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FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

Gold Price Positive Developments

Commodities / Gold & Silver May 09, 2008 - 09:33 AM GMT

By: Mark_OByrne

Commodities A firm note tracked the Gold price overnight and it is currently $888.90. Closing above $880 adds to that positive tone and the next resistance level stands at $897. The London AM Gold Fix at 1030 GMT this morning was at $887.25, £453.906 and €573.604 (from $872.25, £445.48 and €568.61 yesterday).


Inflation still remains the main focus of the ECB despite the recent weak Eurozone data. Trichet's tone remained steadfast and soft language was not on the menu at yesterday's press conference following the interest rate decision. The BOE also left interest rates on hold yesterday amid recent negative economic data. Overall, the market expected both outcomes.

Today's Data and Influences

Economic Calendars across the U.S., Eurozone and the UK are barren of any major influence with U.S. trade figures the highlight of the day.

Silver

Silver continues to track gold and currently trades at $17.00.

PGMs

An announcement by UBS that they intend to launch an Exchange Traded Note for platinum resulted in a major rally on the metal. The Exchange Traded Note is not the same as an ETF and will not be backed by the physical metal in the same way. However, a positive tone is set to continue as the new note is expected to open up the market to more investors. Platinum is looking to break $2100 and with it a test of the all time highs.

Platinum is trading at $2089 per ounce (1200 GMT).

By Mark O'Byrne, Executive Director

Gold Investments
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Gold and Silver Investments Ltd. have been awarded the MoneyMate and Investor Magazine Financial Analyst of 2006.

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Gold and Silver Investments Limited hope to inform our clientele of important financial and economic developments and thus help our clientele and prospective clientele understand our rapidly changing global economy and the implications for their livelihoods and wealth.
We focus on the medium and long term global macroeconomic trends and how they pertain to the precious metal markets and our clienteles savings, investments and livelihoods. We emphasise prudence, safety and security as they are of paramount importance in the preservation of wealth.

Financial Regulation: Gold & Silver Investments Limited trading as Gold Investments is regulated by the Financial Regulator as a multi-agency intermediary. Our Financial Regulator Reference Number is 39656. Gold Investments is registered in the Companies Registration Office under Company number 377252 . Registered for VAT under number 6397252A . Codes of Conduct are imposed by the Financial Regulator and can be accessed at www.financialregulator.ie or from the Financial Regulator at PO Box 9138, College Green, Dublin 2, Ireland. Property, Commodities and Precious Metals are not regulated by the Financial Regulator

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. Past experience is not necessarily a guide to future performance.

All the opinions expressed herein are solely those of Gold & Silver Investments Limited and not those of the Perth Mint. They do not reflect the views of the Perth Mint and the Perth Mint accepts no legal liability or responsibility for any claims made or opinions expressed herein.

Mark O'Byrne Archive

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