By: Chris Mullen, Gold-Seeker.com - 18 December, 2015
Gold climbed nearly $20 to $1070.62 by a little after 10AM EST before it chopped back lower, but it still ended with a gain of 1.45%. Silver rose to as high as $14.20 and ended with a gain of 2.77%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 December, 2015
The New York gold price closed at $1,050.70 down $22.60 from $1,073.30 on Thursday’s close. In Asia prices rose back to $1,057.00 before London held it around $1,056 and the dollar index rose to 98.99 up from 98.83 in the dollar Index. The euro fell back to $1.0821 down from yesterday’s $1.849 from Thursday’s level against the dollar. The London a.m. LBMA gold price was set at $1,055.25 down $10.60 from Thursday’s $1,065.85. In the euro the fixing was €975.55 down from yesterday’s €982.26. Ahead of New York’s opening, the gold price was trading at $1,056.45 and in the euro at €976.52. Full Story
Gold fell to the lowest level in dollar terms since 2009 yesterday after the Fed’s “historic” 25 basis point interest rate rise on Wednesday. The rate hike has been heralded as the “end of cheap money.” This may or may not be the case but what is more important for precious metal buyers is the impact of potential rising rates on gold prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 December, 2015
Gold fell to as low as $1047.78 by a little after 10AM EST before it bounced back higher at times, but it still ended with a loss of 2.11%. Silver slipped to as low as $13.682 and ended with a loss of 3.04%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 December, 2015
The New York gold price closed at $1,073.30 up from $1,060.90 on Wednesday’s close. In Asia prices pulled back to $1,064.00 before London took it back up to $1,054, as the dollar index rose to 98.83 the dollar Index. The euro fell back to $1.0849 down from yesterday’s $1.920 down ¾ of a cent from Wednesday’s against the dollar. The London a.m. LBMA gold price was set at $1,065.85 up 10 cents from Wednesday’s $1,065.75. In the euro the fixing was €982.26 up from yesterday’s $975.60. Ahead of New York’s opening, the gold price was trading at $1,067.85 and in the euro at €984.19. Full Story
Speaking to CNBC just before the interest rate decision, Faber warned that it’s the wrong time because “the global economy has decelerated very badly, and many countries are already in recession, or going into recession.” The rate hike separated the Fed from other major central banks – The ECB, Bank of England, PBOC, the Bank of Tokyo and elsewhere that are all battling deflation and desperately trying to stimulate some form of sustainable economic growth. Full Story
The interest rate rise by the Federal Reserve was slightly larger than expected. The federal funds rate was raised to 0.25 percent to 0.5 percent. There will be more interest rate hike over the next one year. It will still be difficult to comment on the pace of interest rate hike by the Federal Reserve. In my view inflation will be the key. Interest rate will continued to be raised at a moderate pace as long as inflation does not rise. If inflation overshoots the interest rate hikes could be jeopardized. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 December, 2015
Gold climbed $16.67 to $1077.57 just ahead of today’s fed statement before it dove down to $1062.74 just after the statement and then climbed to a new session high of $1077.87 in the next hour of trade before it drifted back lower again into the close, but it still ended with a gain of 1.17%. Silver rose to as high as $14.311 and ended with a gain of 2.91%. Full Story
The all important context for Federal Reserve’s interest rate decision, where the Federal Reserve is widely expected to hike interest rates for the first time in nearly a decade has been examined by the insightful Grant Williams. He is very skeptical of the Fed’s ability to continue to control markets much longer … and this is a gross understatement. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 16 December, 2015
Fed day is here [once again?] and it is now all about the dollar’s exchange rate. We reiterate our oft stated fact that the U.S. can no longer afford a strong dollar if it is to keep its ‘moderate’ recovery intact. We do see dealers and speculators shifting the euro around the dollar to second guess what the Fed and later the market will do on that front. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 December, 2015
Gold chopped around between $1059.64 and $1068.50 and ended with a loss of 0.3%. Silver slipped to $13.674 in Asia, but it then rose to as high as $13.814 in New York and ended with a gain of 0.29%. Full Story
Money Week editor John Stepek has looked at the recent mutual fund collapse in the junk bond market and correctly warns that it is a canary in the coal mine. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 15 December, 2015
While gold and silver prices are being forced down the euro is trying to rise strongly. The foreign exchange market clearly has a different view of the Fed’s actions tomorrow than dealers and speculators on COMEX. The price falls appear to be a ‘marking down’ of prices before potential selling can take place. If buying comes in instead the speed with which prices rebound will be meteoric. Full Story
Sometimes market react (after the FOMC meet) in exactly the opposite way we believe it should. Prepare for any eventuality over the next three days. Keep in mind, the key major support and major resistances of the financial instrument you are trading/investing. Look for a firm direction. If you trade is on the loss making side then use key support/ key resistances to minimize losses. Full Story
By: Chris Mullen, Gold-Seeker.com - 14 December, 2015
Gold fell to as low as $1063.41 by early afternoon in New York before it bounced back higher, but it still ended with a loss of 1.31%. Silver slipped to as low as $13.665 and ended with a loss of 1.72%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 December, 2015
The New York gold price closed at $1,078.20 up from $1,071.70 on Friday’s close. In Asia prices dropped to $1,074 before London took it down to $1,067 as the dollar index held close to Friday’s level of 97.90 at today’s 97.85 on the dollar Index. The euro is at $1.0955 almost the same as Friday’s $1.0956 against the dollar. The London a.m. LBMA gold price was set at $1,068.00 up from Friday’s $1,067.20 Friday. In the euro the fixing was €974.05 up from yesterday’s $972.79. Ahead of New York’s opening, the gold price was trading at $1,068.65 and in the euro at €974.33. Full Story
– “Monetary insanity” of ECB and Fed is “frightening” – “Absolutely nothing has been learned” since financial crisis – “Financial hypocrisy on a grand scale” – Ireland was vassal of Bank of England and now ECB – Ireland needs to get “financial and monetary independence” Full Story
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