July 2010

New York gold inched higher Wednesday, rising toward $1200 an ounce and above the six-week low reached during the prior session. "Comex gold futures prices closed higher and near the session high Wednesday as bargain-hunting buying surfaced after prices notched another fresh six-week low early on," noted Jim Wyckoff of Kitco News. "Higher crude oil […]

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New York gold futures on Tuesday settled to their lowest price since May 24. The metal also fell below $1,200 an ounce for the first since May 25. "Rallying U.S. and European stock markets and a stronger Euro currency helped to pressure the precious yellow metal. Technically related selling was also seen Tuesday," noted Jim […]

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Gold Prices Drop for Second Straight Week, Metals Plunge

by Bullion Prices Staff on July 3, 2010

Gold edged higher on Friday but ended its worst week in six as steep declines across all metals prices were attributed to concerns over the pace of the global recovery and jitters of a double-dip recession in the U.S. New York gold for August delivery rose $1, or 0.4%, to end at $1,207.70 an ounce, […]

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New York gold prices plummeted on Thursday after closing out a second quarter in which prices soared 12%. Gold dropped $39.20 on the day, brought down by less than favorable economic reports which pulled money away from commodities and into U.S. Treasuries. "Near-term technical damage was inflicted and safe-haven buying interest disappeared," wrote Jim Wyckoff […]

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