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GoldCore Precious Metals Update
Thu, Jun 25 2009, 14:20 GMT
by GoldCore Bullion Services Team
Gold
Gold is trading at $933.50 and remains subdued overall. Near term
resistance and support are currently $944 and $913 respectively.
Direction may be poised to come from EUR/USD moves and the EUR/USD is
maintaining equilibrium despite a positive world economic outlook from
the OECD. This positive news is paired against continuing geo-political
risk and negative USD comments overnight from a senior Chinese
official. The Head of the Economics Department of the ruling Communist
Party research office said that “The US is printing dollars on a
massive scale, and in view of that trend, according to the laws of
economics, there is no doubt that the dollar will fall. So gold should
be a better choice”. Reuters reported his comments "If the yuan should
go international or become a reserve currency, China needs more gold to
back that." These comments are bullish of gold's medium term prospects.
Meanwhile in Europe, in a move to resuscitate the credit markets the
ECB pumped a record €442.2bln into the Eurozone banking system in its
first ever offer of unlimited one-year funds. This is also positive for
gold in the medium term.
Silver
Silver is currently trading at $13.88 and resistance and support remain at $14.13 and $13.63.
PGMs
Platinum trading at $1,173, Palladium at $ 234.00 and Rhodium at $1,225.00.
Published on Thu, Jun 25 2009, 14:21 GMT
Archive
- GoldCore Update: US Interest Rates to Remain Exremely Low for an Extended Period of Time
Published On Thu, Nov 5 2009, 14:02 GMT - Silver Set To Soar As It Did In The 1970s
Published On Wed, Nov 4 2009, 13:16 GMT - GoldCore Update: Gold's New Record Price Over $1,093/oz - $1,200/oz By Year End?
Published On Wed, Nov 4 2009, 13:10 GMT - GoldCore Update: ECB Sees Gold as Important Asset and India Buys 403 Tonnes of IMF Gold
Published On Tue, Nov 3 2009, 13:48 GMT - GoldCore Update: G20 Finance Ministers Meeting and LBMA Precious Metals Conference in Scotland
Published On Mon, Nov 2 2009, 15:10 GMT
Gold and Silver Investments Limited
| 63 Fitzwilliam Square, Dublin 2, Ireland
http://www.goldcore.com | info@goldcore.com
Legal disclaimer and risk disclosure
The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. Gold and Silver Investments Limited, trading as Gold Investments is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.Related reports
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