Gold gained $8.80 to $1297.50 in London and climbed to as high as $1300.00 in early New York trade before it fell all of the way back $1284.80 just after midday, but it then bounced back higher into the close and ended with a loss of just 0.18%. Silver rose to as high as $17.296 and ended with a loss of 0.12%. Full Story
Having had an excellent run last week, gold and silver have consolidated by initially falling on Monday and Tuesday this week, before rallying back up to the highs on Wednesday and Thursday. In early European trade this morning, gold was up $6 on last Friday’s close at $1294, and silver up 10 cents at $17.15. Full Story
The dollar is falling once more, but not precipitously. It will lead to higher gold prices if it continues. This is being reflected in today’s prices. There is strength to the rise in gold price that we had not seen before in the previous attacks on $1,300. The causes are solid too. These are; an overvaluation of the dollar, a resuscitation of U.S. demand for physical gold, a dearth of sellers of gold, Shanghai’s demand for gold remains strong as it does in London! Full Story
– Gold to silver ratio falls to mid 75s after silver gains last week – Perfect storm of financial and geopolitical tensions is driving safe haven demand and should see higher prices – Weekly close over $1,300 could see gold quickly test $1,400 – Palladium at 16 year highs today; gold, silver in coming months? Full Story
The terror attack in Spain is very good for gold demand from Europe. I have been repeating in my previous reports that Islamisation of Europe equals Shariaization of Europe. There will be religious clashes between migrant Islamic radicals and traditional native Europeans. Japan is a peaceful nation as it does not allow migrants. Once Japan allows migrants it will also be on the way to become another Pakistan. Full Story
Gold gained $8.10 to $1289.80 in Asia before it fell back to $1281.70 in late morning New York trade, but it then rallied back higher into the close and ended with a gain of 0.55%. Silver rose to $17.159 before it fell back to $16.977 and then also bounced back higher, but it still ended with a loss of 0.23%. Full Story
All three global gold centers are reacting to the falling dollar today. What is of great interest is that the concept of Shanghai having a “premium” over London is just about dead. We are seeing a truly global gold price now, both ways. We have no doubt now that global gold prices are here to stay and that the impact of COMEX ‘paper’ gold prices has almost been removed as the significance of New York’s gold prices has diminished, in favour of the global gold price. This is a significant point in the evolution of the gold price! Full Story
– Gold hedges massive ongoing devaluation of U.S. Dollar – 46th anniversary of ‘Tricky Dicky’ ending Gold Standard (see video) – Savings destroyed by currency creation and now negative interest rates – Long-term inflation figures show gold a hedge against rising cost of fuel, food and cost of living – $20 food and beverages basket of 1971 cost $120.17 in 2017 Full Story
Russia is moving away from the US dollar to crypto currencies as a way to evade USA led trade sanctions. Other anti NATO nations will also follow the same. Nations adopting crypto currencies is the beginning of a new era for global trade. Some bitcoin trading portals do not allow Americans to trade in there to prevent the FBI from gobbling them up. Gold will get competition from crypto currencies but I also see more and more people buying gold with bitcoins. We are in the last phase of the US dollar death story. Full Story
Gold dipped to $1267.60 by a little after 9AM EST, but it then jumped to as high as $1283.80 in afternoon trade and ended with a gain of 0.72%. Silver slipped to $16.634 in Asia, but it then climbed to as high as $17.112 in late trade and ended with a gain of 2.64%. Full Story
New York closed $5.00 higher than Shanghai’s close yesterday. Then today sees Shanghai dropping the gold price once again just before London opened, which lead to London’s prices being lower for the same reason as yesterday, as the dollar continued higher, in its falling pattern. Full Story
– World’s largest hedge fund Bridgewater buys $68 million of gold ETF in Q2 – Investors poured $870 million into SPDR Gold in Q2 – Billionaire Paulson keeps 4.36 million shares in SPDR Gold – “Risks are now rising and do not appear appropriately priced in” – warns Dalio on Linkedin – Investors should avoid ETFs and paper gold and own physical gold Full Story
Gold fell $14.30 to $1267.70 at about 9AM EST before it chopped back higher at times, but it still ended with a loss of 0.74%. Silver slipped to as low as $16.583 and ended with a loss of 2.46%. Full Story
New York closed $4.53 higher than Shanghai’s close yesterday. Then today sees Shanghai dropping the gold price just before London opened, which lead to London’s prices being lower as the dollar corrected higher, in its falling pattern. Shanghai is leading the way down, but following a stronger dollar as it adjusts to dollar gold prices. Full Story
– Risk that U.S. debt ceiling not raised; technical US default – Safe haven gold likely to benefit by more than dollar, treasuries – Investors should allocate at least 5% to 10% of assets to gold – “If you don’t have 5-10% of your assets in gold as a hedge, we’d suggest that you relook at this” – “If you do have an excellent analysis of why you shouldn’t have such an allocation to gold, we’d appreciate you sharing it with us …” Full Story
Gold fell $12.60 to $1278.70 in London before it bounced back higher throughout most of the morning in New York, but it then drifted back lower in afternoon trade and ended with a loss of 0.72%. Silver slipped to as low as $16.932 and ended with a loss of 0.23%. Full Story
New York closed $7.00 higher than Shanghai’s close yesterday. Then today sees Shanghai lifting the gold price again. But London pulled it down $6 lower. London and Shanghai see the gold price differently with London being more volatile that Shanghai as you can see above. Shanghai still needs to take gold above $1,300 for the gold price to run higher. Full Story
– Gold has yet another purpose and may help fight cancer – Gold increases effectiveness of drugs used to treat cancer cells by acting as catalyst – research shows – Use of gold in technology and health growing each year – Tech use to increase- number of patent applications in 2017 grew Full Story
By: Chris Waltzek, GoldSeek Radio - 13 August, 2017
- Bill Murphy of GATA.org returns with key insights on the PMs market. - The world's largest gold producing / consuming nation, China just announced a 10% decrease in production and a 10% increase in consumption. - Our guest suggests a gold price target of $3,000-$5,000 to compensate for underlying real inflation levels. - Bill Murphy sees signs that indicate price suppression schemes are failing - the PMs could begin the next leg of an epic ascent. Full Story
So by extension, the implication of the stock market’s wobbly legged table would be a firming gold sector, which is after all, counter-cyclical. Patience my friends. Rome was not built in a day, nor will the next gold bull market be. But suffice it to say, if I had to boil it down to just one chart it would be this one. The 2017 momentum divergence to the negative price of Gold/SPX must resolve in a new uptrend if the gold sector is going to have its day. Full Story
Rhetorical sabre rattling, deeper probing into the President’s campaign and the Russians, deepening clashes between groups in America, coupled with upcoming controversial legislation are a potential deadly recipe to send markets spinning and save havens soaring. The world is being buttressed by serious change. We see climate change, technological change, and globalization change where the world is moving from being interconnected to interdependent—, which means if there is a collapse in one country, it could quickly spread to others. These are the catalysts. Any or all could become the trigger. Full Story
On August 10th, the VXX closed up 14% from the closing price on August 9th. If we count the after-hours data, this move was actually closer to 20%. More impressive than the move higher itself was how well the move followed our Fibonacci Pinball guidelines on its way higher. Full Story
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