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Archive for: January 12th, 2012

Gold, Silver Shares Rise, Precious Metals Steady

XAU Slides 1.7%

Gold and silver shares added to their weekly gains on Thursday, with the Philadelphia Gold & Silver Index (XAU) rising 0.5% to a one-month high of 194.04.  The modest strength in gold and silver stocks came as precious metals held onto fractional gains this afternoon. COMEX gold futures advanced $6.30, or 0.4%, to $1,645.90 per [...]

Jan 12 2012 | Read More »

QE3, $2,200 Gold Ahead This Year, Says Morgan Stanley

Precious metals outlook

The Federal Reserve will launch a third round of quantitative easing (QE3) and the price of gold will reach a new all-time record high above $2,200 per ounce later this year, according to analysts at Morgan Stanley. In a recent report to clients, the Wall Street investment bank named gold among its top picks for [...]

Jan 12 2012 | Read More »

Gold Price Firm, ECB Leaves Rates Unchanged

Precious Metals Firm

GOLD PRICE NEWS – The gold price climbed $13.87 to $1,656.19 per ounce Thursday morning after the European Central Bank and Bank of England each kept their benchmark interest rates at record lows.  The 0.8% gain in the spot price of gold was also fueled by weakness in the U.S. dollar, which fell 0.5% against [...]

Jan 12 2012 | Read More »
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