As the equities market gyrates, gold bugs are getting their vindication. Better late then never, I suppose.

Gold fell around 0.8 percent on Monday, heading towards $920 per ounce, with dollar strength against a basket of major currencies sapping the appeal of bullion and other commodities priced in the U.S. unit.

Gold ticked higher in volatile trade on Thursday, underpinned by improving investment appetite and gains in other commodities such as oil and metals and despite the dollar rising against the euro.

Profit taking was the name of the game during Thursday trading on the Canadian Markets.

Gold rose when Globex trading resumed in New York late Thursday evening, but sold off the second the Sydney market closed for the weekend. The bottom was in London…about 7:00 a.m. NY time. From there it rose (with lots of opposition) until Globex trading was through for the weekend in New York.

The Canadian Markets managed to pull off a strong rally during Friday trading, with a new gold company sparking interest.

Sweden and Norway’s banking systems, previously untouched by the world global credit crisis, look set to be the latest victims of the credit crunch, reports Britain’s Financial Times.

Sweden’s Riksbank said the global credit crisis increased the sensitivity of banks to other shocks, adding that it had warned that growth in the Baltic states could slow down more suddenly than expected.

Dominic Frisby in Money Week reckons the spread of the global credit crisis will benefit gold and precious metals.

Silver prices for immediate delivery fell by 1.4% in London today, while platinum fell 3.9% and palladium dropped by 2%.  Gold also fell for the second day running. This from Bloomberg.

Silver for immediate delivery fell 24 cents, or 1.4 percent, to $17.19 an ounce in London. The metal will trade at $17.20 in one month and $16 in three months, UBS forecast.

Early Tuesday morning trading in the Far East looked virtually the same as it did on Monday for gold. But once the Comex opened (minutes before, actually) gold got absolutely hammered.

Palladium, the redheaded stepchild of the precious-metals market, looks ready to make a major move.