By: Chris Mullen, Gold-Seeker.com - 6 February, 2015
Gold fell $39.51 to $1230.69 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 2.72%. Silver slipped to as low as $16.598 and ended with a loss of 3.18%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 February, 2015
New York closed at $1,270.20 up $4.90. In Asia gold slipped slightly to $1,267.80 ahead of London’s. At the Fix gold was set at $1,264.00 up $0.24 and in the euro, at €1,103.641 down €3.067, while the euro was slightly stronger at $1.1453. Ahead of New York’s opening gold was trading in London at $1,265.00 and in the euro at €1,105.09. Full Story
The bully tactics employed by the ECB against the newly elected government in Greece demonstrates once again how the ECB and the entire European project puts the interests of banks and political elites over those of the average citizen. Certainly, it is necessary to take a tough stance regarding fiscal responsibility and discipline. Very few people suggest otherwise. Full Story
Gold and silver will break free from the recent wider trading range and form a new range anytime soon. US January nonfarm releases will affect bullion and other metals and energies only if they deviate (either side) in a big way from the expectations. After that the focus will shift to Greece, Denmark and the Czech Republic where an EU bailout and interest rate cuts have been making headlines. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 February, 2015
Gold saw decent gains in Asia before it fell back to $1256.76 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a gain of 0.39%. Silver slipped to as low as $16.929 and ended with a loss of 0.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 February, 2015
New York closed at $1,265.30 up $4.10. In Asia gold rose to $1,270.6 ahead of London’s opening where it returned to $1,266.6. At the Fix gold was set at $1,263.75 down $17.25 and in the euro, at €1,106.708 down €2.092, while the euro was weaker by nearly 1.5 cents at $1.1419. Ahead of New York’s opening gold was trading in London at $1,262.30 and in the euro at €1,103.94. Full Story
Financial carnage for Greek assets continued today. Greek borrowing costs leapt and bank shares were hammered this morning after. The Athens Stock Exchange FTSE Banks Index plunged 23 percent at the open before recovering somewhat. Three-year government borrowing costs leapt more than three percentage points to nearly 20 percent, leaving Greece utterly shut out of the markets. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 February, 2015
Gold climbed $10.83 to $1272.03 by a little after 10AM EST before dropped back to almost unchanged in the next half hour of trade, but it then rallied back higher in afternoon trade and ended with a gain of 0.33%. Silver rose to as high as $17.652 and ended with a gain of 0.46%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 February, 2015
New York closed at $1,261.20 down $13.40. In Asia lifted gold slightly to $1,264 but ahead of London’s opening recovered to $1,284.70. At the Fix gold was set at $1,281.00 down $11.75 and in the euro, at €1,108.80 down €20.133, while the euro was barely changed at $1.1553. Ahead of New York’s opening gold was trading in London better, at $1,267.60 and in the euro at €1,107.85. Full Story
In Asia, bullion in Singapore for immediate delivery moved sideways and this continued in European trading until a sudden spike saw gold suddenly rise in the few minutes before the gold fix. Gold rose from $1,263 per ounce at 1027 (London time) to $1,271.40 per ounce at 1030 London time. Gold has since retraced some of the gains seen at the fix but is up 0.6 percent this morning, regaining some of the 1.2% price fall yesterday. Risk aversion is back and European equities have fallen after initial gains. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 February, 2015
Gold climbed $10.43 to $1285.03 at about 4AM EST before it fell back to $1257.04 by late morning in New York and then bounced back higher in early afternoon trade, but it then edged back lower again into the close and ended with a loss of 1.05%. Silver rose $0.536 to $17.736 in Asia before it fell back to $17.106, but it then bounced back higher in afternoon trade and ended with a gain of 0.47%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 February, 2015
New York closed at $1,274.60 down $9.70. In Asia gold held that level but ahead of London’s opening recovered to $1,284.70. At the Fix gold was set at $1,281.00 up $5.75 and in the euro, at €1,128.933 up €6.246, while the euro was barely changed at $1.1347. Ahead of New York’s opening gold was trading in London better, at $1,282.40 and in the euro at €1,129.92. Full Story
The overhaul of the gold fixing benchmark formally known as the London Gold Fix is due to begin in March. Participants are hoping that there is less disorder than was seen for the messy launch of the London Silver Price (LSP) last August. Full Story
US December consumer spending dropped while the consumer savings rate rose by 0.50% to 4.90%. This is an indication of the long term change in consumer preference. The US savings rate will only increase as the year progresses. The Federal Reserve could delay its interest rate decisions. US January private ADP number tomorrow will be the key. The direction of the US dollar will also affect bullion prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 February, 2015
Gold dropped $17.66 to $1266.64 by a little after 9AM EST, but it then rallied back higher for most of the rest of trade and ended a loss of just 0.76%. Silver slipped to as low as $17.004 in London, but it then climbed to as high as $17.306 in New York and ended with a loss of just 0.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 February, 2015
New York closed at $1,284.3 up $26.70. In Asia gold held that level but London pulled it back to $1,275. At the Fix gold was set at $1,274.25 up $10.75 and in the euro, at €1,122.687 up €7.703, while the euro was stronger at $1.1350. Ahead of New York’s opening gold was trading in London better, at $1,277.30 and in the euro at €1,126.12. Full Story
In January, gold surged 8 per cent in dollar terms, 11 per cent in pound terms and a very large 16 per cent in euro terms. January’s 8.4% gain for gold in dollar terms was the best month in terms of price gains in three years. Thus once again, gold bullion performed its role as a hedging instrument and a safe haven asset in January as the outlook became decidedly more uncertain – particularly in the Eurozone. Full Story
This is a US nonfarm payrolls week. Over the past few months there has been more action on days before the release of this number than after the release of this number. Many a times the reaction to the number have been subdued. Another thing which confuses me is the whether a really good number (if any) can actually sway the investor to shun gold and invest elsewhere. Most of the good news of the US economy has already been factored in. Full Story
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