Today’s AM fix was USD 1,781.00, EUR 1,374.65,
and GBP 1,098.77 per ounce.
Yesterday’s AM fix was USD 1,755.25, EUR 1,365.32and GBP 1,084.16 per
Silver is trading at $1,670.75/oz,
€26.96/oz and £21.52/oz. Platinum is
trading at $1,670.75/oz, palladium at $637.90/oz and rhodium at $1,075/oz.
Gold climbed $26.00 or 1.48% in New York yesterday and
closed at $1,777.30. Silver surged to hit a high of $34.74 and finished with
a gain of 2.15%. Euro gold rose to a new record high at €1377.
Gold prices are up on Friday, as the new austerity
budget from Spain was received favourably and it
increased the appetite for higher risk assets, sending bullion, commodities
– brent crude oil at $112, the euro and
equities to rise.
Gold prices in euros held near the prior session's all
time record high of EUR 1,380/oz, hit after rising
spot prices coincided with a weaker euro on Thursday. Euro-priced gold was up
1.1% at EUR 1,375.48/oz.
US gold futures for December delivery were up $2.50/oz at $1,783.00 this morning.
Quarterly performance for, gold, silver and platinum
were all up. Gold is on the way for an 11.4% gain. Silver racked up the
largest gain and rose over 25%. Spot platinum and palladium were up 15.4% and
9.8% for the 3rd quarter. US gold American Eagle coins was
improved from last quarter (138,000 ounces vs. 133,000 ounces) however still
the lowest quarterly figures in over 2 years.
Gold reached highs in euros and Swiss francs yesterday,
in London trading it hit EUR 1,379.60/oz compared
to EUR 1,375/oz last September. In Swiss Francs
gold traded at CHF 1,666/oz.
Europeans have been viewing scenes of violence and
riots from protestors in Madrid and Athens over the past few days.
Barclays Plc. announced yesterday it was opening its
own London vault to store gold and other precious metals due to demand from
Investment banks have readjusted price targets upward
in the past few days with some calling for gold at $2,000 and higher in the
next few months.
This signals that the recent rally of the euro against
the dollar was largely due to the poor US monetary and fiscal situation and
the greenback’s weakness and not due to any great confidence in the
single currency per se.
Protests and violence clearly show that the eurozone debt crisis is far from over and there remains
the risk of a currency crisis in the European Monetary Union (EMU).
Finally, we are confident that the new record euro and
Swiss franc highs will soon be followed by new highs in gold.
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Gold Sets Records in Euros and Francs on Currency
Concern – Business Week
Gold rises to record in euros, swiss
francs MarketWatch (blog) –
Barclays Opens Precious Metals Vault in London as
Demand Climbs – Business Week
Spain Must Leave The Euro – The
Barclays Opens Massive Brand New Precious Metals
Vault In London – Zero Hedge
More Incredibly Important Developments In The Gold
Market – King World News