By: Chris Mullen, Gold-Seeker.com - 16 December, 2016
Gold gained $8.64 to $1136.04 in London before it fell back to $1127.80 at about 11AM EST, but it then jumped up to $1141.03 in the next hour of trade and ended with a gain of 0.54%. Silver rose to as high as $16.25 and ended with a gain of 0.56%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 December, 2016
Shanghai prices fell around 1% today, after New York’s fall of 1.3% signalling a calmer market despite the fall caused by ongoing ETF sales. When translating Yuan prices into the dollar equivalent we see the ‘discount’ of New York to Shanghai prices rising to $44.19 the highest ever seen. Against London’s opening of $1,133.85 the London ‘discount’ was $38.19, again the highest we have ever seen. Once again this is accounted for by the dollar’s ongoing strength. Full Story
As the great orator George Bush Junior once attempted to say: “Fool me once, shame on you; fool me twice, shame on me…” One of the world’s leading investors, Mark Mobius told a gold conference in Dubai that the new ‘Shariah Gold Standard’ is both “innovative and revolutionary” and importantly will bring “transparency” to the physical gold market which suffers from a lack of trust. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 December, 2016
Gold fell $19.72 to $1122.88 in late morning New York trade before it bounced back higher in early afternoon trade, but it still ended with a loss of 1.33%. Silver slipped to as low as $15.879 and ended with a loss of 4.76%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 December, 2016
Shanghai prices held $33.94 higher levels than prices in New York. London opened at a higher discount to Shanghai of $39.74. In the last day London and New York gold prices have dropped in the dollar around 11% whereas Shanghai gold prices in the Yuan have dropped only 0.5%. This is an important point, we feel pointing to volatility in London and New York continuing then doing so both ways. i.e. Shanghai is implying that gold prices are falling too far too fast, despite the rising dollar. Full Story
The Federal Reserve increased interest rates by 0.25% as expected yesterday leading to gold falling to lows last seen in February 2016 and the dollar rising to its highest level against the euro in 14 years. Gold actually settled higher at $1,163.70 for the day yesterday. However gold futures slid to $1,156.70 an ounce in electronic trading on the rate decision at 1400 EST and soon gold was pushed down 1.3% to 10 month lows after the decision in less liquid after hour markets. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 December, 2016
Gold gained $6.32 to $1164.92 in early New York trade, but it then fell markedly after the fed announced an expected interest rate hike and ended near its last minute low of $1139.65 with a loss of 1.38%. Silver slipped to as low $16.745 and ended with a loss of 0.65%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 December, 2016
It is again reported that the requirement for importing gold into China is a ‘licence for each batch’ of gold imported. Yes, the PBoC can restrain these licenses to limit imports, but it is unlikely that they would hold back such licenses. There is no confirmation of the refusal to issue licenses by the PBoC to gold importers, so we would question such control until there is evidence. Full Story
One of the world’s leading investors, Mark Mobius told a gold conference in Dubai that the new ‘Shariah Gold Standard’ is both “innovative and revolutionary” and importantly will bring “transparency” to the physical gold market which suffers from a lack of trust. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 December, 2016
Gold dipped to $1157.68 in London before it edged up to $1163.46 at about 8:30AM EST, but it then fell back to $1154.62 in the next 90 minutes of trade and ended with a loss of 0.31%. Silver slipped to as low as $16.77 and ended with a loss of 0.94%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 December, 2016
The fall in the gold price halted yesterday as the volume of sales from U.S. based gold ETFs became small. We have not seen a rally since the gold price broke down through $1,210 so one is overdue. But we expect to see no change in trend until the ‘honeymoon’ with Trump is over. That could be early in his Presidency as he is alienating his own party as well as many nations across the world. Until then, while we are seeing a bear market in bonds, a bear market in equities is yet to begin. When it comes, not a few eyes will be watering. Full Story
Since 2003, we have believed and written about how the silver and gold markets are manipulated and “fixed” by banks. Even then there was circumstantial evidence to suggest this was the case. Now we have definitive proof and the smoking gun that the “silver market mafia” in the form of leading bullion banks – such as Deutsche Bank, UBS and HSBC – were coordinating the manipulation of the price of silver and suppressing prices as alleged by the Gold Anti Trust Action Commitee (GATA). Full Story
By: Chris Mullen, Gold-Seeker.com - 12 December, 2016
Gold fell $7.47 to $1151.53 in Asia before it climbed up to $1165.65 in early afternoon New York trade and then drifted back lower in the last few hours, but it still ended with a gain of 0.28%. Silver rose to as high as $17.191 and ended with a gain of 1.31%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 December, 2016
While Shanghai prices fell, they did not follow New York leaving New York at a higher discount to Shanghai of $29.21. London opened at a higher discount to Shanghai of $33.21. This further emphasizes that the two markets are structurally different to each other. The physically settled Shanghai transactions and the paper transactions of New York and London. The London OTC [over the counter] markets is one where well over 95% of transactions are closed out before maturity. Full Story
The bout of euro strength we have seen in recent months is unsustainable and will in time give way to the euro weakening against gold. Gold will again hedge and protect investors and savers in the EU from euro weakness as it did during the financial crisis. The dollar has had a massive rally and looks overvalued versus most currencies and indeed gold. U.S. assets have increasingly poor fundamentals and both U.S. stocks and bonds look vulnerable to sharp corrections and new bear markets. Full Story
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