Gold prices climbed again today almost hitting a record intra-day high of $1,478 an ounce. As the precious metal inched closer to $1500 an ounce many people are concerned on the news from the US government that consumer prices increased last month due in large part to higher food and gasoline costs. This marks the…
Category Archives: Gold Price
Gold Prices Increase Today
Gold prices increased today, Thursday on news from the US government’s Labor Department report stating that there is a large increase in first-time applications of people applying for unemployment benefits. The US government also reported higher wholesale prices with a 5.7% rise in gas costs. Jobless claims last week rose to 412,000 up more than…
Gold Prices Up Today
Gold and silver prices recovered today and bounced back above $1460 an ounce. Investors took advantage of the recent sell off during the last two sessions which helped add to the momentum. Today gold climbed as high as $1,463.70. Earlier this week gold prices had fallen 1.3% due to a commodities sell off. Will Rhind…
Price of Gold Slid 1 Percent Today
The price of gold slid 1 percent today on news of oil declines of 3 percent. Oil prices have slumped for two days in a row. Goldman Sachs is advising its customers to sell investments in oil, platinum, copper, and cotton. Goldman argues that record levels of speculative trading of crude has push prices in…
Will Gold Hit $1500 an Ounce?
Gold speculators and traders have wondered for a while now whether gold will reach $1500 an ounce in the near future. The gold market like other investments doesn’t move in straight lines but rather in waves of up and down activity. This presents a unique opportunity for gold investors to profit on the short term…
Gold Prices Hit Record High
Gold prices hit a record high today ($60 an ounce increase) after Ben Bernake, chairman of the Federal Reserve chairman announced that they would plan to purchase an additional $600 billion in bonds to prevent deflation of the U.S dollar. This news was unexpected since many investors thought the FED would purchase only 300 billion…
Gold Declines 1 Percent On Fed Stimulus News
Gold prices declined 1 percent on news from the Federal Reserve that they would purchase less government debt than originally expected to stimulate growth. The price of gold has declined sharply in relation to a stronger dollar falling back from it’s high of $1380 an ounce earlier this month. The price of gold today hovered…
Gold Prices Fall On News From Treasury Secretary
Gold prices fell almost 3% on Tuesday as news from the Treasury Secretary. Timothy Geithner made a promise Monday night that the governement will not devalue its currency and will preserve confidence in the U.S currency. On this news gold futures for December plummeted 2.6% or approx $35 an ounce on the the New York…
Price of Gold Declines
The price of gold declined today on news that the precious metal has been over traded as an alternative to a weakened U.S dollar. Gold had reached a high of $1387 on Thursday during exciting morning trading. Investors are eagerly waiting for Ben Bernanke the Federal Reserve Chairman to deliver his address on future monetary…
Gold Price Record Set
A brand new Gold price record was set on Thursday morning with gold trading reaching $1,388 per ounce. This milestone coincides with the dollar hitting a 15 year low versus the Japanese yen. Currently gold prices are rising in relation to all currencies. In the last 60 days alone gold prices have seen a 12%…