Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
In the same category

Euro, Iran and Asian New Year Buying Fuels Gold

IMG Auteur
Published : January 05th, 2012
412 words - Reading time : 1 - 1 minutes
( 1 vote, 4/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 

 

Gold is trading at USD 1,612.90, EUR 1,256.10, GBP 1,037.30, CHF 1,530.40, JPY 123,934 and AUD 1,573.0 per ounce.


Gold’s London AM fix this morning was USD 1,614.50, GBP 1,038.33, and EUR 1,256.32 per ounce.


Yesterday's AM fix was USD 1,603.00, GBP 1,024.28, and EUR 1,229.96 per ounce.



Cross Currency Rates


The fifth day of price rises is the longest rally we've seen in two months. Concerns about the solvency of European banks and sovereigns is overcoming the 'risk on' appetite of late 2011 and early 2012. The euro has fallen to 1.2840 USD and to €1,256/oz.


Growing tensions with Iran including the European Union's preliminary agreement to ban Iranian oil, will fuel gold's  safe haven status for investors.




Gold is trying to consolidate above psychological levels of $1,600/oz, £1,000 and €1,200/oz. The 200 day moving average is $1,631.60 which remains resistance. The intraday high hit $1,624.66, was gold's highest price since December 21.


We expect gold demand to pick up ahead of the Chinese Lunar New Year, The Year of the Dragon, which begins on January 23.




SILVER 
Silver is trading at $29.04/oz, €22.61/oz and £18.67/oz 


PLATINUM GROUP METALS 
Platinum is trading at $1,409.50/oz, palladium at $640.00/oz and rhodium at $1,425/oz.


NEWS
(Business Week)
Gold Gains as Physical Asian Demand Offsets Sales After Rally


(Reuters) 
Gold up on seasonal China buying; Iran eyed


(Reuters) 
Gold jumps after preliminary EU deal on Iran oil ban


(Wall Street Journal)
PIMCO's Gross: Gold is pricey but has room to rise if Fed stimulates more


COMMENTARY
(The Washington Post)
O'Byrne Says $2400 Gold `Quite Likely' in Coming Years


(Wall Street Journal) 
Academics Say Gold Bulls "Driven By Emotions"


(Jim Sinclair’s Mineset)
Negativity In Gold Reaches Epic Levels


(King World News) 
John Embry - Gold Will Not Trade Below $1,500 Ever Again


(The Christian Science Monitor) 
Are gold prices dropping for good?


(Bloomberg)
`Currency Wars' Will Be `More Brutal' in 2012


TWITTER 


-Soros: Euro Failure Would Have 'Catastrophic' Impact – Bloomberg
-Soros: Possibility of Euro Failure Being Priced in By Markets – Bloomberg
-Gold Climbs For Fifth Day. Good Time to Diversify For Volatile 2012
-Gold's 'Bear Run' Since August Has Ended, Gartman Says – Bloomberg
-Gold Consolidating Above $1,600/oz, £1,000/oz & €1,200/oz
-$15,222,940,045,451.09 (+) #nationaldebt


GoldCore Announcement
Our daily Market Update will be of a shorter duration going forward and we will be introducing a new more comprehensive Weekly Review which will be sent to clients, websites and media every Friday afternoon


Mark O’Byrne

Goldcore

 

 

Companies Mentionned : Metals X | Platinum Group Metals |
Data and Statistics for these countries : Iran | All
Gold and Silver Prices for these countries : Iran | All
<< Previous article
Rate :Average :4 (1 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
41 Facts about Central Banks no ...
20 Decprljr
Common sense and logic dictate that if this was taught in schools it would not exist as it has these past 100 yrs. The monetary system is a CON a L...
41 Facts about Central Banks no ...
19 Decsamking73
I'm not sure that much was taught about the central banking system back when I was in school...25 + years ago. At least not the important parts.
Gold & Silver Market Morning
19 Decend
If you trade XAU/RUB and have bought XAU using RUB, you should have closed your position as he advised. Then you should have switched, buying gold ...
Muslim terrorism, the left and t...
19 DecFirebear1
All please understand this person was a Muslim,that was his believe! His character was that of a criminal as was shown by his action on the day and...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Torture just put the moral line lower. Lets think about American exceptionalism. What we want ? we want to spread and defend that exceptio...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Utilitarianism is bad philosphy. I'm also very disgust about torture. It will backfire in our face. We are now no better than ou...
Napoleon vs. Cheney: "Interrogat...
18 DecJosu O.5
I cannot overstate how important is that every american read this article. It's absolutely wonderful how you have summarized every aspect around to...
Muslim terrorism, the left and t...
18 Decend0
Does anyone still wonder why is Australia hotbed for second generation Muslim migrant radicalization? Does anyone still need an explanation on why ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.