By: Chris Mullen, Gold-Seeker.com - 17 August, 2012
Gold climbed up to $1619.56 in early New York trade before it chopped back lower midday, but it still ended with a gain of 0.12%. Silver climbed up to $28.336 at about 9AM EST, but it then drifted back lower into the close and ended with a loss of 0.43%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 August, 2012
New York gold closed at $1,614.00 up $9.90. Asia and London whipped it up to $1,618.45 early in the London day. Gold was Fixed at $1,616.50 up $13, as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,306.052 nearly the same as yesterday morning. Ahead of New York’s opening, gold was steady at $1,617.29 in the middle and in the euro at €1,307.64. Full Story
SPOT MARKET prices for buying gold bullion traded just below $1620 per ounce during Friday morning's London session, very slightly below where they ended last week, while stock markets also gained, amid renewed speculation over central bank stimulus measures. Full Story
Gold continued gains on Friday receiving a boost from Angela Merkel’s comments saying she supported ‘Super’ Mario Draghi’s pledge “to do whatever it takes” to save the euro. While this sentiment lifted markets and some investors hope ECB action is sooner rather than later - it is also creates the risk of currency debasement and could lead to further falls in the euro. Full Story
Economic news from the USA, UK and Europe has been encouraging which has resulted in firmness in commodity prices and a weaker US dollar. Today and Monday are the best days for gold to break past $1637 for $1690 and silver to break past $2860 for $2930-$3150. I am optimistic however if this does not happen then there will be another wave of selling. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 August, 2012
Gold saw slight losses in Asia and waffled near unchanged in London, but it then climbed to as high as $1617.76 in New York and ended with a gain of 0.62%. Silver surged to as high as $28.275 and ended with a gain of 1.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 August, 2012
New York gold closed at $1,604.10. London held gold there through the morning right up to the Fix where it Fixed at $1,603.50 as the euro stood at €1: $1.2328. In the euro it was Fixed at €1,306.739, up €13 on yesterday. Ahead of New York’s opening, gold was steady at $1,603.55 in the middle and in the euro at €1,306.62. Full Story
SPOT MARKET prices for Buying Gold hovered just above $1600 per ounce Thursday morning in London, well within their trading range of recent weeks, having risen back above that level amid ongoing speculation over quantitative easing. Full Story
Given the appalling fiscal and monetary backdrop, demand for gold, particularly from investors and store of wealth buyers will likely increase significantly in the coming years – as gold gradually goes from a its status as a fringe investment back to being a mainstream asset common in all investment portfolios and owned by the majority of investors and savers. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 August, 2012
Gold edged up to $1603.09 in Asia before it fell back to $1590.08 at about 4AM EST, but it then rose to as high as $1605.83 in New York and ended with a gain of 0.28%. Silver slipped to as low as $27.496 at about 4AM EST, but it then rose to as high as $27.99 in New York and ended with a gain of 0.07%. Full Story
THE WHOLESALE MARKET gold price fell back below $1600 an ounce during Wednesday morning's London trading, hitting its lowest level for nearly two-weeks, while European stock markets also traded lower, as analysts speculated on the prospects for a third round of quantitative easing (QE3) from the Federal Reserve following the release of positive US economic data. Full Story
An important positive development for the gold market is billionaire financiers George Soros and John Paulson have again increased their allocations to gold as seen in the latest SEC filings. George Soros more than doubled his shares in the SPDR gold trust ETF. He increased his position in SPDR Gold to $137.3 million in the second quarter from $52 million previously. SEC filing for the second quarter showed Soros Fund Management more than doubled its investment in the SPDR Gold Trust from 319,550 shares to 884,400 shares at the end of June. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 August, 2012
Gold climbed $8 to $1616.30 in Asia before it fell back to $1589.28 in early New York trade, but it then bounced back higher midday and ended with a loss of just 0.54%. Silver rose to $28.02 before it dropped back to $27.64, but it then rallied back higher midday and ended with a gain of 0.14%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 August, 2012
New York gold closed at $1,608.3 down $12. London took gold up to $1,614 and it Fixed at $1,614.50 as the euro stood at €1: $1.2366. In the euro it was Fixed at €1,305.596 down €6 on yesterday afternoon. Ahead of New York’s opening gold slipped slightly at $1,613.00 in the middle and in the euro at €1,305.33. Full Story
SPOT MARKET gold prices traded above $1610 an ounce Tuesday morning in London, slightly below where they started the week, while European markets edged higher following news of better-than-expected German economic growth. Full Story
Gold began to recover losses from yesterday and is being supported by concerns of another global economic downturn, potentially a sharp one. Central banks in the US, Europe and China look set to unleash further ultra loose monetary policies in order to prevent recessions or a Depression. Full Story
Technically the next three days are very crucial for gold and silver and if they do not break $1637 and $28.60 they will fall to $1530 and $24.80. Traders will book profit on their long positions if gold and silver do not rise. However at the moment it seems gold and silver’s fall will not be sustainable unless accompanied by a fall in the global stock markets. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 August, 2012
Gold edged up to $1625.43 in London, but it then fell to as low as $1607.58 in early afternoon New York trade and ended with a loss of 0.75%. Silver slipped to as low as $27.73 and ended with a loss of 1.28%. Full Story
U.S. DOLLAR gold bullion prices rose to $1625 an ounce during Monday morning's London trading, towards the higher end of gold's range over the last three months. Silver bullion climbed to $28.18 an ounce – in line with last week's close, after briefly dipping below $28. Full Story
Gold inched up again on Monday, continuing the climb for its 7th session as world economies falter – increasing the likelihood of further central bank policy action – which may again prove futile. The yellow metal will become sought out by investors as an inflation hedge when quantitative easing is pursued again and huge amounts of money are again dumped into the financial system in what seems like an increasingly vain attempt to stimulate growth. Full Story
There is not much economic data to discuss this week. It will be a technical trade. The London Olympics are over and European leaders will now take a serious look at their economies and take decision. The Focus will be on Europe this week. After China last week even the Japanese economy is showing signs of a cooling. Full Story
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