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Gold Investments Market Update


-- Posted Thursday, 30 April 2009 | | Source: GoldSeek.com

Gold and silver rose yesterday (the first day in three) after the worse than expected US GDP report saw the dollar fall in value. Gold fell after the Federal Reserve released its optimistic note but recovered almost immediately.

Gold subsequently traded sideways in Asia and early trading in Europe prior to another bout of furious selling just after 1000 GMT this morning which again saw gold fall a very sharp $10 in a matter of minutes despite the lack of any market or economic news of great significance. Despite these peculiar sell offs, gold remains well supported at $865/oz and the technicals and the fundamentals remain sound.

The WHO warning of an “imminent” worldwide swine flu pandemic is being greeted somewhat complacently by the markets and risk appetite remains strong. This could change very quickly as markets realize the likely dire economic implications of a swine flu pandemic on an already fragile global economy.

The yield on the benchmark 10-year Treasury bond has edged up above the 3% level despite the quantitative easing measures seen recently and policy makers may soon feel the wrath of the US’ creditors and the bond market vigilantes who have remained strangely quite despite massive monetization of debt and currency debasement. Long term borrowing costs may have to rise to incentivize holders of government debt and yet the US and other economies are not in a position to weather higher long term interest rates in these very difficult economic times.

30-Apr-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold $

 

     889.90

 

-3.10%

1.10%

1.75%

130.18%

Silver

 

      12.58

 

-3.64%

11.28%

-25.14%

107.85%

Oil

 

      51.60

 

6.08%

15.69%

-54.97%

38.04%

FTSE

 

      4,254

 

9.12%

-4.05%

-30.13%

-5.86%

Nikkei

 

      8,828

 

7.19%

-0.35%

-36.25%

-24.94%

S&P 500

 

         874

 

10.93%

-3.27%

-36.94%

-21.10%

ISEQ

 

      2,581

 

21.23%

10.16%

-59.27%

-52.35%

EUR/USD

 

     1.3305

 

0.88%

-4.78%

-14.84%

11.03%

© 2009 Goldassets.co.uk

 

 

 

 



A Euro Perspective of the world markets

 

 

 

30-Apr-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold €

 

668.85

 

-4.11%

6.18%

19.48%

107.31%

Silver €

 

        9.45

 

-4.69%

16.87%

-12.09%

87.20%

Oil €

 

      38.78

 

4.90%

21.50%

-47.12%

24.33%

FTSE €

 

      3,818

 

11.20%

2.92%

-37.81%

-24.62%

Nikkei €

 

           68

 

5.55%

-2.72%

-20.41%

-23.59%

S&P 500 €

 

         657

 

9.06%

1.59%

-25.95%

-28.94%

ISEQ €

 

      2,581

 

21.23%

10.16%

-59.27%

-52.35%

EUR/USD

 

      1.331

 

0.88%

-4.78%

-14.84%

11.03%

EUR/JPY

 

      130.0

 

1.24%

2.44%

-19.90%

-1.77%

EUR/GBP

 

1.1144

 

-3.10%

-6.77%

12.35%

24.88%

© 2009 Goldassets.co.uk

 

 

 

 

 

Mark O’Byrne, Executive Director

(Irish Office)
Gold and Silver Investments Limited
63 Fitzwilliam Square
Dublin 2, Ireland

T:+ 353 1 6325011
F:+ 353 1 6619664
Web: www.gold.ie

 

(UK Office)
Gold and Silver Investments Limited
No. 1 Cornhill
London, EC3V 3ND, UK

T:+ 44 (0) 207 060 4653
F:+ 44 (0) 207 8770708
Web: www.goldassets.co.uk


-- Posted Thursday, 30 April 2009 | Digg This Article | Source: GoldSeek.com




 



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