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Gold moving toward $1,200
August 6, 2010The price of gold is currently (August 5) just below $1,195 after it briefly touched $1,200 on August 4th. Gold prices have been on a rebound after more than a $100 downward correction from the all-time high in late June of $1,261. The gold spot rate hit $1,157 just over a week ago on July [...]
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Forex: GBP/AUD retreats from 8-day high
July 29, 2010FXstreet.com (Córdoba) – The Pound printed important gains against the Aussie on Wednesday. GBP/AUD rallied over 250 pips to post a fresh 8-day high at 1.7523 before retreating slightly to close the day at 1.7460, 1.08% above its opening price. The pair entered into a consolidation phase at mid-American afternoon, but the Aussie has strengthened [...]
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Forex: AUD/JPY heads lower along with Nikkei
July 29, 2010FXstreet.com (Córdoba) – Risk aversion environment has translated into a weaker Aussie and a stronger Yen. AUD/JPY slumped from 79.30 to 78.10 on Wednesday, closing the day 1.51% below its opening price and erasing almost completely its previous weekly gains. At late NY trade, the pair reached the lowest price this week at 77.76 but [...]
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Gold prices remain below $1,200
July 24, 2010The 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 [...]
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Gold below $1,200 despite US, dollar concerns
July 8, 2010It 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 ‘
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What Makes Prices Move?
March 10, 2010Today I will go over what I think drives price movement in the markets, why I hold these beliefs, and why I think it is important to understand the forces in price movement. Keep in mind the following theories are my opinions, not absolute fact. I believeWhat Makes Prices Move? People often ask “did fundamentals [...]
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Gold prices soar past $1,100
February 18, 2010Gold 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’
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Dollar gains against major currencies, commodities
January 27, 2010The dollar has grown stronger to start this week, gaining ground against most major currencies and commodities, the Japanese yen, being the prominent exception. The gold price spot rate is at $1,091, after a Tuesday New York Mercantile Exchange close just below $1,100. The gold rate is well below its all time high of $1,218.25 [...]
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Gold price spikes as jobs disappoint
January 8, 2010Just when it appeared that the gold price was ready to reverse its long-running and fast-paced upward trend, speculators have begun to jump back in. After falling to a 60-day low of $1,080.50, the price of gold reached its highest point in just over a month at the close of New York trade on January [...]