction,” Andrey Kryuchenkov, an analyst at VTB Capital in London, said in a report. “The problem with Greece’s financial health will not go away instantly. A temporary rebound in the single currency could well propel gold prices higher.” As of 11:00 AM EST today, gold prices stood at $1,142.60, up $7.10 for the day.

In addition to the budget cuts, the Greek Prime Minister also announced that the government will cut 30% from holiday payments civil servants receive. This move is seen as an attempt to gain additional favor with European Union leaders, who have demanded additional austerity measures from the government in Athens prior to any financial assistance from the Union.

Gold prices have climbed from near $1,098.00 per ounce last week as analysts see a drop in risk aversion to gold. The US Dollar Index currently stands at 80.33, a decline of 0.160 for the day. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Bradley George and Daniel Sacks of the Investec Global Gold Fund are among those who see the $1,300 price level as being possible. "We believe the result of January's US Federal Reserve Open Market Committee meeting is more bullish than bearish for bullion going forward, say George and Sacks. "Although the outlook for inflation is stable according to the Federal Reserve's statement, we believe the reaffirmation by the Federal Reserve that rates are likely to remain low for an extended period, which should be supportive of gold prices in the long term."

Plans by central banks to slowly add gold reserves may benefit the market as well. George and Sacks said publicity involved with large governmental purchases drive down prices and "instead they may be pursuing a strategy of steady accumulation over time in the secondary market," the managers said. Such moves help to steady demand in the market. Finally, there is increased demand in both the investment and jewelry sectors. This rising consumer demand adds pressure on available supplies, potentially driving prices higher.

With these and other factors, Sacks and George see a compelling case that gold prices could climb $1,300 per ounce this year, well exceeding today’s midday spot price of $1,115.10 per ounce. Investors who see the recent correction as the new floor for prices should consider making purchases before any potential price increases occur and lower any possible profits. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

At 12:00 PM EST today, gold prices stood at $1,103.30, up $5.10 for the day. New unemployment claims for last week reached almost one-half million and sales of new homes plummeted, leaving the stability of the US economy uncertain and pushing up the price of gold, silver and platinum. These gains are welcome news to investors, who have seen losses over the past two days that eliminated part of the gains experienced during the month of February.

These gains are viewed as a positive sign for gold. News of a drop in consumer confidence and an announcement that the Federal Reserve still views the economy as fragile had weakened the risk appetite of some investors, leading to gold’s drop this week. The return above gold’s resistance point of $1,100 per ounce suggests that in spite of the headwinds hindering gold, it is maintaining fundamental strength and positioning for another move upward.

With gold prices recovering, now is an opportunity for investors to get back into the market. Although analysts predict some volatility, many expect prices to begin climbing again, as they regroup on the weak US economy data and once again offer a safe-haven investment to buyers. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

As announced this week, the Consumer Confidence Index dropped to 46, representing its lowest level in the past 10 months. This drop is particularly troubling for the Obama Administration, as it has been attempting to assure Americans that the economy is improving despite unemployment figures that continue to increase and the real concern of inflation. Bernanke’s testimony is supposed to allay the inflation fears by claiming that the government can control it, not by denying its potential arrival.

For investors, today will likely set the tone for upcoming gold prices. Should Bernanke convince Congress and the American people that the risk of inflation is minimal; the upcoming gold rally may evolve more slowly. Should his comments confirm inflation fears and lead people to look for safe investment alternatives, prices could raise quickly as people move to gold, the traditional safe haven against inflation.

Investors should continue to watch the day’s events as news from Capital Hill could offer a chance to either pick up some gold at lower prices or witness the start of the next strong gold rally. After an early fall on the day, gold prices are looking to climb as the US economic situation is being scrutinized. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

At 4:00 PM EST today, gold prices stood at $1,110.50, down $3.10 for the day. Analysts believe that the rate hike coupled with the public gold sale announced by the International Monetary Fund are pressuring gold prices, leading investors to take profits before a price drop can occur.

The rate hike was seen as an effort by the Fed to influence public opinion on plans to control inflation, as very little money is actually lent to banks using this discount rate. The general concern at the Fed appears to be more geared towards taking small, initial steps before what some have called the “great money draining” takes place.

While the actions by the IMF and the Fed may initially cause a dip in gold prices, the long-term effect could be beneficial for gold. Concerning inflation, Fed Chairman Ben Bernanke recently said in a statement before the US House of Representatives, “We are quite confident that we can raise interest rates, reduce the money supply and do that all in a timely way to avoid any inflationary consequences.”

Interest rates have sat at zero for an overextended period, and the imminent raising of the key lending rate will play on the value of the dollar, whether Mr. Bernanke likes it or not. Gold is the traditional investment hedge against rising inflation, and investors should consider taking new positions prior to any increases in gold prices. While the discount rate hike shook prices, the long-term outlook could still be viewed as very positive for gold. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Greek finance minister George Papaconstantinou has described the task of trying to save Greece’s economy as ‘changing the course of the Titanic’, saying that it will take time and that the country is currently doing enough to correct its fiscal problems. This turmoil has plunged the EU into a downward economic spiral, with several other members experiencing problems and the currency plunging to its lowest level in nine months.

This chaos has had an invigorating effect on gold prices, as the metal snapped out of a two month correction to post gains in each of the past three weeks. As of 1:00 PM EST, gold stands at $1,115.60, down $2.50. This continues a strong run as investors flee the euro and look to gold as an alternate investment option.

Investors should continue to look at adding to their holdings as gold prices remain strong and many analysts look for steady gains in the months ahead. Gold is likely to be a preferable alternative asset option over the US dollar as concerns about inflation in the United States continue to arise. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Although gold investment has recently been soft in the US as the dollar experienced its rally, investors in countries with currency issues have increased their gold exposure as a hedge against inflationary pressures. While there has been a short-term rally in the dollar, long-term gold fundamentals continue to strengthen as sovereign debt problems in the US and other countries erode investors’ confidence in currency-based assets.

Recent analysts’ reports indicate a growing sense that gold prices are preparing for another rally. Citigroup Inc released a report suggesting that after clearing the $1,100 price point, gold had broken through its resistance and would likely move towards $1,160 per ounce in the near future. As the dollar settles down from its recent climb, many expect gold to be the next to rally.

With gold prices breaking through an important resistance point, many experts see this as a promising time to purchase gold. Rising prices signal potential profits and with some analysts predicting spot prices of $1,350 to $1,500 per ounce this year, profits could be very lucrative for investors who get in before prices increase. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Gold prices have hovered near the $1,100.00 per ounce price throughout the morning trading after going over the key mark in early morning trading. At noon EST, the US Dollar Index was also higher, trading at 80.33, up 0.116. "Investors seem to be partly offloading euro-zone risk equally in gold and the U.S. dollar," said Pradeep Unni, senior analyst at Richcomm Global Services. "This is specifically the reason why gold is firm despite the greenback also being strong.

While both commodities are currently tracking upward, some analysts see that as only temporary. Unni added, "Past data suggest that this decoupling phenomenon is more of a temporary development and (gold and the dollar) will switch to their inverse correlations in a short time frame."

The turn against the euro appears to be directly related to a hesitancy by EU leaders to commit to a plan of action ahead of planned budget deficit cuts by the Greeks. "Traders and investors will be looking for further expansion on the EU's "support" for Greece's debt problems, with the generally negative outlook for the PIIGS (Portugal, Italy, Ireland, Greece and Spain) likely to further question the cohesion and direction of the euro," said TheBullionDesk.com analyst James Moore.

While gold and the dollar typically have an inverse relationship, the reluctance of the EU leaders to commit to a plan of action may create a continued decoupling. The euro has been trading nearly its nine-month low while both dollar values and gold prices rise, suggesting continued gains for both in the absence of a plan from Europe. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

While investors have been wary due to the lack of a clear plan in Greece, many investors are making purchases on the basis of strong fundamentals. Gold is currently oversold as evidenced by the Relative Strength Index and recent trading patterns have suggested an increase in prices. Generally speaking, when investors see prices rising, their risk aversion drops and demand goes up.

Such was the case this week as the lack of a plan out of the EU, the continued drop in first-time US unemployment claims, and efforts by the Chinese government to dry up surplus funds in their economy failed to diminish demand for gold. Many analysts are suggesting that gold is positioned for another rally and a gold price increase in a week when the US dollar rose as well gives many people a great sense of optimism.

The week ahead looks favorable for gold prices as well. The Chinese New Year and the President’s Day holiday in the United States will bring traders back and firm details out of the European Union should lower risk aversion. Gold appears to be currently on an upward track, and investors should consider taking new positions in order to reap the benefits of its possible climb.

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Both gold and the dollar have been affected by the less than stalwart support from the EU for the sovereign debt crisis in Greece. The EU promised they "will take determined and coordinated action, if needed, to safeguard financial stability in the euro as a whole." While encouraging, the statement gave no information about direct action and left speculators scurrying back to gold and the US dollar for protection.

In addition, the US Labor Department announced that first-time claims for jobless benefits dropped 43,000 to a total of 440,000 for the week; analyst predictions had been for a smaller drop of only 15,000. This news was met with mixed reviews as the reality of continued job losses was tempered by those losses being lower than expected. The US government has been struggling to produce positive economic news in a week where Federal Reserve Chairman Ben Bernanke expressed continue concern about rising inflation and announced potential measures to counteract it.

Following the Chinese, Japanese and American holidays, many analysts are looking for continued upward movement in gold prices as renewed demand, risk appetite and positive fundamentals suggest a rally. Investors who are liquid should consider buying new positions prior to any rise in prices. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

In a statement released by EU President Herman Van Rompuy, the EU pledged to “take determined and coordinated action if needed to safeguard the euro area as a whole.” As details are made available concerning the specific plans for Greece and the other unstable economies in Italy, Portugal and Spain, investors’ appetites for investment in the euro will likely join the optimism of gold traders and push the currency up as well, a move that would likely impact the dollar in a negative sense.

Arrival of such news has been a strong force on both currencies and commodities such as gold. The US dollar has enjoyed two months of gains which are generally regarded as a statement against the economic predicaments in these countries. During the same time, gold has suffered through a correction and lackluster trading due to many viewing the dollar as the hedge asset of choice.

Gold prices are moving up today with the statement of support by the EU for the economic problems of its member countries. Investors should consider taking new positions as specific details about the recovery plans could spur additional price increases in gold. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The London Telegraph has reported that, “Germany is preparing to drop its vehement opposition to a rescue package for Greece, fearing that a rapid escalation of the debt crisis in Southern Europe could endanger German banks and damage the euro.” While this creates a potential solution, the lack of a definitive agreement has helped to push the US dollar back up, with the US Dollar Index currently at 79.96, or up 0.26 from yesterday. At 12:45 PM EST, gold was trading at $1,073.60, down $5.00 from yesterday’s close.

Mixed economic news from the US has come out today, with details of Fed Chairman Bernanke’s testimony before the House and US trade deficit numbers finding their way into the headlines. Bernanke reaffirmed his concern about inflation by ensuring the House that the Fed has a plan in place to fight it, suggesting increased interest rates and reduced money supply as steps that the Fed would utilize to combat further declines in the dollar. News of the trade deficit climbing from $36.4 billion to $40.2 billion in January also came out today, further impacting efforts to strengthen the economy.

While the lack of a Greek bailout seemed to have the biggest initial impact on lower gold prices, Bernanke’s confirmation of inflation concerns and the growing trade deficit may end up driving gold prices higher. Investors who are liquid should make purchases as traders consider all of the day’s news and make decisions that could further affect gold prices. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

At mid-day, gold prices had risen to $1,076.90, an increase of $14.50 from Monday’s close. Friday’s close of $1,052 represented a fall to a new three-month low for gold and triggered automatic sell orders set for such an event. With prices appearing to find their bottom and the RSI (Relative Strength Index) dropping to 38.5, gold prices have started climbing.

April delivery gold on COMEX has also been rising to $1,066.2 on Monday and $1,079.8 at 1:00 PM on Tuesday. August deliveries held firm at $1,192 as prices are expected by many to rise during the next few months.

This news is favorable for many investors, as gold prices have dropped around 13% since reaching their all-time high of $1,226 in December. Profit taking and technical trading led a number of investors to sell, and a rise in the US Dollar Index was also considered a factor in the price drop.

