PRECIOUS METAL

Gold rallied on Friday to an all-time record above $1,260 an ounce, as investors looked to precious metals for an alternative to equity or debt investments given renewed uncertainty about the economic recovery.

Gold rallied to a record high above $1,260 an ounce on Friday as momentum triggered by buying of the metal as a haven from sovereign and financial risk pushed prices through technical resistance.

Gold held within reach of record highs in Europe on Friday as buyers looked to it as a haven against persistent fears of sovereign risk in Europe and after lackluster U.S. data raised doubts over wider economic recovery.

IBTimes had an interview with James Turk, Founder & Chairman of GoldMoney.com. Who is your target audience? We have around 15,000 clients all over the world, and they share one common aim. They want to protect their wealth from the turmoil of national currencies and the uncertainty surrounding the ongoing financial crisis. So they want to own gold and find GoldMoney a convenient, economical and most importantly, a safe way of doing that. There is over $1 billion of customer assets in GoldMoney...

IBTimes had an interview with James Turk, Founder & Chairman of GoldMoney.com. Who is your target audience? We have around 15,000 clients all over the world, and they share one common aim. They want to protect their wealth from the turmoil of national currencies and the uncertainty surrounding the ongoing financial crisis. So they want to own gold and find GoldMoney a convenient, economical and most importantly, a safe way of doing that. There is over $1 billion of customer assets in GoldMoney...

What is your Prediction for Gold in 2010 and 2011 Many are projecting gold to perhaps double in the span of one to two years. I think this would only be the case under one or two very severe circumstances. The most prominent threats are that the euro is abandoned or substantially restructured or there are a series of prominent downgrades amongst the major economies.

The precious metals market has started decoupling from global equities, according to National Inflation Association (NIA) which forecasted such an eventuality some months ago.

Gold prices surged to all time records in India and neighboring Nepal as the marriage season demands more purchase of the yellow metal. In India, world's largest gold market, prices zoomed to an all-time high of Rs 19,050 per ten grams here while in Nepal prices rose to another record high of Nepal Rs 30,910 per 10 grams.

Indians gave the biggest boost to gold this week with the demand rising in the country following the onset of wedding season across the country. Breaking all previous records, gold prices zoomed past Rs 18,800 per 10 gm level on Thursday in New Delhi while Mumbai witnessed Rs 18,600 level. This jump in India, which is the biggest consumer of the metal in the world, and the rise in demand have delivered the much needed push to the gold market globally.

Gold is one of the more mysterious assets in the financial markets. It's volatile at times to the point of inducing vertigo and fans of the precious metal assert, somewhat contradictorily, its prowess as a hedge against both inflation and deflation.

Gold prices moved up in Asian trade Monday as investors remained confident on yellow metals status as a safe haven asset in troubles. Gold for immediate delivery was seen trading at $ 1184.51 an ounce at 11.30 a.m Singapore time while gold futures for June delivery was at $US1185.10 an ounce at the same time. Analysts said, Long-term investors maintained their affinity for the precious metal despite the recent rise in volatility in other markets, including stocks.

Gold prices eased in Asian trade Wednesday even after reports of a tumbling euro. Gold for immediate delivery was seen trading at $ 1213.75 an ounce at 11.00 a.m Singapore time while U.S. gold futures for June delivery was at 1213.31 an ounce e at the same time.

Gold prices advanced in Asian trade Tuesday but remained volatile as investors began profit taking on recent highs of the precious metal. The yellow metal however remained $20 below a lifetime high struck last week, while another increase in holdings in the world's largest gold-backed ETF showed investors were keeping faith with the metal.

Last week's action on Wall Street and other world markets demonstrated anew gold's special qualities as a financial life preserver in tumultuous and uncertain times. With stock prices plummeting and the euro continuing to lose value as well as credibility, gold was virtually the only financial and investment asset to shine, continuing its recent sharp climb and breaking through the $1,200 level, according to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital.

The Dow and the S&P 500 fell in a volatile session on Tuesday as fears that a $1 trillion bailout for Europe won't solve the region's deep-seated problems blunted an improving U.S. economic picture.

Gold prices eased in Asian trade Friday, after an overnight surge, as investors turned to profit booking. Gold for immediate delivery was seen trading at $ 1206.71 an ounce at 12.00 noon Singapore time while US gold futures for June delivery was at $1,200.40at the same time.

Gold prices retreated on Tuesday from five-month highs above $1,190 hit earlier in the day, as its safe-haven status was dented by Spain's dismissal of rumors the country needed 280 billion euros ($372.9 billion) of aid.

Gold prices, which have rallied sharply in recent weeks on sovereign risk concerns, may be vulnerable to a sharp correction when the fear factor dies down.

Gold prices eased in Asian trade Tuesday after an overnight rally put the precious metal to its highest settlement in five months. Gold for immediate delivery was seen trading at $1181.49 an ounce at 11.30 a.m Singapore time while U.S. June gold futures was at $1182.47 an ounce eat the same time. Analysts said gains in the dollar hampered gold's rally. The greenback remained firm against a basket of six major currencies on Tuesday after rising against the euro and yen on Monday on growth in U.S....

As the uncertainty on the currency derivatives is looming large and gold investments became less yielding in the time of reduced physical demand from consumers, traders have found an attractive investment instrument from silver for their investors as bullion traders are now mulling to launch silver ETFs in India.

China's yuan could become a reserve currency accounting for at least five percent of global foreign-exchange reserves as early as 2025, central bankers said in an annual global survey.