GoldCore's blog
Gold Bubble? “More People That Own Apple Stock Than Gold”
Submitted by GoldCore on 05/04/2012 11:02 -0500
Gold is down 1.6% on the week. The gold market has seen peculiar, lack lustre, low volume trading this week punctuated with sudden, oddly timed, very large sell orders. This leads to quick price falls followed either by slow, gradual recovery or a sharp bounce, prior to next bout of strangely timed sudden large sell orders.
This was clearly seen by the mysterious and massive $1.24 billion ‘Goldfinger’ trade on Monday.
Manipulative Gold ‘Fat Finger’ Or Algo Trade Worth 1.24 Billion USD
Submitted by GoldCore on 05/02/2012 03:57 -0500
Gold’s London AM fix this morning was USD 1,661.25, EUR 1,253.02, and GBP 1,024.70 per ounce. Yesterday's AM fix was USD 1,662.50, EUR 1,256.61 and GBP 1,021.44 per ounce.
Silver is trading at $30.85/oz, €23.37/oz and £19.10/oz. Platinum is trading at $1,570.00/oz, palladium at $677.60/oz and rhodium at $1,350/oz.
Gold “Buying Opportunity” - Gold Analysts More Bullish On Central Bank Demand
Submitted by GoldCore on 04/27/2012 10:44 -0500
The Fed’s promise to use more QE should the economy falter is supporting gold.
The global economic picture remains grim, with euro zone economic sentiment falling more than
expected in April and the US job market recovery showing signs of a slowdown.
Apple earnings and the tech boom and indeed possible tech bubble remains one of the primary
drivers of continuing irrational exuberance and risk appetite.
The poor and deteriorating economic backdrop is gold supportive.
Gold “Bargain of Lifetime” As Gold Standard Inevitable, Possibly Within Year - $10,000/oz Looms
Submitted by GoldCore on 04/26/2012 11:03 -0500
Support for gold is at $1,612/oz and resistance is at $1,663/oz and $1,684/oz.
Silver Seen Over $40/oz in 2012 – Store of Value Remains Undervalued
Submitted by GoldCore on 04/20/2012 11:09 -0500
Gold rose $1.50 or 0.09% in New York and closed at $1,640.80/oz yesterday. Gold traded sideways in a narrow spread in Asia and continued this in European trading climbing up around 0.16%.
Gold rose quickly from $1,631/oz to nearly $1,650/oz in minutes on volume with some chunky 3000 lot plus batches of orders going through on the COMEX pushing gold up. A determined seller again appeared and gains were capped at that level.
Gold Consolidating Over €1,200/oz As Spanish 10 Year Hits 6.15%
Submitted by GoldCore on 04/16/2012 11:48 -0500There is the slow realisation that the complacency of recent months was again misplaced. It remains obvious that the euro zone debt crisis is far from over and this will support gold in the coming months – especially in euro terms.
Gold in euro terms has been consolidating above €1,200/oz for six months now. With the eurozone crisis set to deepen and the continuing risk of contagion, we could see gold break out in euro terms prior to doing so in dollars, pounds and other currencies.
