By: Chris Mullen, Gold-Seeker.com - 15 April, 2016
Gold saw decent gains in Asia and London before it fell back towards unchanged by midmorning in New York, but it then rose to a new session high of $1234.84 in early afternoon trade and ended with a gain of 0.67%. Silver rose to as high as $16.354 and ended with a gain of 0.62%. Full Story
As Central Banks continue to prop up the financial system with massive monetary printing, the death of paper money grows closer each passing day. While it is true that the Fed and Central Banks have been able to postpone the day of reckoning much longer than most precious metals investors imagined, the inevitable collapse of the fiat monetary system will turn out to be much worse. Full Story
The gold settlement was disclosed on Thursday, and the silver settlement on Wednesday. Terms were not disclosed, but both settlements will include monetary payments by the German bank. Deutsche Bank also agreed to help the plaintiffs pursue claims against other defendants. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 15 April, 2016
We have seen reports that the price will be smoothed out by arbitrageurs, but this ignores the fact that exports of gold are not permitted from China, while imports are. So gold can be bought in London and New York by Asia but the reverse cannot happen. But we are of the opinion that China can provide a smoothing out ‘facility’. The acceptance of the Chinese Bank ICBC as a London ‘market maker’ means that it will be both a buyer and a seller of gold [and has been so for more than three months to date]. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 April, 2016
Gold dropped down to $1230.05 in early Asian trade before it bounced back to $1243.84 by about 4AM EST, but it then fell back off again for most of the rest of the day and ended near its late session low of $1223.84 with a loss of 1.41%. Silver slipped to $15.904 before it rallied back to $16.243 and then also fell back off, but it ended with a loss of just 0.62%. Full Story
Gold has had one heck of run this year, being one of the best performers in the commodity market.
There are many reasons for this, but what’s important to me is that the rally has defied what was expected. Do you recall Goldman’s call for $1000 an ounce at the beginning of the year? Full Story
By: Julian D. W. Phillips, Gold Forecaster - 14 April, 2016
We are hearing opinions that the Shanghai gold Fix will not affect global gold prices and will continue to follow New York. How long it takes before pricing power is shifted to Shanghai we cannot say, but in the meantime we would expect volatility to subside in the Yuan gold price. With the Chinese authorities wanting a stable Yuan at the moment that price will see far less volatility than the dollar price. Gold will move to reflect currency moves more precisely than today. Today, it seems to be moved in the euro, whereas last week it moved with the dollar. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 April, 2016
Gold dropped down to $1239.94 in London before it bounced back above $1250 in early New York trade, but it then drifted back lower into the close and ended with a loss of 1.05%. Silver slipped to as low as $15.995 in London, but it then climbed up to as high as $16.306 in New York and ended with a gain of 0.37%. Full Story
What is interesting is that all three charts seem to be setting up for a rally in the upcoming week, with silver seeing a potential wave 2 rally, whereas GLD and GDX needing a (c) wave in a b-wave rally. These should be followed by a strong decline in all 3 charts in the coming weeks, with silver seeming as though it is the only chart set up for a lower low, that is, as long as remains below 16.18 on the coming rally. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 13 April, 2016
Reports of the leading U.S. institutions turning bullish on gold continue across the board targeting as much as $1,500. The prime driver they record is the Technical picture. We do not argue with that, but add that there are several other factors that will contribute to the rise in the price of gold. Renewed Indian demand and next week’s Yuan gold Fix will contribute be among those adding to the bullish tone of the market. Full Story
HSBC, JP Morgan Chase, Bank of America Merrill Lynch, ABN Amro, UBS, Deutsche Bank, PIMCO and BlackRock head a growing number of investment houses that are recommending an allocation to gold today. Indeed, the world’s largest reinsurer Munich Re is buying gold. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 April, 2016
Gold gained $6.35 to $1262.45 in Asia before it fell back to $1251.17 by midmorning in New York, but it then bounced back higher into the close and ended with a gain of 0.02%. Silver rose to as high as $16.207 and ended with a gain of 1.7%. Full Story
June Gold has pushed above a minor target at 1258.80, implying the futures are being driven by an ABC rally pattern of larger degree. If so, there are two immediate possibilities: 1) a little more upside to the 1265.70 target shown; or if it is easily brushed aside, 2) a run-up to the 1292.50 target of the bull cycle begun on February 22 from 1203.00. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 12 April, 2016
Once again most investors appear to be surprised and expect a rally in the dollar. Many rely on the potential two interest rate hikes expected this year [despite the possibility of no interest rate hikes this year] to take the dollar higher in the belief this will give value to the dollar. Those in the ‘carry’ trade may well disagree strongly with this. After all when you look at the peak in the dollar of 100 and at current levels, what benefit in getting an annual extra half a percent if you lose 8% of your capital at least? Full Story
Silver bullion prices surged 3.65% yesterday and have surged 8% in just six trading days. Silver rose 56 cents from $15.34 to $15.90 per ounce yesterday, made further gains in Asian and early European trading and broke above the psychological resistance of $16 per ounce. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 April, 2016
Gold gained $19.12 to $1258.62 by late morning in New York before it edged back lower in afternoon trade, but it still ended with a gain of 1.34%. Silver rose to as high as $15.962 and ended with a gain of 3.65%. Full Story
Bank bail-ins in the EU are here after Austria’s financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the bank Heta Asset Resolution will receive less than half of their money back according to the country’s financial regulator, the FMA. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 11 April, 2016
India – The government of India has formed a sub-committee under former Chief Economic Advisor Ashok Lahiri to study the imposition of the 1% sales tax on gold and silver in addition to the existing 10% already imposed and come up with suggestions. The jeweler’s strike is now completing its first month with no sign of respite. We don’t think anything will change because now, the Central Board of Excise and Customs (CBEC), has imposed 15% ad valorem duty on several items including gold and silver that are brought into the country by travellers. Full Story
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