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GoldCore Precious Metals Update
Wed, Aug 19 2009, 10:38 GMT
by GoldCore Bullion Services Team
GoldCore | View company's profile
Gold
Gold in dollar and euro terms has slipped this morning in volatile
trading conditions as the dollar gains ground. However, gold is up
slightly in sterling terms as sterling has come under pressure and
slipped against the dollar. The first level of resistance seems to be
at $946/oz and strong resistance at $960/oz thereafter. Support is at
$926/oz. Whatever the short term movements of gold are, the market has
a lot of very interested spectators waiting for the optimum point to
enter as it is widely expected that gold is on the verge of a very
strong and sustainable move upwards. Especially as investment demand
remains robust as reported by the World Gold Council today. They found
that while investment demand in Q2 2009 was below the exceptional
levels seen in Q1 (when economic and financial sector uncertainty was
at extreme levels), identifiable investment demand still surged 46% in
Q2 2009. Net retail investment in Q2 2009 was up 12% on the levels of a
year earlier. Investor inflows in western markets remained very strong.
The more traditional non-western markets, with the exception of Turkey
and notably China, generally experienced weaker investment demand. Gold
is currently trading at $932/oz.
Silver
Silver is also slipping back and has already fallen through 2 levels of
support. The next level of support is $13.36/oz with resistance now
being the previous support of $13.80/oz. Silver is currently trading at
$13.63/oz.
Platinum Group Metals
Platinum is currently trading at $1,219/oz down $8.00/oz. Palladium is $270/oz and rhodium $1,600/$1,700/oz.
Published on Wed, Aug 19 2009, 10:41 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
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