As investors see gold prices increase, it is likely that many will look to get into positions on bullion in advance of any substantial price gains. Traders who are interested in adding gold holdings should contact their gold exchange and buy gold before any prolonged rally begins. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The gold spot price dropped 1.4% last week on some technical selling, creating the fourth consecutive week with a net drop. The US Dollar Index fell as well, suggesting that gold and the dollar are beginning to act independently as the dollar rides weakness in the euro and gold finds its bottom after correcting. Peter Fertig, owner of Quantitative Commodity Research Ltd. puts it succinctly when he states, “The dollar is down. The metal’s (gold’s) sudden drop last week is also a good indicator that prices may rise.”

The missing inverse relationship that frequently exists between the dollar and gold prices indicates two assets at different stages of reversal. The dollar appears to be reversing its recent gains on fears that the US economy can not recover as quickly as hoped; gold, on the other hand, is closed today at $1,065 and appears to be prepared to reverse and climb based on solid fundamentals and heightened demand. Randgold Resources Ltd CEO Mark Bristow has gone on record stating his belief that gold prices will trade upwards of $1,200 this year and $1,500 after that.

For people looking to protect and grow their wealth, now is a very good time to get into gold. As demand increases and people invest based on fundamentals and not the dollar, gold prices are likely to rise. Purchasing gold bullion or certified gold coins while prices are near the bottom is an excellent way to potential profit as strategists expect a gold price increase. 

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Ronald Stevens

Senior Staff Writer - GoldPrice.net

Although some point to the recent activity of the dollar as the reason for the decline in gold prices, many analysts are not convinced, due to gold’s fundamental strength and the dollar’s fundamental weaknesses. After increasing nearly $300 per ounce from July to December last year, gold needed a correction; that correction has been taking place the past two months.

The dollar, on the other hand, has flaws that make it extremely vulnerable. Most of the success enjoyed by the dollar recently has come at the expense of the euro and EU countries like Spain, Portugal and Greece who are in serious fiscal trouble. The problem for the dollar is that the United States is also in serious trouble; the current rampant spending and the crushing national debt are creating a weakness that the currency soon will not be able to overcome. This predicament plays right to gold’s strength as a hedge against difficult economic times.

When the underlying market demand supports gold’s price and the economy is in disarray, gold prices are perfectly positioned to rise; this is the condition that the world is realizing now. Gold bullion, certified coins and other investments are likely to soar as investors look for security for their current holdings and additional future profits.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Although there is no historical connection between gold prices and world currencies, investors in have been hedging against economic problems in Europe by moving to the dollar. This shift is considered by many analysts to be a temporary situation, given the lack of underlying support for the dollar and the fiscal instability of the United States’ economy.

Gold appears to be the most logical benefactor when investors again look at the US economic situation. Gold prices have tumbled below their three-month low, but the fundamentals of the commodity show no signs of keeping them down. High demand, low available supply and economic distress in the US will once again bring investors back as the current rally by the dollar subsides.

Instead of selling, now is a good time for investors to consider buying gold. Falling prices are a bad sign for weak commodities, but gold has the indicators that suggest another climb as prices look to stabilize and begin to rise. Investors should consider a strategy of purchasing bullion or certified coins on the lower prices in order to hold winning positions when the dollar levels off and the gold prices reverse their trend and start to rise. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The dollar’s resurgence resumed on Wednesday amid reports that first Greece, and then Portugal are struggling with severe debt issues, weakening the value of the euro and sending the dollar to a .319 gain on the US Dollar Index. The prevailing opinion is that this strength could last for a little while longer as all eyes turn to Portugal and its difficulties.

The non-farm payroll data and speculation over bank interest rates are affecting gold prices as well. The payroll data, expected to be announced on Friday, is believed to be better than anticipated, and the Federal Reserve has been hinting at tightening the money supply with interest rates to avert a threat of inflation.

While such news generates fear among some smaller investors, larger traders are not so easily moved. SPDR Gold Trust, a large exchange-trade fund, continues to be steady with its gold holdings, maintaining over 1 million tons of physical gold at a value of over $1 billion, in spite of members in the fund who have sold their holdings recently, creating outflow. This position suggests that gold prices are expected by many to remain strong.

While gold prices drop over concern about jobs data, interest rates and fiscal problems abroad, many serious investors are seeing this as a chance to pick up additional holdings at lower prices, using the news to their advantage. Private investors should look to do the same, as the see the ongoing financial problems in the US and anticipate a new rally in gold prices. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

While nothing actually occurred to send the dollar tumbling, the potential impact of the President’s speech could immediately be seen as he announced he is seeking approval for a $3.8 trillion budget and more than $100 billion in additional stimulus projects. Wary investors have watched the US deficit soar to new levels while billions in government subsidies have been flooded into the economy; this combination could have disastrous effects, both now and well into the future as the dollar continues to weaken.

The potential boon to gold investors was not lost on the market; many analysts have been warning about the dangers of out of control government spending and another $1.3 trillion in deficit is projected for the fiscal year. As US indebtedness soars, gold investments become extremely attractive.

The sluggish economy and weak dollar make a perfect combination for renewed investing in gold bullion and certified gold coins. Higher demand is typically created when the dollar falls, as investors look for assets that are not directly tied to the value of the currency. Purchasing additional bullion and coins now can be a way to protect assets and grow wealth before the budget kicks in and gold prices rise. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

China’s production increased nearly 19% from 2008, with its top ten mining companies contributing over 47% of that figure. China has been streamlining its gold mining industry, with many small and inefficient producers being closed or integrated. For this reason, the number of producers in China fell from 1,200 in 2002 to about 700 today.

Contrary to conventional thinking, an increase in gold production could have a positive effect on gold prices. Although increased supply can sometimes lower value, gold has a demand that far exceeds any increase in supply; in fact, gold prices may rise because consumers won’t have to rely on more expensive metals such as palladium or platinum for jewelry or electronics applications.

With gold prices correcting and appearing to be ready for a rally, now is a very good time to consider purchasing bullion or certified coins. Additional supply will likely increase demand, possibly leading to higher prices for the metal. Investors who take positions early have a good chance to catch the gold price near its bottom and profit most when a rally takes place. With a record Chinese production in 2009, there is potential for strong gold prices in 2010. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The leader of the Canadian based gold miner has a first-hand perspective about the gold industry and his comments provide insight into to the expectations of many in the business. He confidently stated that gold prices “may fluctuate, but to us and I think to our investors, the key criteria should be that it’s got a secular tendency now to move up year in and year out.”

Others in the industry show similar confidence as they forecast that gold prices would, over the long term, rise to between $1,250 and $1,500. Some predict that the market could see a bottom near $1,000, but then rebound to as high as $1,300 per ounce this year alone.

What does that mean to the average investor? Now is an excellent time to buy! With the spot price dropping to around $1,080 per ounce, many believe the correction is nearly complete and the rise could begin soon. Buying at the bottom of a correction is any investor’s dream; if gold has truly found its bottom, buying bullion and rare gold coins right now could have excellent benefits in the future.

Analysts contend that gold prices nearing $1,000 are not sustainable due to underlying demand for the metal, particularly given its attractiveness as a hedge against inflation, as a safe-haven asset, and as an alternative to struggling currencies. Investors who are liquid should consider purchasing now in anticipation of another strong run in gold prices.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

After coming out of a recessed economic situation, the current conditions would more accurately be called deflationary. As jobs are lost, businesses fail and bankruptcies soar, many citizens are looking for ways to reduce their credit responsibilities and protect their wealth. This contraction of the private sector credit market is understandable after more than sixty years of expansion. The only problem is this natural correction is being undermined by a credit expansion in the US government.

The government has been operating at a deficit for years, even decades, but if you add in increased pork-barrel spending, the cost of two wars and ill-advised bailouts and stimulus packages, the deficit spending is staggering. This mountain of debt is sapping the strength of the US dollar, and the effect of the economy has been underscored as gold prices continue to rise.

For many people, investment while gold prices are rising is the answer to protecting and growing their wealth during these difficult times. Gold prices raised nearly $250 during the 2009 calendar year, and many analysts are predicting gains in 2010 to be even higher.

Gold bullion and certified rare coins have been strong investments for a number of years, and they are still attractive options for many Americans looking to build their futures in these trying times. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Some analysts are starting to see the Federal government’s stimulus and bailout money as only masking a more serious problem, a sort of “asset bubble” where easy access to money has caused over-stimulated growth. The weak dollar and the enormous national debt are, by extension, the result of this and have create a vicious circle; bailouts add to the national debt, which weakens the dollar, necessitating more bailouts. This cycle cannot continue and its end is bound to be painful.

How should you respond to this potential of an asset bubble? Gold prices have risen due to bad government policy and many predict they are prepared to rise again. Investing in gold bullion or certified gold coins provides a potential source of financial protection that doesn’t currently exist in dollar based investments like stocks or real estate. As gold prices stand near the $1,090 per ounce level, they are still little more than $125 below the all-time high, which some forecast will be broken again this year.

Gold prices indicate that bullion and certified rare coins offer potential protection against further destabilization of the dollar and other currencies. Investors should consider moving out of heavy holdings of dollar based commodities and purchasing gold before prices can begin a new upward climb. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The world fiscal structure has largely been kept afloat by governments pumping billions of dollars into their economies. As countries like Greece, Dubai and others try to come to grips with the enormous strain this is putting on their treasuries, they could be tempted to pull the funding and actually cause a double-dip recession.

How would such a situation affect gold prices? While no one can offer iron-clad proof, all indications point to a strong rise in spot prices. Recessionary pressures have a severe weakening effect on currency, meaning that it generally takes more of a weak currency to buy gold than a strong one, resulting in a price increase. For this reason, futures prices have started to rise and some economists are predicting gold prices could challenge the $2,000 per ounce barrier before the end of 2010.

All of this bad news offers two strong aspects for gold investors. With bullion and certified coins poised to increase in price, now is an excellent time to invest. Gold purchases can be seen as one way to offset the weakening of the dollar and the fiscal unrest in a number of countries. In addition, gold provides a hedge against the instability that surrounds times like these. During the current world economic crisis, gold prices have risen nearly 20% over the past two years as investors seek to protect their financial futures.

Gold prices have the potential to greatly profit from the current fiscal problems. Investors can watch the economic decisions of countries around the world and monitor gold prices for the right time to invest in bullion and certified gold coins. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Mining and exploration companies use stocks to raise funds for their operations. Prior to hitting and confirming a strike, stock prices can be pennies per share, as with Golden Phoenix Minerals Inc. and its five cents per share stocks or $2.25 per share like Nevsun Resources Ltd and Vista Gold New. Companies like these may issue millions of shares of stocks to generate funds to purchase new lands and finance new explorations.

Once these companies have located gold, the jump in price can be quite amazing. Finding gold can turn stocks into a huge success, like Eldorado Gold Corp at $13.00 per share or Agnico Eagle Mines with an impressive $53.00 per share. Such returns are what entice investors into buying gold stocks in the beginning.

The downside is that not many mines ever hit. Even though a stock may only be five cents, you will still lose $100,000 if you own 2,000,000 shares. Many investors try and ultimately fail because that lure of making $20 million if the mine hits and stocks go to $10 per share is just too tempting.

While the rewards can be great, most people are more comfortable with the advantages offered by purchasing gold. $100,000 invested in gold bullion in 2000 would be worth nearly $400,000 today. The security in owning physical gold is that it is never worthless. If a mining company fails, the stock is worthless paper; if gold prices fall, the gold still retains considerable value that will increase when the price rises again.

Gold stock prices hold great allure for some people; the possibility of a big strike makes them willing to gamble their investment money. For most people, investments represent security, and one of the best investments around is physical gold in the form of bullion and certified gold coins.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The current price of gold has some merit; knowing the current price can allow speculators to take advantage of a spike in price to sell bullion, while a sell-off or correction can provide the opportunity to buy at a better price. During the past decade, gold prices have risen nearly 300 percent; an investor who bought in 2000 holds gold that is worth today nearly four times what he paid for it. During this time, however, successful speculators who correctly anticipated the volatility of gold prices were in a position to make much more since price changes are not linear.

