Gold jumped up to $1293.76 after the release of this morning’s jobs data before it pared its gains into midmorning, but it then rose to a new session high of $1295.42 in early afternoon trade and ended with a gain of 0.85%. Silver rose to as high as $17.578 and ended with a gain of 0.63%. Full Story
Buy gold and ‘get out of the stock market,’ legendary billionaire investor Stanley Druckenmiller, advised investors this week at an investment conference in New York. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 6 May, 2016
Japan - While Mr. Abe has now made it clear that he will use the G-7 meeting to drum up support for acceptance of policies that directly weaken the Yen, contrary to their agreement not to manipulated currencies for international trade competitive reasons. Full Story
By: Chintan Karnani, Insignia Consultants - 6 May, 2016
Lack of Chinese investment demand has so far caused metals to fall. China will reopen next week. Chinese investment demand in metals and energies will be the key to the continuation of a bullish run. Do not go by the headline numbers of nonfarm payrolls. I am not a buyer in gold unless it trades over $1309 after the release of US nonfarm payrolls. If gold falls, silver will nosedive. Full Story
Gold gained $6.92 to $1286.12 at about 9AM EST before it fell back to $1269.46 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.15%. Silver rose to as high as $17.633 before it fell back to $17.242, but it also edged back higher in late trade and ended unchanged on the day. Full Story
The coming ‘shariah gold standard’ or shariah compliant gold could lead to a very significant source of new demand for physical gold coins and bars in the Islamic world. It is believed that this will contribute to much higher prices and gold “soaring” as some of the $2 trillion of assets held in Islamic financial institutions are allocated to the very small physical global gold market. Full Story
By: Chintan Karnani, Insignia Consultants - 5 May, 2016
All metals and energies will zoom and the dollar collapse story will restart if US April nonfarm payrolls comes in below 160,000. A NFP number below 160,000 will imply that there will not be any interest rate hike this year by the Federal Reserve. The Federal Reserve is the only key central bank to tighten, the rest of central bank bias is towards increasing the reign of free money. Any expectations of an increase in global liquidity will result in commodity prices sky rocketing and short term quick gains in emerging market currencies. Full Story
Gold dropped almost 1% in London before it bounced back to $1289.33 at about 8:30AM EST and then fell to a new session low of $1272.11 by early afternoon in New York, but then rallied back higher in late trade and ended with a loss of just 0.61%. Silver slipped to as low as $17.174 and ended with a loss of 0.52%. Full Story
What has been going on since mid-February is a burst of the ‘inflation trade’ as evidenced by silver’s leadership in the precious metals sector. This opened the barn door for all kinds of inflated animals to flee into the light of day, and for commodity and inflation boosters to do their thing. As often happens with silver, things were pushed to and even through their limits. Silver went up, oil went up, base metals went up and stocks went up. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 4 May, 2016
For those following the Technical picture, this is confusing because you are not following just the gold price any more, but the gold price in dollars. The Technical picture of gold in the Yuan is now very different. So is the Technical picture defining the dollar’s moves against gold or gold against the dollar? The same applies to all other currencies where the Technical picture is different. Full Story
Gold gained $11.66 to $1301.66 at about 4AM EST before it dropped back down to $1283.54 by late morning in New York, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.22%. Silver slipped to as low as $17.343 and ended with a loss of 0.46%. Full Story
Rick’s professional background includes 12 years as a market maker on the floor of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader. Everyone says to buy at the bottom of the market but few have the gumption to pull it off. Brazil Resources Inc. (TSX-V:BRI, OTCQX:BRIZF) founded in 2009 and taken public in 2011, has spent the last few years snapping up gold projects in the bear market at increasingly cut-rate prices. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 May, 2016
The Shanghai Gold Fixings today again show a real rise in the price of physical gold as the number of the Yuan in dollars rose [weakened]. But a significant weakening of the dollar helped the gold price rise to $1,300. The rise in the gold price held in London ahead of the LBMA gold price setting. Full Story
I believe that the massive tidal wave of decentralisation and future Bitcoin advancements will start to occur more rapidly now, setting the stage for society to realize the plethora of currently imagined innovations. However, at the center of all of this incredible progress will be the unwavering and critical value of the humble digital bearer token known as bitcoin. Full Story
By: Chintan Karnani, Insignia Consultants - 3 May, 2016
The current rise in gold and silver is backed by a weaker US dollar and expectation of a delayed interest rate hike by the Federal Reserve. Physical gold buyers are on the sidelines. Those who have purchased physical gold are not making new purchases. New physical gold investors are waiting for Friday’s US April nonfarm payrolls. It will be a technical trade after NFP with the US dollar as the key. Full Story
Gold gained $10.72 to $1303.62 by a little after 8AM EST, but it then chopped back lower in New York and ended with a loss of 0.22%. Silver slipped to as low as $17.489 and ended with a loss of 1.79%. Full Story
The Bank of Japan (BOJ) opted against boosting stimulus this week, in a decision that battered the U.S. dollar and gave gold a surprise lift, reports Bloomberg. The Japanese yen also reacted to the bank’s decision, surging the most since the 2010 stock-market meltdown. On Wednesday, the Federal Reserve left its benchmark rate unchanged too, helping to boost the yellow metal. Full Story
By: Chintan Karnani, Insignia Consultants - 2 May, 2016
Last week was the herd. All metals and energies rose at the same time. The US dollar depreciated along with below expectation US economic data releases. This resulted everything rising and breaking past key technical resistances. You went long with a high margin money in all metals and energies. You won. You went short and you got busted. Full Story
Traders you don’t have to chase, you will get a better opportunity. Traders already long should trail a stop. Old Turkey’s just ignore the market for the next 4-5 years. Full Story
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