Gold up, silver at 31-year high on flight to safety - Reuters March 23"Gold on Wednesday hit its highest since early March and silver struck a 31-year peak as investors sheltered in precious metals from weak data, Middle East unrest and a key vote threatening Portugal's government.Spot gold was bid at $1,439.44 a troy ounce at 1507 GMT from $1,429.50 late in New York on Tuesday. The precious metal hit a session high of $1,440.90, its highest since March 7 when it scored a record peak of $1,444.40 an ounce. Tracking bullion, spot silver hit a session high of $36.85 an ounce, its highest since 1980."As long as we still have all this uncertainty it lends good support to the gold story," Saxo Bank senior manager Ole Hansen said as oil prices stayed high, fighting in Libya escalated and unrest simmered across the Middle East. "There is a chance now that we could move to the $1,450 level," he added.Weak economic data boosted investors' flight to gold as a safe haven from risk. Figures showed new U.S. single-family home sales unexpectedly fell in February to hit a record low and that euro zone consumer confidence declined in March.The latest flurry of gold purchases was also bolstered by the expectation Portugal's parliament would reject the government's latest austerity measures, setting the stage for the possible collapse of the minority Socialist administration ahead of a European summit. Also hitting risk appetite, European Union leaders are set to delay a decision on how to strengthen their multi-billion euro rescue fund beyond the summit this week. "Today there is focus on Portugal. There are debt problems more generally in the western world and of course we should not forget the Middle East, which also leads to safe-haven flows," said Christin Tuxen, analyst at Danske Bank."Longer term, the fact that interest rates are on the rise generally will make the opportunity cost of investing in gold higher, making it less attractive."OIL SUPPLYConflict in the Middle East has helped gold market sentiment and boosted oil prices because of worries about supply disruptions in the region. Gold is used as a hedge against inflationary pressures, often triggered by rising oil prices. Brent crude oil dipped slightly but, at $115 a barrel, was nearing recent 2-1/2 year highs of around $120.Forecasts of stronger industrial demand have helped silver prices climb. Spot silver was bid at $36.81 an ounce from $36.34 late on Tuesday."While many market participants are impressed by silver's industrial and retail demand, and are concerned about physical shortages, another portion believe there is too much speculative noise in the market right now," UBS said in a note."...More on the link

Gold-Offer-Below-Market-Price-Not-SpamA lot of speculation on the back of the shinning metal !

When it was 1053 people were saying 1100 ..When it hit 1180 ..1200 was the limit when it reaches 1200 ..1300 became the limitafter 1300 ... 1400NOWhere we go after 1400 ..it is nearly touching 1500What's next huge correction or bulls will continue ... Fed QE ..Debt..Middle East Crisis.. Many hidden variables

Standard & Poor?s downgrade of the U.S. credit outlook.

http://www.zerohedge.com/sites/default/ ... 204.18.jpg

IBM, INTEL, JOHNSON & JOHNSON, STATE STREET and GOLDMAN SACHS:::::Earning Season is on !! Vs Uncetanity:::::

$1504

Action since yesterday!! Gold at Fresh High $1534 Silver $48 Soon $50--- May be Higher EUR $1.484 Soon 1.49 BIG Winners EUR, GBP and AUD each climbing around 100 pips since the statement. $600 bln QE program will end in June The FOMCs next meeting will be on June 22, at which point the Committee would have ended its POMO programs but may reinvest part of its mortgage payments, which will become the key lever of shifting liquidity and monetary policy depending on the interplay between growth, unemployment and inflation From Macro Eco releases every day many economist already said that there will be a reviosn of growth forecast and finally Growth forecasts downgraded Metals were waiting for dovish fed .. definately given GREEN signal to traders to Sell $ and buy precious metals After All...Fed FOMC DXY(Dollar Index) hits finally back to 2008 levels

::::NEW High:::: :::Current Price $1584::::

so....any comments on the latest gold price movements?

Its Dec 11th, who want to see gold $2000 in 19 days 17% Move is it really possible ?not sure, but it should close above $1800

The price lost 8 percent in the preceding three days

QuoteOriginally posted by: OwaisThe price lost 8 percent in the preceding three daysthat was very careless

QuoteOriginally posted by: OwaisThe price lost 8 percent in the preceding three daysI saw that, and oil (WTI) took a hit as well

QuoteGold futures skidded nearly 5% Wednesday, sinking below the $1,600 level for the first time in nearly three months, as a drop in the euro signaled a new level of anxiety about the region?s debt crisis and investors sought cash as the safest asset.Gold drops nearly 5%, breaks 200-day average