Gold News

Gold market slows to a crawl

Gold has crawled a little higher ahead of the New York session today. European traders put a halt to the drop in Asia, sending the AM fix in London to $617.50 – the lowest fix since Nov.2, but nearly $1.50 up from Friday's close in New York.

"With Dollar sentiment improving and fund players
still positioned long ahead of year-end...the market remains
at most risk to further long liquidation," says HSBC bank in a note.

Today's major data release was US current account data for the third quarter, which came in at $225bn. Last week's tame US inflation data saw the Dollar hold firm, as the Euro slipped against everything. Sterling now represents the "anti-Dollar" for currency investors – including central bankers.

In fact, the Pound became the world's third reserve currency this year - which is just nuts! Click here to read why...

Adrian Ash

Adrian Ash, BullionVault Gold News

Adrian Ash is director of research at BullionVault, the world-leading physical gold, silver and platinum market for private investors online. Formerly head of editorial at London's top publisher of private-investment advice, he was City correspondent for The Daily Reckoning from 2003 to 2008, and he has now been researching and writing daily analysis of precious metals and the wider financial markets for over 20 years. A frequent guest on BBC radio and television, Adrian is regularly quoted by the Financial Times, MarketWatch and many other respected news outlets, and his views from inside the bullion market have been sought by the Economist magazine, CNBC, Bloomberg, Germany's Handelsblatt and FAZ, plus Italy's Il Sole 24 Ore.

See the full archive of Adrian Ash articles on GoldNews.

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