By: Chris Mullen, Gold-Seeker.com - 18 October, 2013
Gold jumped up to $1326.31 at about 3AM EST before it chopped back down to $1311.65 by early afternoon in New York, but it then edged back higher in the last few hours of trade and ended with a loss of just 0.42%. Silver popped up to $22.014 at about 9AM EST before it fell back off, but it still ended with a gain of 0.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 October, 2013
New York closed at $1,319.70 up $40.25 on Thursday. Asia let it slip slightly to $1,316 before London right at the opening took it up to $1,322. At the Fix, gold was set at $1,317 up $8.50. In the euro it Fixed at €962.086 up just over €2. Ahead of New York’s opening gold stood at $1,321.40 and in the euro at €964.42, while the dollar broke down to new recent lows. Full Story
WHOLESALE prices for physical gold held near $1320 per ounce this morning in London, gaining 3.5% from last Friday after the mid-week US debt-limit deal saw what one dealer called "heavy short covering and some fresh buying." Full Story
Gold is 3.5% higher for the week and headed for its best weekly gain in two months due to concerns about the latest episode of fiscal "can kicking" in Washington after U.S. politicians reached another temporary budget deal. Besides the extension in the U.S. debt ceiling, gold also got traction after the increasingly influential Chinese credit rating agency, Dagong, downgraded the U.S. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 October, 2013
Gold edged back above $1385 in early Asian trade and fell to see a $5.10 loss at $1274.40 at about 3AM EST before it soared over $45 higher to above $1320 in the next hour of trade and then fell back under $1305 in the hour of trade following that, but it then climbed to a new session high of $1324.29 in New York and ended with a gain of 3.14%. Silver soared to as high as $22.161 and ended with a gain of 2.49%. Full Story
The WHOLESALE price of gold in London leapt at the start of Thursday's trade, rising $45 per ounce to hit 1-week highs above $1320 after the US Congress reached a short-term deal on the government's debt limit. Avoiding the technical default set to hit today, the compromise extends new borrowing to New Year 2014. Asian and European shares failed to follow US stocks higher on the news, while the Dollar fell hard and US bond yields also eased back. Silver rose over 5% this morning to trade above $22 per ounce for the first time in a week. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 October, 2013
New York closed at $1,279.50 down $1.80 on Wednesday. Asia held it around the same level ahead of London’s opening, where it soared to $1,308. At the Fix, gold was set at $1,308.50 up $30.25. In the euro it Fixed at €959.874 up €15.1. Ahead of New York’s opening gold stood at $1,308 and in the euro at €960.28. Full Story
The smart money is scooping gold bullion up at these depressed levels. Gold is down 23% this year despite robust demand from central banks and especially from India and China. Global sales of bullion bars and coins gained 78% in the second quarter, according to the World Gold Council, showing that demand actually accelerated. The U.S. government has avoided default but remains essentially insolvent and its appalling fiscal state has deteriorated once again due to the debt ceiling being raised above $16.7 trillion. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 October, 2013
Gold climbed $6.11 to $1287.41 in Asia before it fell to $1269.41 at about 11AM EST, but it then rallied back higher midday and ended with a loss of just 0.14%. Silver slipped to as low as $21.113 at about 9AM, but it then rose to as high as $21.418 in early afternoon trade and ended with a loss of just 0.28%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 October, 2013
New York closed at $1,281.30 up $8.60 on Tuesday. Asia took it up to $1,285.30 ahead of London’s opening. At the Fix, gold was set at $1,278.25 up $22.75. In the euro it Fixed at €944.752 up €15.25. Ahead of New York’s opening gold stood at $1,281.35 and in the euro at €946.90. Full Story
LONDON GOLD moved in a $10 range Wednesday morning around $1281 per ounce – the early August low, down more than 10% from that month's peak – as both the US House and Senate were due to meet in what headline writers called "a last ditch attempt" to resolve the government's debt-limit deadline, set for tomorrow. Full Story
Gold came under pressure in early Asian trading prior to turning around and rising to $1,290/oz. Gold was capped at these levels and then gave up those gains to trade flat in European trading despite Fitch placing the United States triple A rating on credit watch. U.S. lawmakers are scrambling to come up with an agreement to increase the federal debt ceiling before tomorrow’s deadline. Gold has not priced in a U.S. default - which could result from failure to raise the borrowing limit - on expectations that Congress will reach a deal at the last minute. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 October, 2013
Gold fell $21.14 to $1251.56 by a little after 7AM EST before it rebounded to $1277.08 in early New York trade and then fell back to $1267.20 by late morning, but it then climbed to a new session high of $1287.92 in the next few hours of trade and ended with a gain of 0.68%. Silver slipped to as low as $20.494 at one point, but it then rose to as high as $21.50 and ended with a gain of 0.33%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 October, 2013
New York closed at $1,272.70 up $2.50 on Monday. Asia held it there ahead of London’s opening. At the Fix, gold was set at $1,255.50 down $21.25. In the euro it Fixed at €929.487 down €12. Ahead of New York’s opening gold stood at $1,255.50 and in the euro at €929.24. Full Story
The WHOLESALE price of gold bounced hard Tuesday lunchtime in London from new 3-month lows, regaining $10 per ounce from $1255 as European shares rose but US stock futures pointed lower. The Dollar rose, knocking almost 1 cent off the Euro, as word spread of an apparent US political deal to avert technical default at the debt limit's deadline on Thursday. Full Story
Gold snapped a four day losing streak yesterday but is under pressure again today. Gold traded in a narrow range overnight prior to aggressive selling that saw gold fall to $1,255/oz. Gold is hovering near three month lows despite the political shenanigans and impasse in Washington. Gold, whose safe-haven appeal is usually burnished during times of geopolitical and economic uncertainty, has failed to gain despite protracted wrangling over the fiscal deadlock in the United States. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 October, 2013
Gold climbed to as high as $1289.50 by a little after 8AM EST before it fell back off in New York, but it still ended with a gain of 0.2%. Silver surged to as high as $21.651 at one point, but it then fell back off for most of the rest of trade and ended with a loss of 0.14%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 October, 2013
New York closed at $1,270.20 down $17.20 on Friday. Asia lifted gold $6 ahead of London’s opening. At the Fix, gold was set at $1,276.75. In the euro it Fixed at €941.491. Ahead of New York’s opening gold stood at $1,277.80 and in the euro at €942.12. Full Story
PRECIOUS METALS rose Monday morning in London, with gold recovering more than $20 of last week's $50 drop to trade at $1287 per ounce as world stock markets fell ahead of this week's technical default by the US government. Silver outpaced the rally in gold, adding 1.5% by lunchtime in London. "Although a default would clearly be bullish for gold," writes Jonathan Butler at Japanese conglomerate Mitsubishi, "the US is very unlikely to breach the debt ceiling. Full Story
We believe that a default will be avoided again this time through politicians cobbling together another makeshift agreement at the last minute. However, long term the U.S. is almost certainly set to default either through debt default or a quasi default through devaluing and debasing the dollar and significant inflation. Full Story
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