By: Chris Mullen, Gold Seeker Report - 6 October, 2017
Gold edged up to $1270.20 in London before it fell back to $1260.80 in midmorning New York trade, but it then climbed to as high as $1275.30 by midday and ended with a gain of 0.49%. Silver rose to as high as $16.841 and ended with a gain of 1.02%. Full Story
– Gold investment in Germany surged in past 10 years – Germans are largest gold buyers in world: WGC research – Gold investment in Germany surges to €6.8B in 2016 – Gold demand per person is highest in world – double Chinese, UK and U.S. demand – Gold one of the most popular investment for retail investors especially those with high incomes Full Story
Chinese demand will be key to precious metals and industrial metals once China reopens tomorrow. Industrial metals except nickel have remained firm in the last week. Gold and silver have fallen in the last week. If the US dollar continues to gain and Chinese demand is not in line with expectations then gold and silver will see another wave of sell off. If not then gold and silver may form a medium-term bottom. Full Story
By: Chris Mullen, Gold Seeker Report - 5 October, 2017
Gold waffled between $1273.30 and $1278.90 in Asia, but it then drifted back lower in London and New York and ended with a loss of 0.53%. Silver climbed up to $16.738 before it also fell back off, but it managed to close unchanged on the day. Full Story
– Yahoo admits every single one of 3 billion accounts hacked in 2013 data theft – Equifax hacking and security breach exposes half of the U.S. population – Some 143 million people vulnerable to identity theft – Deloitte hack compromised sensitive emails and client data – JP Morgan hacked and New York Fed hacked and robbed – International hacking group steals $300 million – Global digital banking and financial system not secure Full Story
Incoming US jobs numbers suggest robust consumption and growth. A December interest rate hike by the Federal Reserve has been factored in by the markets. There can be two interest rate hikes before March of next year if the US economy adds over 180,000 jobs every month in the October to December period. The only risk is that instead of Yellen some moron is made the Federal Reserve chief. Full Story
By: Chris Mullen, Gold Seeker Report - 4 October, 2017
Gold gained $10.20 to $1282.10 by a little after 8AM EST before it fell back to $1270.80 in midmorning New York trade, but it then bounced back higher into the close and ended with a gain of 0.28%. Silver climbed up to $16.885 before it dropped back to $16.554 and then also edged back higher at times, but it still ended with a loss of 0.12%. Full Story
Since the beginning of 2017 the silver price has disappointed many investors. With a 5% gain so far in 2017, it has failed to match gold’s 11% gains this year. Both precious metals have ultimately performed below expectations given the positive macroeconomic and geopolitical backdrop. However, things are starting to look up for the industrial precious metal as industry observers believe it will outperform gold this quarter and into 2018. Full Story
Gold and silver may have formed a short term bottom. Lead and zinc are the gate crashers in the positive year for industrial metals as they do not show signs of a correction. The pace of rise of lead and zinc are scary but not the rise itself. The rise of industrial metals is in sync with long term fundamentals. If lead and zinc rise another twenty percent over the next twelve months and float over the same then electric car makers will start looking for alternatives. Full Story
By: Chris Mullen, Gold Seeker Report - 3 October, 2017
Gold waffled between $1268.40 and $1272.4 in Asia before it popped up to $1274.50 in early afternoon New York trade and then drifted back lower into the close, but it still ended with a gain of 0.04%. Silver rose to as high as $16.66 and ended with a gain of 0.24%. Full Story
– Right to plan for ‘run on pound’ if Labour wins says Corbyn and Labour party – British pound already down 20% since Brexit, collapse already in play – Run on the pound likely due to Labour’s ‘command economy’ approach – Collapse in Sterling would undermine UK financial system – Portfolios holding sterling and related assets would be significantly affected – Pension funds and property the most likely to get hit by run on the pound – Gold to benefit as sterling collapse picks up pace Full Story
Technically gold and silver are bearish and can fall further. Copper looks bearish. The Euro/usd will see another wave of sell off if it trades below 1.1682 today. The US dollar looks strong due to European woes. Lack of Chinese influence can be seen on industrial metals and silver. Fundamentals of the global economy are stronger than ever before. Japan, Europe, China and the USA have all reported strong manufacturing growth numbers. Full Story
By: Chris Mullen, Gold Seeker Report - 2 October, 2017
Gold dipped $8.80 to $1271.20 in Asia before it bounced back to $1277.10 in late morning New York trade, but it then drifted back lower into the close and ended with a loss of 0.67%. Silver slipped to as low as $16.549 and ended with a loss of 0.36%. Full Story
A beneficiary of economic and political perils from North Korea to Brexit, it’s among the top-performing commodities this year. Meanwhile, the Bank of Russia has more than doubled the pace of gold purchases, bringing the share of bullion in its international reserves to the highest of Mr Putin’s 17 years in power, according to World Gold Council data. In the second quarter alone, it accounted for 38pc of all gold purchased by central banks. Full Story
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