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-- Posted Tuesday, 12 May 2009 | | Source: GoldSeek.com

Gold and silver took a breather from their gains of last week and consolidated yesterday with marginal losses for both metals. The dollar recovered somewhat from its sharp falls of last week as did long term US interest rates (10-Year: 3.180%  -0.113) but US stock markets came under pressure.

Gold threaded water in Asia but has risen sharply in early trading in Europe as the dollar has again come under pressure with the US Dollar Index falling to 82.40. The dollar looks set to fall again in the medium term due to the huge and unprecedented US budget deficits which are forecast to grow to $1.84 Trillion this year - a massive 12.9pc of gross domestic product.

Silver has again risen even more sharply (up 2.6%) and looks like it has the momentum to challenge resistance near $14.50/oz to $14.60/oz. While silver is only marginally below its February highs ($14.63), gold is still some 9% off the $997/oz reached then. Thus short term, you would expect gold to play a little catch up on this move.

12-May-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold $

 

     918.77

 

4.32%

4.38%

3.90%

142.93%

Silver

 

      14.22

 

15.19%

25.79%

-17.25%

154.75%

Oil

 

      59.07

 

13.07%

32.44%

-52.27%

44.88%

FTSE

 

      4,448

 

11.65%

0.30%

-28.31%

-0.15%

Nikkei

 

      9,299

 

3.73%

4.95%

-32.34%

-16.63%

S&P 500

 

         909

 

6.15%

0.66%

-35.22%

-17.13%

ISEQ

 

      2,632

 

10.93%

12.34%

-59.43%

-49.28%

EUR/USD

 

     1.3665

 

3.63%

-2.21%

-12.02%

14.69%

© 2009 Goldassets.co.uk

 

 

 

 



A Euro Perspective of the world markets

 

 

 

12-May-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold €

 

672.35

 

0.66%

6.74%

18.10%

111.81%

Silver €

 

      10.40

 

10.04%

28.63%

-5.94%

122.12%

Oil €

 

      43.23

 

8.35%

35.43%

-45.75%

26.32%

FTSE €

 

      3,980

 

10.97%

7.92%

-35.48%

-20.02%

Nikkei €

 

           70

 

2.64%

-0.19%

-18.23%

-16.05%

S&P 500 €

 

         665

 

2.37%

2.93%

-26.37%

-27.74%

ISEQ €

 

      2,632

 

10.93%

12.34%

-59.43%

-49.28%

EUR/USD

 

      1.367

 

3.63%

-2.21%

-12.02%

14.69%

EUR/JPY

 

      133.5

 

0.99%

5.15%

-17.26%

-0.69%

EUR/GBP

 

1.1174

 

-0.60%

-7.06%

11.12%

24.85%

© 2009 Goldassets.co.uk

 

 

 

 



A GBP Perspective of the world markets

 

 

 

12-May-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold £

 

601.73

 

0.24%

0.13%

32.89%

182.06%

Silver £

 

9.31

 

10.64%

20.64%

5.80%

195.69%

Oil £

 

38.69

 

8.66%

27.08%

-38.94%

68.25%

FTSE

 

4448

 

11.66%

0.31%

-28.30%

-0.14%

Nikkei £

 

62

 

10.06%

-10.79%

-7.97%

33.84%

S&P 500 £

 

596

 

-0.32%

0.70%

-17.13%

-3.18%

ISEQ £

 

2357

 

10.31%

4.97%

-54.34%

32.46%

GBP/USD

 

          1.527

 

4.06%

4.22%

-21.83%

-13.89%

GBP/EUR

 

          1.117

 

0.56%

7.02%

-11.15%

-24.88%

GBP/JPY

 

149.15

 

1.45%

12.44%

-26.48%

-25.39%

© 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 Tuesday, 12 May 2009 | Digg This Article | Source: GoldSeek.com




 



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