By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 August, 2013
New York closed at $1,362.90 up $27.90. Asia took it to $1,366.00. London then pulled it back to $1,360 before it Fixed in London at $1,360.75 up $21.25 and in the euro at €1,020.558 up nearly €12.50. Ahead of New York’s opening gold was at $1,362.15 and in the euro at €1,020.95. Full Story
Gold and silver inched down today on profit taking after their respective 3.7% and 11.85% gains seen this week. Gold surged through resistance at the $1,340/oz level yesterday. The next level of resistance is between $1,400/oz and $1,423/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 August, 2013
Gold rose $11.04 to $1346.04 in Asia before it fell to see a $16.01 loss at $1318.99 after this morning jobs data was released, but it then rallied back higher throughout most of the rest of trade and ended near its midafternoon high of $1369.59 with a gain of 2.09%. Silver climbed to $22.171 in Asia before it fell to as low as $21.71 at about 9AM EST, but it then rose to as high as $23.171 and ended with a gain of 4.99%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 August, 2013
New York closed at $1,335.00 up $13.30. Asia took it to $1,339.00. It then Fixed in London at $1,339.50 up $16.25 and in the euro at €1,008.052 up nearly €9.00. Ahead of New York’s opening gold was at $1,338.90 and in the euro at €1,007.90. Full Story
Gold prices in India have risen this week, extending gains past their highest level in four months, due to the import duty hike and rupee weakness. India’s consumption of gold rose to 310 tonnes in the second quarter ended June, highest in the last 10 years, despite government curbs to restrict imports to rein in the burgeoning current account deficit. Contrary to expectations that gold imports may fall, India's appetite for bullion may pick-up later in the year due to seasonal demand. Analysts say this could increase further illegal gold supply into India. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 August, 2013
Gold fell to $1315.70 in Asia before it rebounded to $1327.00 at about 5AM EST and then dropped back to $1319.00 in the next four and half hours of trade, but it then jumped to as high as $1335.86 in New York and ended with a gain of 1.01%. Silver surged to as high as $21.851 and ended with a gain of 1.82%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 August, 2013
New York closed at $1,321.70 down $14.20 after rising $23.30 the day before. Asia held it there before London pulled it back up to trade at $1,324 ahead of the Fix. It then Fixed in London at $1,323.25 down $1.50 and in the euro at €999.056 up nearly €2.00. Ahead of New York’s opening gold was at $1,325.90 and in the euro at €1,000.83. Full Story
Gold has crept higher in all currencies today and is particularly strong in Swiss francs which has come under pressure after the a report showed the Eurozone pulled out of recession last quarter. While German and French gross domestic product exceeded analysts forecasts, it is premature to become over excited about a recovery in the Eurozone which remains in a very precarious state. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 August, 2013
Gold rose $5.39 to $1341.29 at about 3AM EST before it fell back to as low as $1318.70 in late morning New York trade, but it then edged back higher in afternoon trade and ended with a loss of just 1.06%. Silver slipped to $21.18 in Asia before it jumped up to $21.765 and then fell back off in London and New York, but it still ended with a gain of 0.52%. Full Story
Gold bullion is marginally lower in all currencies today after yesterday's gains as markets await U.S. economic data releases. Indians purchased more gold in July than June in spite of the governments efforts to curb supplies and increase tariffs. Yet the Indian government, is doubling down in their desperate, some would say futile, attempts to curb the people of India’s preference to save in gold. Full Story
US retail sale numbers will be the key. Only a number below expectation or any signal of stabilization in US retail sales will result in further gains for gold and silver. One needs to be wary as there can be profit taking in gold and silver before the release of the US retail sale numbers. We are against going long in gold and silver till the US retail sale numbers are released. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 August, 2013
Gold rose over $20 in Asia before it fell back to $1322.60 in London, but it then climbed to as high as $1343.30 in New York and ended with a gain of 1.77%. Silver surged to as high as $21.451 and ended with a gain of 4.3%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 August, 2013
New York closed at $1,312.60 up $0.10 on Friday. Asia took it up to $1,331 before London pulled it back to trade at $1,327 ahead of the Fix. It then Fixed in London at $1,325.75 up $20.00 and in the euro at €997.404 up nearly €22.00. Ahead of New York’s opening gold was at $1,326.40 and in the euro at €998.34. Full Story
Gold surged $20 or 1.5% on the open in Asia overnight prior to determined selling was seen to cap prices at the $1,335/oz level. Gold rose strongly through recent resistance at $1,320/oz and the next levels of resistance are at $1,340/oz and $1,350/oz. Support is at the recent low at $1,275/oz. Full Story
The fall in Japanese second quarter GDP below expectations will result in more demand for gold and other safe havens from Japan. There is still firm demand of gold and silver from China and other East Asian nations. This will result in continued physical demand of gold from most parts of Asia. Full Story
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