Gold’s Summer Doldrums Normally See Weakness but Fundamentals Could Lead to Surge

By: GoldCore

Gold is trading at $1,541.10/oz, €1,061.29/oz and £943.90/oz.

Gold and silver are lower again today in most currencies after yesterday’s falls. Gold has risen marginally in British pounds (GBP 943.9/oz) as sterling is lower (see cross currency table) with the weak services sector PMI data highlighting the weak U.K. economy and increasing risk of stagflation.

Gold Prices - Fixes - Rates - Volumes

Gold has entered the ‘summer doldrums’ and traditionally seasonal factors result in weakness in the precious metal markets, particularly in June and July.

SILVER
Silver is trading at $35.58/oz, €24.46/oz and £21.71/oz.

PLATINUM GROUP METALS
Platinum is trading at $1,807.50oz, palladium at $769/oz and rhodium at $2,275/oz.

GOLDNOMICS - CASH OR GOLD BULLION?

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This update can be found on the GoldCore blog here.

Yours sincerely,
Mark O'Byrne
Exective Director

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

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