GOLD IN THE NEWS
CENTRAL BANK GOLD BUYING SURGED IN 2011
Feb. 17 - Gold fell slightly on Friday on profit taking following an initial rally driven by growing confidence that Greece would receive its needed bailout. Greece is seeking more aid on top of the $145 billion awarded in 2010. As of 10:32 AM Pacific Time, gold was trading at $1,724.70 per ounce on the New York Spot Market, while silver traded at $33.33 per ounce. » Read the rest.WEAKER DOLLAR, CHINA ADD SUPPORT FOR GOLD
Feb. 15 - Gold and silver prices were little changed on Wednesday, as the markets digested news of a softer dollar and investor uncertainty about the prospects for a second Greek debt bailout and future growth in the euro zone. As of 9:33 AM Pacific Time, gold was trading at $1,732.20 per ounce on the New York Spot Market, and silver was trading at $33.69. » Read the rest.GOLD MOVING HIGHER ON GREECE AUSTERITY AGREEMENT
Feb. 13 - Gold traded slightly higher on Monday as a weaker dollar bolstered demand for the precious metal. As of 11:20 AM Pacific Time, gold was trading at $1,725.50 per ounce on the New York Spot Market, up $2.40 per ounce, while silver was trading at $33.87 per ounce, up $0.18 per ounce. » Read the rest.GOLD MOVES LOWER ON GREECE CONCERNS
Feb. 10 - Gold moved lower on Friday, led by a slide in the euro after a Greek party leader said he would not support the 130-billion euro bailout needed to avoid default. As of 8:40 Pacific Time, gold was trading at $1720.80 per ounce on the New York Spot Market, and silver was trading at $33.80 per ounce. » Read the rest.GREEK HOPES BOOST GOLD AS DATA DISAPPOINTS
Feb. 8 - The price of gold was slightly higher on Wednesday and neared 11-week highs from optimism that Greece would reach agreement to avoid default. The news bolstered the euro which hit 8-week highs and provided support for gold. The metal traded near the $1750 mark, reaching $1749.40 per ounce at 7:05 a.m. Pacific Time on the New York Spot Market with silver at $34.48 per ounce. » Read the rest.GOLD AND SILVER RISE ON STRONGER EURO
Feb. 7 - Gold and silver rose on Monday, driven by weakness in the dollar and increased optimism about Greece's prospects of avoiding a default. Gold closed at $1745.90 per ounce on the New York Spot Market, up $25 per ounce, and silver closed at $34.25 per ounce, up $0.47. » Read the rest.INVESTORS, CENTRAL BANKS CHOOSE GOLD AS SAFE HAVEN ASSET
Feb. 6 - Gold moved lower on increased debt concerns in Greece and a weaker euro. Gold was trading at $1719.10 per ounce at 6:14 a.m. Pacific Time on the New York Spot Market with silver at $33.41 per ounce. » Read the rest.U.S. JOBS DATA BEATS EXPECTATIONS
Feb. 3 - The price of gold fell on Friday after the release of U.S. jobs data for January, trading at $1745.90 per ounce at 650 a.m. Pacific Time on the New York Spot Market with silver at $34.02 per ounce. » Read the rest.ANALYSTS SEE GOLD HIGHER ON INCREASED DEMAND
Feb. 2 - The price of gold moved higher on the New York Spot Market on continued investor demand with the precious metal trading near the $1750 mark at 5:35 a.m. Pacific Time with silver at $33.85 per ounce. Gold has been maintaining its gains from January and is up almost 12% on the year. » Read the rest.ANALYSTS DISCUSS POSITIVE TRENDS FOR GOLD
Feb. 1 - The price of gold moved higher as the euro continued to gain against the dollar, with the metal trading at $1748.10 per ounce at 6:06 a.m. Pacific Time on the New York Spot Market and silver at $34.03 per ounce. » Read the rest.JANUARY ENDS WITH GOLD UP OVER 11%
Jan. 31 - The price of gold moved higher on the last trading day of the month as the euro gained on the dollar. Gold traded at $1745.20 per ounce at 6:54 a.m. Pacific Time on the New York Spot Market with silver at $34.01 per ounce. » Read the rest.INCREASED COIN SALES COULD SUPPORT GOLD
Jan. 30 - The price of gold was essentially flat trading at $1729.00 per ounce at 7:20 a.m. Pacific Time on the New York Spot Market with silver lower at $33.50 per ounce. » Read the rest.GDP DATA AND EXTENDED LOW INTEREST RATES SUPPORT GOLD
Jan. 27 - Gold moved higher on Friday following the release of U.S. GDP data showing the economy grew at a slower rate than expected in the last quarter of 2011 growth was slower than expected. Gold traded at $1729.90 per ounce at 7:56 a.m. Pacific Time on the New York Spot Market. Silver was also higher at $33.91 per ounce. » Read the rest.GOLD RISES AS FED PLEDGES RATE HOLD THROUGH 2014
