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-- Posted Thursday, 14 May 2009 | | Source: GoldSeek.com

Gold and silver were essentially flat yesterday and consolidated on recent gains despite a slight dollar recovery and marked weakness in equity markets.

Gold has fallen somewhat in Asian and early European trading but still looks good from a technical perspective. A close above $932/oz should see us quickly target the $960/oz to $965/oz level which when breached should see us retesting the intra-day high of $1,006.30 reached on February 20th. 

A weekly close above $1,006/oz, would likely see a very large infusion of cash into the gold market as there are many participants on the sidelines waiting for this bullish technical development.

With the credit ratings of the US and UK under threat and the cost of insuring UK government debt now higher than chocolate manufacturer, Cadbury’s, gold’s safe haven appeal looks set to increase in the coming months. Especially as the issuance and supply of government bonds is set to surge as budget deficits balloon internationally while gold supply remains anaemic at best (news today that South African gold production fell 7.6% for the year in March).

With inflation likely to rise in the coming months, those saving for a rainy day may soon turn to the finite inflation hedge that is gold.

14-May-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold $

 

     923.22

 

3.81%

4.89%

6.70%

145.27%

Silver

 

      13.83

 

8.94%

22.34%

-16.41%

141.27%

Oil

 

      56.85

 

15.64%

27.46%

-54.09%

37.38%

FTSE

 

      4,330

 

8.69%

-2.34%

-30.29%

-2.77%

Nikkei

 

      9,094

 

2.84%

2.64%

-35.59%

-16.18%

S&P 500

 

         884

 

5.04%

-2.14%

-37.25%

-19.32%

ISEQ

 

      2,545

 

5.44%

8.62%

-60.18%

-51.00%

EUR/USD

 

     1.3570

 

2.30%

-2.89%

-12.25%

14.14%

© 2009 Goldassets.co.uk

 

 

 

 


A Euro Perspective of the world markets

 

 

 

14-May-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold €

 

680.34

 

1.45%

8.01%

21.60%

114.89%

Silver €

 

      10.19

 

6.10%

25.98%

-4.74%

111.38%

Oil €

 

      41.89

 

11.54%

31.25%

-47.68%

20.36%

FTSE €

 

      3,898

 

6.96%

4.37%

-37.59%

-22.23%

Nikkei €

 

           70

 

4.25%

0.78%

-18.97%

-11.94%

S&P 500 €

 

         651

 

2.61%

0.77%

-28.49%

-29.31%

ISEQ €

 

      2,545

 

5.44%

8.62%

-60.18%

-51.00%

EUR/USD

 

      1.357

 

2.30%

-2.89%

-12.25%

14.14%

EUR/JPY

 

      129.3

 

-1.53%

1.85%

-20.51%

-4.81%

EUR/GBP

 

1.1108

 

1.12%

-6.43%

11.70%

25.02%

© 2009 Goldassets.co.uk

 

 

 

 

A GBP Perspective of the world markets

 

 

 

14-May-09

 

Last

 

1 Month

YTD

1 Year

5 Year

Gold £

 

612.34

 

2.63%

1.89%

37.74%

186.48%

Silver £

 

9.17

 

7.69%

18.83%

7.89%

181.76%

Oil £

 

37.71

 

14.33%

23.83%

-40.73%

60.47%

FTSE

 

4331

 

8.72%

-2.32%

-30.27%

-2.75%

Nikkei £

 

63

 

11.62%

-9.84%

-8.27%

36.17%

S&P 500 £

 

586

 

1.66%

-0.30%

-19.01%

-2.11%

ISEQ £

 

2293

 

6.71%

2.15%

-54.86%

32.69%

GBP/USD

 

          1.508

 

1.16%

2.95%

-22.52%

-14.37%

GBP/EUR

 

          1.111

 

-1.11%

6.43%

-11.69%

-25.02%

GBP/JPY

 

143.71

 

-2.60%

8.34%

-29.78%

-28.58%

© 2009 Goldassets.co.uk

 

 

 

 

 


 

(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, 14 May 2009 | Digg This Article | Source: GoldSeek.com




 



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