While you may be interested in speculating on gold prices, deciding on how to do it can be a more difficult decision. The first decision is establishing a relationship with a gold exchange to make purchases. It is important to find one that has a long history of success, low fees and an impeccable record of customer service. For short term investing, it is also advantageous if the exchange has depositories so that you do not have to receive your purchase and then ship it back when you sell.

After choosing an exchange, it is important to do some research and determine a method for deciding when to initiate trading. Some people merely follow market trends and this information can be readily found on the Internet. For more elaborate analysis, candlestick signals, rolling average analysis or working with a specialist at your gold exchange may be desirable.

Regardless of the method used, more than the current price of gold is needed for short-term investing. Traders are wise to do their homework and enlist the services of a reputable gold exchange to make the most out of their trading efforts. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

After a sell off in December brought gold down, comparing the price of gold today would lead you to deduct that prices are rising. While that has been true in general, the price of gold today actually dropped almost 1%. Two people looking at the same price would draw different conclusions.

There are several things that can be gleaned from the data at hand. First, after several weeks of steady climbing, gold prices dropped. This can be the result of a sell-off or other correction of price, or it can simply be the volatility that gold prices experience. Second, the day’s events don’t stand alone; they are the product of days, weeks or even months of activity.

Movement of prices is analyzed a number of different ways. Some people look at moving averages that offer a smoother pattern of price movements, while others use candlestick patterns to search for recognized patterns of movement. While the methods of tracking vary, most investors attempt to determine the direction that gold prices are moving in order to decide if it is a good time to buy or sell.

All investors want to know what will happen tomorrow if the price of gold today is $1,130.00. Gold exchanges and investment charts are among the ways that traders look to predict the winds of change and determine their investment plans of action.

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Some financial institutions obviously believe that the economy is improving and that the US dollar is strengthening, because their gold price predictions call for lower gold spot prices in 2010. The investment company Natixis is the foremost among those calling for gold to be bearish this year, because analysts from this company believe that gold will average $850 per ounce. Barclay’s Capital believes that will remain flat this year, as evidenced by their $1140 prediction. Macquarie Investment Bank also believes that gold prices will remain dormant in 2010, because gold’s rise due to the falling dollar could be offset by investors looking to take profits.

Other financial entities believe that the financial stress of our current recession will increase demand for safe-haven assets like gold, and the dollar’s slide against other major currencies could escalate the yellow metal substantially this year. The Certified Gold Exchange currently has a gold price prediction of $1592, and analysts at Merrill Lynch believe that the gold spot price could reach $1500 by the end of 2010. Kitco analysts have called for the gold spot price to reach $1375 before the ball drops on 2011, and feel free to view the complete list of 2010 gold price predictions or contact us directly for live, discounted pricing on the most popular physical gold investments. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

The price of gold today is exponentially higher than that of 2001, when stocks, bonds, and real estate ruled as kings. Gold was at a paltry $252 per ounce back then, although some investors foresaw higher gold prices in the near future. No investment moves in a straight line, and gold was at a 25-year low.

Our government’s weighty debt, combined with the printing presses that are going full steam ahead, has aided gold prices since 2001 and the yellow metal has climbed over 400% in the last nine years. Many economists believe that 2010 ill be a break away year for precious metals because the dollar’s decline against other major currencies is expected to continue.

In addition to he devaluation of the US dollar, the general sad state of our financial markets is another reason that gold prices could rise in 2010. Some real estate markets have hinted at signs of life, but the long-term effects of our current recession have not yet been felt in the real estate market. Once government rebates expire and borrowers are forced to use their mortgage payment money for groceries due to a lack of jobs, we could see another wave of the mortgage crisis from sea to shining sea. Just as the undertow beneath glassy waters can be treacherous, don’t let the presently calm state of our economy lull you into thinking that we are out of dangerous financial waters. Stay up-to-date with the current financial crisis by reading our 2010 Insider’s Guide to Gold Investing below. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Silver, because it is more plentiful than gold, is the lower priced metal. Although very little is used in today’s United States coins, demand for other applications is still high and the $5 price range of the metal in 2000 has soared to nearly $19 per ounce in early 2010. Silver is still a protection against economic pressures, since it is still accepted as an alternate currency in many places.

The same can be said for gold; less common, gold demand has outpaced its supply for a number of years. The US Mint has been forced to delay production of 2010 bullion until sufficient gold is made available, and the Mint has even decided to eliminate fractional bullion coins from its production. Gold prices have risen from a sub $300 per ounce price in 2000 to the current spot price of around $1,150.

Investors that are concerned with silver and gold prices are obviously looking to trade gold. This desire necessitates finding a precious metals exchange to help with their transactions, and goldprice.net is an excellent alternative. With a strong reputation and a spotless A+ rating from the Better Business Bureau, the company is positioned to advise clients and to help them find the commodities that best fit their investment portfolio. 

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Ronald Stevens

Senior Staff Writer - GoldPrice.net

As investors look to purchase gold, understanding the buy gold price is important to accurately calculate profits on investments. The price of buying gold includes several charges that need to be remembered in order to realize gains on investments. As you will see, working with a reputable gold exchange is an important part of accomplishing your investment goals.

When visiting a website like goldprice.net, you will find the gold price scrolling across the top of the page. This convenient feature allows investors to see at a glance the latest gold spot price. This is the price that an investor will actually be charged per ounce of gold in US dollars. Once a buyer decides to initiate a purchase, this is when the work begins.

Once a buy gold price is established, the client will determine the quantity and the commodity desired. Once the terms are decided, the benefits of a company like goldprice.net become obvious. Commissions on a buy can range from 5.5 to 7.0 percent. Many larger volume orders have a lower commission, no shipping and no fees when the buyer wants to sell the same gold. With many other exchanges, there are fees for buying, selling and shipping, making the order price higher and causing an investor to lose money on each transaction.

Understanding the buy gold price means more than just looking at a ticker. The price that should concern an investor more is what buying gold will actually cost, both buying and selling. Using a company such as goldprice.net can be an important part of getting the best buy gold price. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Over the past forty years, strong investment demand has created historic gold prices. During this time, investors have sought gold to diversify their portfolios and to serve as a hedge for inflation. This confidence in gold as an investment led to an all-time high price in December 2009 and a bright outlook for 2010.

A person that purchased gold in 1970 paid approximately $37 per ounce; selling the same gold today would result in a profit of about $1,100 per ounce. To make the picture clearer, a purchase of 1,000 ounces of gold in 1970 would have cost about $37,000 and would net an impressive $1,137,000 if sold at today’s prices or 1,226,000 if sold when it reached its high of over $1,226 per ounce in early December.

While a heavy sell-off dropped the historic gold prices, the outlook is very favorable for this year. Since January 1st, prices have been moving steadily higher and are already up nearly 5% for the year. Weakness in the US dollar and a continued bleak forecast for the anticipated economic recovery has allowed gold prices to march higher. The 30% increase in gold prices for 2009 puts the commodity in position to again surpass its high. This optimism leaves 2010 as another potentially profitable year for gold investment.

Whether investing in bullion or rare coins, it is best to enlist the services of a respected gold exchange. Goldprice.net is part of the Certified Gold Exchange and offers clients excellent investment options, superior service and competitive rates for any kind of gold purchase. As historic gold prices drive investment, a wise trader will move forward with the help of a company like the Certified Gold Exchange. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The gold market is volatile; it rises, falls, and then it rises again, usually happening many times in a day, week or year. Unless you are buying or selling this instant, the current spot price tells you very little. When put together with the prices from a month, year or decade, a pattern emerges. Gold prices held steady in December, 2009; the prices rose nearly 33% in 2009 and almost 300% in the past ten years. By combining daily prices over these time frames, it creates a more explicit picture.

An investor can use today’s gold price for a couple of different things. First, today’s price indicates an approximately worth of an investment. An ounce of gold bought for $1,000.00 would be worth $1,136.60 today, an increase of $136.60. In addition, an investor can use today’s gold price in an attempt to determine a pricing trend. If a trend is detected, an investor can make decisions about when to buy or sell.

Today’s gold price is constantly changing. An investor should visit goldprice.net to see the current price and speak with the company’s specialists to determine the best way to take advantage of that information

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

As the United States’ economy staggers under the weight of an uncertain future, American Eagle gold prices have many investors poised to post additional profits. Wrapping up a highly successful five year period, gold bullion investors still have reason to believe that signs point to a continued upward trend in gold prices, making their investments even more valuable.

Following the global economic crisis, the US economy has been in a state of uncertainty. The government is flooding billions of new dollars into stimulus plans with the hopes of triggering a recovery, yet there have been very few indications that this is succeeding. In the meantime, the flood of money is continuing to weaken the US dollar, adding concerns that the economy is moving towards inflation.

Historically, a weak dollar and higher inflation have led to a rise in the value of gold. In spite of a five year surge of 175% in gold prices, a growing number of analysts are predicting increased prices for the precious metal in 2010. Foreign bullion and American Eagle gold prices reflect the fact that the economy is fragile and the demand for the security of gold is high.

American Eagle gold prices have traditionally benefited from times when the dollar is weak and the economy struggles. Bullion is seen as a hedge against inflation and a secure emergency currency, and American Eagle gold prices reflect this confidence. Investors should look to a gold exchange like goldprice.net to get more information on pricing trends, as well as to buy and sell bullion. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

If you purchase bullion, the American Eagle gold price that will most interest you is the gold spot price, as this is the current going price for bullion. You will have to pay a commission on the transaction, but the spot price is what will drive your attention.

For rare coin collectors, the American Eagle gold price is something very different. In circulation from 1907 to 1933, these coins are scarce and very valuable if they are in excellent condition. The American Eagle gold price is not just the spot price, but is dependent on the Sheldon rating that the coin earns. Because they are rare, coins that are high quality are very expensive. Monitoring the price of these coins is best done with the help of an exchange such as goldprice.net.

Watching American Eagle gold prices can help you decide whether bullion or rare coins best fit your investing needs. Using a gold exchange like goldprice.net allows you to enjoy the benefits of the company’s long history and its impressive A+ rating from the Better Business Bureau.

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Ronald Stevens

Senior Staff Writer - GoldPrice.net

Investing against gold price futures is highly desirable by many because it provides an investment strategy that has the potential to generate more profits than physically held gold. While investing against gold price futures offers greater rewards, it must be approached with caution because it can be a great risk as well.

Investing against gold price futures is like any other options trading of commodities. A contract is held against a certain quantity of gold and based on an anticipated future price. As the price moves, the investor makes money if the director matches what was anticipated, and loses money if it goes the opposite direction.

There are advantages and disadvantages to investing on gold price futures. The first advantage is that investors can control large quantities of gold, substantially increasing the potential profit. The second benefit is that futures trading does not require the trader to take delivery of the metal since the buyer is purchasing the right to take possession of the gold at a later time. The biggest liability of investing on gold price futures is risk; since the trader is generally controlling large quantities of gold, a failed investment can cause the person to not only lose the amount of money invested, but more since the contract is leveraged.

Investing in gold price futures is not advised for every investor and must be done understanding that there is both great reward and risk. Goldprice.net is a reputable company that can assist investors to determine if it is right for their portfolios. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Finding the gold price online can be as easy as visiting goldprice.net. The website keeps a price ticker at the top of each page, continuously updating and offering the latest price to visitors. The company does this because it realizes clients are eager to know about any recent price changes as they happen.

Watching the gold price online can be helpful to investors as they make decisions about their holdings. While a long-term investor may only be curious, an active precious metals trader needs the latest numbers in order to decide whether to buy or sell.

Having a convenient place to find the gold price online makes trading gold much simpler for serious investors. Finding it on a website like goldprice.net can provide a full service solution for people who buy and sell gold. In addition to gold spot pricing, investors can review information that helps in their decision-making process, as they learn more about trading this valuable metal. Finally, the specialists with the company can offer expert assistance that has been recognized by the Better Business Bureau with its coveted A+ rating.

Monitoring investments by watching the gold price online is a simple procedure that can create handsome benefits. Tracking that price with goldprice.net not only produces instant results, it provides a full line of services to visitors at its website. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

In 2009, the gold price news revolved around steady growth and spot prices that reached an all-time high. The growth in gold price for the year was a healthy 25%, revenue and yet profitability in Dubai-based businesses fell by around 20 to 30 per cent. Although the drop was substantial, the businesses survived and their owners are optimistically looking forward to positive gold price news for 2010.

