November 22, 2011, Los Angeles – The Gold price eased 2.73 percent or $47.10 and closed at $1,676.50 an ounce on Monday, as stocks plunged for a fourth straight day and Congressional “super committee” members admitted to being hopelessly deadlocked in their search for $1.2 trillion in budget cuts. The price of Silver slid 2.38 percent or $0.77 to close at $31.57 an ounce while the Gold/Silver ratio edged lower to 53.10 as Silver outperformed Gold. “In an environment where real interest rates are negative and the US equity risk premium is high we expect this will sustain strong private and public sector demand for Gold,” said Deutsche Bank.
October 3, 2011, Los Angeles – The Gold price rose 0.58 percent or $9.40 to close at $1,623.70 an ounce on Friday, ending one of the most turbulent quarters for the equity markets since the financial meltdown of 2008, as global stock markets tumbled between 11 percent and 25 percent in the third quarter. Silver slipped 2.28 percent or $0.70 to close at $29.91 an ounce while the Gold/Silver ratio, the number of ounces of Silver it takes to buy one ounce of Gold, edged up to 54.29 as Silver under-performed Gold.
September 22, 2011, Los Angeles – The price of Gold dipped 1.18 percent or $21.30 to close at $1,781.70 an ounce on Wednesday, after the Federal Open Market Committee (FOMC) announced it will launch a $400 billion program to twist the Fed’s $2.85 trillion balance sheet toward longer term securities by selling short term government debt and purchasing longer dated Treasuries, while keeping the fed funds rate at 0 to .25 percent. The price of Silver eased less than 0.01 percent or $0.03 to close at $39.58 an ounce while the Gold/Silver ratio fell to 45.02 as Silver outperformed Gold.
September 20, 2011, Los Angeles – The price of Gold is rallying early Tuesday, trading at $1,793.50 an ounce, after the Gold price eased 1.81 percent or $32.80 to close at $1,778.70 an ounce on Monday, following a rally by the dollar and low-yielding government debt that kept pressure on precious metals despite a late revival in Gold after Greece received positive news from its lenders.
August 25, 2011, Los Angeles – The price of Gold slipped 4.32 percent or $79.00 to close at $1,751.10 an ounce on Wednesday after reports showing new orders for durable goods and home prices beat analyst forecasts, and on speculation that financial markets could be stabilizing. The decline in the Gold price presents a buying opportunity for investors who have been waiting for a substantial dip before entering the physical Gold market.
August 22, 2011, Los Angeles – Gold bullion prices extended their rally on Friday after spiking 1.51 percent or $27.50 to close at $1,851.80 an ounce as investors concerns continued to grow over the potential for a global recession and over the weakness that’s surfacing in the European banking system while the Dow dropped another 173 points on Friday after losing 420 points the previous day. In August alone, the Gold price is up about 15 percent, its best showing since September 1999.
Los Angeles, CA. – Morgan Gold - While global stock markets plunged Friday morning, the price of Gold raced to a new all-time high of $1,878.90 an ounce before paring its gains to its current $1,853.20 an ounce as investors exit the equity markets seeking safety in precious metals. The price of Silver has gained over 4 percent and is now trading at $42.36 an ounce as it follows Gold higher. The surge in Gold was broad-based, with Gold bullion prices hitting record highs in dollars, sterling, euros, yen and even the Swiss franc after the Swiss National Bank (SNB) announced new measures to reel in the currency on August 10.
August 18, 2011, Los Angeles – Gold bullion prices rose 0.18 percent or $3.20 to close at $1,789.40 an ounce on Wednesday after Tuesday’s Franco-German summit failed to provide investors with an effective or timely solution to the euro zone’s debt crisis coupled with late reports that Venezuela was planning to nationalize its Gold industry, led investors to seek the safety of physical Gold and Silver.
August 17, 2011, Los Angeles – The Gold price rallied 1.20 percent or $21.10 to close at $1,786.20 an ounce on Tuesday after a summit between French and German leaders failed to ease investor’s concerns that a solution to the euro zone debt crisis would be found, supporting demand for physical Gold as a safe-haven. The price of Silver gained 1.27 percent or $0.50 to close at $39.89 an ounce while the Gold/Silver ratio fell to 44.78 as Silver outperformed Gold.
August 15, 2011, Los Angeles – The Gold price eased 1.15 percent or $20.40 to close at $1,746.70 an ounce on Friday after reports showing U.S. retail sales posted their biggest gains in four months in July, as Gold continues its consolidation after its best weekly performance since November 2009 helped to push Gold bullion prices 22 percent higher so far in 2011.