By: Chris Mullen, Gold-Seeker.com - 16 September, 2016
Gold edged up to $1316.08 in Asia before it chopped down to $1306.75 in midmorning New York trade and then bounced back higher at times, but it still ended with a loss of 0.24%. Silver slipped to as low as $18.676 and ended with a loss of 1.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 September, 2016
The gold price is drifting assisted by a steady stream of selling from the SPDR gold ETF in the last week. These sales do seem to be aiming at lowering prices. It is a great opportunity for bears insofar as a short position taken on COMEX of a larger size than the physical sales ensures profits on the falls. This is what’s happening now. But the drifting nature of the gold price could be turned back just as fast buy a large buy order. Full Story
The high level of non-performing loans (NPLs) has been a problem since before Brexit. It is clear that there is nothing in the Italian economy that can reduce them. Only a dramatic improvement in the economy would make it possible to repay these loans. And Europe’s economy cannot improve drastically enough to help. We have been in crisis for quite a while. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 September, 2016
Gold chopped around a $7 range on either side of unchanged in Asia before it dropped down to $1309.46 by a little after 10AM EST and then bounced back to almost unchanged at $1321.18 in the next hour of trade, but it then drifted back lower in afternoon trade and ended with a loss of 0.65%. Silver climbed up to $19.129 before it dropped back to $18.823, but it then rallied back higher in late morning trade and ended with a gain of 0.11%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 September, 2016
With Shanghai on holiday today and another holiday coming in the next few days London and New York are making the prices of gold and silver. Gold in London is drifting alongside the Technical picture. The Technical picture is negative but with such strong support below current levels and below $1,300, we are doubtful that it will have more influence than it currently has in a market that is ‘drifting’. Full Story
Speaking at the CNBC Delivering Alpha Conference, the respected hedge fund manager, Singer said he favours a diversification into gold right now. He thinks that gold is “underrepresented in many portfolios as the only money and store of value that has stood the test of time.” He added that at current prices gold is “undervalued.” For Singer, the founder of the $27 billion Elliott Management, owning gold is “opposite confidence in central banks” who have made the bond market “the biggest bubble in the world.” Full Story
The direction of the US dollar will affect bullion. Gold and silver are still not out of the bear shadow. However one needs to look for signs of a trend reversal. Investor sentiment in gold and silver in Asia is getting bearish. Medium term gold investors in Asia (in my view) have postponed their gold investments on expectation of a sub $1000 after the US presidential elections. However I still expect gold and silver to restart another bull run after the FOMC meet next week. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 September, 2016
Gold gained $7.51 to $1325.51 by late morning in New York before it chopped back lower in early afternoon trade, but it still ended with a gain of 0.35%. Silver climbed to as high as $19.118 and ended with a gain of 0.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 September, 2016
Shanghai went $7 higher than New York but London pulled it back but not far. This is the second day that we have seen pricing in Shanghai separating itself from New York. London’s pricing seems to respect Shanghai and could be asking the same question. Exchange rates appear to have a key influence on prices at the moment. Full Story
Cook: What’s happening in the silver market is hard to understand right now. Can you simplify it for us? Butler: First you must understand the price of silver is set on the COMEX by two large opposing forces. On the short side are the big banks or traders led by JPMorgan. Four of these big traders are short 72% of the total commercial short position. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 September, 2016
Gold gained $5.02 to $1332.02 in Asia, but it then fell back off in New York and ended near its late session low of $1315.66 with a loss of 0.68%. Silver slipped to as low as $18.792 and ended with a loss of 1.36%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 September, 2016
Shanghai went $6 higher than New York and London followed this price at the opening before pulling back to New York’s close at the LBMA price setting. We are watching to see if this is the start of pricing in Shanghai separating itself from New York. London’s pricing seems to respect Shanghai and could be asking the same question. Full Story
In this publication, we warn regularly of the risk involved in storing wealth in banks. They’ve made the removal of your deposits increasingly difficult in addition to colluding with governments to allow them to legally freeze or confiscate your money. To add insult to injury, they’re creating reporting requirements with regard to the contents of safe deposit boxes and restricting what can be stored in them – again, at risk of confiscation. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 September, 2016
Gold edged up to $1330.17 in Asia before it fell back to $1320.94 in early afternoon New York trade and then bounced back higher in the next couple of hours, but it still ended with a loss of 0.14%. Silver slipped to as low as $18.714 before it climbed up to $19.172 and then chopped back lower, but it still ended with a gain of 0.31%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 September, 2016
Shanghai has always been keen to go higher than London and New York. This is not because there is a shortage of gold, waiting for imports using premiums to attract it to the country. China’s supply from outside describes its huge appetite, which is continuing. Shanghai continues to try to keep its prices in line with other global gold market. Full Story
Global stocks and bonds fell the most since the Brexit panic today as recently dormant volatility came back with a vengeance. There are deepening concerns that global central banks’ ultra loose monetary policies have been ineffectual and may indeed be creating asset bubbles in stock, bond and indeed property markets internationally. Full Story
Technically gold and silver are bearish and need to trade over $1319 and $1830 this week to continue in a bullish zone. A big crash will be there only if gold trades below $1319 and silver trades below $1830. Next week is the FOMC meet. Interest rates are not expected to be raised. One should use sharp dips (till the FOMC meet) in gold, silver and copper to invest for next month. The only risk to the bullish view is an interest rate hike is done or green shoots are said over the state of the US economy. Full Story
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