The general opinion in Dubai regarding the gold market is that the worst appears to have passed. Sales there last year were largely down from January to March, then normal afterwards. The feeling is that the global economic downturn was to blame, but is getting better, making the gold price news seem better for 2010.

Not only do the businesses have an optimistic outlook for the coming year, but the analysts do too. The feeling is that gold price news might find the metal around $1,350 per ounce in the first quarter of 2010 and perhaps as high as $1,800 by the end of the year. These same analysts envision a scenario where gold could reach $3,000 within five years, revolutionizing the gold market in the process.

Just as Dubai is an important part of the business world, its gold center is a key part of the gold price news. This partnership appears to make 2010 a hopeful and profitable time for the gold industry.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

From the end of February to early April in 2009, the price of gold bullion fell 10.5%. The drop wasn’t alarming, rather a correction to the bull market that has been occurring. From April to December, the price soared from $895 to $1,226, an impressive 37% increase in just eight months. This surge followed a correction to put the price of gold bullion at an all-time high.

In the first two weeks of December, gold dropped from its all-time high down to $1,096, which represented another correction of about 10%. While each pattern has its own characteristics, if another 30% climb occurred it would run gold to a new high of $1,425 or an increase of nearly $330.

When analyzing the price of gold bullion, there are no guarantees, but there are signs that can indicates the potential for change. Current economic conditions are helpful indicators that gold could continue to rise throughout 2010. A weak dollar, continued unemployment woes and a flood of money into an overloaded financial structure serve as indicators that point positively in gold’s favor. The December 2009 sell-off is also positive; after hitting its all-time high, gold adjusted but then began climbing again. This could be an indication that the fall in December was only an adjustment, not a change in the direction of the trend.

With economic signs and the investment market both moving in gold’s favor, analyzing trends in the price of gold bullion would seem to show that 2010 will be a profitable year for investors. While analysis only gives a glimpse into the future, that peek looks like it could be a good time to invest in gold. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

Volatility always makes the investment news. Bad news hits Wall Street and market index falls 300 points, or a winter storm knocks the price of wheat down ten percent. Gold has its ups and downs as well, especially when investors react emotionally to events around them.

Certified gold prices can eliminate much of uncertainty surrounding the gold market. While the value of bulk gold can still vary, professionally certified gold prices are based more on a particular coin and less on the gold it contains. This means their value will consistently track higher than the market price of their gold.

At the current time, the dollar and the US stock market are more vulnerable to volatility than gold. Both of these investments are event-based and highly susceptible to emotional movement, while gold currently has the perfect conditions for continued growth.

Gold is an excellent investment commodity and is currently on a ten-year upward trend, gaining 380% in value during the decade. Certified gold prices have an added element of security that makes them perfect for lessening any impact that volatility might try to make on an investor’s portfolio. 

Daily Updates Archive

Ronald Stevens

Senior Staff Writer - GoldPrice.net

For the first ten years of the 21st century, gold price quotes have made steady gains, up to nearly 400% of their value at the start of the decade. This roaring success was made possible largely due to declining economic conditions that have substantially weakened the United States dollar.

Even in the final month of 2009, gold overcame a sell-off to remain close to its all-time high price. In fact, gold rose in price nearly 26% for 2009 and its five-year growth was up an astounding 149%. Even on the heels of such impressive growth, gold appears ready to climb again.

The variables that move gold price quotes up are still in place. The United States economy, the fiscal health of the US dollar and worldwide demand are all positioned to take gold higher. Some experts have even suggested that gold could go a high as $1,350 per ounce next year alone. This type of jump would represent another 20-25% increase in price.

In general, precious metal prices have been rising; gold price quotes have reflected that increase. Gold is typically the most actively traded metal as many people are attracted to its profitability and resilience as an investment vehicle. With ideal financial conditions and high demand, prices will likely continue to climb well into 2010

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold topped $1,225 per ounce in early December to reach its all-time high, yet then tumbled several weeks later to a two month low of $1,074 per ounce during a period of over-aggressive profit taking. After the sellers relented, the gold price trend began moving upward again, quickly going back over the $1,100 mark. Most analysts were unimpressed with the downturn, which was seen to be a simple sell-off and quickly reversed.

Gold price trends for 2010 indicate more upward movement. The US dollar continues to be a very weak commodity and has not shown any indication of a rapid reversal. As the US-led wars in Iraq and Afghanistan drag on and the government-entitlement spending continues, no imminent recovery by the dollar is seen. This is important to the gold market as the strength of the dollar historically trends opposite of gold.

Although gold recently reached its all-time high, its adjusted price is only about half of what it was in 1980. Following this trend makes it possible to ignore the current number and looks at the commodity in terms of what the market can bear. This also indicates continued upward movement.

Analyzing gold price trends allows experts to objectively review the value of bullion and gold bars, and then accurately forecast what they will do in the future. Indications are that while its value fluctuated in December 2009, gold prices will continue to rise in 2010.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The first factor in evaluating gold prices is to understand the current price. Although gold has set its all-time high, the price is still in line with traditional pricing. With the current price hovering between $1,100 and $1,200 per ounce, it has not increased like other commodities over the same period. Since 1980, the price of gold has risen less than 50%, while the stocks on the Dow Jones Industrial Average are up nearly 700% during the same time.

If the actual price of gold increased at a conservative rate, the inflation adjusted price has actually decreased. Calculating inflation increases with the 1980 gold price of $873 per ounce would create a current price of $2,200 per ounce. Because of this, analyzing current gold prices against past prices can help keep its level in the proper perspective.

Finally, analyzing current gold prices requires an inspection of the current variables affecting the price. Gold is traditionally affected by inflation in an inverse relationship with the US dollar. As inflation rises, the value of the dollar falls, making gold more valuable. The global economic crisis continues to be unstable, providing an environment for sustained price increases.

By analyzing current gold prices against its past performance and current potential, investors are able to more accurately predict its movements. As 2010 begins, both scenarios indicate that the opinions of the experts have merit, meaning that prices could continue to climb well into the new year. 

Daily Updates Archive

Michael W. Truman

Senior Staff Writer - GoldPrice.net

Strictly looking at current gold prices does not give an accurate indication of gold’s potential in the open market. Inflation can give a false impression of how the commodity has performed. In 2008, junior gold was sold off heavily because of de-leveraging; causing many junior miners to lose as much as 80% of their market value, with gold prices only dropping 30%. Such a drastic fall-off in market share indicates that the junior gold market as a whole would need to double just to reach past levels.

While many investors presently feel that gold has reached the cycle's leveling point for the current cycle at $1,100 per ounce, analysts are far less positive. Gold prices in 1980 reached $873 per ounce, which would have been over $2,200 per ounce if adjusted for today’s level of inflation. To place things in a clearer perspective, stocks have risen 800% over the same period of time. This leaves a great deal of optimism when analyzing current gold prices.

As the world economic picture comes into focus for 2010, instability is expected in gold prices, causing swings that could drop below $1,000 or race above $1,300 per ounce. Conservatively analyzing current gold prices suggests this metal will continue to rise and outperform other commodities, making gold an excellent investment going forward into the New Year. 

Daily Updates Archive

Michael Truman

Senior Staff Writer - GoldPrice.net

Current gold prices are slightly higher than the market’s opening value for two specific reasons. The dollar strengthened somewhat, which usually causes a decrease in gold prices. However, the majority of investors saw today’s stronger dollar as an aberration, and leveraged their other investments further by increasing their physical possession gold holdings.

GoldPrice.net not only provides the latest information about the gold spot price, our research team has vast amounts of historic and live data on the silver and platinum markets. Both of these metals are largely considered more speculative than gold at the moment, because gold has more of a historical, directly inverse relationship with US currency.

Current gold prices for various products depend on the type of item and the gold exchange with whom you conduct your business. If possible, search for a “reputable gold exchange” through a major search engine and then check that company’s Better Business Bureau reputation at www.BBB.org. Or, you can always contact GoldPrice.net directly for direct information on the live gold market and current gold prices. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The price for gold fluctuates based on current supply and demand, so you have to take into account the yearly output of gold from mining companies (about 3000 tons) and the various uses for which gold is needed. You never know from one minute to the next what the gold spot price will do, because a drop in the dollar index (which has an inverse relationship with gold) could be offset , or even outweighed by a decrease in demand from gold-consuming industries. This works both ways, so even if the dollar gains value, gold might go up in price because of a buying frenzy that could be set off by financial uncertainty.

The price for gold also depends on the particular item that you choose, the gold exchange that you conduct your business with, and the time and volume in which you purchase. Some celebrity-endorsed firms charge exorbitant premiums for their products, so always check the Better business Bureau report at www.BBB.org to make sure that you have located a reputable brokerage.

It is a common misconception for new gold investors that you can buy and sell gold at the spot price, but this is almost never true. Contact GoldPrice.net or browse through one of our award-winning investment tutorials below to get the facts about how to get competitive pricing and be successful in today’s gold market. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

Projections for the price of gold are overwhelmingly bullish for 2010, although another rally by the investment-grade yellow metal will hinge on the performance of the dollar and other US financial markets over the next 12 months. Gold was not traditionally considered a mainstream investment, but during the 1970s and in our current cycle we see and influx of investors flock to gold, silver, and other privately held safe-haven commodities in order to protect themselves from faulty traditional markets. The gold price today is the direct result of investors who have increased their safe-haven demand by purchasing assets that can be privately stored and that are not tied to the falling dollar.

The gold price today at 1pm EST was $1132.80, which is an increase of $14.60 over the market’s opening levels. If you have given consideration to a gold investment and you think that the gold price could escalate further in 2010, contact GoldPrice.net directly or feel free to pick up one of our helpful and free investment tutorials below. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

The Price of Gold - $1127.80 (+$0.40)

The Price of Silver-$17.38 (-$0.01)

The Price of Platinum - $1442.00 (-$6.00)

Remember that major precious metal dealers do not buy or sell products at the spot price. Rather, premiums are added to each product, and these markups vary depending on the type of item, the amount purchased or sold, and the gold dealer in question.

The price of gold has been a hot topic recently because of the United States’ financial meltdown that began three years ago. While some indicators could show that a recovery is underway, the overwhelming majority of data points to a long-term inflationary cycle down the road, as well as the continued struggle of many of our nation’s long-standing industries.

Gold traditionally rises with inflation, and recessionary periods cause investors to seek diversification with safe-haven assets like precious metals. If our economy and the US dollar index continue to deteriorate in 2010, the price of gold could climb to $1500 per ounce. If you seek protection from our dollar’s withering value or if you simply feel the need for a back-up plan with physical possession gold, contact GoldPrice.net or browse our helpful investment guides below to get more information on how to make a successful precious metal investment. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold prices have been on the rise since 2001, and many economists have called for higher gold prices once our Federal Reserve starts to raise its key lending rate, which has remained near zero for an overextended period of time. In the 1970s, higher interest rates meant higher gold prices, because gold and other commodities historically tend to increase in value with inflation of US currency.

Many nations have increased their gold holdings lately, but China and India have led the charge. Most recently, India’s central bank purchased 200 tons and $6.7 billion worth of gold from the International Monetary Fund (IMF) on November 3. This move helped the gold price listed on the COMEX division of the New York Mercantile Exchange (NYMEX) to escalate to $1227, although recent bouts with profit-taking by some short-term investors have reduced the gold price somewhat.

The gold price has increased 36% in the last 365 days, and most economists agree that the future of the gold spot price hinges on our economy’s performance and the Fed’s handling of interest rates. If you believe that our economy will continue to struggle and you want to protect yourself from a future inflationary cycle, contact GoldPrice.net or one of the nation’s reputable gold exchanges to protect and grow your wealth during these unsteady financial times. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold’s spot value reached an all-time high of $1226 a month ago, but the low gold price of this week was the direct result of a stronger ZUS dollar and renewed confidence in US stock indexes. Much of the economic data recently released by White House economists forecast a better economic situation for the United Sates, but the counterargument is that our financial markets have only been boosted by intentional government manipulation of the monetary supply. Both sides are fully convinced of their own respective opinion, so you have to look at the facts and decide for yourself if the economy is going to improve or worsen.

