Thus these beloved stock markets are extraordinarily dangerous. Best case we are in for a humdinger of a correction, worst case a new cyclical bear. Investors need to short-circuit their own greed and realize their profits before the selloff eradicates them. Speculators should close general-stock longs and start initiating shorts if they haven’t already. The looming major selloff will gut the gullible fools who bought high. Full Story
If the rumors are true that supplies of gold are in short supply, I would imagine the United States will be exported a record amount of gold during the remainder of 2013 ... that is, if there is the available gold to export. Full Story
By: Przemyslaw Radomski, Sunshine Profits - 17 May, 2013
The latest World Gold Council Gold Demand Trends report shows that the gold market is driven by diverse global demand, and the appetite for owning gold jewelry, bars and coins continues to grow. Full Story
This is another manifestation of the war on gold. Central banks and their minion banks have won the recent battles but the finite money par excellence gold and owners of physical gold will again win the war as they have throughout history. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 17 May, 2013
Once this is gone, the gold market will feel the full weight of demand out of Asia. We also remind you that Asian buyers don’t buy or sell because the U.S. economy is avoiding deflation. Only U.S. and perhaps some other developed world institutions do. So once this source of supply dries up, the control of the market moves to the east. Full Story
Silver ETF holdings have yet to follow gold trust funds sharply lower, Natixis notes – primarily because private investors own the former, as opposed to money managers in gold. Full Story
Based on the S&P 500’s brash behavior lately, effortlessly blowing past Hidden Pivot resistance points major and minor, we wrote here recently that the fuse could be lit for a 130-point explosion. That would be equivalent to a Dow move of about 1000 points – a spectacular surge, especially if it were to occur over a period of, not months but weeks. Full Story
The Heva West block consists of 4 contiguous claims adjacent to the west of the Maritime-Cadillac property, currently a 50/50 joint venture between Midland and Agnico-Eagle Mines Limited ("Agnico-Eagle"). The Heva West block covers nearly 1 kilometre along the contact between Pontiac Group sediments and mafic volcanic rocks of the Piché Group and is located less than 1 kilometre south of Agnico-Eagle's Lapa gold mine (2.1 million tonnes in proven and probable reserves at a grade of 6.0 grams per tonne of gold, for 395,000 ounces of gold), which has been in commercial production since May 2009. Full Story
Gold dropped down to $1369.78 at about 4:30AM EST before it rallied back higher for most of the rest of trade, but it still ended with a loss of 0.43%. Silver slipped to as low as $22.12 in Asia, but it then climbed to as high as $22.797 in New York and ended with a gain of 0.71%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 May, 2013
The gold price tumbled again in Asia after New York selling pushed the gold price down to $1,392.70 down $33 from New York ahead of London’s opening today. In London it Fixed at $1,377.00 down $45.25 on yesterday and in the euro at €1,070.01 down €24.5, while the euro was much weaker at €1: $1.2869. Ahead of New York’s opening it stood at $1,376.20 and in the euro at €1,068.93. Full Story
GLOBAL GOLD prices fell further at the start of London trade on Thursday, hitting new 1-month lows beneath $1370 per ounce but leaving gold bars traded in East Asia at record-high premiums. "[Western] investors appear to be tired of gold as a safe haven," says Mitsubishi analyst Jonathan Butler, quoted by Reuters, because "they anticipate the end of loose monetary policies, possibly by the end of this year or maybe early next year." Full Story
There are no surprises in the latest World Gold Council Gold Demand Trends report other than the fact that statistics show global demand for gold in Q1 2013 was on the increase before the COMEX raid on April 15th. This is a clear indication that the fundamentals supporting a strong price for gold in the long term remain and also helps to explain why there was such a shortage of gold bars and coins in the weeks after April 15th. Full Story
By: Manan Somani, Insignia Consultants - 16 May, 2013
Momentum is bearish but oversold conditions are there in gold and silver. Demand from Asia will be the key. Higher demand will limit losses in gold and silver. ETF outflows are still there. The US dollar will be the key in the absence of any news. The fall in US industrial production failed to lift gold and silver prices. Better to remain on the sidelines today. Full Story
Gold fell to as low as $1389.60 at about 3:40PM EST before it bounced back higher in the last 20 minutes of trade, but it still ended with a loss of 2.29%. Silver slumped to as low as $22.50 and ended with a loss of 3.55%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 May, 2013
