Etoro

For the past five weeks the price of gold has made consistent gains but many market analysts believe that this week may see the price of the precious metal retreat a little. However, this dip is believed to be a short term trend that will quickly reverse, as many traders at eToro (your capital is at risk) and other commodities trading sites are predicting that gold prices are set to rise during 2012.

The price of gold fell during Friday’s New York trading session, closing at $1,740.30 an ounce, which was down on the day but marginally up on the week once again. The main catalyst for the sudden dip in the price of gold on Friday was strong US employment figures and the news of 243,000 jobs being created, which boosted the strength of the US dollar. Because gold is traded in US dollars, the stronger the dollar is the weaker gold is. This is why gold struggled against the strong dollar on Friday.

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Forexyard

The US Federal Reserve is announced a strategy to stimulate their ailing economy by selling $400 billion of its short-term securities and exchanging them for $400 billion in long-term securities, a move that’s designed encourage lending and borrowing among US banks and businesses. However, this news caused the price of gold fall and the dollar to rise at ForexYard and other online commodities and Forex brokers.

Following the news from the Feds, the price of safe haven commodity – gold – fell by over $26 per troy ounce during Wednesday’s trading sessions. The price of gold at ForexYard fell from $1,809.10 to $1,782.60 but, most unusually, the price of silver rose during the day. Silver prices normally shadow gold prices but today things were different. As gold was shedding dollars the price of silver rose by a little under 1 per cent, while palladium and copper also made small gains.

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Etoro

Thanks to the world’s numerous financial crises and investors’ appetite for safe haven options, gold trading is as popular as ever at eToro (your capital is at risk) and other leading online brokers. The price of gold has been rocketing over the last few months, reaching a new record high of $1,681.65 per ounce during Thursday’s trading sessions, but will the gold bubble burst or can we consider the precious metal a safe commodity to trade for the foreseeable future?

As silver prices almost always mirror the fortunes of gold prices, the price of silver has been on the rise too, climbing by over 25 per cent over the last year. Gold and silver have been bucking the trend recently, with both of their prices significantly increasing, while practically all other commodities and stock markets have been recording negative numbers during the same period.

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Etoro

Once again the price of gold has surpassed record highs, trading as high as $1,609.30 per ounce at eToro (your capital is at risk) during the Tuesday trading sessions. The new record price for gold has come about largely due to weakened dollar and the troubled euro, as commodities and Forex traders sell dollars and euros in favour of the safe haven commodity that is gold.

Even though gold prices have retreated a little since Tuesday, at the time of writing this article gold was being sold for $1,589.53 at eToro (your capital is at risk), with no sign of a landslide fall in the precious metal’s fortunes anywhere in sight. Gold’s most recent charge is mainly due to economic issues and weak currencies on both sides of the Atlantic.

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Etoro

Speculators and investors at eToro (your capital is at risk) and other online commodities brokers witnessed gold prices soar on Wednesday, breaking the ‘golden’ $1,500 mark in the process. And just like previous hikes in the price of gold, the price of other commodities benefitted too. This latest advance by the valuable metal has gone further than many analysts predicted and if you were on the gold wagon as it reached these dizzy heights on Wednesday you should be a happy trader right now.

Last week fear of inflation pushed gold prices up to the dizzy heights of $1,486 and the just the same as today, other precious metals including silver also climbed in value. Today silver traded above the $45.00 mark, climbing by 54 cents and hitting a 31-year high for the heavily traded commodity but what does the future hold for commodities such as silver and gold?

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Forexyard

Fears of inflation pushed gold prices up during Friday’s trading sessions as traders at ForexYard and other online Forex brokers saw the precious metal as a safe hedge against the impending inflation rise expected in the US. A rise in inflation will often suppress a currency, which is the US dollar in this case. And traders have been selling dollars and buying gold, which has pushed its price to new highs.

During Friday’s US trading session gold climbed by 0.9 per cent to $1,486 per ounce before declining a little. However, it wasn’t just gold that was on the move. Traders also opted for silver as a safe haven commodity as they sought risk aversion tactics as the dollar fell. Silver closed this evening at $42.57 an ounce, which is a 31-year record high for the popular precious metal. The advances of silver made an overall gain of 2.2 per cent on the week.

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Etoro

During yesterday traders at eToro (your capital is at risk) saw gold climb to a near-record high thanks to the turmoil in Libya and the Middle-East. Silver has also benefitted from the unrest in the Arab nations, climbing to its highest level since 1980. Oil too increased in price due to the uncertainty in the region, making it to over $100 per barrel.

In a similar fashion to Forex traders when they buy US dollars and Swiss francs to reduce risk, gold is also considered a safe haven commodity that’s seen a huge rise in demand so far this week. This demand for the sought after precious metal saw it rise in price to $1,435.60 per ounce yesterday as traders shifted investments to avoid the market turbulence caused by the unrest in the Middle-East.

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Etoro

Yesterday saw North and South Korea exchanging a volley of shells near to their disputed border territories and as any good skirmish does, the Korean conflict boosted gold prices at online brokers such as eToro (your capital is at risk). However, the civil unrest in Korea only managed to create a temporary spike as the strengthening dollar quickly suppressed the rising price of gold.

You may be wondering how an outbreak of military conflict can affect the price of gold, there certainly aren’t any gold plated tanks that I know of! Once news of the conflict in Korea had made its way across Asia risk aversion tactics were quickly employed. These tactics included selling local currencies against the US dollar, a popular safe haven for investors and in turn pushing up the price of gold.

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Forexyard

Today the price of gold has hit a new record high of $1,422 per ounce as many traders choose to invest in the safe-haven that is gold. Traders at ForexYard saw the value of the precious metal climb following the US Federal Reserve’s announcement of a second round of quantitative easing measures. Gold prices continued to flourish despite the strength of the US dollar, and it was hitting new highs in other denominations too, coming in at EUR 1,020 an ounce and GBP 878 today.

As is normally the case, the price of silver has shadowed the price of gold, with silver prices hitting a 30-year high just shy of $29 per ounce. Other precious metals such as palladium have also been boosted by the weak US dollar and uncertainty surrounding the US economy.

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Etoro

Gold hit record highs as the dollar slumped following news from the US Federal Reserve that suggested that it may take precautionary steps to stimulate the US economy. Traders at eToro (your capital is at risk) and other Forex markets across the globe witnessed the greenback’s demise, which in turn pushed the spot price of gold to an all-time record price of $1,290.70 an ounce.

The US Federal Reserve stated that it would intervene if necessary to avoid deflation but this news triggered an immediate selloff of the dollar. These proposed moves are an attempt to support the economic recovery in the US and to return inflation back in line with the Reserve’s mandate.

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