If you believe that our economy is in a recovery stage, then the low gold price will probably get lower in your mind. If our government keeps a lid on inflation and improves consumer confidence, gold prices will likely fall.

If rising interest rates spark inflation, and if Americans continue to distrust US stock and real estate investments, then gold prices could rise in a pattern similar to those of the 1930s and the 1970s. For more information on gold price fluctuations, contact GoldPrice.net directly or browse through any of our helpful and informative tutorials below. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

At 2pm EST the gold spot price was $1132.80, which is a gain of 0.08% for the trading session. Gold dropped substantially earlier this week, but the yellow metal is still up an astounding 38% in the last 365 days. Silver, which is presently selling for $17.38 per ounce, is down $0.09 for the day.

Silver and gold are highly sought after investments for individuals who foresee inflation and the eventual collapse of the dollar, which are fears that have become much more urgent now that the Federal Reserve is contemplating raising interest rates.

Once the Fed starts to raise interest rates, it could set off a massive bout of hyperinflation, similar to the high inflationary cycle seen in the 1970s when interest rates reached double digits. Gold and other commodities that are priced in US dollars have a historically proven inverse relationship with this currency, so a weaker dollar means higher commodities prices and vice versa.

If you fear that the dollar’s declining value could trample your buying power and diminish your financial independence in a national economic emergency, take advantage of the gold price per ounce now, because economists expect a gold spot price of $1400-$1500 next year. Register below or contact us directly to get the 2010 Insider’s Guide to Gold and Silver Prices. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold investment values vary based on the COMEX gold spot price, which is available around the clock on the GoldPrice live ticker. This spot value fluctuates based on supply and demand, and the latter has been growing lately because of gold’s worth as a privately-held, safe-haven asset.

Gold and other commodities that are priced in US dollars cost more when our currency falters, and this inverse relationship between the yellow metals and the greenback has been proven in the 1930s and again in the 1970s. Inflation destroyed cash accounts during those cycles and many economists expect massive inflation once the Federal Reserve starts to raise interest rates.

Gold bullion investments are usually made when a short-term inflation cycle is foreseen, and some investors have utilized gold bullion to hedge their portfolios against any upcoming inflationary trends. Other investors are concerned with more than simple inflation, and this second demographic is concerned with the long-term solvency of our dollar, our economy, and our nation.

These investors tend to shy away from gold bullion investments and instead purchase certified gold coins. Learn more about gold bullion and certified gold by registering below for our award-winning 2010 Insider’s Guide to Understanding Gold Investment Values. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

As a matter of fact, the Kitco Gold price Index listed at www.Kitco.com shows that today’s pullback in the gold spot price is exclusively due to predominant selling, because the US dollar index dropped this weekend. The dollar’s inverse relationship with gold aided the gold spot price, but those gains were slightly outweighed by the investors who liquidated their holdings for holiday shopping purposes.

At the moment, skepticism over traditional markets abounds within our nation because no one is sure what radical monetary moves will be made next by our policymakers in Washington. When Ben Bernanke and the rest of the “experts” at the Federal Reserve start to raise interest rates in 2010, this could set off a bout of inflation that may not ease for a decade or more.

Thompson-Reuters recently conducted a poll in which 80% of CEOs within the United States feel that our government’s current stimulus will be unsuccessful, and these sentiments have been echoed by American household investors since the first government handouts were announced.

Future gold prices could go up or down, because anything could happen in this economy. For live gold prices or projections on what could happen in the gold market, request our free information kit below or simply call our toll-free number for answers to your questions. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Market analysts projected a slight pullback in precious metal prices this week because the rally has marched on unhindered for weeks. Generally, profit-taking will take place after a rally of a few days, but the falling dollar has driven the gold spot price higher despite some mild profit-taking by short-term investors.

Falling gold prices are most likely temporary because our government is going to raise interest rates soon and this will repress the dollar’s worth substantially. Many economists have called for the gold spot price to rise to $1700 in the current cycle, throughout the same time that stocks, bonds, and cash accounts could become devalued significantly.

The rising gold spot price has been almost exclusively due to the fact that our dollar could collapse. Currently, investors are seeking safe-haven assets that can be stored privately and used for goods and services in lieu of fiat currency.

Falling gold prices are not a reason to exit the market unless you are simply a short-term investors looking to take profits and convert back to cash. If you desire to protect your wealth with gold and escape the troubles of the greenback, rest assured that we are in all likelihood, near the very beginning of a long-term inflationary cycle that will result in higher gold prices.

Take advantage of falling gold prices by strengthening your position in the gold market, or educate yourself by requesting your free information kit below. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold coins do not sell for the flat spot rate, because other costs must be accounted for before the investor can take delivery of the gold. It is very expensive and time-consuming to mine gold, so the costs of these efforts must be covered. Additionally, mints like the Perth Mint and the US Mint operate as businesses, so they also add premiums to their coins to cover operational costs and also to turn a profit.

Gold bullion coins trade closer to the gold spot price than certified gold coins, so short-term investors usually opt for the bullion products. Safety-oriented investors who plan to hold their gold for longer than 14 months generally shy away from gold bullion coins, which could be confiscated if our government makes another run on gold bullion. Learn more about the historic gold bullion confiscation here.

The gold bullion spot price is the main factor in determining gold bullion coin prices, and this spot value is always available at www.Kitco.com and GoldPrice.net. Certified gold coin prices can be monitored at www.PCGS.com, and household investors like you can take advantage of institutional discounts from these levels by contacting the Certified Gold Exchange directly. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold prices have risen recently due to the international community’s scramble to locate and hoard substantial amounts of gold. The International Monetary Fund (IMF) sold 200 tons of gold to India’s central bank on November 3, and now that same bank and China’s national bank appear to be competing for the IMF’s remaining 200 tons.

The gold spot price has had no choice but to spike to keep up with the increased demand of household and institutional investors. Many US investors previously thought that the IMF’s 400 ton offering would subdue gold prices and allow investors to save a few dollars per ounce before the Federal Reserve raises interest rates and sets off a bout of inflation.

However, the quick removal of the first 200 tons from the open market sent gold prices soaring, and the mere speculation over the remaining ore has caused enough of a stir to elevate the gold spot price on the COMEX division of the New York Mercantile Exchange (NYMEX) to a new record high of $1217 earlier today. The gold spot price now resides at $1214.80, and you can get the latest info on gold spot price fluctuations by calling us directly or emailing us for free, live, spam-free updates. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The price of gold at noon EST is $1199.40 per ounce, and earlier this morning gold reached a new historic high of $1201.80 per ounce on the COMEX division of the New York Mercantile Exchange (NYMEX). In the third quarter of this year, many banks and economists called for gold spot prices of $1050-$1100 before the end of 2009.

These projections have already been eclipsed by a long shot because of changes in the global gold scene, so these same prognosticators are now calling for the price of gold to rise to $1350-$1450 in 2010. India, China, and other nations have frantically scooped up gold from the open market in recent months, and these moves have been highlighted by India’s $6.7 billion purchase from the International Monetary Fund (IMF) on November 3.

There has been widespread speculation that the IMF’s remaining 200 tons of gold will soon be taken off the market by one of these gold grubbing countries, so US household investors have driven the gold spot price higher with their demand for hard, safe-haven assets. If you believe that the price of gold could escalate further, or if you are searching for a way to protect and privatize your assets during our current recession, contact GoldPrice.net directly to get your free information kit on investing in physical gold. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Now is not the time to splurge uncontrollably on gifts for yourself or others, because the US economy is on the brink of collapse and no one knows how our nation’s financial situation will change in the coming months. After shooting to $1183 last week, the gold spot price declined to $1173.20 by noon EST today.

Gold price drops on the Commodities Exchange (COMEX) were caused, not by a strengthening of US currency, but by investors who decided to liquidate their gold holdings and convert back to cash. Gold bullion prices were repressed this morning because bullion bars and coins fluctuate exclusively based on the COMEX gold spot price. Certified gold coins retreated slightly because of their inherent gold content, but demand for non-confiscatable assets like certified gold coins remains high, as it has throughout our recession.

If you are considering a gold investment, it is advisable to take your position in the gold market before the repression of the gold spot price reverses. Once our economy regains solid footing and the dollar starts to increase in value in the eyes of international investors, the gold price will likely continue to drop. However, key financial institutions like JP Morgan and Merrill Lynch have called for the gold spot price to increase 12-18% in 2010, so gold price drops that were seen today will likely be corrected soon.

For live quotes on the most widely traded gold products, contact GoldPrice.net directly through our toll-free number, or simply send us an email and request your copy of our 2010 Insider’s Guide To Gold Investing. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

It was only a few weeks ago that economists were calling for the gold spot price to reach $1100 before 2010, but gold looks to have stabilized above $1100 levels for the time being. Market analysts expect the gold spot price to rise another 12-18% in 2010, so if these increases manifest themselves then we could be buying gold based on a $1400 spot price before the end of next year.

Don’t believe the hype if someone tells you that gold will continue to rise at current levels, because it is unreasonable to expect that the gold price will increase by 10% every month until our economy regains health or drastic measures are taken to reshape our nation’s finances. Like all other investments, gold does not move in a straight line and the gold spot price fluctuates based on factors that change constantly.

The latest gold price of $1083 is evidence of weaker US currency and higher demand for safe-haven assets within US borders. If you believe that these factors will continue to hold true, then you may want to fortify your portfolio and/or retirement account with physical gold. Email GoldPrice.net to learn more about today’s gold market, or call our toll-free help desk to have your questions answered. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

• CitiFX analysts believe that the gold bug will continue to bite investors next year. These analysts have called for the rise in gold since 2001, when the yellow metal was worth $252 per ounce. CitiFX analysts have predicted gold prices of $1300 in the first quarter of 2010.

• Dr. Michael Berry believes that Washington will continue to run the printing presses, which has historically had a profoundly rewarding effect on precious metals. Dr. Berry believes that gold could eventually reach $1500 per ounce, and he has remained firm in his stance that silver could reach $35 per ounce around the same time.

• Martin Armstrong is the former President of Princeton Economics, and he foresees the gold price reaching $1350 in 2010. He believes that our nation will reach a danger zone in terms of citizen confidence next year, which could provoke a complete economic meltdown. He believes that higher demand for safe-haven assets will drive gold prices throughout the next few years.

These are only a few of the most conservative gold price projections for 2010. Some economists have called for seemingly outrageously high prices, and it remains to be seen if dollar devaluation will double or triple gold prices over the next decade.

To give yourself some protection with a hard asset like gold, and to potentially profit while our traditional markets crumble, contact us directly for free information and discounted quotes on the most widely traded gold products. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Some companies produced bars that have previously been found to contain less gold than claimed, and other gold bullion products have a very limited market, so it could be hard to liquidate your investment. Since gold bullion is primarily used as a short-term investment, and because the gold bullion market is so volatile, liquidity is crucial.

By investing in gold bullion bars that have been produced by one of the following companies, you could prevent a lot of future headaches:

• Johnson-Matthey

• Credit-Suisse

• Engelhard

• PAMP-Suisse

Gold bar prices for these products are available by registering for free, live quotes or by calling us directly. Gold bar prices are formulated by utilizing the current gold spot price, and then adding on a 2-4% premium, depending on the gold exchange and the bar’s brand and weight. One-ounce gold bullion bars are presently selling for an average of $1195, and this average is based upon a gold spot price of $1149.

If you desire to learn more about the wide range of gold bullion products that are available on today’s market, visit www.Gold-Bullion.org or contact GoldPrice.net directly. Our 2010 Insider’s Guide To Gold Investing could be a helpful tool for you throughout your time in the gold market next year. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The lower gold prices as caused by the strengthening dollar, but most economists are skeptical that US currency will be able to rebound to pre-recession health. Our government has manipulated US financial markets by infusing trillions of dollars of paper money into dying sectors like big banks and commercial real estate.

Our government’s efforts have overwhelmingly failed, because the mild improvements that were seen in the third quarter of 2009 have been called an anomaly by some Wall Street experts. A lower gold price over time could mean that our economy is improving, but the dollar is expected to drop further and gold owners are not likely to give up their ore anytime soon.

There are some short-term gold investors who are just hunting for quick profits, but the majority of US gold owners have purchased precious metals as a back-up plan and an insurance policy on their financial wealth and independence. Only another US government-led gold bullion confiscation could pry these investors from their gold, and many investors have freed themselves of that fear by purchasing gold that has been deemed non-confiscatabale.

