Gold dropped $34.13 to $1163.87 by early afternoon in New York before it edged back higher in late trade, but it still ended with a loss of 2.7%. Silver slipped to as low as $15.777 and ended with a loss of 2.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 March, 2015
New York closed at $1,198.00 down $1.40 in a thin market still dominated by currency issues. Asia took the gold price up slightly to $1,198.90 before London pulled it down to $1,199. London then Fixed the gold price at $1,196.50 down $3.25 and in the euro, at €1,090.602 up €4.561, while the euro was at $1.0971 down nearly three quarters of a cent again. Ahead of New York’s opening, gold was trading in London at $1,196.40 and in the euro at €1,093.25. Full Story
Apple may consume up to 746 metric tonnes of gold per year in the production of its new luxury Apple watch, due for release in April. This equates to roughly one third of gold’s total annual global mine supply. The watch will come in three varieties – the entry level “Sports” model, the mid-tier “Apple Watch” and the upper end “Apple Watch Edition” which the company says will be made of 18k (75% pure) gold and is estimated to retail from anywhere between $4,000 and $10,000. Full Story
Gold dipped $1.43 to $1197.97 in London before it rallied back to $1209.48 at about 10:40AM EST and then drifted back lower in the next few hours of trade, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.12%. Silver rose to as high as $16.362 and ended with a gain of 0.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 March, 2015
New York closed at $1,199.40 down $3.80 in a market dominated by currency issues. Asia took the gold price up to $1,204 before London pulled it down to $1,199. London then Fixed the gold price at $1,199.75 down $4.50 and in the euro, at €1,086.041, up €3.374, while the euro was at $1.1047 down nearly three quarters of a cent. Ahead of New York’s opening, gold was trading in London at $1,200.00 and in the euro at €1,086.17. Full Story
The vulnerability of banks and the global banking system – reliant as it has become on computer systems, information technology and the internet – was highlighted yet again in an important article in the Financial Times on Tuesday which was largely ignored elsewhere. Full Story
Gold edged up to $1209.07 in Asia, but it then dropped to as low as $1198.43 in New York and ended with a loss of 0.32%. Silver slipped to as low as $16.10 and ended with a loss of 0.49%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 March, 2015
New York closed at $1,203.20 down $2.30. Asia took the gold price up to $1,207 before London pulled it down to $1,204. London then Fixed the gold price at $1,204.25, down $3.50 and in the euro, at €1,082.667, up €1.147, while the euro was at $1.1123 down nearly half a cent, again. Ahead of New York’s opening, gold was trading in London at $1,204.40 and in the euro at €1,082.17. Full Story
“Spocking” is the act of defacing the Canadian $5 note by superimposing the likeness of the half-Vulcan doctor onto the image of former prime minister, Sir Wilfred Laurier. There is quite a resemblance and therefore not much art is required to transform the former prime minister into the beloved Dr. Spock. Full Story
Gold dipped down to $1195.54 in early Asian trade before it rallied up to $1214.68 at about 10AM EST, but it then fell back to $1201.87 in the next hour of trade and ended with a loss of 0.19%. Silver slipped to as low as $16.081 and ended with a loss of 0.67%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 March, 2015
New York closed at $1,205.50 down $5.60. Asia took the gold price up to $1,210 before London pulled it down to $1,208. London then Fixed the gold price at $1,207.75 down $9.00 and in the euro, at €1,081.196 up €3.735, while the euro was almost unchanged at $1.1170 down nearly half a cent. Ahead of New York’s opening, gold was trading in London at $1,208.40 and in the euro at €1,082.07. Full Story
There are signs that the debt induced banking-crisis which rocked the global economy in 2008 – only to be postponed with vast infusions of new unpayable debt courtesy of the taxpayer – may be set to resume. Bondholders are feeling the painful impact of the EU’s new bank resolution regime and bank bail-ins for the first time after the Austrian government said it would pour no more money into its ‘bad bank’, triggering a fall of nearly 30 per cent in the value of some bonds. Full Story
Gold climbed $12.14 to $1223.24 in Asia, but it then fell back off in London and New York and ended with a loss of 0.46%. Silver slipped to as low as $16.36 and ended with a loss of 1.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 March, 2015
New York closed at $1,211.1 up $2.70. Asia took the gold price up to $1,221 before London pulled it down to $1,214. London then Fixed the gold price at $1,216.75 up $11.75 and in the euro, at €1,084.931 up €11.339, while the euro was almost unchanged at $1.1215. Ahead of New York’s opening, gold was trading in London at $1,213.60 and in the euro at €1,081.01. Full Story
Gold in Singapore climbed to its strongest price in almost two weeks, strengthened by firm Chinese demand after an interest rate cut in China which is a positive for the yellow metal. In late afternoon in Singapore, gold bullion was up 0.7 percent at $1,221.40 an ounce its highest since February 17th. In February, gold lost 5.5 percent its most since September 2014. Full Story
This is a “Holi week” for Indians. US February nonfarm payrolls on Friday will give us an indication whether there will be a June interest rate hike. Chinese markets have also opened after their New Year. Gold and silver have a very crucial two weeks period. Full Story
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