The gold price closed at $1,425.4 down $6 in New York yesterday. In Asia, gold weakened to $1,413 then in London it Fixed at $1,412.25 down $24.25 on yesterday and in the euro at €1,094.513 down €9, while the euro was much weaker at €1: $1.2903. It then quickly fell to €1: $1.2883. Ahead of New York’s opening it stood at $1,411.55 and in the euro at €1,095.67. Full Story
WHOLESALE gold bullion prices fell to three week lows around $1410 an ounce Wednesday, as European stock markets ticked higher, reversing earlier losses following disappointing Eurozone growth data. Gold in Euros fell as low as €1094 an ounce, while gold in Sterling fell below £930 an ounce. Full Story
On Tuesday 14th May, workers at Lonmin PLC, the world’s No. 3 platinum producer in South Africa began a wildcat strike. This caused immediate disruption of all mine production and led to concerns that South Africa was yet again to endure violence and disruption in its mining industry. Full Story
By: Manan Somani, Insignia Consultants - 15 May, 2013
Technically gold and silver are looking bearish. Copper and crude oil are in a neutral zone. Gold needs to trade over $1422 (on daily closing basis) to prevent another big sell off. Silver needs to trade over $2290 (on daily closing basis) to prevent another big sell off. US dollar – Japanese yen continues to trade over 102 suggesting more weakness for the pair. There will be long covering if gold falls today. Full Story
Gold climbed $14 to $1445.40 in Asia before it fell back to $1421.48 by a little after 8:30AM EST and then bounced back higher at times in New York, but it still ended with a loss of 0.42%. Silver slipped to as low as $23.129 and ended with a loss of 1.02%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 May, 2013
The gold price closed at $1,431.40 in New York yesterday. In Asia, gold recovered slightly to over $1,441 then in London it slipped to $1,434 until the Fix which was set at $1,436.50 up $6.75 on yesterday and in the euro at €1,103.472 up only €1 while the euro was much weaker at €1: $1.3018. Ahead of New York’s opening it stood at $1,429.00 and in the euro at €1,102.96. Full Story
SPOT GOLD fell towards three-week lows Tuesday, dropping as low as $1423 per ounce, as the Euro also fell against the Dollar after comments from those attending today's Eurozone finance ministers' meeting appeared to show disagreement over the creation of a banking union. Full Story
The European Union will today meet to discuss and move forward the proposal to ‘bail-in’ depositors with savings of over €100,000 as part of future bank wind-downs. It now looks likely that the EU is going to take unprecedented steps to sequester monies from its citizens in the event of future bank failures. Full Story
By: Manan Somani, Insignia Consultants - 14 May, 2013
The reserve bank of India yesterday has stopped gold imports in India. Gold importers can still buy gold from banks however the payment has to be done by cheque and gold sales have to be done by cheque. In India most of jewelers and gold importers pay by way of cash deposits to bank as most of the sales are by cash only. This will reduce gold imports but at the same time aid unauthorized channels of gold imports. Only cash gold premiums will zoom in India in a big way. Full Story
Gold fell to as low as $1426.90 at about 6AM EST before it bounced back higher in New York, but it still ended with a loss of 0.82%. Silver slipped to as low as $23.523 ended with a loss of 0.8%. Full Story
While June gold was able to hold up above the Friday low in the early trade, prices were under some pressure and seemingly poised to retest the recent lows. Adverse currency market action, discouraging global economic sentiment and somewhat negative analyst dialogue on gold, has seemingly left gold prices on a back footing in the early trade today. While gold could have been lifted by news of a sharp increase in Indian gold imports for the month of April, the market might see that news as old news that was associated with the very sharp April slide in gold prices. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 May, 2013
The pm Fix in London was set at $1,426.50, which was the lowest price of the day $16 in New York on Friday. In Asia, gold recovered slightly to over $1,431 where it held until the Fix which was set at $1,429.75 down another $19.50 on Friday and in the euro at €1,102.522 down only €11.50 while the euro was much weaker at €1: $1.2968. Ahead of New York’s opening it stood at $1,433.00 and in the euro at €1,103.41. Full Story
SPOT MARKET gold bullion prices fell to $1430 an ounce Monday, 1.2% down on where they ended last week, as stock markets also fell and the US Dollar held onto most of its gains from last week. Silver fell to $23.70 an ounce – 0.8% down on last week's close – as other commodities also fell, with the exception of copper. Full Story
Driving the sentiment was the report that U.S. jobless benefits decreased to their lowest rate since 2007. Philadelphia Fed President Charles Plosser forecasted that day unemployment will drop to 7% by December 2013 and he favours reducing the Fed’s $85 billion monthly bond purchases next month. Plosser however has no vote on Fed policy this year. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
