Investors’ interest in silver is starting to rebound after last year’s carnage. As capital prepares to return to this beaten-down asset, many investors are wondering how to game silver price action. Gold is the key. The white metal closely mirrors and amplifies the price action in the yellow one. Gold is not only silver’s primary driver, but its overwhelmingly dominant one. Gold is critical for timing silver buying and selling. Full Story
Eric Sprott provides valuable insight in this transcribed interview with Mining MarketWatch Journal, shedding light on various issues including physical supply imbalances, paper market distortions, macro economic fundamentals, and global demand forces in play that will be key drivers in 2014. Eric Sprott also discusses the opportunities setting up for the majority of precious metal equities as gold makes a drive over $2,000/oz and silver over $50/oz; Full Story
Deutsche Bank announced today that it will withdraw from gold and silver benchmark setting, or the London gold fix process but remains “fully committed to our precious metals business.” Full Story
Setting this issue aside, let us stipulate what exactly this taper is all about. The tapering is not with the big “T”, not as many saw it. Is it a big cut, reversal, backing out from the previous expansionary policies? The buying program is still firmly in place and looks as expansionary as before. Actually it is more expansionary than it was in the significant part of the years 2011 and 2012, when the balance sheet was frozen. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 17 January, 2014
After the Volker rule prevented banks from trading on the capital with them, the same is now being proposed in Europe. But we do not expect binding laws to be enacted before 2018. Whether Europe can agree on that after the struggle they have had with defining bad debt across the Eurozone remains to be seen. If they are able to do this then we would expect markets and precious metal prices to lose a considerable degree of the volatility they experience at present. But that prospect remains five years away still. Full Story
There is no need to beat around the bush. Junior mining stocks have bottomed. The bear market is over. Sure we could be wrong. We’ve been wrong before and will be again. However, the evidence is too compelling and is growing by the day. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 16 January, 2014
We have pointed to global economic situations becoming “mercurial” in time. We caught a glimpse of why, yesterday. The I.M.F. has warned of deflation coming this year. This is a nightmare for governments because it is far more difficult to control than inflation. Deflation, however, has been a constant threat since the credit crunch and insufficient growth and recovery has been seen to dismiss such fears. Full Story
COMEX gold stocks have fallen to new record lows (see chart) showing demand for physical bullion remains very robust. Indeed, the scale of the fall in COMEX gold stocks since 2007 and which accelerated in early April 2013 is important to note. Full Story
Gold and silver will break free from the recent consolidation phase of $1220/$1260 and $1950/$2080 range and form a new range. Higher crude oil prices should prevent big crashes in gold and silver prices for now. Economic data releases from across the globe has not had a big impact on gold and silver. The world knows that Chinese are buyers in gold at lower prices before their New Year. I personally do not think that traders will allow Chinese to buy gold at lower prices. Strong Chinese gold demand is a must for any big ticket rise in gold prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 January, 2014
Gold fell $9 to $1234.40 at about 9:30AM EST before it bounced back higher in late morning New York trade and then edged back lower in early afternoon trade, but it then rallied back higher in the last 100 minutes of trade and ended with a loss of just 0.23%. Silver slipped to as low as $19.949 at one point, but it then rallied back to as high as $20.21 and ended with a loss of just 0.2%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 January, 2014
On Tuesday the gold price in New York fell to close at $1,243.40 with Asia taking it $3 lower. The dollar is slightly stronger at $1.3639: €1 ahead of London’s opening. In London the gold price was Fixed at $1,238.00 down $10.75 on yesterday. In the euro it, Fixed at €908.557 down €4.54. Ahead of the opening in New York gold stood at $1,238.15 and in the euro at €909.07. The dollar stood at $1.3622: €1 Full Story
China has granted licenses to import gold to two non Chinese banks for the first time, according to Reuters. The move to take advantage of the largest gold consumers is gathering pace. China's gold imports more than doubled last year to over 1,000 tonnes - ousting India as the biggest buyer - as demand soared to unprecedented levels. Full Story
A mini double top has been formed around $1255 which suggests that gold can fall back to $1216 and below if it does not break $1255 by tomorrow. It is too early to give a firm view. But once again extra caution should be used in all intraday positions. Copper is looking bearish as an uptick in the US economy has failed to attract investor interest. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 January, 2014
Gold fell $7.55 to $1247.25 by about 7:30AM EST before it rebounded to $1254.71 in the next few hours of trade, but it then dropped to a new session low of $1241.75 in afternoon trade and ended with a loss of 0.91%. Silver climbed to as high as $20.594 at one point, but it then dropped back to as low as $20.153 and ended with a loss of 1.27%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 January, 2014
On Friday the gold price in New York rose to close at $1,254.80 with Asia holding it around that level. The dollar is almost unchanged at $1.3664: €1 ahead of London’s opening. In London the gold price was Fixed at $1,248.75 up $2.75 on yesterday. In the euro it, Fixed at €913.0961.885 up €1.211. Ahead of the opening in New York gold stood at $1,248.30 and in the euro at €912.43. The dollar stood at $1.3683: €1 Full Story
Gold is marginally lower today but remains near its highest in a month. Safe haven buying has increased after a drop in equities globally due to concerns over the U.S. economy after a disappointing jobs report last week. Increasing demand for U.S. silver coins is set to send premiums to the highest since October according to Bloomberg. The premium charged by wholesale dealers for American Eagle coins from the U.S. Mint may rise from 14%. The mint has said that weekly allocations will be reduced despite very strong demand so far this month. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 January, 2014
Gold climbed $6.27 to $1253.37 in Asia before it fell back to $1243.69 at about 8:15AM EST, but it then rose to as high as $1255.00 in New York and ended with a gain of 0.62%. Silver surged to as high as $20.46 and ended with a gain of 1.59%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 January, 2014
On Friday the gold price in New York rose to close at $1,247.10 with Asia lifting it to $1,251.55. The dollar weaker at $1.3673: €1 ahead of London’s opening. In London the gold price was Fixed at $1,246.00 up $13.75 on Friday. In the euro it, Fixed at €911.885 up nearly €5.30. Ahead of the opening in New York gold stood at $1,246.45 and in the euro at €912.08. The dollar stood at $1.3666: €1 Full Story
The Perth Mint's Bron Suchecki has written an interested blog post regarding the real risk of gold coin shortages and rationing happening again: The extraordinary demand for precious metals coins following the 2008 global financial crisis caught the minting industry by surprise, resulting in never before seen coin rationing and shortages. It seems not much has changed, with recent reports that the UK Royal Mint ran out of 2014 Sovereign gold coins due to "exceptional demand", as well as the continuation for over one year of an allocation program first put into place early 2013 by the US Mint on its ever popular silver Eagle bullion coins. Full Story
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