Historically, gold coins of rare and unusual value were exempt from seizure by our government, even in a time of crisis like the Great Depression, so these same types of coins would most likely be protected again. Contact us directly or call or toll-free number to learn more about the various categories of gold, and to take advantage of today’s lower gold price. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Unlike the Dow Jones Industrial Average, which has fallen drastically since revisiting 10,000 in September, the gold spot price has relentlessly risen since crossing the historic $1000 milestone. Today’s gold price is slightly lower than the historic high of $1153 per ounce, because some short-term investors decided to jump to the sidelines and take profits on their position.

Short-term investors who buy bullion sometimes liquidate their position when they see the gold spot price start to decline, but they do this only when they are positive that a strong valley will soon manifest itself. Buying and selling in quick increments means that traders have to re-pay bullion premiums and commissions, so it requires a keen eye on the gold market to make money with rapid-fire gold bullion trading.

Although gold bullion investors may be able to reap extra profits by exiting the market when a slight pullback occurs, long-term investors are better off sitting on their position until our economy shows signs of improvement. Gold bullion could be an excellent way to make profits if short-term inflation flares up, but investors who plan on a long-term hold are likely to do better financially with certified gold coins.

These coins track the gold spot price that is listed on www.Kitco.com and www.GoldPrice.net, but they also contain a numismatic value that has caused our government to deem these rarities non-confiscatable. If you are concerned that our dollar and our nation are up against long-term troubles that run much deeper than simple inflation, contact us today to protect your portfolio before our economy devolves further. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

It was only a few short weeks ago that the all-time high gold spot price was $1033, which was reached almost two years ago. After gold peaked at $1033, many Wall Street economists called for the yellow metal to retreat once again. Gold hovered in the $800-$900 range recently, but over the past two months gold bullion traded on the Commodities Exchange (COMEX) has increased by 14.8%. The dollar has continued to suffer brutal losses against a basket of other major currencies, so even investors leaving the gold market to take profits have not permitted the gold spot price to lie dormant or retreat.

US economists believe that the upcoming holiday season could spur more gold investing instead of gift buying, and the increased demand for the yellow metal could rare historic gold prices yet again. Retailers expect a third consecutive disappointing shopping season, and their expectations are mainly attributed to the higher unemployment levels and foreclosure filings. These economic indicators most likely point to consumers with less money and more worry.

Investors who have funds available to shift into safe-haven assets have frantically rushed to sufficiently balance their portfolios and get some gold in their hands before the entire nation realizes the severity of our nation’s economic situation. Our government could be forced to take drastic measures to salvage our nation’s future, so savvy, long-term investors are increasing their holdings in private, certified gold coins.

Certified gold coins are as liquid as bullion in over 120 countries, but they are deemed non-confiscatable and private by our government. If you require further diversification before our eco-political scene worsens, contact us today to find out the best route to safe-haven protection during these volatile times. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold prices have surged in recent weeks due to the dollar’s demise as well as investors’ heightened demand for safe-haven assets. Investors have become increasingly more wary about investing in dollar-backed assets and anything tied to the real estate sector, and they have instead chosen to supplement their holdings of privately held assets like gold and silver.

Much different than speculative gold exchange traded funds (ETFs) or shares of gold mining companies, privately held gold investments are viewed as insurance policies by many investors. Stock indexes, real estate values, and cash accounts have become tragically devalued throughout the last three years, so investors have sought alternative means to protect and even grow their wealth.

Some investors have decided upon physical gold as their back-up plan, because the yellow metal historically grew in value when our nation was mired in economic turmoil in the 1930s and the 1970s. Although savvy investors realize that anything could happen in the current cycle, the trend since 2001 has been for gold to consistently rise. Our recession has intensified the upward movement of the gold spot price, which has increased by 52% within the last 365 days as per www.Kitco.com. If you would like to give some gold lining to your portfolio, contact us directly for live quotes and expert assistance. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

The all-time high for the gold spot price is $1134, which was reached earlier this morning. Some analysts believed that the gold spot price would correct itself due to predominant selling, but such selling has not materialized because of the increased demand for safe-haven assets. Other assets are able to gain value during recessionary periods, but investors have the ability to privately and securely store physical gold. This is a hard quality to find in most investments, so security-oriented buyers who want control of their own wealth have flocked to gold. Merrill Lynch’s top technical analyst called for this to happen years ago, and experts from banks like JP Morgan and Bank of America have recently echoed the sentiment of a bullish precious metal market.

The gold price today is significantly higher than that of Friday afternoon, because the US dollar index has declined slightly. Higher demand and dollar devaluation are the main influencers of today’s gold price. The gold price is always available on the GoldPrice ticker, which runs around the clock for the benefit of household and institutional investors. If you would like to learn more about the gold spot price and how you can take a position in the gold market, call us toll-free to get your free, customized information packet and get started. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

Our dollar index is a representation of the value of the US dollar compared to a basket of six other globally used currencies. Those currencies are the euro, the Japanese yen, the British pound, the Canadian dollar, the Swiss franc, and the Swedish krona. The dollar index is used worldwide to determine if US currency is inflated, deflated, or steady. When the dollar gains value, it causes commodities that are priced in dollars, like gold, to decline. Conversely, when investors place less value on the US dollar, it requires more dollars to purchase gold and other commodities.

The law of supply and demand also plays an important part in the Kitco Gold Index. If you are buying for safety, security, and wealth preservation, then a certified coin investment may be a wise addition to your portfolio. Virtually all of the gold that has been mined throughout history still exists, which is dissimilar to most other commodities. Despite gold’s ability to outlast most other resources, it has still managed to consistently rise in value. Investors are seeking safe-haven assets that are a better store of wealth than stocks, bonds and commodities, and gold is one of these privately held resources. When there is less demand for gold, it decreases the gold spot price. When there is not enough gold to meet immediate demand, the price rises.

These two factors are further discussed and elaborated upon at www.Kitco.com. If you would like to learn more about the gold market and how to take advantage of gold prices before long-term inflation takes hold, register with GoldPrice.net and we will send you our award-winning investment tutorial, absolutely cost and obligation-free. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

The gargantuan gold purchase by India last week sparked the initial climb above $1100. The International Monetary Fund (IMF) sold 200 tons of gold to India, leaving the same amount in the IMF’s coffers to be sold sometime soon. Economists believed that gold prices would fall in response to the IMF’s sell-off, but the fact that one nation took so much gold off the market immediately boosted gold prices.

The IMF plans to sell 200 more tons of their holdings, and many have speculated that China will attempt to bid on the entire lot. If another 200 tons of gold are removed from the market, the $1400 gold spot price that economists believe we could see next year may materialize much quicker than they previously anticipated. The current historic gold price of $1119 could seem a lot less impressive in the coming months, so gold investors are strapped in tightly for the remainder of this cycle.

If the gold spot price continues to rise, investors who currently own gold could reap substantial profits to accompany the safety that their physical gold investment provides. To learn more about the historic gold price, contact us directly to receive our free gold investment tutorial. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

There was some profit-taking seen in the market, but to no great consequence. The Kitco Gold Price Index (KGPI) clarifies the amount of profit-taking that has been seen. The KGPI shows the gold price’s change in relation to the dollar index, which has a direct and inverse relationship with the greenback. It also shows the gold price change that is influenced by buying and selling, so it is easy to understand what is affecting gold bullion prices at any given moment. The KGPI is available to the public at www.Kitco.com, and this is a very helpful resource if you want a clear picture of how the gold spot price fluctuates.

Gold bullion prices move in the same direction as the gold spot price, and gold bullion bars and coins track the gold spot price very closely. Fair markup for gold bullion is between 4-9%, depending on the specific item chosen. PAMP-Suisse and Engelhard manufacture 0.999 pure gold bars in various weights, and the US Mint produces a number of gold bullion coins that are available. To find out which type of gold investment best fits your strategy, call www.GoldPrice.net to get your free Investor’s Guide To Gold Bullion Investing. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

• Euro

• Japanese Yen

• British Pound

• Canadian Dollar

• Swedish Krona

• Swiss Franc

The $1100 gold spot price that was first seen last week was a direct result of the falling dollar. Even though some investors have put their metals back on the market, the gold spot price has continued to rise. Economists believe that we could see a mild pullback near the end of November, but banks like Merrill Lynch and JP Morgan have called for the gold spot price to set more record highs in 2010.

The current gold spot price is $1107.80, and this is a $9.50 gain so far today. The gold spot price has consistently risen during the last three years, because investors who fear a worsening economy have purchased gold and other safe-haven assets. To learn more about gold’s preservation abilities during these stressful economic times for our nation, contact www.GoldPrice.net at 800-300-0715 to get your free 2010 Insider’s Guide To The Gold Market. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Last year, many blue-chip economists called for $700 gold prices by the end of 2009. It is November 6, 2009, and the gold spot price currently resides above $1100. The Commodities Exchange (COMEX) gold spot price broke through the $1100 barrier today for the first time in history, and most market analysts now believe that the current rally is sustainable. It could even intensify, because demand for safe-haven assets like gold and silver is increasing more than previously expected. Precious metals are considered safe-haven assets because they offer private storage of wealth, and they tend to move inversely our traditional markets. When everything else within our portfolios fail, gold investments historically tend to rise.

By vesting 20-30% of your assets in physical gold, you may be able to protect yourself from future economic calamity. Investors who think that our nation is on the road to recovery and that the United States will continue to be the world’s dominant financial power are encouraged to invest in gold bullion. Investors who foresee a long-term recessionary period, another Great Depression or the possible collapse of our dollar, are advised to research certified gold coins. Contact www.GoldPrice.net directly at 800-300-0715 to learn more about the various types of gold investing. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

American Gold Eagle prices have skyrocketed this week, and the Certified Gold Exchange is trading the coin at $1169 per ounce. This is a 5.8% increase over Friday’s levels, and economists expect the modern-day bullion coins to increase by 12-18% within the next year.

Two factors are driving the current Gold Eagle rally, and neither of these factors looks to disappear anytime soon. The rising gold price has forced all bullion dealers to raise prices on their inventory, and the US Mint recently announced that they will not produce the $50 bullion coin until there are enough gold blanks to produce the coin in sufficient supply to meet US consumer demand.

American Gold Eagle prices track the active Commodities Exchange (COMEX) spot price, and they also carry a small premium that is added by the US government. Fractional coins tend to have a larger premium, so it should come as no surprise that the US Mint is still producing and selling the ½ oz., ¼ oz., and 1/10 oz. American Eagles. Individuals who want to track American Gold Eagle prices and purchase these coins for their portfolio are encouraged to visit www.USMint.gov or www.CertifiedGoldExchange.com. Call 800-300-0715 now to get a live quote for modern-day or historic Gold Eagle coins. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

Many economists believe that China will also purchase a large amount of the IMF’s gold, because China’s gold holdings are presently less than 2% of its’ total assets. Many analysts previously thought that the IMF’s gold would go onto the open market, which could saturate the available supply and drive the gold spot price lower.

The gargantuan purchase by India has instead elevated precious metal prices, and the current spot price of $1092.40 is just below the historic high gold price. Economists expect profit-taking to remain at a standstill until the rally pauses, and the drastic increase in gold futures contracts gives credence to that theory.

JP Morgan said in a note to clients recently that the Commodities Exchange (COMEX) gold spot price could exceed $1100 before the end of the year, and mainstream US economists have called for spot prices to surpass $1200 in 2010.

If these figures materialize, investors who presently own gold could reap substantial profits to go hand-in-hand with the safety that their physical gold investment provides. To learn more about the historic high gold price and what effect it has on gold investments, contact www.GoldPrice.net directly at 800-300-0715. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

Less than a month ago, the historic gold price high was only $1033, but widespread fear of a collapsing dollar elevated the gold spot price to $1071 on October 14. Short-term profit-taking was called for by a number of gold analysts, and said profit-taking was seen in the weeks following the gold price’s run to $1071 per ounce. The past three weeks (not including today) have seen gold trade in the $1011-$1063 per ounce range, and it appears that the latest round of profit-taking is over.

