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GoldCore Precious Metals Update
Tue, Jul 7 2009, 10:34 GMT
by GoldCore Bullion Services Team
GoldCore | View company's profile
Gold
Gold is presently trading at $925.00 and seems to be looking for guidance from currency movements. The market remains directionless with GBP/USD, EUR/USD and stock markets having come off their yearly peak at the start of June. The range still remains $913 to $945. One should be cognisant that this drifting price range remains despite the unfolding deteriorating economic backdrop. In the US, California's debt rating was slashed to near Junk overnight while this morning in the UK it has been confirmed that British manufacturing output unexpectedly shrank in May, making it less likely that the economy returns to growth in the second quarter of 2009. Sterling is likely to come under pressure again as there are increasing concerns about the huge UK debt issuance and oversupply of UK government bonds – some asset managers and banks are calling for the UK to issue debt denominated in foreign currencies. This should see gold in sterling continue to rise.
Silver
With the market trading at $13.26 a similar story can be reiterated for silver with a current range of $13.00 to $13.63.
PGMs
Platinum is currently trading at $1,143.00 and rhodium at $1,1285.00.
Published on Tue, Jul 7 2009, 10:36 GMT
Gold and Silver Investments Limited
| 63 Fitzwilliam Square, Dublin 2, Ireland
http://www.goldcore.com | info@goldcore.com
Archive
- GoldCore Update: Sterling Gold Near Record Highs as Election Looms and Economic Outlook Uncertain
Published On Fri, Mar 19 2010, 14:28 GMT - GoldCore Update: Gold Volatile on Weaker Euro and Renewed Greek Concerns
Published On Fri, Mar 19 2010, 09:58 GMT - GoldCore Update: Federal Reserve Rising Interest Rates Positive for Gold?
Published On Tue, Mar 16 2010, 13:51 GMT - Gold Supported by Geopolitical and Sovereign Risk as S&P and Moodys Warn US
Published On Mon, Mar 15 2010, 15:31 GMT - Gold Technicals: Weekly Loss Will be Bearish But Fundamentals Remain Positive
Published On Fri, Mar 12 2010, 12:22 GMT
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
Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Mon, Mar 22 2010, 13:24 GMT
USD direction, GOLD, USDCHF by Z-forecasting
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Mon, Mar 22 2010, 13:04 GMT
EUR/USD: Bearish pressure continues by FXstreet.com Independent Analyst Team
Mon, Mar 22 2010, 11:34 GMT
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