Ironwood Gold Corp. - Today's Gold Commentary

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]

Bullion Climbs to New Heights

Wed, 2 Dec 2009 00:00:00

Gold (GC-FT1,216.9016.701.39%) hit a record high above $1,210 (U.S.) an ounce Wednesday, defying a stronger U. [more]

Gold Climbs to Third Record This Week on Dollar, Central Banks

Wed, 25 Nov 2009 00:00:00

Gold climbed to a record for the third time this week as investors and central banks bought the metal to protect their wealth from the declining dollar.

Bullion for immediate delivery, which typically moves inversely to the dollar, reached a record $1,192.97 an ounce after the U.S. currency fell to a 15-month low yesterday against six major counterparts. Sri Lanka�s central bank paid about $375 million for 10 metric tons of gold it bought from the International Monetary Fund, the fund said yesterday. [more]

Gold Gains as $US Drop Spurs Demand for Hard Assets

Tue, 24 Nov 2009 00:00:00

Gold rose for an eighth consecutive session in New York on speculation that the dollar may fall further and central banks and investors will buy more bullion as an alternative investment.

Futures reached a record $US1174 an ounce yesterday as the US Dollar Index fell the most in two weeks and Russia's Bank Rossii said it bought more gold in October. The index is down 7.7 per cent this year after the Federal Reserve cut its key lending rate to a record low in December and kept it there. Holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, rose to the highest level since June yesterday.

"When the Fed repeatedly says that the rates will remain low, that means the dollar will weaken and gold will rise," said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois, and a gold trader for more than three decades. [more]

Dollar Falls, Sending Gold to Record High

Mon, 16 Nov 2009 00:00:00

The dollar fell on Monday as China accused the United States of increasing protectionism and following unexpectedly strong Japanese economic growth figures, pushing gold prices to a record high point.

US President Barack Obama is in China for a three-day mission aimed at convincing Beijing that Washington is its partner, not its rival.

As the dollar dropped against the euro and yen, gold struck an all-time peak of 1,133.20 dollars an ounce.

In late morning trading here, the euro climbed to 1.4969 dollars from 1. [more]

Gold Advances to a Record as Dollar Weakens for a Third Day

Wed, 11 Nov 2009 00:00:00

Gold rose to a record in New York and London as the dollar fell for a third day, spurring demand for the metal as a hedge against further weakness.

The Dollar Index , a six-currency gauge of the greenback�s performance, slipped as much as 0.3 percent to a 15-month low. Gold futures jumped 5. [more]

Gold Price Smashes Through $1,100 Barrier

Mon, 9 Nov 2009 00:00:00

Gold prices hit yet another new high on the back of a floundering greenback and rising concerns over major central bank policies.

Soaring: The gold price has broken through the $1,100 mark
Following the weekend's G20 meeting to discuss economic stimulus measures, the spot gold price sharply broke through the psychologically important $1,100 per ounce level to hit a high of $1,111 per ounce by 1pm on Monday.

The G20 meeting at the weekend reinforced views that US interest rates are unlikely to rise any time soon.

The US dollar, which gold is a primary hedge against, hit the skids after figures were published on Friday showing that the US is enduring the highest unemployment numbers since 1983.

The dollar index, which tracks the currency's worth against other currencies, slipped 0.9% to a two-week low of 75 today. [more]

Gold Futures Surge to a Record $1,094.60 per ounce

Thu, 5 Nov 2009 00:00:00

Gold futures surged to a record on Wednesday, as a weak dollar and India's recent purchase of bullion continued to whet investors' appetite for the precious metal.

Gold for December delivery, the most actively traded contract, hit an intraday high of $1,094.60 an ounce in electronic trading on Globex, a record for the contract. It surpassed Tuesday's peak of $1,088.50 an ounce.

December gold futures were last up $8 to $1,092. [more]