The price of gold remains flat below $1,200 and not much above its 60-day low of $1,180 in mid-morning New York trade. The current gold price spot rate in New York is $1,190.70 per ounce after a closing price of $1,194.50 on July 22nd.
Though not far removed from its mid-June all time high price of $1,261, gold prices have been in a consistent downward corrective mode in the last month.
Generally perceived as one of the safest investments during economic uncertainty, gold has apparently reached a point in the short-term …Forex Rate – Forex and Exchange rates

It is a bit unusual, but gold prices are currently falling in line with US economic concerns, equity index drops, and dollar losses. Typically, gold is known as the ‘

FXstreet.com (Barcelona) – Gold failed to maintain its dominant upside rally and gave up $1,200.00 mark on Wednesday, moving further down capped by $1,186.00. While the price picked up softly to the upside to end at $1,193.00, a minor downmove took the precious metal to currently stay at $1,191.00.

Behind the bearish spike which erased nearly $35 off gold’s value, is a jittery market with high volatility and a rare strength in the single currency, trimming yesterday’s losses against the Dollar to end above 1.2400 band. Mounting pressure on a corrective run finally weighed down on gold, as investors largely agreed to take profits.
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Growing concerns about the value of more risky investments in light of the economic crisis in much of Europe and continue issues in the US and other parts of the world have prompted another run up in gold prices.
The early 2010 pullback in gold did not last long as gold pushed to a new high this week and currently sits at $1,243.90 in New York trade.
The latest upward move in gold has of course prompted much speculation as to just how high the rate of gold can go. At …Forex Rate – Forex and Exchange rates

Gold prices have bandied about quite a bit in the last two months while maintaining a relatively modest range of less than $90. The high point for gold in the last 60 days was $1,139.60 per ounce at the start of March and the low point was $1,052.25 in early February.
The current gold spot rate is virtually in the middle of this two month range at $1,109.60 per ounce. The lack of firm direction in gold is symbolic of a speculative environment in which investors are trying to …Forex Rate – Forex and Exchange rates

Aussie in currency trading on the FX market

The Australian dollar is moving higher in forex trading today as gold prices gain. Gold prices are moving higher as the Fed expresses its belief that the labor market is stabilizing. The Aussie is following suit in currency trading on the FX market.

The Australian dollar is commodity currency, which means it often moves in tandem with commodity prices. Aussie is sensitive to gold because Australia relies on gold for a sizable chunk of its economy. As gold prices rise, they help support Australian economic growth, and help support the Aussie in currency trading.

With gold heading higher, and with U.S. stock futures pointing to a higher open, it is little surprise that investors are looking for something a bit riskier as well. Therefore, turning to the Aussie, with its higher returns, makes sense in forex trading. At least for now.

See AlsoAussie in Currency TradingForex trading on the currency market

FXstreet.com (Sydney) ‘

Gold prices have been on the rebound in the last two weeks after touching a near-term low at price on February 5th of $1,052.25. With a current (February 17) gold spot rate of $1,114.70 per ounce, the commodity has increased in worth by over $60 in 12 days.
Though down slightly from yesterday’

What will happen to the future of gold and oil?

Let me preface this post, by noting that I try to avoid writing about gold, since there are some many other excellent analysts out there writing about the subject. But when there is a such a strong overlap between gold and forex markets, well, I just can’t resist!
Recently, gold prices have collapsed at virtually the [...]