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GoldCore are respected international bullion dealers who are experts in the execution and logistics of the highly specialised precious metals market. GoldCore have been providing precious metal investment solutions for an International client base since 2003.
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  • GoldCore Update: Gold Prices Move Higher in a World of Paper Currencies and Paper Promises 0 comments
    Nov 24, 2009 07:16 AM | about stocks: GLD, SLV

    Gold
    gold barsGold has maintained last week’s and yesterday’s gain and is currently trading near record nominal highs at $1,166/oz, £705/oz and €781/oz. New levels of resistance and support are $1,175/oz and $1,152/oz.

    While gold is overbought in the short term it is behaving like a stubborn mule that refuses to go down. A variety of concerns continue to support gold and these include worries regarding the sustainability of the economic recovery (both in China, the US and in other leading industrial nations), the weakening dollar and the long term devaluation of currencies and medium and long term risk of inflation. Oil prices near $80 a barrel and Middle East geopolitical concerns are also supportive. Another factor that has not received much attention but that may have added to the impetus of gold’s rise in recent days are fears that the Federal Reserve may lose its independence due to the US House of Representatives’  amendment to audit the Federal Reserve.

    markets snapshot 24 November 2009

    Silver
    Silver remains robust and is currently trading at $18.60/oz, £11.21/oz and €12.41/oz.

    Platinum Group Metals
    Platinum is $1,451/oz, palladium is $371/oz and rhodium is $2,600/$2,700/oz.

    Disclosure: no positions

    Themes: gold, silver, platinum, palladium, rhodium, precious metals Stocks: GLD, SLV
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