Gold has not fallen below the $1000 per ounce mark, as many economists projected it would after the Dow Jones Industrial Average revisited 10,000. That was a nostalgic day for Dow investors, but they have since been skunked by that weakening index. The DJIA has fallen to 9,750 so far, and even as I type, the gold spot price inches ever-closer to $1100.

The historic gold price record that was set during the last cycle was $850 per ounce. When adjusted for inflation, this would correspond into a gold price of over $5000 per ounce. Such an outrageous number may never manifest itself in our lifetime, but then again, I never thought our nation would allow its leaders to print and spend money so foolishly. Most conservative economists feel that the gold spot price could reasonably approach the $2000 mark during the current cycle, which is almost double the gold price currently listed on the GoldPrice live ticker. Investors who want to preserve and grow their wealth during these perilous financial times are encouraged to call us at 800-300-0715 to learn more about gold’s ability to fortify your portfolio. 

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - GoldPrice.net

All gold coins are not created equal, so the particular type of coin is a main determinant of its’ price. Although there are hundreds of gold coins available in today’s market, investors only consider a fraction of these coins to be “investment-grade”. Bullion coins like the American Gold Eagle and the Canadian Gold Maple Leaf carry low premiums over the active gold spot price, so short-term profit seekers purchase these coins and others like them. These low premiums permit investors to buy and sell in rapid succession.

Bullion coins are sometimes outperformed in the long run by certified rare coins, like the $20 Saint Gaudens and $20 Lady Liberty. These coins do hold higher premiums than gold bullion investments, but most long-term investors are more than willing to pay these additional premiums. Several certified gold coins have preserved and grown wealth for their owners much more successfully than gold bullion during the majority of the last decade, even with the larger initial premium. Investors who would like to learn more about the diverse gold investment options that are available should contact GoldPrice at 800-300-0715. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Gold bullion prices fluctuate based on a number of different factors, but gold’s inverse relationship with US currency and current events are two of the major contributors to a fluctuating gold price. As the dollar loses value, commodities that are priced on our dollar go up. Gold is one such commodity, so economists’ projections of a collapsing dollar have significantly influenced gold prices. Volatile financial markets and an unstable geo-political climate have aided the gold price in its rise since 2001.

Gold bullion prices fluctuate based on the active gold spot price, which is available here and at  www.Kitco.com around the clock. Gold bullion bars are usually the most affordable physical gold bullion products, and these products usually carry a 2-8% premium over the gold spot price. Investors who prefer gold bars should line their portfolios with pieces from Johnson-Matthey, Credit-Suisse, or Engelhard. The guaranteed 0.999 purity and stamped serial numbers go a long way toward instilling investor confidence and satisfaction. Investors who prefer bullion coins will pay a slightly higher premium, but the possible future value of gold coins is worth the upfront costs for some investors. Gold bullion coins that are produced by the US Mint only use gold that was mined in the United States, so American investors often gravitate toward these pieces. Investors who are unsure about what type of gold fits their needs should contact as reputable gold exchange, or contact the Certified Gold Exchange directly at 800-300-0715.

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

At noon EST gold was valued at $1044.80 per ounce, which is an increase of $15.70 for the trading day. US investors expect the yellow metal to surpass its record high of $1071 per ounce before 2010, and economists at Merrill Lynch and www.Barrons.com have called for $1500 spot prices by 2011. Track precious metal prices live using the GoldPrice ticker, which is found on this website, and is accessible around the clock. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Modern-day gold bullion coins that have been produced by the US Mint, The Royal Canadian Mint, and the Perth Mint all trade close to the gold spot price, so short-term investors buy these types of coins when they hope to earn potential profits. The $50 American Gold Eagle is one of the most popular gold bullion coins, and over 13 million of these coins have been sold by the US Mint since 1986. Bullion coins are generally used in rapid-fire buy and sell transactions, since they are subject to confiscation by the US government.

Investors who want to hold their gold for a longer period of time without the fear of a second gold confiscation typically purchase certified gold coins. Gold coin price increases are more gradual in the certified gold market, so investors who fear long-term hyperinflation and the possible collapse of our dollar may do better financially with non-confiscatable gold coins. The Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) qualify American coins for their numismatic value, and coins deemed to be in Mint State condition would be exempt from gold confiscation as they are legally decreed to be “rare and unusual coins.” Investors should visit www.Kitco.com and www.Gold-Investment.info to learn more about the various types of gold investing. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

These economists found that the Consumer Price Index (CPI) is down 1.3% since 2008, so consumers should be able to purchase that much more for the same amount of money. What our government doesn’t tell us about the CPI is that gasoline prices account for a large amount of this index. If gasoline prices are removed from the index, our CPI is up 1.2%. Gasoline prices are down 30% in the last 12 months, but 29% of these price reductions were wiped off the slate in the last six months. The acute rise in gas prices, coupled with the 12-month span that our government calculates inflation, has afforded our lawmakers with the opportunity to claim deflation even though the opposite is clearly the case.

Investors who foresee higher prices in the future may want to take advantage of inflation by purchasing commodities. Commodities are priced in dollars, so a weaker dollar means a higher gold price. Silver, platinum, and gold are liquid commodities that can be stored privately, as evidenced by the millions of Americans who have taken physical delivery of those metals. The gold price is available around the clock on the GoldPrice live ticker. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

US stocks rose in response to stronger overseas markets, especially in Asia and South Korea. If other nations’ financial markets are faring well, it could indicate that a global economic recovery is beginning to take root. This possibility will be examined further when the newest “beige book” is released. US investors are anxiously awaiting these third quarter economic readings from our government, which are due later in the week. If the US economy is lagging behind other nations in terms of solving our economic crises, the gold price could continue to rise.

The recent stock rally has caused many economists to predict a pullback in US stock indexes. "Anytime you're flirting with the top, it's hard to push through," said David Hefty, CEO at Cornerstone Wealth Management. Hefty believes that the market's recent gains will give investors reason to pause, or even sell. The DJIA, Nasdaq, and S&P 500 indexes hit their 2009 highs last week, so some skittish investors have taken this opportunity to liquidate their volatile stocks. Many of today’s investors have seen profits in their stocks during the last quarter, but the steadily rising gold price could be an indication that more investors are concerned about safety and wealth preservation. Some of these investors have purchased gold, silver, and platinum; they take physical delivery because storing the metals privately is a wise way to guarantee liquidity if a banking emergency occurs. Contact a reputable gold dealer who provides gold bullion and certified gold products, and contact the Better Business Bureau at www.BBB.org to determine if a potential dealer is worthy of your business. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Although home resales were up last month, the average price fell to $174,900, down 8.5% from last September ($190,000), and slightly lower than August's median of $177,300. The continued devaluation of US real estate has stymied property owners, who feel extorted by the housing bust. Home sales are up 23% since January, but are still down 23% from 2005, despite plummeting prices. Our government's economic stimulus included a program that grants $8000 tax credit to first-time home buyers, which has helped to elevate home purchases. Economists fear that home sales will again fall after this offer expires at the end of the month, closing another chapter in the failing stimulus package saga. Low mortgage rates have also influenced many new home "owners" to take on the debt, but the uncertainty of the job market may throw a monkey wrench into these owners’ plans for the pursuit of happiness. Although some sales were up nationwide, the West saw the largest increase in home sales last month, because high foreclosure levels in cities like Los Angeles, San Diego and Las Vegas have attracted bank-auction buzzards. Even with the additional attention from these investors, many real estate analysts predict that home prices will continue to destabilize throughout the next three years. This is why so many real estate investors have supplemented their portfolios with gold. Precious metal values fluctuate daily, and these same investors believe that the current upward trend in the gold price will continue at least until real estate devaluation levels off. The dichotomy of these markets is the reason that gold makes sense as a backup plan for so many American property owners. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Critics of the Troubled Asset Relief Program (TARP) have argued that cutting executives' salaries is a start, but it does not begin to compensate for the money that was wasted on this stimulus measure. AIG executives will receive no more than $200,000 in total compensation this year, but this figure is still significantly more than the annual income of many of the duped AIG investors. The troubled insurance giant has received more than $180 billion in taxpayer assistance through TARP, and much of this money may never be recovered. Bailout Special Inspector General Neal Barofsky has stated his worries about TARP's long-term effects. Barofsky has said that of the $454 billion that was divyied out to TARP beneficiaries, much of the remaining $317 billion balance may never be repaid to taxpayers. This venomous revelation has jolted many of our nation's investors to convert large portions of their assets into silver and gold bars and coins, which are completely private, and tax-deferred assets.

The gold market opened with a spot price of $1059.80 this morning, and only $0.40 of positive movement has been seen thus far. Some blue-chip economists predicted two weeks ago that gold could see a major pullback after climbing above its previous record of $1033, but no such pullback has materialized. This has caused many investors to increase their gold holdings, since it appears that the gold price may have had substantial reason to reach new heights. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

Not all of today's Labor Department releases were negative. The jobless rate in the Midwest fell to 9.8% in September, which was a 0.2% decline from August. The Midwest was the only region where the unemployment rate dropped last month, but citizens of Ohio and Indiana were pleased about the significant drops in unemployment levels in their states. Those two states were especially hard hit by the downturn in the manufacturing industry, so a stabilizing jobless rate could be a sign that the manufacturing sector in that region has bottomed out. Jobless levels within the US could stabilize around 10% for a short time, but when our government's stimulus expires, unemployment could take off again. Federal Reserve Chairman Ben Bernanke has said that he expects our national unemployment level to surpass 10% and remain there for some time, but many economists view this as an overly optimistic estimate, and these economists believe that an 18% unemployment level by 2012 is a more realistic outlook.

Investors who want to protect themselves from future problems with our (un)employment sector are encouraged to secure at least a portion of their assets in gold. Gold could provide profits as our nation's economic status deteriorates, but the security that precious metals provide is the reason that millions of investors have diversified within the last few years. The gold price is always available on the GoldPrice ticker, as well as spot prices for silver and platinum. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net

The report by economic research writers Timothy Aeppel and Conor Doughtery details how the earnings outlook for many of our nation's large corporations has improved somewhat during the last quarter, but widespread uncertainty as to the stamina of this "rally" still exists. Companies such as Phizer and DuPont have publicly admitted that they have cut costs drastically in order to register profits to please share holders. Many employers have had to consolidate and eliminate vast amounts of jobs during the last three years, out of fear for their own positions. Blue-chip shareholders demand profits, and companies have had to minimize costs in every possible way. Employers who bolster their staff now are at risk of becoming the scapegoat for a company's insufficient earnings. The article mentions that many of our nation's economists predict an extended period of high unemployment levels, which is an overstatement of the obvious that would astound Yogi Berra himself. Some of these same economists also say that investors do have options to combat the worsening condition of our economy. Investors who would like to see their portfolio weather the storm are encouraged to vest a portion of their assets in gold. The gold price at 9am EST is $1064 per ounce. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

Peter Schiff is an American economist and president of Euro Pacific Capital, and he believes that our economy is in grave danger of collapsing all around us. He has compared the United States economy to the Titanic, and he predicted the demise of our dollar and US real estate values far before the trends began. He feels that investors should put 30% of their assets in gold, because the government is trying to "replace legitimate savings with a printing press." Many other economists share Schiff's views, and many investors evidently do as well. Millions of investors have taken a position in the gold coin market since our economy tanked, and their continued support of the market is one of the reasons that the gold price broke all-time records repeatedly during the last two weeks. A gold investment could provide profit and safety during these troubling economic years, which is why such a large number of investors have sought proper diversification. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

Some investors have decided to take advantage of today's boosted dollar index by liquidating their dollar-based assets. Many economists thought that the gold price would decline significantly today because of the dollar's new found power, but morning losses in the gold market were compensated for by a spike in the gold price around 11am EST. This surge, which brought gold to $1055.50, was attributed to the flood of investors who shed US currency to enter the gold market. While our elected and appointed officials fret over how to save the greenback, at least one former Treasury official has concluded that fighting the dollar's downfall is pointless.

