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Newsflash
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LONDON – Goldessential.com – Jul 2 – 10.02GMT
NOTICE: U.S. Markets are closed on Friday in observance of the Independance Day Holiday.
Our London office will be closed on Friday afternoon.
For urgent questions, clients may contact their account manager.
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MarketWire
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LONDON – Goldessential.com – Jul 3 – 9.18GMT
MARKET REPORT:
Spot gold is seen trading higher on Friday, after falling prone to renewed weakness below the $928 mark the prior day.
One London gold dealer said that gold prices were ranging between $920 and $945 an ounce on the short-term, but that the risk was still biased to the downside as any re-emerging physical demand at lower levels was fading as prices nudged up again.
Evelyne Winters at Goldessential said that “including intraday movements on Friday, gold has seen four consecutive sessions of higher lows, which is constructive, given it still nicely bounces off the $927 an ounce Fibo support mark”. She however adds that “resistance at $941.75 (38.2 pct retracement of the $894-$989.80 an ounce mark) is becoming formidable, and says that “in essence, it’s just fluctuating between these two Fibo marks (38.2 pct at 941.75 and 50.0 pct at $927)”.
She pegs support at $921-$920 and says anything below here is likely to see $900 tested “soon”.
(ew) |
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MarketWire
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LONDON – Goldessential.com – Jul 3 – 6.29GMT
BREAKING:
Holdings on behalf of investors in the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, were unchanged at 1,120.55 tonnes as of Thursday July 2nd, since dropping 0.46 pct or 5.19 tonnes on Tuesday, June 30. |
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MarketWire
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LONDON – Goldessential.com – Jul 2 – 15.40GMT |
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Last Updated ( Friday, 03 July 2009 )
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MarketWire
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LONDON – Goldessential.com – Jul 2 – 13.04GMT
MARKETWIRE: |
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Research
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PREMIUM SERVICES
LONDON – Goldessential.com – Jul 2 – 11.42GMT
Daily Market Analysis
PREMIUM SERVICES
LONDON – Goldessential.com – Jul 2 – 11.42GMT
Daily Trading Strategy |
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MarketWire
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LONDON – Goldessential.com – Jul 2 – 11.16GMT
MARKET REPORT
Gold traded lower on Thursday ahead of a batch of economical data and as the EUR/USD pair consolidated following Euro zone unemployment hitting its highest level in 10 years in May, data showed.
At 11.15GMT, spot gold was quoted $933.10 an ounce, down from $940.25 an ounce late in NY on Wednesday. At the same time, the EUR/USD pair was down 0.61 pct to 1.4063.
One London FX dealer said that the weak readings on the unemployment front would likely keep the ECB firmly on the low interest rates path.
The ECB is due to announce an interest rate decision at 11.45GMT, although markets largely agree that it will be a non-event. Nevertheless, they will keep a keen eye on the accompanying press conference at 12.30GMT, which could shed new light on how the central banker perceives the – if any – economic recovery. |
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India Gold
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LONDON – Goldessential.com – Jul 2 – 8.59GMT
India Gold
Gold futures on India’s Multi Commodity exchange were slightly lower on Thursday, as some profit taking was seen ahead of the release of the U.S. jobs report later today. One local trader added that some weakness originated from overseas NY gold futures, which were unable to hold to their earlier gains above the $940 an ounce mark in overnight electronic trading. |
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MarketWire
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LONDON – Goldessential.com – Jul 2 – 8.50GMT
MARKET REPORT
U.S. Gold futures rallied on Wednesday, undoing all of the previous day’s losses as the U.S. dollar sank on news that that China altered its tone on the U.S. dollar as a global currency reserve.
The benchmark August delivery gold futures contract GCQ9 – ended $13.90 or 1.5 pct higher at $941.30 on the COMEX division of the NYMEX, after having hit as high as $947 an ounce, its highest since June 26.
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