The price of gold futures climbed for the sixth day in a row, touching though never decisively breaking through the $1,200 per troy ounce level. On Wednesday afternoon, the price of gold rose $10.70 to $1,198.20 per troy ounce. Gold set a record high in June of over $1,266 per troy ounce. Since then, the… Read more.
Gold and silver futures saw solid gains on Friday, as traders looked for haven assets that might perform better while the pace of economic growth in the U.S. slows. Gross domestic product data released by the Department of Commerce showed that while the economy continued to produce more – growing at an annual rate of… Read more.
The federal government released GDP growth figures on Friday, with the Department of Commerce reporting that the U.S. economy expanded at an annual rate of 2.4 percent – positive, but less than first-quarter figures of 3.7 percent or 2009’s solid 5 percent growth rate. The news had a generally negative impact on markets, as it… Read more.
James Bullard, the President of the Federal Reserve Bank of St. Louis, helped spook stock markets on Thursday when he warned in a research paper that the U.S. is close to entering a deflationary trap similar to the “lost decade” experienced by Japan. In order to stave off deflation, Bullard recommended further quantitative easing –… Read more.
The two metals diverged in Wednesday trading, with physical demand and investors seeking a discount moving into gold, while bearish economic data hit silver. Gold closed 0.2 percent higher at $1,160.40, while silver settled at $17.44, an unexpected drop of 1.1 percent. Silver lost out today, with weak consumer demand for durable goods affecting the… Read more.
It wasn’t a good day to be long in commodities, with most major commodities except for cocoa, cotton, corn and orange juice futures taking hits as traders registered their fear of a global slowdown. The trend started in stock futures, which pointed slightly lower and then quickly tumbled. All three major indexes ended the day… Read more.
Gold futures fell sharply Thursday to settle at $1,206.70 per ounce on the Comex in New York, reflecting a general flight to the perceived safety of the dollar and dollar assets. Investors appeared to favor Treasury notes and safe bonds, registering their fear that deflation is a greater threat than inflation. The Spanish Treasury sold… Read more.
Concerns about sovereign debt, weak employment and a deflating housing market all helped push the price of gold up today. Gold futures for immediate delivery rose by $12.80 to $1247.60 per troy ounce, off of the yellow metal’s earlier record highs but its strongest performance of the week. Gold was basically reacting to the generally… Read more.
Silver futures for immediate delivery rose .24 percent to $18.90 per troy ounce today, beating out gold futures and raising some expectations that silver could continue to perform well through this year and on to the next. The past month has seen silver outperform gold by about 1 percent, even as gold repeatedly hit record… Read more.
Gold futures for August delivery fell from the record prices they reached on Tuesday as stock markets moved a bit higher in early trading. Gold prices decreased by 0.9 percent to about $1,234.80 per ounce. The demand for gold is split between physical demand, mostly for jewelry or a few industrial processes, and hedging or… Read more.