Gold dipped $9.35 to $1212.45 in London, but it then climbed to as high as $1225.91 in New York and ended with a gain of 0.25%. Silver rose to as high $17.574 and ended with a gain of 0.57%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 May, 2015
New York closed at $1,221.80 up $7.00 over Thursday’s close. Asia took it down to $1,220.10. The LBMA Gold price was set at $1,216.30 up $15.75 over Thursday’s level. The euro equivalent stood at €1,070.78 up €7.36 while the dollar was stronger and the euro weaker at $1.1359 from $1.1423 against the euro. Ahead of New York’s opening, gold was trading lower in London at $1,214.00 and in the euro at €1,068.94. Full Story
- Global gold demand marginally lower but robust – WGC - Gold investment demand surges 63% as jewellery demand falls - German gold demand spikes 20% in first quarter - France, Switzerland and Austria see “double digit” rise in demand - Fear of conflict with Russia, ‘Grexit’ and currency debasement - Indian gold demand rises 15% - Germany knows lessons of history and Weimar hyperinflation Full Story
Gold climbed $12.25 to $1227.05 at about 10:15AM EST before it fell back off in the next hour of trade, but it still ended with a gain of 0.58%. Silver rose to as high as $17.58 and ended with a gain of 1.87%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 May, 2015
New York closed at $1,214.80 up $21.60 over Wednesday’s close. Asia held took it up to $1,218. The LBMA Gold price was set at $1,214.75 up $21.75 over Wednesday’s level. The euro equivalent stood at €1,063.42 up €0.89 while the dollar was 2 cents weaker at $1.1423 up from $1.1225 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,219.60 and in the euro at €1,067.67. Full Story
- McKinsey Institute says global debt is $199 trillion and unsustainable - Total global debt is $27,204 for every person living today - All major economies have “higher levels of borrowing relative to GDP” than in 2007 - 3 risk areas – rising Chinese debt, government and household debt - Debt report ignores U.S. unfunded liabilities of over $100 trillion - Major cause of risky, unprecedented debt levels – QE and ultra loose monetary policies not acknowledged - Risk of new global financial crisis – wealth taxes, currency wars and devaluations and bail-ins Full Story
Gold gained $25.42 to $1218.62 by early afternoon in New York before it chopped back lower in the last two and a half hours of trade, but it still ended with a gain of 1.81%. Silver surged to as high as $17.223 and ended with a gain of 3.45%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 May, 2015
New York closed at $1,193.20 up $9.80 over Tuesday’s close. Asia held it there as did London. The LBMA Gold price was set at $1,193.00 up $8.55 on Tuesday’s level. The euro equivalent stood at €1,062.52 up €1.25 while the dollar was weaker at $1.1225 down from $1.1351 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,194.30 and in the euro at €1,063.92. Full Story
- Silver one of most undervalued assets in world today - Fundamentals for silver market very strong - Total demand for silver outweighed supply by almost 22% last year - Industrial demand set to surge as solar energy projects are expanded - Artificially low prices have forced some mines out of business which may lead to a supply crunch - Smart money including JP Morgan acquiring silver - Silver to outperform assets including gold Full Story
Gold gained $13.38 to $1196.78 by a little after 6AM EST before it chopped back lower at times, but it still ended with a gain of 0.83%. Silver surged to as high as $16.596 and ended with a gain of 1.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 May, 2015
New York closed at $1,183.40 down $5.10 over Monday’s close. Asia took it up $2 ahead of London’s opening with London then holding it there. The LBMA Gold price was set at $1,184.45 down only $0.30 on Monday’s level. The euro equivalent stood at €1,061.27 up €19.35 while the dollar was stronger at $1.1135 down from $1.1351 against the euro. Ahead of New York’s opening, gold was trading higher in London at $1,194.00 and in the euro at €1,061.33. Full Story
- Picasso’s “Les Femme d’Alger” sells for a record $179 million - Most expensive painting ever sold at auction - Hyperinflation in art market as painting appreciated nearly $150 million in 20 years … - Reports in February of the private sale of Gauguin’s “When Will You Marry” for $300 million - Art price volumes doubled since 2009 - As currencies debase super rich seek out stores of value - Gold remains accessible store of value for middle classes Full Story
Gold edged up to $1191.53 by a little after 8AM EST before it dived down to $1179.09 in late morning New York trade, but it then climbed back higher into the close and ended with a loss of just 0.43%. Silver slipped to as low as $16.215 and ended with a loss of 1.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 May, 2015
New York closed at $1,188.50 up $5.60, on Thursday’s level. Asia saw it hold at that level ahead of London’s opening with London then taking it down $4. The LBMA Gold price was set at $1,184.75 up only $1.75 on Friday’s level. The euro equivalent stood at €1,061.27 up €19.35 while the dollar was stronger at $1.1135 down from $1.1351 against the euro. Ahead of New York’s opening, gold was trading slightly higher in London at $1,186.45 and in the euro at €1,063.37. Full Story
- Greece will not be ejected from the EU – Faber on CNBC - Greek default will trigger massive losses for ECB and European banks - Highlights geo-political impetus to keep Greece within EU, NATO fold - Shows strategic geo-political importance of Greece in NATO’s Cold war with Russia - China and Russia’s ever-closer relationship more important than declining UK - “This Is A New World Order” – Dr Faber Full Story
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