Ironwood Gold Corp. - Today's Gold Commentary

Gold crosses record $1920 as debt concern boosts demand

Tue, 6 Sep 2011 00:00:00

Gold today surged to a record above USD 1,920 dollar an ounce on speculation that Europe's debt crisis will worsen, damping economic growth and driving investors to protect their wealth.

The metal in futures as well as in bullion markets in India and China, the world's two largest consumers, touched all-time highs. Gold in India climbed to all-time high of Rs 28,750 per 10 grams.

Gold in London gained 1.1% to USD 1,921.15 an ounce, surpassing the last peak of USD 1,913. [more]

Gold �Not in a Bubble� as Central Banks Keep Printing Money, Faber Says

Tue, 6 Sep 2011 00:00:00

Gold�s rally above $1,900 an ounce shows no signs of a �bubble� as central banks continue to boost money supply that has helped spur bullion to a record, according to investor Marc Faber.

�I don�t think that gold is in a bubble,� Faber, publisher of the Gloom, Boom and Doom report, said in a phone interview yesterday from Chiang Mai, Thailand. �When you buy gold, it�s an insurance against systematic failure and problems in the financial markets.�

Gold climbed to a record $1,921.15 an ounce today, underscoring Faber�s contention that declining equities and weakening currencies will support demand. Speculative buying had pushed the gold market into a �bubble that is poised to burst,� Wells Fargo & Co. [more]

Gold Climbs to Record as Debt Concern, Inflation Boost Investment Demand

Thu, 21 Apr 2011 00:00:00

Gold rose to a record for the fifth straight session, settling above $1,500 an ounce for the first time, as a weaker dollar and debt concerns boosted demand for an alternative investment. Silver rose above $46 an ounce.

Gold reached an all-time high $1,509.60 in New York as the dollar slid to the lowest since August 2008 against a basket of six major currencies. Greek two- and 10-year government-bond yields reached euro-era records amid speculation the nation won�t be able to avoid restructuring its debts.

�The key element determining gold�s near-term direction right now is the U. [more]

Gold Gains as Inflation Concern, Egyptian Protests Boost Demand

Tue, 1 Feb 2011 00:00:00

Spot gold climbed, rebounding from the biggest monthly drop since 2009, on speculation that rising food and oil prices will increase the metal�s appeal as a hedge against inflation. Protests in Egypt also boosted haven demand.

Bullion for immediate delivery advanced as much as 0.6 percent to $1,340.63 an ounce before trading at $1,338.65 at 3:45 p. [more]

Gold rallies to record, a whisper from $1,400

Fri, 5 Nov 2010 00:00:00

SAN FRANCISCO (MarketWatch) � Gold futures rallied to a fresh record high Friday, settling less than $3 away from $1,400 an ounce a day after their biggest one-day gain in nearly 20 months.

Gold for December delivery added $14.60, or 1.1%, to $1,397.70 an ounce on the Comex division of New York Mercantile Exchange. Silver and copper also hit historic high marks. [more]

Gold May Climb to Record $1,650 an Ounce on Fed Easing, Goldman Forecasts

Mon, 11 Oct 2010 00:00:00

Gold may rally more than 20 percent from this month�s record to a high of $1,650 an ounce in 12 months as the Federal Reserve takes action to stimulate the U.S. economy, according to Goldman Sachs Group Inc.

Bullion may gain to $1,400 an ounce in three months and $1,525 an ounce in six months, analysts David Greely and Damien Courvalin wrote in a note dated yesterday. Gold for immediate delivery reached an all-time high of $1,364.77 on Oct. [more]

Gold Rises on Dollar's Drop as U.S. Jobs Data Signal Fed to Boost Stimulus

Fri, 8 Oct 2010 00:00:00

Gold futures rose, rebounding from the biggest drop since July, as the dollar�s slump boosted the appeal of the precious metal as an alternative asset.

The greenback fell to the lowest level against the yen since 1995 after a report showed the U.S. lost more jobs in September than economists estimated. Gold has climbed 23 percent this year, reaching a record $1,366 an ounce yesterday.

�The uptrend in gold continues because the dollar just continues to lose ground,� said Matthew Zeman, a metal trader at LaSalle Futures Group in Chicago. [more]

Gold Gains After Biggest Drop in Three Months on Europe Woes

Thu, 20 May 2010 00:00:00

May 20 (Bloomberg) -- Gold gained, rebounding from the steepest loss in more than three months, on speculation that Europe�s fiscal turbulence will continue to fan investor demand for safer assets.

Gold for immediate delivery strengthened as much as 0.4 percent $1,198.15 an ounce and traded at $1,196.25 at 8:57 a.m. [more]

Gold Rises on Dollar, Heading for Ninth Annual Gain

Wed, 30 Dec 2009 00:00:00

Gold gained, heading for its ninth straight annual advance, as speculation that the dollar will weaken next year attracted investors.

�The overall trend of dollar weakness should continue into next year, providing incentives to gold investors,� Chris Yoo, head of global derivatives with Samsung Futures Co., said in Seoul. �Gold remains in investors� favor until the U.S. raises interest rates after signs of global recovery become more pronounced. [more]

Gold Gains as Three-Day Decline Lures Investors, Dollar Slips

Tue, 8 Dec 2009 00:00:00

Gold rose for the first time in four days as a 5.6 percent slump from last week�s record renewed buying interest in the metal.

Bullion, which touched a record $1,226.56 an ounce on Dec. 3, plunged the past three sessions as the dollar regained strength. The U. [more]