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New Zealand Dollar Rebounds Vs Greenback; Eyes On Bernanke

21/05/2013
Source: Wall Street Journal

WELLINGTON, New Zealand—The New Zealand dollar was slightly higher against the U.S. dollar late Monday, recovering from losses overnight Friday.

The Kiwi ground higher, gaining further late in the session, but "I would pitch it as nothing more than a corrective rebound," Westpac WBC.AU +1.40% Senior Strategist Imre Speizer said. It pushed below US$0.8100 overnight Friday for the first time this year as the U.S. dollar continued to strengthen after U.S. consumer sentiment improved.

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Bullion Price Movement

21/05/2013
Source: CMI

Tuesday, 21st May, 2013 At the close of trading in New York today, spot prices were as follows:

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Why Precious Metals Are Taking a Pasting

21/05/2013
Source: Wall Street Journal

Analysis & Opinion - Gold is two tales in one metal.

Most immediately, gold (like silver) is the story of renewed dollar strength as investors come to appreciate that the Federal Reserve’s lower-for-longer interest rate policy really does have a sell-by date.

But secondly, precious metals also represent the broader story of how just as market euphoria develops its own logic, separate from what’s happening in the real world, the downside can develop its own relentless momentum as well.

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Silver and gold lurch higher after an early dive

21/05/2013
Source: Reuters

Gold and silver prices gained about two percent on Monday after a roller-coaster session that opened with a gut-wrenching dive in silver prices to their lowest in 2-1/2 years before an abrupt midday turnaround.

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Gold, Silver Post Dramatic Late-Day Price Rebounds To End Higher

21/05/2013
Source: Kitco

Comex gold and silver futures prices suddenly surged higher near midday Monday, to reverse early, substantial losses and then ended the U.S. day session higher and near their daily highs. Heavy short covering and bargain hunting were featured during the precious metals’ turnarounds.

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