My apologies for the lack of an update last week, it has been an exceptionally busy time for us - with the New Zealand Mint's collectable coins flying out the door as well - especially the Sputnik 50th Anniversary coin. Check out the story here.
The past couple of weeks haven't seen much great movement in the gold price, until Friday night. Gold is now trading just over USD$790 per ounce.
This is a big movement, based primarily on a weaker US dollar and stronger oil prices. The situations in Turkey and Iran are also big influences on the price as well.
Some articles on the big move from Friday:
Bloomberg
Reuters
Reuters again
The Independent
and the Resource investor
As you can see, there are a lot more people bullish on gold now than earlier this year.
Given the predicted rates drop in the US shortly we could see our dollar (NZD$) start to climb back up again (which helps to keep the price of gold down here) so the outlook is for more movement both in the gold price and the exchange rate.
Gold interest story of the week:
Gold nanoparticles 'in new rapid meningococcal diagnostic test'
