Gold fell $13.85 to $1131.25 by late morning in New York before it bounced back higher in early afternoon trade, but it still ended with a loss of 0.98%. Silver slipped to as low as $14.855 and ended with a loss of 0.8%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 July, 2015
New York closed at $1,145.10 down $4.20 with Asia and London holding it there in line with the moves in the dollar against the euro. The dollar was stronger at $1.089 up from $1.0934 against the euro with the dollar Index at 97.54 up from 97.27. The LBMA gold price was set this morning at $1,143.00 down $2.10 again, in reaction to the rising dollar. The euro equivalent was €1,049.39 down €1.69. Ahead of New York’s opening, gold was trading in London at $1,144.30 and in the euro at €1,050.54. Full Story
- Recent events in Greece have undermined trust in the EU - Sentiment towards gold cannot get much worse - Increase in interest and demand for gold recently - Elephant in room is manipulated gold and silver market - Will sharp slowdown in China see fall or rise in gold demand? - Gold served its function as safe haven in recent months - History shows that gold prices rise with interest rates - Gold has performed well in most currencies this year Full Story
I still perceive that the Federal Reserve is crying wolf over a US interest rate hike. A US interest rate hike (if any) will be more of a political move than an economic move. Chinese economic pains are US political gains. Americans are spending more by debit card than by credit card. Americans have realized that a higher savings rate is necessary. American employment rate will be high. But Americans will spend less. Low consumer spending can result in Federal Reserve postponing the interest rate hike to the first quarter of next year. Full Story
Gold fell $6.55 to $1142.75 by a little after 8AM EST before it bounced back higher in New York, but it still ended with a loss of 0.37%. Silver slipped to as low as $14.918 and ended with a loss of 0.66%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 July, 2015
New York closed at $1,149.30 down $5.90 with Asia and London taking it $2 lower. The dollar was stronger at $1.0934 down from $1.1011 against the euro with the dollar Index at 97.27 up from 96.66 before London opened. The LBMA gold price was set this morning at $1,145.10 down $9.65 in reaction to the rising dollar. The euro equivalent was €1,051.08 up €3.55. Ahead of New York’s opening, gold was trading in London at $1,145.20 and in the euro at €1,051.32. Full Story
- Euro is one recession away from implosion – David McWilliams - Mismanagement of euro “both laughable and terrifying” - “When economic negotiations stop making economic sense, you should begin to question the motives of the EU” - Germany is out of control - Successful British exit will be model for other countries - Euro membership is now conditional - “Countries that don’t play ball with Germany will see their banking system used against their democratically elected politicians” - Investors and savers need “PLAN B” Full Story
Gold fell $10.11 to $1145.09 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.51%. Silver slipped to as low as $15.014 and ended with a loss of 1.76%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 July, 2015
New York closed at $1,155.20 down $2.70 with Asia and London holding it there. The dollar was weaker at $1,1011 down from $1.0992 against the euro with the dollar Index at 96.66 down from 96.94 before London opened. The LBMA gold price was set this morning at $1,154.75 up $1.55. The euro equivalent was €1,047.53 up €2.02. Ahead of New York’s opening, gold was trading in London at $1,155.00 and in the euro at €1,047.90. Full Story
- Is the apparent calm of the West a signal of latent instability? - Increasing symptoms of instability in West as proposed by Nassim Taleb - Wider public and mainstream press believe “experts” have everything under control - Black Swan approaches and we may be experiencing “the calm before the storm” Full Story
Gold dipped $4.87 to $1153.03 in London before it bounced back to $1159.63 at about 9:20AM EST and then drifted back lower again, but it ended with a loss of just 0.23%. Silver slipped to as low as $15.282 and ended with a loss of 0.77%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 July, 2015
New York closed at $1,157.90 down $5.10 with Asia and London taking it down to $1,155. The dollar was stronger at $1,0992 up from $1.1147 against the euro with the dollar Index at 96.94 up from 95.87 before London opened. The LBMA gold price was set this morning at $1,153.20 down $1.75. The euro equivalent was €1,045.51 down €2.38. Ahead of New York’s opening, gold was trading in London at $1,154.00 and in the euro at €1,046.14. Full Story
- Greek capital controls also prevent access to contents of safe deposit boxes - Restrictions on safe deposit access doesn’t protect banking system unless contents confiscated - Readers should heed warnings by Marc Faber and Ian Spreadbury of Fidelity - Important to own assets outside banking system and not in bank safe deposit boxes - Own physical bullion in private safety deposit boxes and the safest private vaults Full Story
Gold fell $11.80 to $1151.20 at about 9:20AM EST before it bounced back higher into midday, but it still ended with a loss of 0.44%. Silver slipped to as low as $15.325 and ended with a loss of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 July, 2015
New York closed at $1,163.00 up $0.60 with Asia and London taking it down to $1,160. The dollar was weaker at $1,1147 down from $1.1140 against the euro with the dollar Index at 9587 down from 96.11. The LBMA gold price was set this morning at $1,154.95 down $7.45. The euro equivalent was €1,043 13 down €4.86. Ahead of New York’s opening, gold was trading in London at $1,156.80 and in the euro at €1,044.66. Full Story
- Silver imports into U.S. surge 33% - Silver Eagle demand very robust - Silver Eagles and Maples see 25% surge in premiums and shortages - Silver price falls over 3.8% on same day as U.S. Mint runs out of silver eagles - Total ETF Silver holdings remain robust – over 500 million ounces - Increase in demand seems to becoming from large entities buying bars - Silver is great value sub $20 per ounce Full Story
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