Gold News

Gold sinks as the weekend begins

Gold sank through Friday's PM fix and continued falling below $623 as the weekend began.

"Prices are down because the Dollar is stronger," said one wag to the newswires. "Gold has come off quite a bit in the last few days."

Either he didn't notice or care that gold in fact reached new four-week lows in all major currencies. But analysts continue to watch the Dollar closely after US data pulled both ways on the currency markets.

First came news that US consumer prices, after falling for two months, were unchanged in November. But net capital inflows into the US rose in October, outstripping its trade deficit for the month.

That's a whole heap of money! China alone earned $24.4bn shipping cheap goods to the US in October – which is why the US sent a special gift to Beijing this week. For the whole story, click here now...

Adrian Ash is director of research at BullionVault, the physical gold and silver 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 is now a regular contributor to many leading analysis sites including Forbes and a regular guest on BBC national and international radio and television news. Adrian's views on the gold market have been sought by the Financial Times and Economist magazine in London; CNBC, Bloomberg and TheStreet.com in New York; Germany's Der Stern; Italy's Il Sole 24 Ore, and many other respected finance publications.

See the full archive of Adrian Ash articles on GoldNews.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

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