(1888PressRelease) Platinum shows signs of recovery.MIAMI, FL - Lower than normal platinum prices have been a concern to platinum producers with a threat of production cuts down the line. Three-quarters of the world's platinum comes from South Africa; fortunately the dollar has strengthened against the rand, meaning that it is still possible for producers to profit, even at lower prices. However, labor and production costs have been rising, so...more
(1888PressRelease) Gold prices buoyed by European crisis.MIAMI, FL - The outlook for gold remains very positive for this week with the vast majority of analysts predicting a rise in price due to the ongoing debt crisis in Europe. The continuing sovereign debt crisis should be bullish for gold based on safe-haven demand as long as Europe doesn't slide into recession, which would mean that inflation was no longer a concern. Those analysts who...more
(1888PressRelease) Trichet's remarks cause gold's rise to stall.MIAMI, FL,Gold prices settled today with a slight correction leaving the yellow metal in the $1660 range. As anticipated, yesterday's strong rally provoked some profit taking but a stronger dollar also contributed to gold's sideways move. There is still considerable concern about the crisis in the euro zone and what effect this could have on global stability, encouraging investors to think of liquidation again.Monday's meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel, with its promise of definitive action by the beginning of November, infused the market with confidence; however, it did not take long for that confidence to dwindle, fueled by remarks made by ECB's president Jean-Claude Trichet. Trichet stated that the crisis was 'systemic' and that there was a 'rapidly rising risk of significant contagion' that 'threatens financial stability in the EU', causing investors to fear for the global economy beyond Europe. All eyes will be on Europe over the next three weeks to see whether or not Merkel and Sarkozy can make good their promise of a satisfactory solution. "Gold continues to be...more
(1888PressRelease) Gold slides slightly on profit taking and rising dollar.MIAMI, FL, Gold slipped slightly today, October 13, following some profit taking and a rising dollar. We should expect a certain amount of volatility as changing news, or even people's perceptions of changing news, affects the market. Gold tends to move inversely to the...more
(1888PressRelease) Macroeconomic factors are supportive of increased prices for gold.MIAMI, FL - Gold prices continued to rise again today and are slated to be even higher next week. Apart from the ongoing crisis in the euro zone, economic news from the US this week was the worst since September 2010. According to the Weekly Leading Index growth...more
(1888PressRelease)Palladium is likely to experience problems with supply in the not-too-distant future, suggesting that a significant rise in price could be on the cards.MIAMI, FL,A Russian source states that the country has only 9 tons of palladium in its current inventory and that this would be distributed over the next two years. The remarks have not been backed by Russian officials but it does seem credible that supplies are becoming depleted, which would definitely lead to a rise in the price of the precious metal. Palladium is used in the manufacture of catalytic converters and sees considerable industrial demand. At the same time, it is valued in the jewelry industry, where it offers a cheaper alternative to platinum or white gold. "Palladium is a rare and lustrous silvery-white metal that was first discovered in 1803, making it the "newest" of the bullion metals," says Bill Hionas of Pan American Metals of Miami. "It is in the same group of metals as platinum, but is best known for having the lowest melting point of the platinum group metals. As such it is highly desirable in the automotive industry. It is also used in electronics such as computers and mobile phones."Pan...more
(1888PressRelease) All eyes are on European situation in the coming week.MIAMI, FL, As predicted gold prices rose slightly today, October 17, trading within reach of $1700 at one point, though the price rise was tempered by a stronger dollar....more
(1888PressRelease) A strong dollar and rumors that commodity contracts may be limited combined to cause a drop in the price of gold today.MIAMI, FL - Following yesterday's rise in price, today saw another sharp correction for gold. The euro dropped...more
The team played at the Miami Arena, and its first major stars were New York Rangers goaltender castoff John Vanbiesbrouck, rookie Rob Niedermayer, and Scott Mellanby, who scored 30 goals. Their first game was a 4-4 tie on the road against the Chicago...more
(1888PressRelease) Wall Street reported its worst quarter since the 2008 crisis, not an encouraging picture for the US economy.MIAMI, FL - Concerns about slow growth in the US, combined with the ongoing sovereign debt issues in Europe, are causing...more
(1888PressRelease) Fundamentals underpinning gold are strong.MIAMI, FL - It seems as if there is no happy ending to the European debt crisis and the effect on gold has been the opposite to what one would expect. As the preferred safe haven, gold...more
(1888PressRelease) Silver is poised for a strong rebound, ending the bearish market that has plagued the precious metal since the spring.MIAMI, FL - Despite a rumored slowdown in growth, China's economy is growing considerably faster than that of the...more