The trends that drove gold prices higher in 2010 are still in place. In the U.S., the Federal Reserve is buying $600 billion in treasuries in an attempt to keep interest rates low. Low interest rates encourage higher gold prices.

In Europe, the situation is still unstable. The European Central Bank (ECB) has stepped up its purchases of member nations’ bonds. Spain is still on the table as a country teetering on verge of a bailout. Until the European mess is settled, gold remains a surrogate currency.

Continue reading Analysts Forecast Higher Gold Prices in 2011

Analysts Forecast Higher Gold Prices in 2011 originally appeared on BloggingStocks on Sun, 02 Jan 2011 14:15:00 EST. Please see our terms for use of feeds.

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Gold prices have marched to a new high of $1,422.45 per troy ounce in London. This marks the fourth day of the gold rally.

The Wall Street Journal (subscription required) cited that the prime mover was continued worry over European sovereign debt defaults.Traders and investors are riding the bull higher and higher. To help the gold along, the U.S. dollar is weaker, sparking a rally in key commodities like oil and grains. Cotton is also up again.

Continue reading Gold Climbs to Yet Another Record High

Gold Climbs to Yet Another Record High originally appeared on BloggingStocks on Tue, 09 Nov 2010 11:00:00 EST. Please see our terms for use of feeds.

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Precious metals moved higher today, led by gold, which set another record high. Here are the numbers:

• December gold futures are trading at $1,328.20, per ounce, up $11.40 (as of 8:00 am EDT)
• December silver is up 23 cents to $22.27 per ounce.
• October platinum is trading at $1,681.7 per ounce, up $14.
• December Palladium is up $7.20 to $568.50 per ounce.

Continue reading Gold and Silver March to New Highs

Gold and Silver March to New Highs originally appeared on BloggingStocks on Tue, 05 Oct 2010 10:30:00 EST. Please see our terms for use of feeds.

Starting next month you will be able to buy gold at an ATM machine. Can that be true? Yes, CNNMoney's story on Gold to go's owner Thomas Geissler says he plans to launch two such ATMs in Las Vegas and Florida. Plans are to expand the Gold to go ATMs in New York, Dallas, Los Angeles and Minnesota.

The machines will offer gold coins and bars weighing up to 8 ounces. Prices are updated every ten minutes based on spot gold prices.

Continue reading Next Month You Can Buy Gold at an ATM

Next Month You Can Buy Gold at an ATM originally appeared on BloggingStocks on Sat, 02 Oct 2010 11:40:00 EST. Please see our terms for use of feeds.

Gold set a new record high in London, trading at $1,277.07 per ounce, Bloomberg News reported.

The reasons for gold’s surge are both technical and fundamental. On the technical side, when gold broke through the old high at $1,265 per ounce, it was a signal to traders to buy. Usually when a new nigh is made, the bulls take charge of the market.

Continue reading Gold Powers to a New Record High

Gold Powers to a New Record High originally appeared on BloggingStocks on Thu, 16 Sep 2010 12:00:00 EST. Please see our terms for use of feeds.

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Gold – London – BloggingStocks – Trade – Bloomberg L.P.