By: Chris Mullen, Gold-Seeker.com - 18 January, 2013
Gold climbed $8.30 to $1695.20 by a little before 9AM EST, but it then chopped back lower for most of the rest of trade and ended near its late session low of $1683.63 with a loss of 0.17%. Silver surged to as high as $32.111 before it also fell back off, but it still ended with a gain of 0.47%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 January, 2013
Since Wednesday gold has moved steadily upward to trade in Asia at $1,693 before London opened. The euro also rose on Thursday to touch €1: $1.3393 at the start of business in London. Gold then Fixed at $1,690.00 and in the euro at €1,265.82 up over €3 again despite a stronger euro at .The euro was slightly stronger at €1: $1.3351. Ahead of New York’s opening, gold was $1,690.70 and in the euro at €1,266.11. Full Story
SPOT MARKET gold prices hovered around $1690 an ounce Friday morning in London, having touched a one-month high in earlier Asian trading, while European stock markets opened slightly higher after gains in Asia, following the release of the latest economic growth figures from China. Full Story
Gold is higher in all currencies this week. It is up 1.7% in dollar terms, 1.5% in euro terms, 2.4% in yen terms and 2.8% in pound terms. Some investors see the recent sell off as overdone and are buying gold on the dip in anticipation of further gains in 2013. While gold looks poor from a technical point of view, after a series of weekly losses, its fundamentals of robust investment and central bank demand remain intact. Full Story
Mixed economic numbers from the USA yesterday in the form of a rise in US housing starts and a fall in manufacturing in December implies that withdrawal of QE3 will not be as quick as the markets initially expected. This resulted in gold and silver paring all their initial losses in the US session yesterday and rising. In case gold has a weekly close over $1685 and silver has a weekly close over $3156 then a rise to $1716-$1755 and $3300-$3530 over the next weeks could be possible. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 January, 2013
Gold edged up to $1683.78 in London before it dropped back to $1666.90 at about 9AM EST, but it then jumped to as high as $1695.79 in early afternoon New York trade and ended with a gain of 0.42%. Silver fell to as low as $31.038 in early New York trade, but it then surged to as high as $31.891 at about 1PM EST and ended with a gain of 0.7%. Full Story
"Amazingly," says Thursday's note from the commodity team at Commerzbank in Frankfurt, "the German Bundesbank's [statement on] the future storage of its gold reserves attracted more attention yesterday than the latest data from Thomson Reuters GFMS – the research institute, which specializes in analysing precious metals." Full Story
Whether the repatriation of only some 20% of Germany's gold reserves from the Federal Reserve Bank of New York and the Banque of Paris back to Frankfurt manages to allay German concerns remains in question. Especially given that the transfer from the Federal Reserve is set to take place slowly over a seven year period and will only be completed in 2020. Full Story
Gold has closed (daily) over $1670 for more than two consecutive days while silver has had a daily close over $3066 for three consecutive days which itself are a bullish signal for further gains. In case has a weekly close over $1670 and silver has a weekly close over $3066 then it will mark the beginning of another big rise. Right now it seems that the bullish foundations are being put in place in gold and silver. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 January, 2013
Gold climbed $5.86 to $1684.76 in Asia before it fell back to $1673.59 at about 8AM EST, but it then rallied back higher in New York and ended with a gain of 0.06%. Silver rose to $31.46 in Asia before it fell back to $31.07 in London, but it then climbed to as high as $31.551 in New York and ended with a gain of 0.25%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 January, 2013
Yesterday saw gold consolidate around $1,680 in New York and Asia with London opening at $1,679. Gold then Fixed at $1,679.75 and in the euro at €1,262.78 up over €3.The euro was slightly weaker at €1: $1.3327. Ahead of New York’s opening, gold was $1,678.90 and in the euro at €1,259.77. Full Story
THE DOLLAR gold price eased back below $1680 an ounce Wednesday morning, though it remained well within its trading range for the past month, while stock markets extended their losses for this week and US Treasuries gained. Full Story
Gold was flat and close to a 2 week high it hit in the prior session, while platinum reversed early losses but was also trading sideways. Yesterday, in a speech that showed him as perhaps the most dovish of the central bank's 19 policymakers, Minneapolis Federal Reserve President Narayana Kocherlakota said the Fed "should provide more monetary accommodation" by targeting a 5.5% unemployment level. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 January, 2013
Gold climbed almost 1% in Asia before it chopped back lower in London, but it then rose to a new session high of $1685.10 in New York and ended with a gain of 0.63%. Silver surged to as high as $31.382 in Asia before it fell back to $31.02 in London, but it then rose to as high as $31.503 in New York and ended with a gain of 1.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 January, 2013
Yesterday saw gold strengthen further in New York then Asia and London then took it higher to Fix at $1,681.00 and in the euro at €1,257 up over €11.The euro was slightly weaker at €1: $1.3346. Gold continues to move independently of currencies including the euro. Ahead of New York’s opening, gold was $1,679.45 and in the euro at €1,259.10. Full Story
SPOT MARKET prices for gold bullion rose to a two-week high above $1680 an ounce Tuesday morning in London, before dipping back to just below that level before lunchtime, while stocks and commodities were slightly down on the day and the US Dollar ticked higher, with US policymakers continuing to disagree on fiscal matters. Full Story
Asian demand has definitely picked up again ahead of Chinese New Year. Gold bar premiums in Hong Kong are $1.25 an ounce, the most since July, and in Singapore $1.10 an ounce, the highest since March, Barclays Plc said according to Bloomberg. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 14 January, 2013
The German business newspaper Handelsblatt, based in Dusseldorf, reports exclusively tonight that the Bundesbank will announce tomorrow a plan to retrieve Germany's national gold from the Federal Reserve Bank of New York and the Banque de France in Paris. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 January, 2013
Gold climbed $11.65 to $1674.85 by a little after 8:30AM EST before it fell back to almost unchanged in the next hour and a half of trade, but it then rallied back higher in afternoon trade and ended with a gain of 0.31%. Silver surged to as high as $31.16 and ended with a gain of 1.94%. Full Story
Gold seems to be getting an initial lift off further improvement in global macro economic conditions. In addition to favorable action in Chinese equities overnight, European stocks are also higher and one US equity market measure has already posted a fresh five year high. With the Euro catching a lift from the favorable economic environment, gold seems to have garnered support from a number of outside market developments early today. With some evidence of increased physical gold demand from Asia overnight, it is clear that some bargain hunting buying was being seen. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 January, 2013
After last week saw a rise to $1,675 before being driven down to $1,662 at New York’s close on Friday, gold was taken higher ahead of London’s opening to $1,669.45 in Asia. The prime cause of the move was not the euro because gold fell in euro terms while it entered recent new territory at over €1: $1.33 on Friday. It opened today at €1: $1.3360 in London. Does one see the euro gold price steady and gold moving with the euro now, or will it continue to move separately? Full Story
WHOLESALE gold bullion prices hovered just below $1670 an ounce Monday morning in London, having regained some ground after Friday's losses, while stocks and commodities also ended the morning up on the day, while the Euro and the Chinese Yuan made gains against the Dollar. Full Story
Spot gold traded nearly flat on Monday in Asia and has edged higher as investors nervously await a string of economic data this week to examine if the grand money printing recovery plan is working for the world's top economies. Full Story
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