Fred Bergsten was a Treasury official during the Carter presidency, and he is now chairman for the Peterson Institute for International Economics(PIIE). Bergsten believes that an international currency needs to be developed, because our national debt is far too large for the dollar to climb out of the hole that it is presently in. Bergsten thinks that the dollar’s days as world reserve currency are winding down, and he believes that insolvency is an issue that will continue to plague our currency until it is eliminated. This would be preferable for many investors, but many of these same investors fear that our wily government surely has some sort of scheme to keep the dollar in play, which could even include gold confiscation from her private citizens. Visit www.gold-bullion.org for more information on gold confiscation and the possible ways to avoid such a scenario. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

Citigroup, which has become synonymous with our government's bailout plan, recorded a $3.2 billion loss from July-September. This a sobering blow for many investors, who previously thought that our government's rescue package was a foolproof success. Our government has a 34% stake in this New York-based bank, so today marks yet another occasion when our government's bad investments have directly hurt stock investors. Citigroup shares immediately lost 4.2% of their value when the report was published, and many Wall Street experts have declared that government-owned assets will most likely continue to devalue substantially throughout the next four quarters. The $3.2 billion that Citigroup lost in the last quarter does not account for the billions of dollars in bad loans that the company does not expect to recover. This bank lost $8 billion within the last three months due to bad loans, and the company said earlier this year that it expects loan losses to continue into fiscal year 2010. Other banks have been similarly plagued by defaulted loans, including JP Morgan Chase and Goldman Sachs. These conglomerates have also registered significant loan losses during 2009, and these banks do not expect to collect on billions of dollars in defunct credit card, auto, and home loans. The worsening financial problems of our national banking system is a part of the reason that the gold price has risen so significantly during the last two weeks, and many investors feel that these issues will continue to damage their portfolios. Gold and silver may be a wise diversification strategy, and investors are encouraged to fully research this investment avenue. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

The positive side of JP Morgan Chase's earnings report helped the Dow Jones Industrial Average(DJIA) climb over 100 points this morning, because investor confidence in our mainstream markets was boosted by the large bank's better-than-expected numbers. Economists have warned that investors should not assume that JP Morgan Chase's figures will be mirrored by other banks, because JP Morgan Chase has received ample help from our government and their level of working capital is substantially higher than that of most other US banks. Investors who question the future of our nation's unsteady banking system have been discouraged by our governmment from shifting those assets into other investments. White House economists fear that a mass migration from US-based assets could further damage our severely wounded economy, because bank capital would be lowered and US stock indexes would plummet. Many investors want to invest in our nation, but until our leaders regain the trust of the American public, many people will continue to store their money elsewhere, such as in privately held US dollars, other global currencies, and physical gold. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

It is surprising to many Americans that our government has not banned the discussion of any data that points to a declining economy, because they are fervently trying to claim that our economy is indeed again bullish. As we all know, a bear leaves obvious tracks in the woods, and a bear market leaves obvious tracks on our economic path as well. Our nation’s unemployment level is about to reach the 10% mark, 98 banks have closed already in 2009, and most companies’ third quarter earnings reports have been below average at best. Some lawmakers have tried to stand up for the American people by writing a letter to our President, clearly outlining steps that could be taken to improve our economy more effectively than the approved stimulus package. The only response was from White House economist Lawrence Summers, who merely echoed the transparent words of so many other government officials who have relentlessly claimed that economic recovery is at hand within the United States. Some investors have decided to convert their assets into cash, other major currencies, and gold. Liquidity is of the utmost importance to investors during these difficult fiduciary times, and the investors that are entering the gold market have helped the gold price rise to $1063 by 3:30pm EST, which is a 5.56% increase over the last 30 days. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

The Fed and its Chairman, Ben Bernanke, have taken a great deal of heat over the last few months for the trillions of dollars that have been poured into our broken economy. The Fed ran up a balance of $2.3 trillion with their economic stimulus plan, and $2.2 trillion of that balance remains unpaid. Bernanke recently gave our nation an update on the expansive, and expensive, recovery plan. The Fed has lent liberally to malfunctioning companies, purchased large volumes of Treasury bonds, and bought billions of dollars worth of unwanted securities.

"My colleagues at the Federal Reserve and I believe that accommodative policies will likely be warranted for an extended period," Bernanke said. Many economists fear that this continued artificial support of our economy would trigger a long-term hyperinflationary period, which could devalue cash accounts excessively and cause our consumers to lose vital spending power.

Hyperinflation is a concern for American consumers because they are already suffering from a lack of disposable income due to our struggling employment sector. The latest government reports have shown that our national unemployment rate is quickly approaching the 10% mark, and American households lost an average of 3% of their income in 2008. Some have wondered when our government officials will start referring to our employment sector as the unemployment sector, which would make it seem as if it’s simply fantastic, instead of really failing. Many Americans believe that future inflation of our currency is a real problem, and some of these individuals have purchased physical gold to give themselves some protection from our government’s maniacal monetary policies. The gold price at 11:30am EST is $1057.50, which is a $7.60 increase so far today. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

The Hulbert Gold Newsletter Sentiment Index(HGNSI) reflects the average recommended gold market exposure for investors. The HGNSI is presently at 32.2%. This means that investors are encouraged to store $0.32 of every dollar in gold in order to fully hedge their portfolios. This could be in the form of mining stocks, gold ETFs, and even physical coins and bars. Many economists who follow this index believe that the 32.2% is quite modest, since the gold price reached a new all-time high three consecutive days this week due to the dollar’s severely devalued status. Our administration has verbally opposed the intentional devaluation of our currency, but the Federal Reserve has simply paid no heed with its well-oiled printing machines. American citizens are not the only individuals who are unhappy with the dollar’s recent performance. Many of our global trading partners are fleeing from the dollar as a means of international trade. Central banks throughout Asia and Europe have repeatedly taken measures to shore up their own holdings, which include large amounts of US dollars. If other nations continue to give our dollar the cold shoulder, our government will need to devise an effective solution to appease the masses within the United States, and abroad. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

Some analysts have questioned whether our current gold rally could continue, and it seems that this week’s upcoming earnings reports could provide some needed direction for our nation’s punch-drunk markets. Many of our nation’s large corporations are scheduled to release their third quarter financial statements, and consumer satisfaction with how those companies have performed could prove to be a major influence on our various investment markets, and our pending holiday season. Significant signs of a recovering economy would be invaluable to retailers, because many of these retailers fear that sales during the fourth quarter of 2009 could be even slower than the last two holiday seasons, which were two of the worst in the last 30 years. Meanwhile, gold investors will continue to monitor fluctuating prices. Monday’s gold market closed with the gold spot price at $1003. By Tuesday, gold reached $1044. Yesterday, $1049.50 was the new all-time high spot price. This morning, gold maxed out at $1059.40, before a mild pullback reduced the spot price to $1047.60 by 10:30am EST. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

Many of our nation’s corporate giants are scheduled to release third quarter earnings reports this week, and stock investors have showcased quite a bit of anxiety over what sort of truths these numbers may tell. The director of research at Canaccord Adams believes that the earnings reports could trigger a massive shift in investor confidence. "Investors are holding tight here. There are people on both sides of the fence. A lot of people think this market is going to keep running and running and then others that are very nervous," said Eric Ross. Ross’ comments have been echoed by many economists, who believe that positive third-quarter figures could hinder commodities from increasing in value, as long as investors do not feel like the numbers have been padded by our government’s bailout and stimulus plan. If consumer confidence decreases further, our traditional investment venues may shed even more of their value. This could open the door for a wide range of commodities to outpace mainstream investments, as gold and sugar have already shown. We all hope for quick economic recovery, but many investors believe that our government has transparently attempted to artificially stimulate US-based stock markets, and many investors simply refuse to believe the “bull” market hype that our current administration has been feverishly shoveling to the four winds.  

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

October 5, 2009 – The gold price recorded significant movement in a positive direction on Tuesday morning after a British newspaper, “The Independent”, reported that a handful of nations would like to remove the US dollar as the currency on which oil prices are based. Gulf-area producers, as well as Japan, France, Russia, and China, allegedly plan to remove the dollar from this position, and replace it with stronger currencies and gold. Various nations’ representatives denied these allegations, but investors apparently believe that this report is true. The gold price reached an historic milestone this morning, surpassing $1044, and it remained near those levels throughout the trading day. 

Nations who move to drop the dollar for oil pricing will most likely utilize the yen, the euro, and gold, according to the report. The report said that a new currency is also being developed for Gulf countries like Kuwait, Qatar, Saudi Arabia, and Abu Dhabi, and this unified currency will also be used in lieu of the dollar. Mounting international disapproval of US currency is driving the value of greenbacks down. If the rest of the world continues to give our dollar the cold shoulder, there could be more investors who want to rid themselves of fiat currency. The widespread move to eliminate the dollar could "establish gold as a recognized medium of exchange, returning it a step closer to its role as money on a world trade system," said Peter Spina, chief investment analyst at GoldSeek.com. Spina believes that investors are looking for an economic recovery, but he thinks that demand for gold could be boosted over the long-term, if the United States continues to catalyze the downfall of her own dollar. 

Many investors have decided to rid themselves of US currency before it passes the devaluation “point of no return.” Some of these investors are purchasing gold, which could continue to move against the falling dollar, as it has in the past. Gold is presently valued at $1042 per ounce on the Commodities Exchange(COMEX), and this is a $24.10 increase so far today. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

October 5, 2009 - The gold price sprung when the market’s opening bells sounded on Monday, as the news of former Federal Reserve Chairman Alan Greenspan's latest comments spread. Greenspan called our Labor Department's recent 9.8% unemployment level "pretty awful," and he believes that our nation's jobless rate could surpass the 10% mark, and remain there for some time. The gold price has historically risen when our economy has faltered, and gold reflected that trend today. Many economists fear that key indicators of our economic health could remain negative for the next few years, including the jobless rate and our nation's gross domestic product (GDP), which decreased 0.7% in the second quarter of 2009. Greenspan's comments apparently carry a substantial amount of weight with investors, as demonstrated by this morning's gold price increase.
 
Greenspan mentioned other economic concerns in his "This Week" interview on ABC. The former Fed Chair mentioned that the federal debt and the federal deficit are presently a concern, and he believes that they could become a much larger problem in the future. When questioned about our nation's unemployment rate that is rapidly approaching the 10% mark, Greenspan said that his "own suspicion is that we're going to penetrate the 10% barrier and stay there for a while before we start down." There are over 5 million Americans who have been out of work for six months or more, which is quite curious behavior for a "recovering" economy. The failure of the Obama White House to generate jobs during this precarious time could have an extremely detrimental long-term effect on our economy. Investors who fear that our economy could suffer more extensive damage are encouraged to carefully consider a precious metal security hedge, as an insurance plan against chaotic, economic folly.
 
Gold has historically held value as a safe-haven asset during stifling financial periods, and many investors enjoy the privacy and liquidity of precious metals. Precious-Metal.org contains a multitude of information on investment-grade gold, silver, and platinum products. The gold spot price at 11am EST is $1006.80, which is a 0.35 % increase for the trading day. 

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Stewart Lawson

Senior Staff Writer - GoldPrice.net

The Obama administration approved and passed through Congress a $11 trillion expenditure for the bailout and economic stimulus package, which was suppsed to jump-start our troubled economy. Short-sighted officials organized short-lived programs that provided short-lived benefits, and the long-term outcome of this experiment presented the very results that many feared it would. This program did aid the growth of some stocks, but that growth could be short-lived since investors are cashing out of those stocks rather than buying more. Government officials predicted that higher stock values would draw more investors, but "you can't put horns on a bear for a couple of months and magically turn it into a bull," as one savvy investor pointed out. Investors are actively searching for a safer way to store and grow wealth, and many individuals are looking at precious metals and cash accounts as their last options. Both provide instant liquidity, which is a high priority for investors during tumultuous fiscal periods. Precious metals do not accrue any interest, but the return rates for many savings accounts and certificates of deposit(CDs) are less than rewarding. In past inflationary cycles, cash accounts actually lost spending power over time, even if the numbers within the account grew larger. Investors who fear this same scenario, are more apt to invest in gold and silver.

Gold and silver provide investors with a privately held, liquid asset that is projected to vastly outperform stocks and housing markets over the next 10 years. GoldSilver.org contains the pertinent information that investors will find essential to making a wise move into precious metals. The gold price is now $1002.70, and the metal that has increased more than $700 since 2001 could continue to rise, unless our government quickly finds a way to fix our depressing economic circumstances. 

Daily Updates Archive

Stewart Lawson

Senior Staff Writer - GoldPrice.net