Gold holding above the key level of $1,300 an ounce
Park Avenue Numismatics, Miami Beach, FL – May 7, 2014 – Gold is off slightly in morning trading on Wednesday, reacting to reports of talks aimed at resolving the conflict between Russia and the Ukraine. Russian President Vladimir Putin said Wednesday that he was ready to discuss a way out of the Ukrainian crisis with the head of the Organization for Security and Co-operation in Europe, according to a Reuters report. The escalating crisis has helped boost gold, and many believe that tensions probably won’t go away soon. It’s a positive sign that regardless of this news, Gold held above the key level of $1,300 an ounce Investors are also waiting to hear the remarks from Federal Reserve Chairwoman Janet Yellen later in the day. At last checked, gold at $1,304.20 an ounce and Silver was $19.54 an ounce.
Gold flat on Tuesday, staying near its three week highs
Park Avenue Numismatics, Miami Beach, FL – May 6, 2014 – Gold down slightly on Tuesday, staying close to its three-week highs as tensions mount in Ukraine and uncertainty in the stock markets combined to provide support for Gold at these levels. Gold was last trading at $1,308.70 an ounce, while Silver inched up 3 cents to $19.72 an ounce. On Monday, gold prices rose to their highest close since April 14, as tensions abroad drew investors to the perceived “safe haven” of Gold, which has reclaimed the closely watched level of $1,300 an ounce. Gold is taking a healthy breather after advances in the last couple of trading sessions. The Ukraine-Russia conflict is not going away anytime soon and this will help limit selling pressure in the gold markets in the short term.
Gold hits its highest price in three weeks
Park Avenue Numismatics, Miami Beach, FL – May 5, 2014 – Gold is up in early Monday trading as fears over increased about the unrest in the Ukraine. The early morning spike has taken Gold to a level not seen in at least three weeks. Gold rose as much as $13.40 to $1,317 an ounce. If Gold closes a these levels, it would be the highest price since since April 14. Gold prices ended last week on an upswing as and scored its first daily gain in five sessions and pushed past the $1,300 mark on escalating tensions in Ukraine. More tensions surrounding Ukraine over the weekend and into Monday drove investors out of stocks and into perceived safe havens such as gold.
Gold spikes higher as tensions rise in the Ukraine
Park Avenue Numismatics, Miami Beach, FL – May 2, 2014 – Gold prices climbed above $1,300 an ounce on Friday, getting a safe-haven boost with Russia reportedly calling for an emergency United Nations meeting to discuss Ukraine. Support from the increasing tension over Ukraine offset earlier pressure from a stronger-than-expected U.S. jobs report. Gold jumped as high as $19.30 an ounce. Prices had turned negative after the employment data earlier in the day, seesawed between losses and gains, then rallied following news reports surrounding Russia and Ukraine.
Gold holds just under $1,300 an ounce
Park Avenue Numismatics, Miami Beach, FL – April 29, 2014 – Gold futures closed under $1,300 an ounce on Monday, giving back part of the gains they saw in the previous sessions, but prices managed to settle off the day’s low. Gold settled in at $1,299 an ounce, off the low of $1,292.10. The decline may have had something to do with the fact that Newmont Mining Corp had dumped the merger and acquisition negotiations with Barrick Gold Corp. The small pullback may also be due to a strong day in the equities on Monday that added confidence to the market and traders may have taken off the “safe haven” trade for now.
Gold continues its gains on Friday
Park Avenue Numismatics, Miami Beach, FL – April 25, 2014 – Gold continues its gains on Friday, and setting up for a third-consecutive rise as tensions between Russia and Ukraine escalate.
Gold is up over $10.00 to $1,305.30 an ounce during the trading day. Silver is up .13 at $19.88 an ounce. Ukrainian Prime Minister Arseny Yatseniuk accused Russia of wanting to start a third world war by occupying Ukraine, news reports said. U.S. President Barack Obama said he would consult Friday with European leaders about the crisis in Ukraine and continued to warn he was prepared to move ahead with more sanctions against Russia.
Tensions between Russia and Ukraine lift Gold prices on Thursday
Park Avenue Numismatics, Miami Beach, FL – April 24, 2014 – Gold climbed on Thursday, with prices headed back towards $1,300 an ounce as tensions between Ukraine and Russia intensify. This moved traders back into Gold for its safe-haven appeal. Prices were trading at under $1,280 when news reports broke that Russia planned to launch military exercises near the Ukraine border in response to the latest clashes in which at least five pro-Russian activists were killed. Gold tacked on $7.00 to $1,2821.70 an ounce during midday after trading as low as $1,268.40. Many analyst believe that gold could be the biggest beneficiary of this situation and in no time we could move back above the $1,300.
Gold up in early trading on Wednsday
Park Avenue Numismatics, Miami Beach, FL – April 23, 2014 – Gold futures bounced back Wednesday from the lowest close in three weeks as tensions in Ukraine, weakness in U.S. equities after a six-day winning streak and fall in U.S. existing homes sales fueled some safe-haven demand for the metal. Gold edged up by $4.90, or 0.4%, to $1,286 an ounce in early trading. Silver rose 9 cents, or 0.5%, to $19.45 an ounce.
Gold had a high/low trading range of $47 per ounce last week
Park Avenue Numismatics, Miami Beach, FL – April 21, 2014 – Gold had a high/low trading range of $47 per ounce last week ($1,331.40 to $1,284.40). It closed the week’s trading on Thursday at $1,293.90 per ounce (Friday the market was closed for the Good Friday holiday). Gold dropped below the key $1,300 per ounce level, losing $25 per ounce during last week’s holiday shortened trading. Today, due to the sharp outflows from the world’s biggest bullion-backed exchange-traded fund (ETF) and a stronger dollar, Gold could not rally back above $1,300 per ounce. The Gold stockpile at GLD dropped to 795.14 tonnes, the lowest level since January. After an overnight attempt to rally, Gold has traded down, reaching a low of $1,280 per ounce.
Gold moves higher on Dovish Fed Minutes
Park Avenue Numismatics, Miami Beach, FL – April 11, 2014 – Gold moved up over 1% yesterday on dovish Fed minutes while U.S. stocks went lower on negative trade data from China and better-than-expected jobless claims. The sell-off in stocks was renewed in the wake of minutes from the last Federal Reserve Open Market Committee meeting. The Federal Reserve’s statements on monetary policy bode well for gold. All the major stock indices are sharply lower and the price of gold is up more than $13. Gold last traded at $1,320 an ounce. Silver at $20.09 an ounce.