Gold declines on the Last day but posts Gains for the Week - August 12, 2011 23:59

Gold futures ended lower on Friday as investors went for profit taking. Gold futures contract for December delivery declined 0.5 percent or $8.90 to $1,742.60 per ounce on Comex trading session of the New York Mercantile Exchange. Though the respective contract declined on the last day of the week but was up by 5.5 percent […]

Gold Rally Reaches its Record - August 11, 2011 23:40

Gold futures contract reached their record again on Wednesday as investors turned their focus toward safe haven status of gold in reaction to sluggish global economy.  Moreover, the decision of US Federal Reserve to keep interest rate at its lowest also boosted gold prices. Precious metals analysts, Jim Steel from HSBC in New York commented, […]

Gold Futures Reach Record Levels on US Monetary Policy - August 10, 2011 23:53

Gold futures reached their record levels on Tuesday as US dollar weakened in reaction to latest Federal Reserve’s meeting. The US Federal Reserve’s Open Market Committee decided not to change the interest rates due to sluggish economic growth. This resulted in shift of focus to safe haven investments such as gold. Gold futures contract for […]

Gold remains Bullish and reaches its New Record - August 3, 2011 23:59

Gold futures reached their record level on Tuesday as investors are shifting to safe haven status of the precious metal due to uncertainty over US economy. Gold futures contract for December delivery gained 1.4 percent or $22.80 on Tuesday to settle at $1,644.50 per ounce on Comex trading or New York Mercantile Exchange. The respective […]

Gold Futures Decline on Thursday as US dollar Strengthens - July 29, 2011 23:52

Gold futures declined on Thursday after reaching record levels in earlier sessions. The appreciation o fUS dollar was the main reason behind the bullish sentiments for gold. The dollar index DXY which measures the US dollar movement against its major six rival currencies gained to 74.209 on Thursday as compared to 74.088 on Wednesday’s late […]

Gold finally faces Correction on Wednesday - July 28, 2011 19:19

Gold futures settled lower on Wednesday as the investors opted for profit taking after series of bullish gold sessions. Gold futures contract for August delivery declined 0.1 percent or $1.70 to $1,615.10 per ounce at Comex trading of New York Mercantile Exchange.  The respective contract touched the day’s high of $1,628 but later fell to […]

Gold Futures reach their Record High - July 22, 2011 23:41

Gold futures reached their record high on Friday despite stronger US dollar and developments on euro zone’s sovereign debt crisis. Gold price contract for August delivery advanced 0.9 percent or $14.20 to $1,601.10 per ounce on Comex trading of New York Mercantile Exchange. On Monday the respective contract reached the day’s high of $1,605.50 which […]

Gold Futures find Resistance at $1,600 per Ounce - July 21, 2011 22:06

Gold futures saw resistance at $1,600 per ounce on Wednesday after the positive development on US and euro zone’s debt situation. Senior market strategist, Adam Klopfenstein from Lind-Waldock in Chicago commented, “Optimism towards the budget and the debt-ceiling pulled gold lower,” he further added, “There’s still a lot of risk factors in the global economy.” […]

Gold Futures Move Up Despite Disappointing Economic Situation - July 15, 2011 23:08

Gold futures slightly gained on Thursday as investors were uncertain over the implementation of QE3 in United States. Moreover stronger US dollar also kept pressure on base metals. Gold futures price for August delivery gained 0.2 percent or $3.80 to $1,589.30 per ounce on Comex trading session of New York Mercantile Exchange. The respective contract […]