Spot gold prices made solid gains Monday and Comex gold futures are playing catch-up Tuesday morning.
FORBES: Comex Gold, Silver Higher, with Gold back above $1,500
Spot gold futures have plunged nearly 4% during the past two trading sessions, accelerating a steady 6-week decline.
Spot gold has only climbed 0.4 percent, compared to the HUI, which has increased about 5 percent since August 1.
In other news, reports said the price of spot gold in India hit a record high Thursday, basis the Indian rupee currency.
The table of the monthly spot gold performance from Bloomberg shows that April is typically a fairly good month for gold prices.
The current uptrend on weekly charts dates back to late 2008, and has more than doubled the price of spot gold, during a steady bull run.
FORBES: Comex Gold Dips Sharply On Global Economic News, Strong Dollar
The twice-daily London gold fixings are when the price of spot gold is determined, in London, by the five members of The London Gold Market Fixing Ltd.
Spot gold markets fell below the benchmark 200-day moving average December 14, marking the first such violation of that major measure of technical support, seen in over 2 years.
FORBES: Comex Gold Dips Sharply On Global Economic News, Strong Dollar
The U.S. dollar weakened slightly Thursday, adding 1 cent per ounce to gains in spot silver, while cutting declines in spot gold by 60 cents, according to the widely-watched Kitco Gold Index.
As I write this post on April 15, spot gold prices, according to Bloomberg, settled down approximately 9% for the day (which marks the biggest one day decline since February of 1983), while spot silver prices were down approximately 12% for the day.
Spot gold prices were confined to a trading range that was the tightest in circa 100 days as the summer doldrums and the tug-o-war actions between the bulls and the bears made their presence felt in the trading patterns for the precious metal.
It could take at least a year for improving economic conditions and more cuts in platinum production for the white metal to regain the top spot over gold, analysts said.
Reports this week have said there are shortages of gold bars and coins in some countries, with gold retailers jacking up their charged premiums over the spot price of gold.
As the price of senior gold mining stocks and gold bullion have diverged, the enterprise value per ounce of gold reserves held by gold miners is at a historically steep discount to the spot price of gold.
These senior miners are now at some of the steepest discounts ever to the spot price of gold.
Another approach is to borrow bullion to sell today in the spot market and repay the gold, with interest, from the mines' future production.
Ultimately, the Americans were able to extend their 40-game Olympic winning streak and secure a spot in Saturday's gold-medal game against either Russia or France.
Harrell pays cash on the spot for folks willing to hand over their gold.
Institutions that have large exposures to unallocated gold could find themselves in a spot if enough of their customers decided it was a good time to cash in their certificates.
On a Comex spot continuation chart, this was the lowest price for Comex gold since September 2010.
FORBES: METALS OUTLOOK: Tug-Of-War Action Possible For Gold Next Week
In the men's 400m, Sweden's Johan Wissman set a blistering pace to win gold with Britain's Richard Buck in fifth spot.
They lend gold bullion reserves to short sellers as well as to gold producers themselves, who then sell the metal in the spot markets.
Michal Martikan of Slovakia took gold in the men's single canoe slalom , taking top spot on the podium 12 years after claiming victory in the Atlanta Games.
In 2011, the main indices for senior gold mining stocks were down over fifteen percent, compared to the spot price of the metal, which had appreciated ten percent for the year.
Same with the over-allocation of capital to housing 2001-2007 which ended in the bubble that got us to this frustrating spot. psperry wants Bernanke to raise short-term interest rates slightly in order to crack oil and gold and food prices so that we can start over from a worse place and lead up to another boom.
FORBES: The Open-Ended Bernanke QE3 Won't Be Open-Ended For Stock Prices And Commodities
Then the team plays in the Gold Cup, a tournament important to U.S. international hopes (the winner gets a spot in the Confederations Cup, a World Cup warm-up).
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