Jan. 26 - The price of gold rose to a six-week high on Thursday after the Federal Reserve announced plans to hold interest rates at "exceptionally low" levels through the end of 2014. Gold traded at $1727.70 per ounce at 6:34 a.m. Pacific Time on the New York Spot Market with silver higher at $33.80 per ounce. Gold extended yesterday's gain which had its largest one-day rise in three mon » Read the rest.FED TO PROVIDE INTEREST RATE EXPECTATIONS
Jan. 25 - Gold eased as the euro fell ahead of a policy statement from the Fed, with the metal trading at $1654.10 per ounce at 6:42 a.m. Pacific Time on the New York Spot Market with silver at $31.79 per ounce. European finance ministers and Greece's private creditors have not yet agreed to debt restructuring terms, weighing on the region's common currency. » Read the rest.MONEY MANAGERS OPTIMISTIC ON METALS
Jan. 23 - Gold reached a six-week high as the euro gained and commodity prices rose, trading at $1673.80 per ounce at 6:47 a.m. Pacific Time on the New York Spot Market with silver at $32.40 per ounce. Gold has risen for three straight weeks and is up approximately seven percent for the year to date. » Read the rest.TWO MILLION CHINESE OPEN GOLD BANK ACCOUNTS
Jan. 20 - Gold and silver rose on Friday, with gold trading up $9.60 per ounce to $1,667.30 as of 2:00 PM Pacific Time on the New York Spot Market and silver trading up $1.54 per ounce to $32.28. Data released Thursday showed weekly U.S. jobless claims fell more than expected. Strong results from debt auctions in France and Spain boosted risk sentiment and a rise in equities. » Read the rest.ANALYSTS DISCUSS POSITIVE DRIVERS FOR GOLD
Jan. 19 - Gold traded near one-month highs after closing higher for three consecutive sessions, supported by expectations of funding from the International Monetary Fund (IMF) to help resolve Europe's debt problems. The price of gold was steady at $1659.10 per ounce at 7:20 a.m. Pacific Time on the New York Spot Market with silver at $30.67 per ounce. » Read the rest.IMF TO BOOST LENDING; LIQUIDITY MAY SUPPORT GOLD
Jan. 18 - The price of gold was steady today trading at $1653.50 per ounce at 8:02 a.m. Pacific Time on the New York Spot Market with silver at $30.52 per ounce. » Read the rest.GOLD AT FIVE-WEEK HIGH ON EUROPE, CHINA
Jan. 17 - The price of gold reached its highest level in five weeks, up $17.50 per ounce on the New York Spot Market today. The metal traded at $1661.30 per ounce at 6:35 a.m. Pacific Time with silver also up more than 1% at $30.40 per ounce. » Read the rest.
- S&P Capital IQ - Gold: $1,900 (in 2012) "Leo Larkin, metals and mining analyst at S&P Capital IQ, thinks that $1,900 gold might not be that much of a stretch [in 2012]. 'Gold has been ..."
- Citigroup - Gold: $2,300 - $2,400 (by end of 2012) "While we remain cautious on Gold in the near term...we continue to believe that the bull market remains intact...we believe that 2012 may be..."
- Leeb Capital Management - Gold: $2,500 - $3,000 (in 2012) "I'll give you my target for gold at the end of 2012, it's going to be trading somewhere between $2,500 and $3,000. This..."
- Global Hunter Securities - Gold: $1,800 (in 2012) "'What I am looking for is a gold price of $1,800 an ounce in 2012,' says Jeffrey Wright, senior research analyst at Global Hunter..."
- US Global Investors - Gold: $3,600 (by 2017) "'People get so caught up with the next three minutes for gold and they should really be focused on the next three years,' says Frank Holmes, ..."
- Goldman Sachs - Gold: over $1,900 (in 2012) "Wall Street investment bank Goldman Sachs predicts that gold's bull run will continue into 2012 with a low interest rate environment and..."
- CNBC - Gold: $2,400 (no period given) "Gold will top $2,400 an ounce. The long-term bull market in gold marches on. Gold won't make a straight shot to a new inflation-adjusted high. As long..."
- Nomura - Gold: $2,000 (by end of 2012) "Nomura has raised its forecast for gold prices to $2,000 an ounce by the end of 2012, from $1,800 earlier. The brokerage said the low-interest rate..."
- Morgan Stanley - Gold: $2,200 (in first half of 2012) "Gold will lead a rally in commodities in 2012 as Europe's sovereign-debt crisis continues to roil financial markets, spurring demand for ..."
- UBS - Gold: $2,050 average in 2012 "[Gold] remains one of the top commodity picks for 2012 as 'most of the factors that pushed gold higher in 2011 are not going away,' according to UBS..."
- Bank of America Merrill Lynch - Gold: $2,150 - $2,200 (average in 2012) "From a technical perspective we believe that the bull trend for gold remains intact… with gold having not yet met any of..."
- TheStreet.com - Gold: $2,500 (by May 2013) "I want to own gold here. I think gold is going to $2,500 eighteen months from now... Gold has been up for ten straight years and this going to be the..."
