Gold hit a two-month high above $1,262 an ounce this week on renewed global economic concerns before losing some gains to profit-taking and better-than-expected U.S. data on jobless benefits. Silver was also off its highest since early 2008.
Spot gold fell $1.27 an ounce to $1,247.00 an ounce by 0559 GMT, after falling as low as $1,242.20 on Thursday, partly driven by technical selling from recent highs. Bullion, which struck record around $1,264 in June, is headed for a weekly drop of 0.2 percent, its first in six weeks.
Click here for more…Gold traded near a record in New York as investors sought an alternative to equities and a protection of wealth on concern the economic recovery is stalling. Silver gained to the highest level since March 2008.
Click here for more…Gold prices are back on the rise, and gold stocks, ETFs funds and other investments are again making headlines. And with good reason – the bottom line is that we are in for some rampant inflation in the years ahead. Gold is one of the very few ways to ensure your nest egg won’t erode away.
Click here for more…Questions about the health of Europe's banks helped send the price of gold near record levels Tuesday.
Gold rose $7 an ounce to $1,258, after a series of reports raised questions about banks' capital levels and their exposure to bonds issued by stressed nations such as Greece, Portugal, Ireland, Italy and Spain.
Click here for more…There are several factors when put together signal that the physical silver market could be on the brink of a panicked buying frenzy.
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