  Gold $1,613.00/oz Silver $28.60/oz Platinum: $1,548.20/oz
 | | | Gold and Silver Get Sold Heavily, Markets Erratic and Seeking Consensus - Washington is Quiet Gold is trading at USD 1,613.00, EUR 1,198.37, GBP 1,040.91, JPY 123,180, AUD 1,654.44 and CHF 1,465.41 per ounce. Gold's London AM fix this morning was USD 1,615.00, EUR 1,198.96,and GBP 1,041.87 per ounce. Yesterday's AM fix was USD 1,730.00, EUR 1,279.68, and GBP 1,119.81 per ounce.
Gold and silver were caught in the headlights of the "Risk Off" juggernaut last week, the carnage was not helped by a poorly timed margin increase out of the Comex and Shanghai Gold Exchange. Asian markets maintained the bearish slant overnight with the NIKKEI selling of 2%; gold was at one point off by more than $100/oz, trading at $1,550/oz, but has since staged a modest recovery and is trading now at $1,613/oz.
Markets Move to Cash
Why Did Gold Sell Off So Aggressively?
Large liquid asset prices tend to approach efficiency, over time. When new information is ingested by the market the price of securities is adjusted up, down or not at all. Currently markets in general are nervous as they were caught off guard by the Fed statement last week, which outlined a weaker U.S. economic growth forecast. Moreover, the negative sentiment is being compounded by commentary from a host of world leaders and institutions, urging action on Europe and debt problems in general. At times like this leveraged market participants (hedge funds and proprietary trading desks) must assign a fair value for the holdings that they own. Trading desks must adjust books for a slower economic growth forecast, which creates lower corporate earnings and translates into lower stock prices. The Fed comments sparked the sell off.
SILVER
Silver is trading at $28.60/oz, €21.15/oz and £18.42/oz
PLATINUM GROUP METALS
Platinum is trading at $1,548.20/oz, palladium at $626/oz and rhodium at $1,625/oz. | | |  Please click here to read the rest of GoldCore's Market Update.
|
 | | | GOLDCORE'S GOLDSAVER ACCOUNT The GoldSaver Account allows anyone to buy and save gold online from just $150, £150 or €150 per month.
GoldSaver gold holdings are purchased from the Perth Mint of Western Australia. It is stored in their secure vaults, insured and government guaranteed by the AAA rated Western Australian government. Deposits and gold holdings are also independently verified by our auditor on a monthly basis. Find out more about GoldSaver or sign up here. | |  | | | | 
We provide comprehensive pricing for South African Krugerrands, American Eagles, Canadian Maple Leafs, British Sovereigns, Silver Eagles, 1 Kilo Gold bars and many more. We also provide live Perth Mint Certificate Programme prices on gold, silver and platinum. | | 
The GoldSaver Account is a unique service that allows clients to purchase small amounts of gold on a monthly basis in a secure and cost effective manner. The GoldSaver Account is suitable for investors of any size looking to diversify their savings. | | |  | |  | | | | 
The Perth Mint Certificate Programme allows investors, savers, pension holders and companies to own investment grade bullion which is stored in vaults in the Perth Mint of Western Australia (est. 1899; AAA rating). The programme is insured by Lloyds of London and is fully guaranteed by the government of Western Australia. | | 
GoldCore Secure Storage allows clients to store their gold bullion in ultra secure vaults in Zurich, Hong Kong, Singapore, London and internationally in a cost effective manner. Bullion is held in custody and under a bailment arrangement meaning that the client has a direct claim upon the bullion held in their name. | | | 
| | 
| | | | GoldCore Limited is regulated by the Irish Financial Regulator. Precious Metal services are an unregulated activity.
GoldCore Limited is registered in the Companies Registration Office under Company number 377252.
Registered for VAT under number 6397252A.
© 2010 All Rights Reserved
Customer Service Irl +353 1 6325010 UK +44 203 0869200 USA +1 302 635 1160
Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore. The provision of precious metal product or service does not require licensing, authorisation, or registration with the Irish Central Bank and, as a result, it is not covered by the Central Bank's requirements designed to protect consumers or by a statutory compensation scheme.
GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 14 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'. | | | |
0 comments:
Post a Comment