By: Chris Mullen, Gold-Seeker.com - 6 November, 2015
Gold fell $17.96 to $1085.54 at about 9:30AM EST before it bounced back higher at times, but it still ended with a loss of 1.4%. Silver slipped to as low as $14.722 and ended with a loss of 1.73%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 November, 2015
New York closed at $1,103.50 down from $1,107.50 on Thursday. In Asia it rose to $1,110.00 again, before London opened. The LBMA price setting fixed it at $1,107.70 up 30 cents over yesterday’s LBMA price setting. The dollar Index was stronger yesterday and rose to 98.01 up from 97.94 at the close of New York. The dollar was slightly weaker at $1.0879 down from $1.0861 against the euro. In the euro the fixing was €1,018.29 down from €1,019.71. At New York’s opening gold was trading in the euro at €1,018.85 and at $1,108.25. Full Story
The US government has once again agreed to increase it’s so-called debt “ceiling” – this time from $18.5 trillion to $20 trillion. The so-called debt ceiling is recognized industry-wide as a complete misnomer. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 November, 2015
Gold saw slight gains in Asia, but it then chopped back lower in New York and ended with a loss of 0.36%. Silver slipped to as low as $14.943 and ended with a loss of 0.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 November, 2015
New York closed at $1,107.50 down $10.20 on Wednesday. In Asia it rose to $1,110.00 before London opened. The LBMA price setting fixed it at $1,107.30 down from $1,118.00 yesterday. The dollar Index was stronger yesterday and rose to 97.94 up from 97.36 at the close of New York. The dollar was stronger at $1.0861 up from $1.0931 against the euro. In the euro the fixing was €1,019.71 down from €1,023.25. At New York’s opening gold was trading in the euro at €1,021.56 and at $1,111.15. Full Story
In August, bitcoin fell to a low for 2015 near $200 amid turmoil in the Chinese and global stock markets. But bitcoin transaction volume has been growing. Blockchain.info data shows that unique bitcoin wallet addresses—which are how users manage and trade bitcoin—are at an all-time high. Some have multiple bitcoin addresses, but such a spike suggests there are new users as well. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 November, 2015
Gold fell $11 to $1106.70 in early afternoon New York trade before it bounced back higher in the last couple of hours of the day, but it still ended with a loss of 0.91%. Silver slipped to as low as $15.08 and ended with a loss of 1.31%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 November, 2015
New York closed at $1,117.70 down $16.60 on Tuesday. In Asia it rose to $1,120.00 before London opened. The LBMA price setting fixed it at $1,118.00 down from $1,130.90 yesterday. The dollar Index was stronger yesterday and rose to 97.36 at the close of New York up from 96.86 yesterday. The dollar was slightly stronger at $1.0931 up from $1.1017 up against the euro. In the euro the fixing was €1,023.25 down from €1,029.789. At New York’s opening gold was trading in the euro at €1,023.19 and at $1,118.30. Full Story
The blunt-spoken, truth-telling Faber may have helped people understand that one may be worried about the economic outlook and bearish on stocks and other markets and yet be an optimist about life and all the wonderful things it has to offer and on the human spirit and our capacity to overcome even the worst financial and economic crashes. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 November, 2015
Gold fell $19.68 to $1114.62 in early afternoon New York trade before it bounced back higher in the last couple of hours of the day, but it still ended with a loss of 1.46%. Silver slipped to as low as $15.219 and ended with a loss of 0.91%. Full Story
Paul Mason, writing in The Guardian, describes how we are already at the beginning of a financial Apocalyse. “A predicted global meltdown passed without event. But there are enough warning signs to suggest we are sleepwalking into another disaster”. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 November, 2015
Gold fell $8.43 to $1133.07 in late morning New York trade before it bounced back higher into early afternoon, but it still ended with a loss of 0.63%. Silver slipped to as low as $15.27 and ended with a loss of 0.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 November, 2015
New York closed at $1,141.50 on Friday down from $1,145.80 on Thursday. It held that level in Asia before London opened. The LBMA price setting fixed it at $1,135.80 down from $1,147.75 on Friday. The dollar Index has risen and now stands at 96.80 down from 97.11 on Friday. The dollar was weakening this morning as London opened, trading against the euro at $1.1025 down from $1.0993. In the euro the fixing was €1,030.20 down from €1,041.75. At New York’s opening gold was trading in the euro at €1,032.87 and at $1,137.60. Full Story
Dennis Gartman, author of the institutionally well followed ‘The Gartman Letter,’ has asked questions about gold’s peculiar price action last week and raised the question as to whether there was official central bank manipulation of gold prices. Gold was 2.4% higher in October but fell 2% last week as the Fed again suggested they may soon increase interest rates. Gartman’s assertion is significant as he is no so-called ‘goldbug’. In fact, he is the darling of Wall Street, Bloomberg, CNBC and is highly respected and followed by large hedge funds and financial institutions. Full Story
This is the first trading day of the month. There will be position squaring and rebuilding for month end as well as yearend. US October nonfarm payrolls this week is the key. This number will decide on the co called chances of an interest rate hike in December. Chinese manufacturing data over the weekend has not been that great. Base metals traders, if they focus on china, will not be buying any metal. Lack of Indian demand has also resulted in losses for gold and silver. Technically gold and silver are in a neutral zone. Full Story
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